Drive for IMF Funds Caught in Global Power Shift

Drive for IMF Funds Caught in Global Power Shift 
Published: Saturday, 14 Apr 2012 | 7:24 AM ET Text Size
By: Reuters

Tensions among some of the world's leading economies have boiled up over a plan to raise new resources for the International Monetary Fund to contain the euro zone debt crisis, and a quest by emerging economies to win more say in the global lender.

World financial leaders gathering in Washington next week will focus on proposals for countries to contribute more money to the IMF so it is better prepared in case of fallout from any further escalation of Europe's debt problems.

Emerging market countries like China, Brazil and Russia are willing to provide more money for the IMF, but they want something in return: greater voting power.

http://www.cnbc.com/id/47049024

European stock markets rocked by panic selling as debt crisis reignites

European stock markets rocked by panic selling as debt crisis reignites
Investors demanding high premiums for holding Italian and Spanish bonds as fears of double-dip recession grow

Heather Stewart, Larry Elliott and Giles Tremlett in Madrid
The Guardian, Tuesday 10 April 2012

Europe's sovereign debt crisis exploded back into life on Tuesday, with markets across the continent rocked by a wave of panic selling amid renewed fears about the impact of savage austerity measures in Spain and Italy.

The mood of uneasy calm seen across Europe since the Greek bailout in February was shattered as financial markets took fright at evidence of a double-dip recession and growing popular opposition to welfare cuts and tax increases.

http://www.guardian.co.uk/world/2012/apr/10/european-stock-market-panic-selling

Where Has All the Trading Gone? Volume Hits 4-Year Low

Where Has All the Trading Gone? Volume Hits 4-Year Low
Published: Tuesday, 10 Apr 2012 | 1:22 PM ET Text Size
By: John Melloy

It’s one of the biggest mysteries on Wall Street. How can stocks be in their fourth year of a bull market and trading activity be so low?

During March, average daily volume in equity shares was at their lowest level since December 2007, according to new data from Credit Suisse. This is the same month that marked the three-year anniversary of the bull market that caused the Standard & Poor's 500 to double from its March 2009 credit-crisis low.

http://www.cnbc.com/id/47005811

Portugal's domestic banks tap ECB for record amounts of funding

Portugal's domestic banks tap ECB for record amounts of funding
Bank of Portugal says domestic banks' use of European Central Bank's facilities rose to a record €56.3bn in March

The reliance of eurozone banks on the European Central Bank was demonstrated on Monday when Portugal revealed that its domestic banks were tapping the central bank for record amounts of funding.

The Bank of Portugal said the use by domestic banks for the various facilities available from the ECB rose to €56.3bn in March – up from €47.5bn in February and greater than the previous record level of €49.1bn in August 2010.

Bailed out by the EU and International Monetary Fund in April 2011 for €78bn, Portugal has €12bn earmarked for bolstering its banks' capital positions if necessary in the months ahead.

http://www.guardian.co.uk/business/2012/apr/09/portugal-banks-ecb-record-funding

Stocks Log 4-Day Loss, Dow Ends Below 13,000

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=djia&sid=1643

Stocks Log 4-Day Loss, Dow Ends Below 13,000
Published: Monday, 9 Apr 2012 | 4:49 PM ET
By: JeeYeon Park
CNBC.com Writer

Stocks accelerated their losses in the final minutes of trading to close sharply in the red for the fourth-straight session Monday after last week's disappointing jobs report raised concerns over the strength of the economy.

Stocks had modestly clawed back from their lows throughout the afternoon after tumbling heavily at the open.

http://www.cnbc.com/id/46992390

Fed tones down talk of more stimulus

Fed tones down talk of more stimulus
ReutersReuters – 2 hours 1 minute ago
By Pedro da Costa and Mark Felsenthal

WASHINGTON (Reuters) - Federal Reserve policymakers appear less inclined to launch a fresh round of monetary stimulus as the U.S. economy gradually improves, according to minutes for the central bank's March meeting.

Economic growth has strengthened slightly, Fed officials noted, but they remained cautious about a broad pick up in U.S. activity, focusing heavily on a still elevated jobless rate.

Despite this caution, only "a couple" of members thought additional monetary stimulus might be needed to support the economy if it loses momentum or inflation remains too low for too long.

http://finance.yahoo.com/news/fed-softens-tone-stimulus-talk-180436972.html