Business  March 02, 2015
Spain says third bailout for Greece seen at 30-50 bln euros
Greek Finance Minister Yanis Varoufakis (R) speaks with his Spanish counterpart Luis de Guindos Jurado during an emergency Eurogroup finance ministers meeting in Brussels on February 20, 2015Spanish Economy Minister Luis de Guindos on Monday said European Union officials are estimating that a hypothetical third bailout for Greece could amount to between 30 and 50 billion euros ($34-55 billion).European officials have estimated that Greece's financing needs could require an aid package of "30 billion, 40 billion, 50 billion euros", the ...  Full Story
Russia, Ukraine agree gas delivery deal until end March: EU
Moscow and Kiev agreed a gas delivery deal until the end of March after EU-brokered talks in Brussels MondayMoscow and Kiev agreed a gas delivery deal until the end of March after EU-brokered talks in Brussels Monday, securing supplies to Europe after a row over supplies to rebel-held eastern Ukraine, the EU said."I am satisfied that we managed to safeguard the full application of the Winter Package for the supply needs in Ukraine," said Maros Sefcovic, ...  Full Story
Spanish property developer Martinsa files for liquidation bankruptcy
Spanish property developer Martinsa Fadesa said Monday it would file for liquidation bankruptcy after it failed to win support from banks for its latest debt repayment planSpanish property developer Martinsa Fadesa, a symbol of the excesses that led to Spain's property bubble collapse, on Monday said it would file for liquidation bankruptcy after failing to win support from banks for its latest debt repayment plan."The board has decided today to ask for the start of judicial liquidation," the company said in a regula...  Full Story
Wrist action: phone firms bet on 'year of smartwatch'
Chinese electronics group Huawei, one of the firms seeking to seduce buyers with Internet-connected devices, shows off its new smartwatch in Barcelona on March 1, 2015Defying scepticism and geek-stigma, mobile phone firms are determined this year to sell you a wristwatch wirelessly connected to your mobile phone.Numerous models have hit the market over the past year but 2015 will see an explosion, analysts say, with manufacturers making their watches and other wearable connected devices more elegant and useful.U...  Full Story
Nasdaq closes above 5,000 for 1st time in 15 years
Traders work on the floor of the New York Stock Exchange on February 20, 2015The Nasdaq finished above 5,000 Monday for the first time in 15 years, capping a long-running recovery in the exchange after the dot-com bubble burst spectacularly in 2000.The tech-rich Nasdaq Composite Index jumped 44.57 points (0.90 percent) to 5,008.10, finishing above 5,000 for only the third time in its history.Both the Dow Jones Industrial Av...  Full Story
Ukraine parliament debates reforms needed for crucial IMF loan
View of a petrol station damaged by shelling outside Debaltseve, Ukraine in the Donetsk region, on February 28, 2015. As the value of the Ukrainian currency has plunged, the price of petrol has risenUkraine's parliament began Monday debating a package of reforms the International Monetary Fund requires to deliver a multi-billion-dollar aid package needed to pull the country from the brink of bankruptcy.Ukraine's currency, the hryvnia, has gone into free-fall over the past year, losing almost two-thirds of its value as the east collapsed into a...  Full Story
Argentina moves to nationalize railways
Argentina launched the nationalization of its railroads, taking over three key lines and canceling without compensation all contracts with the companies involvedArgentina launched the nationalization of its railroads Monday, taking over three key lines and canceling without compensation all contracts with the companies involved.After President Cristina Kirchner unveiled plans Sunday to "recover" the country's railroads from private management, the government published a notice in its Official Bulletin anno...  Full Story
Old-economy sectors are now tech, too: US study
Forget about old economy and new economy. Everything is now part of the tech economy, a prominent US research panel said MondayForget about old economy and new economy. Everything is now part of the tech economy, a prominent US research panel said Monday.New technologies ranging from cloud computing to data analytics are transforming virtually all industries, including old-economy sectors like manufacturing, said the report by the National Academy of Engineering.Manufactur...  Full Story
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