Crude-oil slight slump below USD 90

Source: Marketwatch

Investors are switching their confidence to the dollar as price of crude-oil dropped below USD 90 on Tuesday 29 May. The key reason for the decline was the uncertain situation in Spain as its credit rating was downgraded to B. In addition, Greece's current state adds to the pressure and anxiety grows over the potential drop in the demand for oil.

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Wed, 30 May 2012 13:54:05 GMT

Asian shares tumble as Chinese government erases hopes for large stimulus

Asian shares fell on Wednesday as China's policy makers announced the government won't implement a large scale monetary stimulus. Japan's Nikkei Stock Average lost 0.3%, Shanghai Composite index declined 0.2% and South Korea's Kospi gave up 0.3%. Hong Kong's Hang Seng index plunged 1.9% and Australia's S&P/ASX 200 deteriorated 0.5%.  

Wed, 30 May 2012 13:43:04 GMT

Spain's bailout plan is dismissed by the European Central Bank

The European Central Bank expressed their strong disapproval with Spain's strategy to bailout Bankia by utilizing EUR 19 billion in sovereign debt, which may jeopardize the bank to break the law prohibiting financing governments by the central bank. Moreover, Bankia has been severely criticized when its parent company announced its promise to provide a pension package totaling at EUR 14 million to its former O.C.

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