Free Business Start Up Ideas: Junk Removal

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Italy bank shares dive on credit rating alert

Unicredit was one of the banks whose shares fell sharply in the wake of the Moody's warning Shares in leading Italian banks fell sharply after the credit ratings agency Moody's said it may downgrade their status. Moody's report, published late on Thursday, put 16 Italian banks and two government institutions on review for a possible mark-down. Shares in the country's biggest bank, Unicredit, lost 5.5%. Intesa Sanpaolo, Italy's second-largest bank, and Monte Paschi also dropped. Trading was suspended in some banks. Other factors weighing on bank shares included fears that Italian...

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US consumer spending fails to rise in May

Falling car sales were partly blamed for the unchanged consumer spending US consumer spending was unchanged in May, the first time there has been no growth since September 2009. Adjusted for inflation, spending contracted by 0.1% compared with the month before, according to the Commerce Department. Consumer spending accounts for about 70% of US economic activity. Incomes grew by 0.3% in the month, which was 0.1% above the rate of inflation, reversing a 0.1% inflation-adjusted decline in April. "While there are no major surprises,...

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Greece: French banks ready to roll over loans, Sarkozy

Nicolas Sarkozy is trying to forge a plan for French banks to give Greece longer to repay French President Nicolas Sarkozy says his country's banks would help Greece by giving it 30 years to repay. France's Figaro newspaper said banks are ready to relend - or roll over - 70% of loans they hold. The plan is being worked out by the French government and bankers. Greece, which has not yet exhausted all its first 110bn-euro (£98bn, $158bn) bail-out, is already standing by for further rescue loans expected to be up to 120bn euros. ...

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