Category Archives: Oil Tycoon

After more than 13 hours of talks, euro zone ministers approved a new bailout of 130 billion euros, or $172 billion, in which private investors in Greek debt will take steeper losses than expected to help avoid a default.

Longer-term doubts over Greece’s ability to repay its staggering debts remain, raising questions about whether even more rescue money will eventually be needed.

The Dow Jones industrial average exceeded 13,000 points in late morning trading as investors weighed a bailout deal for Greece and the latest corporate earnings reports.

In what might seem a counterintuitive move, the private equity firm is looking for pockets of value amid Europe’s economic turbulence.

Alibaba offered on Tuesday to buy the remaining shares of Alibaba.com for 13.50 Hong Kong dollars a share, roughly the same price at which the unit went public in 2007.

The giant retailer reported net income of $5.16 billion, down from $6.06 billion a year earlier, although revenue climbed at Walmart stores in the United States.

The Indian carrier cut the number of flights it was operating by more than half Tuesday as it struggled to repay debts, including unpaid taxes and employee wages.

Some financially strong Catholic-sponsored medical centers are joining with smaller secular hospitals, in some cases limiting access to treatments like contraception and abortion.

The bank becomes the first British lender to cut past bonuses because of losses that turned up later.

Housing advocates are skeptical that new rules will provide underwater borrowers with a single point of contact to help them navigate the mortgage maze.