Economy

Greek Government Hands European Creditors New Bailout Proposals

4:50pm July 09, 2015

by Krishnadev Calamur

News reports say the new proposal accepts the tough austerity measures demanded by Greece's European partners but also includes a debt write-off, which Germany has opposed.

People read the front pages of various newspapers hanging at a kiosk Tuesday in central Athens. European leaders have set a Sunday deadline for Greece to reach a deal on debt repayment and austerity measures.

As Government Hunts For A Solution, Greeks Anticipate Catastrophe

1:59pm July 09, 2015

by Joanna Kakissis

Greek banks have been closed for more than a week, and it's unclear when they will reopen. Many Greeks are worried that if the banks collapse, they will lose everything.

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Graphic: China accounts for more than half the world's 'middle income' population growth

Who's Still Poor? Who's Made It To Middle Income? Pew Has New Data

1:54pm July 09, 2015

by Jason Beaubien

The global middle class is growing ... but slowly. (A lot of the credit goes to China.) And more than 70 percent of the world's population still falls below what would be considered "middle" income.

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Lead Prosecutor Brings Gandhi-Like Attitude To Brazil's Corruption Scandal

11:11pm July 08, 2015

by Lourdes Garcia-Navarro

In Brazil, one of the biggest corruption scandals in its history has an unlikely hero. He is a 35-year-old Harvard educated lawyer who says his inspiration is Gandhi.

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A trader waits today for trading to resume on the floor of the New York Stock Exchange.

Glitches Galore: A Brief History Of Technical Problems On Wall Street

6:48pm July 08, 2015

by Krishnadev Calamur

Computer-related problems on the New York Stock Exchange halted trading for more than three hours on Wednesday, but it was not a one-off.

Greece's Tsipras Tells EU Leaders He Wants 'Socially Just' Solution To Crisis

6:34pm July 08, 2015

Greek Prime Minister Alexis Tsipras appeared before European Parliament on Wednesday to propose what he called a "fair and viable solution" to the country's economic crisis.

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People lined up on Wednesday to withdraw cash from a bank machine in central Athens. Banks remain shut this week and ATM withdrawals are limited to 60 euros (about $66) a day.

Greeks Brace For Shortages At Home, Await Word On Fate From Abroad

6:34pm July 08, 2015

by Eleanor Beardsley

Greeks are increasingly worried as they confront an eighth day of closed banks and limited withdrawals. Meanwhile, people are running short of money for essentials.

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China's Economic Downturn Needs To Happen To Boost Consumption

6:34pm July 08, 2015

NPR's Robert Siegel talks with Patrick Chovanec, chief strategist with Silvercrest Asset Management group, about the Chinese stock market and the impact on the U.S. and global economy.

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A trader claps on the floor of the New York Stock Exchange at the close of the day after trading was paused for nearly four hours due to a "technical glitch" on Wednesday.

A Day Filled With Market Jitters, But Not Panic

5:24pm July 08, 2015

by Marilyn Geewax

If you were thinking about stuffing your money into your mattress, Wednesday gave you plenty of reasons to do so. But if you're an optimistic investor, the day gave you new reasons to be confident.

The drachma was Greece's currency before it joined the eurozone in 2001. There's now talk that Greece could leave the euro and return to its old currency, though economists say the transition would be difficult and the drachma would likely be extremely we

Greece By The Numbers

5:03pm July 08, 2015

by Greg Myre

Forget about all the nebulous terms like "austerity," "bailout" and "capital controls." Here are the key numbers you need to know in the Greek financial crisis.