Stocks Jump on Greek Debt Deal
By CHRISTINE HAUSER and DAVID JOLLY
Markets were cheered by progress reached in Europe on resolving their debt crisis and strengthening banks.
LONDON — A report on the American economy added to investors’ upbeat mood following the broad agreement on the euro zone debt crisis, but uncertainty remained about Europe’s next steps.
Markets were cheered by progress reached in Europe on resolving their debt crisis and strengthening banks.
G.D.P. grew at a 2.5 percent rate, a reassuring improvement but not enough to recover ground lost during the recession.
The largest oil companies in the United States and in Europe both reported strong earnings.
Banco Santander reported a nine-month net profit of $7.4 billion that was below expectations, and the bank said it had focused on continuing to diversify away from its Spanish operations.
Sweden’s Ericsson has agreed to sell its stake in the struggling cellphone maker Sony Ericsson to Sony for $1.5 billion in a final retreat from the mobile handset business.
TOKYO — The Japanese firm Olympus said its president and chairman Tsuyoshi Kikukawa had stepped down after the company became embroiled in a scandal over a series of costly acquisitions.
Rajat K. Gupta was “the illegal eyes and ears in the boardroom” for a friend on Wall Street, Raj Rajaratnam, prosecutors asserted Wednesday as they filed criminal charges.
The company has made a deal to buy 49 percent of a Russian television channel to introduce its brand to a country it views as an important untapped market.
MOSCOW — Georgian negotiators said Thursday that they had accepted a Swiss compromise that would clear Russia’s path to join to the World Trade Organization, but Russian negotiators made no immediate comment.
OTTAWA — The new operating system, intended to correct such omissions as the inability to send email without being linked to a phone, won’t be ready until next year.
Less that two weeks after an anti-capitalist campaign descended on the London cathedral, Reverend Giles Fraser has resigned over plans to forcibly remove the protesters.
Hertz, which withdrew its offer citing market conditions, said it was still interested in a deal if it could win regulatory clearance and settle on a fair price.
DETROIT — The $212 million for the third quarter was the largest profit since the automaker’s 2009 bankruptcy.
BARCELONA — At an industry conference, executives cite benefits of wind and solar energy but acknowledge economic hurdles.
Bernard Madoff’s wife said she and her husband tried to kill themselves just after his Ponzi scheme was exposed.
LONDON — The Lumia models, presented Wednesday, are the first fruits of the phone maker’s alliance with the American software giant.
VALSGARD, Denmark — To deal with resistance to new high-tension power lines, the Danes hit on the idea of involving industrial architects in the pylons’ design.
Communist leaders are proposing some of the tightest limits on media and Internet freedoms in years.
WASHINGTON — The rule adopted Wednesday requires large funds to report details of their holdings in a bid to limit risks to the financial system.
MADRID — As countries reassess the likely depth and duration of the economic chill, many are rethinking their energy policies.
The latest economic and policy developments from countries in the euro zone.
In photographing the Swiss banking industry, Mark Henley faced the challenge of documenting something no one can see. Yet the pictures — like something out of a noir film — have familiar qualities.