Germanys Merkel says Greece making progress with its reform deserves another chance

Germany’s Merkel says Greece making progress with its reform, deserves another chance by News Staff Posted Oct 13, 2012 9:19 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email BERLIN – Germany’s chancellor says she thinks debt-laden Greece is making progress in implementing reforms and austerity measures “step by step.”Angela Merkel said in her weekly video podcast published Saturday that Greece’s progress is slower than hoped “but on this matter we should always give Greece another chance.”Merkel’s comments appeared to signal a further shift in Germany’s position toward showing more patience even though Athens has fallen behind on the ambitious reforms and cuts it must implement in return for bailout loans.The subtle shift comes amid calls from the International Monetary Fund to give Greece two more years to meet the agreed targets.Merkel, who visited Athens Tuesday, has said that extending the timeframe for Greece’s reforms can only be decided after a creditors’ assessment expected within weeks. read more

US stock market ends higher as rising mining stocks offset weak McDonalds

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email NEW YORK, N.Y. – The U.S. stock market is closing at a record high despite a disappointing quarterly performance from McDonald’s.A big week for corporate results began Monday with second-quarter earnings for the hamburger chain falling short of Wall Street’s expectations.But the price of gold broke above the $1,300 mark for the first time in a month, and gave mining stocks a lift. Gold rose $43.10, or 3 per cent, to $1,336 an ounce.The Standard & Poor’s 500 index rose three points to 1,695, a record high. The Dow Jones industrial average closed up one point to 15,545. The Nasdaq composite was up 12 points at 3,600.McDonald’s says economic uncertainty for its customers weighed on results and it warned of a tough year ahead. The company’s stock price was down 2.7 per cent. by The Associated Press Posted Jul 22, 2013 4:19 pm MDT US stock market ends higher as rising mining stocks offset weak McDonald’s earnings read more