Controller: State to run out of cash in March without action
California will run out of cash by early March if the state does not take swift action to find $3.3 billion through payment delays and borrowing, according to a letterstate Controller John Chiang sent to state lawmakers today.
The announcement is surprising since lawmakers previously believed the state had enough cash to last through the fiscal year that ends in June.
But Chiang said additional cash management [...]
Jan 20 (IFR) – European banks are preparing for a potential worsening of the region’s sovereign and banking crisis, with many firms stockpiling cash and cutting back on loans to new clients as they seek to protect themselves against a possible seizing-up of financial markets.
Faced with 650 billion euros of debt coming due this year – almost 40 percent of which matures before the end of March – lenders are [...]
From Dow Jones: “French banks are experiencing difficulties providing financing for aircraft purchases by airlines, a market that is largely dominated by dollar transactions, Louis Gallois, chief executive of European Aeronautic Defence & Space Co. (EAD.FR, EADSY), said Monday. “French banks clearly have problems financing aircraft purchases,” he said, speaking on the sidelines of an event to launch a new French think-tank to [...]
Ã¢â‚¬Â¢About 37% of 18- to 29-year-olds have been underemployed or out of work during the recession, the highest share among the age group in more than three decades, according to a Pew Research Center study released in February.
Ã¢â‚¬Â¢This generation is the least likely of any to be covered by health insurance. Just 61% say they were covered by some form of a health plan, the Pew study said.
Ã¢â‚¬Â¢Only 58% pay [...]