Merkel refuses radical euro rescue despite mounting crisis
Berlin reports that Chancellor Angela Merkel clings to gradual action as markets lose faith amid the eurozone debt crisis. Merkel rejects eurobonds and full fiscal union, notes Germany’s export ties and banks’ exposure, while bailout funds gain powers and austerity remains the backbone of relief.
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Berlin
Angela Merkel
Europe
European Central Bank
Merkel
Greece
Germany
Ireland
Portugal
Solyndra loan restructuring draws GOP scrutiny
Federal records show Solyndra’s 535 million loan guarantee was restructured to let two private investors back ahead of the U.S. government in a liquidation. The Fremont solar maker later filed for Chapter 11, with 1,100 workers affected, amid political fallout and questions of political donor influence.
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Washington
Obama
Barack Obama
Solyndra Inc
Solyndra
Fremont
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Associated Press
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Rfla
Energy Department
Jefferson County Deals to Avert Major Municipal Bankruptcy
Jefferson County Alabama reaches a preliminary agreement with Wall Street bankers to avoid the largest municipal bankruptcy in U.S. history by restructuring about $3.1 billion in sewer debt. The deal hinges on Indiana legislation and local tax and budget changes, with final elements awaiting a special session.
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Birmingham
Ala
Wall Street
Alabama
U.S
Jefferson County
Jimmie Stephens
Trader held on fraud charges after UBS loss
London court hears 31 year old Kweku Adoboli charged with fraud and false accounting dating back to 2008 over a $2 billion loss at UBS. He was remanded until Sept 22 as investors and officials call for bank accountability and Moody's reviews UBS's credit rating amid the London based investment unit worries.
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UBS
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Carolyn Wagstaff
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