الخميس، 3 نوفمبر 2011

Afternoon Update: Greek Leader Calls Off Referendum on Bailout Plan

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TOP NEWS

Greek Leader Calls Off Referendum on Bailout Plan

By RACHEL DONADIO and NIKI KITSANTONIS

Prime Minister George Papandreou canceled his controversial plan to hold a popular referendum on the European debt deal, saying the plan served its purpose by creating a broader consensus behind the deal.

European Central Bank, Under New Chief, Cuts Key Rate

By JACK EWING

In Mario Draghi's first meeting as president, the bank lowered Europe's benchmark rate to 1.25 percent amid gloomy economic reports and tension over Greece.

Why Not Give the Greeks Their Say?

By FLOYD NORRIS

There is little reason to think that Greek citizens will be more cooperative in austerity now that it has been made clear their opinions are irrelevant to the people who run Europe.

Stocks Climb After Interest Rate Cut in Europe

By CHRISTINE HAUSER and DAVID JOLLY

Markets responded positively to the move by the European Central Bank to help stimulate growth.

DealBook

Many Alarms Rang Before MF Global Crashed

By SUSANNE CRAIG, BEN PROTESS and MICHAEL J. DE LA MERCED

For four months, regulators issued warnings that MF Global needed to raise more capital, but the firm's chief executive, Jon S. Corzine, resisted.

Multimedia

Video: TimesCast | November 3, 2011

Greece calls off its referendum as the Group of 20 leaders meet in Cannes, France; and Herman Cain accuses his rival Rick Perry of a smear campaign.

Opinion

Opinionator

Less Than $26 Billion? Don't Bother.

By EZEKIEL J. EMANUEL

These conservative and liberal plans for cutting health care spending are dead ends.

BUSINESS
DealBook

Jefferies Shares Swing on Sovereign Debt Fears

By MICHAEL J. DE LA MERCED and SUSANNE CRAIG

The volatility comes as Jefferies fights heightened fears about its exposure to European debt since the bankruptcy of MF Global.

DealBook

BNP Paribas Writes Down Greek Debt as Earnings Slump

By DAVID JOLLY

BNP Paribas, the largest French bank, said it was writing off 60 percent of the value of its Greek debt holdings, a belated acknowledgement that the loans were largely unrecoverable.

DealBook

Regulator Troubled by MF Global Dealings

By BEN PROTESS and AZAM AHMED

The top regulator tasked with overseeing the bankrupt brokerage firm said that the search continues for more than $630 million in missing customer funds.

DealBook

Barclays Chief Shifts His Tone on Banks' Blame for Crisis

By JULIA WERDIGIER

Robert E. Diamond Jr., the Barclays chief executive, is expected to say in a speech that banks should "accept responsibility for what has gone wrong," a shift from his criticism of "the blame game" earlier this year.

Bits Blog

Google Changes Search Algorithm, Trying to Make Results More Timely

By CLAIRE CAIN MILLER

Google made an unusually wide-reaching change to its search algorithm to show more real-time results.

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