New round of sanctions against Russia
The United States and Europe have targeted Russia's key financial and energy sectors with a third round of sanctions. The sanctions comes in response to what the West says is Moscow's military support for Ukrainian separatists. The Kremlin denies the claims and says the sanctions are counterproductive. The latest measures are not just hitting Russia though.
Argentina holds last minute talks as default looms
Argentina is holding last minute talks in an effort to reach a deal with either the courts or holdout creditors by midnight New York time. At stake is more than a Billion euros worth of bond repayments. But if that group of investors get the full payment they're demanding, that could open the door for the other bond holders who'd accepted a writedown after the last default.
Portugal's Espirito Santo Bank is in crisis
Portugal's Espirito Santo family business has survived wars, dictatorship, revolution and family feuds for almost 150 years. Now one of Europe's last banking dynasties is being stripped of its wealth and influence amid accounting irregularities, huge unreported debts, and a police investigation. The news of Espirito Santo Group's financial plight has sent its shares plummeting.