Morning Business Report
There are signs of progress from Europe as the region’s governments work on a new plan to bail out Greece and protect the banks from exposure to sovereign debt problems in several nations.
Euro-Zone leaders have agreed banks will have to raise the amount of capital they hold faster than originally planned. And work continues on a much larger bailout fund to protect Europe’s weaker economies from facing a run on their bonds. A major package might be announced at the next Euro-Zone meeting, which is Wednesday.
The Obama administration is working on a new plan to boost refinancing for homeowners. The aim is to make it easier for homeowners who are under water to get lower-rate interest loans. Many would be able refinance their mortgages no matter how much the values of their homes have fallen. The plan might streamline refinancing by eliminating appraisals. Homeowners who have not fallen behind on the monthly payments would qualify.
The stock market rose again last week. The Dow and other market averages have been up three weeks in a row. U.S. stock futures are up this morning.
Google and Microsoft might jump into the bidding for Yahoo, lending financial support to private equity firms considering a buyout. Despite its struggles, Yahoo remains one of the most visited sites on the Web. Yahoo has been shopping itself to potential buyers.