July 19, 2012 -- 9:00 a.m. EDT
Buyers Spurn Spanish Debt
LONDON—Spain, the euro zone's most precarious country, raised just under €3 billion in a bond auction Thursday morning, but it paid handsomely to do so amid signs of rapidly evaporating demand for its debt.
In the secondary market, traders sold off Spanish bonds. The 10-year bond yielded 7.03%, according to Tradeweb, up slightly from Wednesday. The euro dipped Thursday morning to $1.2275 from $1.2283 Wednesday evening.
Follow every article, blog post, video and tweet on the debt crisis from our reporters across Europe.
Big Banks Prepare Another Round of Cuts
Bank of America and Credit Suisse Group announced plans Wednesday for new cost cuts following hefty belt-tightening at both institutions last year.
• Deutsche Bank to Cut Investment-Bank Jobs
• Credit Suisse Reverses Course on Capital
U.S. Stock Futures Gain
U.S. stock futures rallied as some upbeat results from technology heavyweights and broad gains in overseas markets kept investors in an optimistic mood ahead of a flurry of economic news.
• MarketBeat: Tech Rebound Poised to Continue
• Live: Markets Pulse
Peregrine's Struggle to Stay Airborne
In the months before its collapse, the futures brokerage and its founder, Russell Wasendorf Sr., showed increasing signs of strain.
Capital One Dealt Fine For Pitch to Customers
Capital One will pay $210 million to settle a regulatory probe alleging that the company failed to properly monitor third-party sales of consumer credit-protection products such as identity-theft-monitoring services.
Viacom Criticizes DirecTV
Viacom lashed out at DirecTV, saying the satellite-TV operator is impeding efforts to find a resolution to the week-old black-out of its cable channels.
Tiny Markets Looking Good
As they flee the euro-zone debt crisis, a growing number of large global bond funds are diving into the shallow debt markets of small countries like Serbia, Iraq and Hungary.
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Wall Street For Morgan Stanley's Chief, Brokerage Bet Comes to Fore
Morgan Stanley chief James Gorman hasn't lost conviction in his crisis-era bet on retail brokerage, even as investors grow dim on the venture. A progress report is expected as the Wall Street bank releases earnings this morning.
Morgan Stanley Profit, Revenue Tumble
Morgan Stanley's second-quarter profit dropped 50%, missing analysts' estimates, as the investment bank saw a double-digit decline in revenue with a weak performance from its institutional securities business.
Group Comes to Romney's Defense American Crossroads, a GOP-aligned PAC, will begin an $8.8 million ad buy to defend Romney from Democratic charges that he helped ship U.S. jobs abroad.
• Ad: 'Obama Can't Run on That Record'
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Vote Requires Detailing of Budget Cuts
House lawmakers voted overwhelmingly for a bill that would require the Obama administration to specify how it would make $110 billion in required federal spending cuts next year.
Arts & Entertainment Emmy Nominations 2012: Watch the Announcement Live
The 64th Primetime Emmy Awards nominations are being announced this morning at 8:40 a.m. ET from North Hollywood. "Mad Men," "Game of Thrones," "Breaking Bad," "Homeland," "Downton Abbey" and "Modern Family" are expected to be among the leading nominees.
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