Greek Officials Ratify Austerity Measures, Stocks Rally (GOOG, MCD)
After tense opposition at the end of last week, the Greek Parliament finally ratified the austerity measures necessary to get the latest bailout package that European officials agreed upon. Major indices jumped between half of and close to 1 percent, with the S$P 500 exceeding $1,350. In corporate news, the European Union approved Google's (GOOG) acquisition of Motorola Mobility, the last step in assuring the acquisition takes place. McDonald's (MCD) meanwhile responded to Humane Society complaints by asking its suppliers to phase out the close confinement of pregnant sows.
Word on the Street
- The Greek parliament approved the austerity plan that their bailout was contingent on.
- The Consumer Financial Protection Bureau put out a draft of a proposed monthly mortgage statement.
- President Obama is proposing a more progressive tax on dividends.
- The real estate company that owns the Empire State Building is filing for IPO.
- The European Union approved the acquisition of Motorola Mobility by Google (GOOG).
- McDonald's (MCD) will ask suppliers to phase out of using hog crates.
Published on Feb 13, 2012By InvestorGuide Staff