Hiroko Masuike/The New York Times Andreas C. Dracopoulos, co-president of the Stavros Niarchos Foundation. ATHENS — While money pours out of Greek banks, and Europe debates whether Greece deserves its next handout, the people potentially in the best position to help shore up the nation’s finances are mainly keeping their heads down. They are among the wealthiest Greeks — whether shipping magnates, whose tax-free status is enshrined in the constitution, or the so-called oligarchs who have accumulated vast wealth via their dominance in core areas of the economy like oil, gas, media, banking and even cement. Astute investors, they have been reluctant to lend a hand to the Greek treasury through the risky proposition of buying government bonds. But they have also been slow to ... Continue reading →

Hong Kong Short Selling of Stocks Surges to 13-Year High By Kana Nishizawa - 2012-05-24T03:12:01Z Enlarge image Hong Kong Short Selling of Stocks Surges to Highest in 13 Years Daniel J. Groshong/Bloomberg Traders monitor transactions at the Hong Kong Exchanges and Clearing Ltd. (HKEx) in Hong Kong, China. Traders monitor transactions at the Hong Kong Exchanges and Clearing Ltd. (HKEx) in Hong Kong, China. Photographer: Daniel J. Groshong/Bloomberg May 24 (Bloomberg) -- Peter So, co-head of research at CCB International Securities Ltd., talks about China's economy, monetary and fiscal policies, and his investment strategy. China’s leaders pledged to intensify "fine-tuning" of policies in the second government statement in four days signaling a commitment to growth as domestic demand slows and Europe’s debt crisis escalates. So ... Continue reading →

Ken Loach, left, at the Cannes photocall for The Angels' Share with the film's leading actor, Paul Brannigan. Photograph: Tony Barson/FilmMagic The team behind The Angels' Share, Britain's sole hope in the race for this year's Palme D'Or, has launched an attack on the "hypocrisy" of the British Board of Film Classification, which demanded the removal of several instances of the word "cunt" from the film – a whisky-heist comedy set among working-class Glaswegians.According to director Ken Loach, pictured, discussions with the film censor entered the "world of surrealism". He said: "We were allowed seven cunts… but only two of them could be aggressive cunts."Scriptwriter Paul Laverty said that the BBFC was insensitive to the context of the word's use. "'You wee cunt' is often ... Continue reading →

Enlarge image Greek Euro Exit Kostas Tsironis/Bloomberg A customer withdraws cash from an ATM operated by the National Bank of Greece SA in Athens. A customer withdraws cash from an ATM operated by the National Bank of Greece SA in Athens. Photographer: Kostas Tsironis/Bloomberg Greece may have only a 46-hour window of opportunity should it need to plot a route out of the euro. That’s how much time the country’s leaders would probably have to enact any departure from the single currency while global markets are largely closed, from the end of trading in New York on a Friday to Monday’s market opening in Wellington, New Zealand, based on a synthesis of euro-exit scenarios from 21 economists, analysts and academics. Over the two days, leaders ... Continue reading →