It happened. The unstoppable earthquake of the EU's debt crisis has at last shaken my savings jar. And I had imagined that I was far away and protected. "Shares of Israeli investment company Koor Industries Ltd. (KOR.TV) closed down sharply Thursday after Credit Suisse Group AG (CS), of which Koor owns 2.48%, was urged by the Swiss National Bank to halt dividends." This is the second or third round of increasing their capital adequacy required to protect themselves against escalating risks in the European banking sector. IDB Holdings, Israel largest corporation and owner of Koor, is practically broke. Its bonds are yielding now 50%. Pic.: California.
1 comment:
OT: Arabs don't like them either.
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