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Fears over Portugal caused the cost of insuring European sovereign debt against default to rise to a new high. Portugal, Spain and Greece are all issuing bonds this week.

According to the article Germany and France are urging Portugal to use the protection of Europe’s new bailout facility as they think Portugal could get the cold shoulder from the capital markets.
Bank of England says net lending to business dropped by £3.4bn in May after a drop of £6bn in April.
Make no mistake - we are selling off our future and the future of our children to prevent the bondholders of U.S. financial corporations from taking
Highland Capital Management is closing its third hedge fund in less than five months, with investors in a collateralized debt obligation vehicle losi
Kanjorski says US 3 hours from complete economic collapse due to run on money market funds. Fed didn't have enough money to buy toxic assets
Belgium and France to bail out Dexia, world’s biggest lender to local governments
For a while it looked like JP Morgan had escaped the worst effects of the credit crash but hat first quarter profit fell by half
Fears that many will be unable to meet repayments or get re mortgaged the FSA will offer mortgage repayment help and advice.
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