Car industry urges bold action over euro debt crisis

Car industry executives from around the globe urged Europe's politicians to take bolder steps to solve the bloc's two-year-old debt crisis, warning its single currency could be derailed without more decisive action.

The euro was under pressure again on Tuesday with debt markets increasingly pricing in a Greek sovereign debt default and the U.S. government voicing its alarm at Europe's inability to get a grip on the crisis.

Debt crisis in euro zone likely to drive crude oil futures higher

Inventories of crude oil are likely to drop for a second-straight week in the U.S., pushing up oil prices on Tuesday, according to published reports.

In anticipation of a not-yet released report from the U.S. Department of Energy stating supplies dropped by as many as 3 million barrels because of tempests manifesting in the Gulf of Mexico, the energy commodity gained in value in the U.S., which is the globe's top consumer of oil. Bloomberg reports the immediate climb was roughly 2 percent within hours of the opening bell on Tuesday morning.

Euro crisis rains on UK bank reform's parade

Reforms proposed this week could make British bank shares attractive again, ringfenced from investment banking risk, but in the short term they are irrelevant to investors running scared of the euro zone debt perils.

A government-sponsored commission unveiled reforms on Monday that said banks should shield retail units from riskier investment banking and hold billions more in extra capital.

German court rejects challenge to eurozone bailouts

Germany's highest court has rejected a challenge to the country bailing out other nations in the eurozone.

The Constitutional Court was responding to a challenge brought by six prominent German Eurosceptics.

But the court did say the government must seek the approval of the German parliament before providing future assistance.

Swiss Central Bank's Gamble on Euro-Zone Crisis

Even the winners from the crisis are starting to suffer.

The Swiss National Bank has set out to halt the franc's relentless appreciation by pledging to buy unlimited amounts of foreign currency. After seeing the euro move close to one Swiss franc in August from 1.25 franc at the start of the year, the SNB has drawn a line in the sand at 1.20 franc. The euro zoomed 8.8% higher against the franc Tuesday, and the 1.20-franc level held. But this is a big gamble.