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Yet another deadline has passed without resulting in an agreement on the terms for establishing a new rescue package for Greece. The 130 billion euro ($170 billion) in emergency funding earmarked for Greece is contingent on the Greek government agreeing to, and abiding by, a program of severe spending cuts to address the country’s chronic overspending.

Patience is wearing thin amongst the “troika” comprised of the European Central Bank, the International Monetary Fund, and the European Commission that will provide and oversee the funding. The mounting frustration was evident in comments German Chancellor Angela Merkel made yesterday before the press in Paris:

“We want Greece to stay in the euro,” she told a news conference. But she added: “I want to make clear once again that there can be no deal if the troika proposals are not implemented. They are on the table, time is of the essence. Something needs to happen quickly.”

Source: Reuters

As Iran continues to grapple with the West over its nuclear ambitions, experts say the nation could double its already sizable oil output if sanctions were lifted to allow foreign investment into its oil industry.

Andy Zaky has called a bottom for the fifth time in a row

Andy Zaky has called a bottom for the fifth time in a row

FORTUNE: Bullish Cross’ Andy Zaky, never shy about tooting his own horn, has asked me to remind readers that on Thursday, with Apple (AAPL) trading just over $530, he announced that the share price was at or near a bottom and was about to bounce.

“Those who have been waiting for a correction in Apple to buy the stock,” MORE

JPMorgan Chase’s multibillion trading loss will be forgotten before the year is through, Chief Executive Jamie Dimon predicted Monday at the Deutsche Bank Global Financial Services Investor Conference.

As Iran continues to grapple with the West over its nuclear ambitions, experts say the nation could double its already sizable oil output if sanctions were lifted to allow foreign investment into its oil industry.

Coming months will determine whether Greece will keep paying its bills and remain in the euro, moves that have huge implications for the global economy.

A plunge in Facebook’s stock didn’t faze the broader U.S. market Monday. U.S. stocks bounced back from their worst week of the year on renewed optimism that European leaders would find a way out of the sovereign debt crisis.

Facebook’s stock slid below its offering price in early trading Monday, following a lackluster day of trading when the stock debuted.

Facebook’s stock slid below its offering price in early trading Monday, following a lackluster day of trading when the stock debuted.

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