‘Economy’ Archives
How panhandlers use free credit cards
What would happen if, instead of spare change, you handed a person in need the means to shop for whatever they needed? What would they buy? Can you spare your credit card, sir? In New York City, an advertising executive recently handed over her American Express Platinum Card to a homeless Manhattan man after he had asked her for change. The [...]
Extrajudicial killings mar new Colombia presidency
BOGOTA — Juan Manuel Santos will inherit Colombia's "false-positive" scandal of grisly army killings when he takes over the presidency this Saturday. The scandal, in which the army presented civilians as guerrillas or paramilitaries who had died in combat, overlapped some of the period when Santos was defense minister, from 2006-2009. The [...]
BP replaces CEO and posts $17 billion quarterly loss
by Tom Bergin (Reuters) - Oil giant BP Plc launched a plan to repair its battered image in the United States on Tuesday, ditching its gaffe-prone chief executive and promising to slim down by trebling an asset sale target to $30 billion. However, the company, the target of public anger over its Gulf of Mexico oil spill, tempted further ire [...]
German Bonds Rise as Bernanke Pessimism Outweighs European Economy Growth
German bonds rose after U.S. Federal Reserve Chairman Ben S. Bernanke said he was prepared to increase stimulus measures and said the economic outlook is “unusually uncertain.” German two-year notes advanced for a third straight day, pushing the yield down to the lowest in more than a week, even as reports indicated accelerating euro-region [...]
Goldman tries to block Australian legal action
The investment bank Goldman Sachs is reportedly trying to stop Australian legal action against it being heard in the United States. The Australian fund manager Basis Capital is suing Goldman for about $1 billion in damages and losses for selling it an investment which it says caused the failure of one of its hedge funds. Basis Capital's [...]
Ireland’s credit rating gets downgraded
PARIS — Ireland’s efforts to pull out of a deep economic slump suffered a setback Monday when a major credit agency downgraded the country’s bond rating, citing a weak banking system and rising debt. Moody’s Investors Service downgraded Ireland one notch, to Aa2 from Aa1, although it remains comfortably above junk level. Moody’s [...]
MP’s grant US authorities access to European bank accounts
Euro MPs have approved a new deal to allow US anti-terror investigators to access Europeans' bank data. The vote followed tough negotiations with US authorities after a previous agreement was blocked by the European Parliament in February. Read the rest here: http://news.bbc.co.uk/2/hi/world/europe/10552630.stm
Analysis: China makes haste slowly globalizing the yuan
(Reuters) - Each journey of a thousand miles begins with a single step. Yet for the trek of turning the yuan into a global currency, China is only just lacing up its boots. According to this skeptical line of thinking, it will take Beijing a generation to make the yuan a fully convertible currency that can rub shoulders with the dollar and the [...]
UN is pushing for a one world currency, scrap the dollar
UNITED NATIONS - A new United Nations report released on Tuesday calls for abandoning the US dollar as the main global reserve currency, saying it has been unable to safeguard value. But several European officials attending a high-level meeting of the UN Economic and Social Council countered by saying that the market, not politicians, [...]
Hypocrisy of the World Bank: Guyana
They have an incredible agenda, so here's a piece that happen in Guyana, a small country in north South America World Bank not interested in tit-for-tat with Guyana Govt. It would be inappropriate and as such the World Bank will not get into any tit-for-tat with the Government of Guyana. This was the response by the entity’s representative [...]
