Stories for February 2009
Latest News feedJapan falls deeper into recession
Japan’s economy is sinking deeper into recession, the country’s finance minister has warned, as new figures show industrial production plunged a record 10 per cent in January.
US troop pullout plan according Pte. Obama
Barack Obama, the US president, has announced that US combat forces will leave Iraq by August 2010.
Falkland Islands: Weekly Penguin News Update
Headlines: Neighbours from hell’ - Visiting MPs speak out about Argentina; Flying visit for Princess Royal; As Endurance prepares for a piggy-back home.
Argentina reacts strongly to CIA report on possible instability
The Argentine government summoned on Thursday the US ambassador in Buenos Aires to demand an explanation regarding a report from newly appointed CIA chief Leon Panetta which states that Argentina, given the current world crisis could face a serious economic situation and instability.
Italian cruise lands passengers following energy blackout
The Italian flagged cruise vessel Costa Romantica with 1.400 passengers that was anchored seven miles southwest of the Uruguayan coast after suffering a power blackout was heading Thursday evening for Punta del Este to disembark travellers who will continue their trip to Argentina by land and ferry.
UK banks and regulators point fingers to political sector
The chairman of United Kingdom’s Financial Services Authority has said its failure to spot the banking crisis in advance was partly due to the style of regulation. A “light touch” approach at the City watchdog had been seen as politically preferred, Lord Turner said.
Obama unveils 3.6 trillion 2010 budget; 250 billion for banks
President Barack Obama has unveiled a 3.6 trillion US dollars budget for 2010, aiming to pull the US out of financial crisis. Obama predicted the budget deficit for the current year will be 1.75 trillion US dollars, which is 12.3% of annual output and the biggest since World War II.
UK scheme to unload banks’ toxic assets and recover confidence
The United Kingdom Treasury has launched a taxpayer-backed scheme to insure banks’ riskiest assets against further losses. The scheme aims to clean up banks’ balance sheets and to encourage them to lend more freely.
British catholic bishop apologizes over Holocaust controversy
A British bishop whose denial of the Holocaust embroiled Pope Benedict XVI in controversy has apologised for his remarks, a Catholic news agency said. Bishop Richard Williamson, with the conservative Society of St Pius X, had faced worldwide criticism over a television interview in which he said no Jews were gassed during the Holocaust.
Banker challenges PM Brown “failure should not be rewarded”
Former Royal Bank of Scotland boss Sir Fred Goodwin has written to the Treasury indicating he will not voluntarily give up his pension, it has been revealed. Sir Fred is coming under increasing pressure to give up at least part of the pension, worth an estimated ?693,000-a-year, which he is already receiving at the age of 50 under an early retirement deal agreed with the RBS board when he was forced out last October.
