The oil and gas boom in the United States was made possible by the extensive credit afforded to drillers. Not only has financing come from company shareholders and traditional banks, but hundreds of billions of dollars have also come from junk-bond investors looking for high returns.
UK interest rates have been held at a record low of 0.5% for another month by the Bank of England. It also decided to maintain its quantitative easing program, designed to stimulate lending in the economy, at the £375bn already spent.
HMS Iron Duke has paid an historic visit to Haiti, the first British naval vessel to the island nation since RFA Largs Bay delivered earthquake aid in 2010. Iron Duke is now reaching the end of her six month deployment of the South Atlantic and marked her entry into the Port of Cap Haitien with a 21 gun salute.
Latin America 'unfortunately' has a very low participation in world trade which is a major challenge for the region, according to Gonzalo Rodriguez, member of Mercosur technical staff, who was one of several speakers at the preamble of Unasur summit.
The European Central Bank (ECB) has stepped up plans for more stimulus measures aimed at revitalizing the Euro-zone economy, bank president Mario Draghi said on Thursday. His comments came after the ECB held interest rates at 0.05%.
Britain plans to introduce a tax to target multinationals such as Google and Amazon accused of using complex accounting schemes to cut their payments on earnings in the country.
Chile's first Mayors Climate Change Forum, a local government-led initiative focused on cities, local territories and climate change took place in late November with the support of the British Embassy in Santiago.
A new memorial to the Korean War, a conflict often dubbed ‘the forgotten war’ was unveiled on Wednesday at a ceremony in central London.The Korean War Memorial, a gift from the Republic of Korea to honor the British troops that served between 1950 and 1953, is in the form of a bronze statue of a British soldier by sculptor Philip Jackson.
A commemorative service at the naval church of St Martin-in-the-Fields, near Trafalgar Square, in London and a reception has been organized by the Falkland Islands Association to commemorate the Battle of Coronel (Nov. 1, 1914) and Battle of the Falklands (Dec. 8, 1914).
The Russian ruble suffered on Tuesday its biggest one-day decline since 1998 as oil prices continued to fall on Monday, escalating fears about the Russian economy. The currency slid almost 9% against the dollar before rallying after suspected central bank intervention.