Stories for January 2010

Friday, January 15th 2010 - 06:09 UTC
Obama to slap 117 billion USD levy on banks to repay for bail outs

President Barack Obama has said Wall Street must repay 117 billion US dollars to taxpayers and criticised banks for “massive profits and obscene bonuses”. The tax is to recoup money US taxpayers are expected to lose from bailing out the banks during the financial crisis.
Friday, January 15th 2010 - 05:28 UTC
Euro-zone countries “need bold measures to improve confidence”

The European Central Bank left interest rates on hold at their historic low of 1% at its first meeting for the year Thursday amid concerns about Greece's debt crisis.
Thursday, January 14th 2010 - 12:16 UTC
Haiti with no relief for thousands of injured and buried in the rubble

Haitian President Rene Preval has said thousands of people are feared dead following a huge quake which has devastated the country's capital. Mr Preval said the UN mission chief in Haiti was among the dead. It said at least 14 other UN staff had died and 56 were injured.
Thursday, January 14th 2010 - 12:12 UTC
Argentina vows to press on with debt swap of defaulted bonds

Argentina vowed on Wednesday to press on with a debt swap targeting 20 billion US dollars in defaulted bonds in spite of the political turmoil. The announcement had an immediate reaction in the stock market and Argentine bonds.
Thursday, January 14th 2010 - 12:07 UTC
Petrobras expands its operations to Portugal and Turkey

Brazil’s government managed oil giant Petrobras is in talks to buy a stake in Portugal’s Galp Energia, Brazil’s Mines and Energy Minister Edison Lobao told reporters Wednesday in Brasilia.
Thursday, January 14th 2010 - 12:04 UTC
A Greek “headache” for the European Central Bank and interest rates

The Euro-zone is facing one of its most serious internal crises ever as European Central Bank (ECB) governors meet on Thursday, with fiscal problems in Greece and other members of the bloc pushing interest rate issues to the background.
Thursday, January 14th 2010 - 12:00 UTC
Brazil elected to board of directors of Bank for International Settlements

Brazil’s Central bank president Henrique Meirelles was elected to the board of directors of the Bank for International Settlements, a further sign of the country's increasing clout in the world economy.
Thursday, January 14th 2010 - 11:56 UTC
Germany experienced during 2009 the largest ever decline in 60 years

Germany's largely export-driven economy recorded its biggest-ever decline since World War II in 2009: 5%. The country also breached the EU's deficit limit.
Thursday, January 14th 2010 - 11:54 UTC
No end on sight to US budget deficit: one trillion USD in fiscal 2010

United States registered its largest December budget deficit on record as higher unemployment reduced revenue and the government spent money to help the economy recover.
Thursday, January 14th 2010 - 09:58 UTC
Brazil’s main private bank forecasts “aggressive” policy to counter inflation

Brazil will boost interest rates to as high as 13% next year as policy makers become more “aggressive” to ensure the global economic recovery doesn’t fuel faster inflation, according to Bradesco Asset Management