Stories for February 4th 2010

Thursday, February 4th 2010 - 17:13 UTC
Kraft sealed Cadbury takeover as shareholders accept the deal

US food giant Kraft has sealed its takeover of British confectioner Cadbury after shareholders accepted the deal. The move means Kraft can press ahead with its five-month battle for control of Cadbury, which has 186 years of history as an independent company.
Thursday, February 4th 2010 - 17:09 UTC
US academic wants banks barred from gambling on world markets

A leading US academic who has been praised by the head of the Bank of England has called for banks to be barred from gambling on the world markets. Speaking on Jeff Randall Live, Professor Laurence Kotlikoff argued that the days of casino banking should be ended for good.
Thursday, February 4th 2010 - 16:24 UTC
Currency unions do not survive “without fiscal and political union”

The New York University professor who anticipated the financial crisis cautioned about the Greek situation and the Euro zone saying history indicates that no currency union has survived without a strong fiscal and political union.
Thursday, February 4th 2010 - 16:18 UTC
“Greek” syndrome hits Portuguese bonds and economic prospects

Portugal's debt agency IGCP cut its planned T-bill placement to 300 million Euros from 500 million on Wednesday as yields soared 49% compared to January's placement, following on events in Greece and Bank of Portugal Governor Vitor Constancio's gloomy comments on the country’s economy.
Thursday, February 4th 2010 - 16:15 UTC
European Commission supports Greece drastic fiscal cuts

The European Commission on Wednesday adopted Greece's fiscal cuts plan but placed the country under surveillance, while it decided to start procedures against Greece for failing to deliver credible fiscal statistics in the past.
Thursday, February 4th 2010 - 16:11 UTC
Chile enacts bill with sweeping changes to defence policy

Chilean president Michelle Bachelet promulgated this week a bill with sweeping changes in the Defence ministry and Armed Forces structure including the creation of a post equivalent to that of chairman of the Joint Chiefs of Staff.
Thursday, February 4th 2010 - 15:56 UTC
UK rejects Argentine protest; supports Falklands’ hydrocarbons industry

Britain rejected on Wednesday a protest from Argentina over recent decisions from several companies licensed by the Falkland Islands government, to begin drilling in waters surrounding the South Atlantic islands.
Thursday, February 4th 2010 - 14:20 UTC
“The Kirchners, growing richer and richer”

The controversial 2 million US dollar purchase former president Néstor Kirchner made in October 2008 has already made it to the foreign press. After the controversy, Spanish newspaper El País' headlines read: “The Kirchners, growing richer and richer.”
Thursday, February 4th 2010 - 14:07 UTC
Brazil’s best known writer against Blair as Olympics advisor

Brazil's best-known writer, Paulo Coelho, is making it clear he doesn't want Britain's former Prime Minister Tony Blair involved in planning for the 2016 Olympics in Rio de Janeiro.