Economy

• Thursday, February 4th 2010 - 17:17 UTC

  As China tries to cool economy asset bubbles fears emerge in Brazil

  

  Brazil, Latinamerica’s largest economy is feeling the consequences of China’s moves to rein in an overheated economy and global fears of asset bubbles in attractive fast developing economies. The strongest warning came this week from the Organization for Economic Cooperation and Development, OECD.

• 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.

• Wednesday, February 3rd 2010 - 12:28 UTC

  The top banking brands according to The Banker magazine

  

  HSBC has retained its place as the most valuable banking brand in the world. This is the third year in a row The Banker magazine and Brand Finance have awarded the self-styled “World's Local Bank” the title. The giant has increased its brand value by 12% to 28.5 billion US dollars.

• Wednesday, February 3rd 2010 - 12:10 UTC

  Australian Central bank takes a pause: leaves rates unchanged at 3.75%

  

  Australia's central bank Tuesday left interest rates on hold at 3.75%, surprising analysts by ending a sequence of three consecutive rises, but hinted at further hikes to come.

• Wednesday, February 3rd 2010 - 09:57 UTC

  OECD recommends Yuan appreciation to cut China’s dependence on exports

  

  The Yuan needs to appreciate to reduce China's dependence on exports for growth, says the Organisation for Economic Co-operation and Development. OECD argues that more exchange rate flexibility and targeting inflation would help economic stability in China.

• Tuesday, February 2nd 2010 - 13:01 UTC

  How far can Argentina’s Central bank’s 48 billion USD reserves be stretched?

  

  The dispute between Argentine president Cristina Fernandez de Kirchner and the governor of the Central Bank over who is entitled to use the international reserves triggered a legal and political battle that is ongoing.