Economy

• Saturday, January 16th 2010 - 07:04 UTC

  Mayor Johnson says top bankers fleeing from London over taxes

  

  Thousands of high-earning bankers will flee London because of the Government's taxation policy, Mayor Boris Johnson has warned. He has written to Chancellor Alistair Darling asking for a meeting to discuss his introduction of a 50p income tax rate for top earners and a temporary 50% levy on banking bonuses over £25,000.

• Saturday, January 16th 2010 - 07:01 UTC

  China’s overseas investments expand 6.5% in 2009; 40% forecasted in 2010

  

  China's overseas investment in non-financial sectors rose 6.5% last year from 2008 despite the economic downturn, the government said Friday, as the nation kept up its global hunt for resources.

• Friday, January 15th 2010 - 09:38 UTC

  Brazilian project to cut poverty to “developed countries’ level” in six years

  

  Brazil could achieve social indicators similar to those of developed countries by 2016 if the country is able to maintain the same rate of extreme poverty reduction and income redistribution as recorded during the 2003/2008 period, according to an official report from the Presidential Strategic Affairs Secretariat.

• Friday, January 15th 2010 - 06:37 UTC

  Judge Griesa lifts freeze on Argentine funds to help with planned “debt swap”

  

  A New York State Judge lifted a freeze on Argentine Central Bank accounts held in the US Federal Reserve, Argentina's Finance secretary told reporters on Thursday. The freeze has been imposed on request from investors holding defaulted Argentine sovereign bonds.

• Friday, January 15th 2010 - 06:16 UTC

  Jobs of the future: space pilot, human body part maker or climate change averter

  

  Tomorrow's job hunters could be applying for the position of space pilot, human body part maker or climate change averter, according to a British government commissioned report.

• 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 - 12:04 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.