Economy

Wednesday, September 24th 2008 - 21:00 UTC
Bernanke & Paulson didn't fully convince skeptic US Senators

United States lawmakers have expressed strong skepticism about a bail-out of the banking system, following a five-hour Senate hearing on the rescue plan. Treasury Secretary Henry Paulson told the banking panel that delaying the 700 billion US dollars bail-out would put the entire US economy at risk.
Wednesday, September 24th 2008 - 21:00 UTC
Beijing bankers fear the impact on China of financial crisis

Hot debates about the evolving, if not worsening, global financial crisis offer much needed food for thought as China's financial development enters a new era, but few disagree on the need of further financial reforms, according to a leading Chinese banker.
Wednesday, September 24th 2008 - 21:00 UTC
Preventive liquidity injection to Brazil's banking system

With the purpose of injecting liquidity and preserve Brazil from the impacts of the US financial crisis, the country's monetary authorities eased rules on reserve requirements that banks must keep at the Central Bank.
Wednesday, September 24th 2008 - 21:00 UTC
Sarkozy's proposal to regulate “crazy” system in G8 agenda

The Group of 8 of industrialized countries will consider a proposal by French President Nicolas Sarkozy for a leaders' summit to overhaul the world's financial system in the wake of a crisis that has rocked markets.
Wednesday, September 24th 2008 - 21:00 UTC
Uruguay's winter crops area jumps 49% to 593.000 ha.

Uruguay's winter crops area has increased 49% over a year ago totaling 593.000 hectares (399.000) according to the country's Agriculture Ministry Statistics Office, DIEA-MGAP.
Tuesday, September 23rd 2008 - 21:00 UTC
World markets results tied to outcome of US bail out plan

Shares in Asia opened on Tuesday lower amid uncertainty about the impact of the massive US financial bail-out plan. The falls followed a sharp slide in the US, where the Bush administration has been discussing the 700 billion rescue plan with Congress.
Monday, September 22nd 2008 - 21:00 UTC
Wall Street purge: Mitsubishi buys stake in Morgan Stanley

Japanese banking giant Mitsubishi UFJ Financial Group announced Monday it will buy a stake in troubled Wall Street investment bank Morgan Stanley. The firm said the stake will account for 10% to 20% of Morgan Stanley's common shares.
Monday, September 22nd 2008 - 21:00 UTC
Germany partly blames US and UK for financial turmoil

German chancellor Angela Merkel said that the United States and British governments are partly responsible for the current international financial crisis for having supported markets' resistance to be submitted to voluntary regulations.
Monday, September 22nd 2008 - 21:00 UTC
Stiglitz says bailout plan is “monstrous” for US taxpayers

Economy Nobel Prize Joseph Stiglitz described as “monstrous” for US taxpayers the current bail out plan for the financial sector announced by Washington over the weekend.
Monday, September 22nd 2008 - 21:00 UTC
Cristina announces possible deal with bonds' “hold outs”

Argentine President Cristina Fernandez de Kirchner announced Monday in New York her administration was considering a proposed deal with holdout creditors who rejected the country's 2005 sovereign debt swap and have since used the courts to try to seize Argentine assets abroad.