Placing a huge bet on the global commodities boom, the world's biggest heavy machinery maker, Caterpillar Inc., announced plans Monday to acquire mining equipment company Bucyrus International for 7.6 billion US dollars.
In spite of healthy economic growth in Latin America, local and foreign companies alike single out one area as deficient, especially compared with Asia: infrastructure.
Ireland is in talks with European officials about current “market conditions” as Germany pushes it to accept a bailout and help reverse a bond sell-off across the euro-region’s periphery.
Leaders of the 21-member Asia-Pacific Co-operation (Apec) forum have pledged to move towards creating a regional free-trade area. The agreement was announced at the end of a two-day summit in Yokohama, Japan.
French President Nicolas Sarkozy reappointed Francois Fillon as prime minister on Sunday, but named new defense and foreign ministers in a cabinet reshuffle ahead of the 2012 presidential election.
Irish Finance minister Brian Lenihan has welcomed a statement of support over Ireland's debts from Germany, Britain, France, Italy and Spain. The five countries attending the G20 summit in South Korea said that bondholders would not be forced to share the pain of the current debt crisis.
It wasn't just the rain-swept, cold day in London that was sending a chill wind down the back of tourism bosses from Western Europe. As heads of the global travel industry met for their annual gathering at the giant World Travel Market (WTM) 2010 event, the damage being caused by the continuing high value of the Euro was the dark cloud hanging over the representatives from Euro zone nations.
Leaders of the Group of 20 (G20) member nations meeting in Korea reached a vague compromise Friday on currency and trade issues, calling for a workable resolution for the next G20 summit in France, slated for November next year.
Leaders of the Group of 20 (G20) member nations meeting in Korea are expected to reach a compromise Friday on trade and currency issues that have so far marred the spirit of the global gathering, in a bid to make headway in the G20 process and keep the two-year-old global policy forum afloat.
Spain’s economy stalled in the third quarter as the deepest austerity measures in three decades, aimed at taming the Euro region’s third-biggest budget deficit, undermined the recovery from an almost two-year recession.