International

Friday, December 10th 2010 - 01:59 UTC
Parmalat Calisto Tanzi sentenced to 18 years in prison for 18.6 billion bankruptcy

The founder of Italian dairy food company Parmalat, Calisto Tanzi, has been sentenced to 18 years in prison for his role in the company's collapse seven years ago. Parmalat buckled in December 2003 under a18.6 billion US dollars hole in its accounts.
Thursday, December 9th 2010 - 21:00 UTC
One in four admit having paid bribes last year, says Transparency International

Corruption has increased over the last three years, say six out of 10 people around the world, and one in four people report paying bribes in the last year. These are the findings of the 2010 Global Corruption Barometer, a worldwide public opinion survey on corruption, released on International Anti-Corruption Day, 9 December, by Transparency International (TI).
Thursday, December 9th 2010 - 16:31 UTC
Moody’s rates Uruguay just below ‘investment grade’ but next step 'distant'

Moody's Investors risk Service raised the sovereign foreign currency credit rating for Mercosur member Uruguay by two notches to Ba1 from Ba3 on Wednesday, leaving it just below investment grade, citing improved debt and fiscal indicators.
Thursday, December 9th 2010 - 15:46 UTC
UK Treasury increases bank levies, ‘fair contribution to the public coffers’

The United Kingdom Treasury has raised the rate it will impose on banks under its new levy in 2011 and 2012. The Treasury said in draft legislation for the Finance Bill 2011 that the levy for 2011 will be 0.05% of total liabilities rather than the 0.04% announced in June. The levy for 2012 will rise to 0.075% instead of the previously proposed plan levy of 0.07%.
Thursday, December 9th 2010 - 15:34 UTC
Bank of England decision on further liquidity injection expected for February

The Bank of England’s monetary policy committee (MPC) voted Thursday to hold the base interest rate at its record low of 0.5%. As expected, the Bank did not extend its £200 billion program of quantitative easing and is not expected to make a decision on whether to follow the US Federal reserve with a second bout of economy boosting bond-buying – or QE2 – until February.
Thursday, December 9th 2010 - 15:21 UTC
Foreign Secretary lays out policy to help Commonwealth achieve its potential

British Foreign Secretary William Hague laid a statement in Parliament on how the UK plans to reinvigorate the Commonwealth with a vision to strengthen the Commonwealth as “a focus for promoting democratic values and development”.
Thursday, December 9th 2010 - 08:45 UTC
“Mario (Vargas Llosa) the only thing you’re good for is writing”

In his acceptance speech as winner of the Nobel Prize in Literature, entitled “In Praise of Reading and Fiction”, (*) Peruvian writer Vargas Llosa paid tribute to his mother, his grandfather Pedro and his uncle Lucho.
Wednesday, December 8th 2010 - 17:14 UTC
China creates and awards “Confucius Peace Prize” ahead of Oslo’s ceremony

A newly formed Chinese organization says it will award its own peace prize on Thursday, a day before the Nobel Peace Prize is awarded in Norway to imprisoned Chinese dissident Liu Xiaobo.
Wednesday, December 8th 2010 - 17:11 UTC
US dollar to strengthen, but US fiscal health worse than Europe’s warns China

The U.S. dollar will be a safe investment for the next six to 12 months because global markets are focused on the Euro zone's troubles but the US fiscal health is worse than Europe's, an adviser to the Chinese central bank said on Wednesday.
Wednesday, December 8th 2010 - 17:04 UTC
Brazilian iron-ore giant Vale traded at a premium in Hong Kong market debut

Brazilian corporation Vale, the world's biggest iron ore miner, listed on Wednesday at the Hong Kong stock exchange where it traded at a premium to New York's close, as the company looks to raise its profile among Asian investors.