International

Wednesday, October 15th 2008 - 20:00 UTC
Krugman: no return to Marx but to Franklin Roosevelt

Paul Krugman, who won this year's Nobel Prize for economics, told CNBC that the Treasury Department's move to inject banks with 250 billion US dollars is better than the original bailout plan.
Wednesday, October 15th 2008 - 20:00 UTC
Nobel praise for PM Brown financial rescue plan

In an article titled “Gordon does Good” published Monday in the New York Times the Princeton University scholar lavished praise on Brown for his timely action against the ongoing financial turmoil.
Wednesday, October 15th 2008 - 20:00 UTC
Captain of ship wrecked on Gibraltar cliffs, free on bail

Gibraltar Police arrested the captain and two officers of the cargo ship Fedra, which ran aground on the sheer cliffs of Europa Point last Friday in extreme weather, reports the Gibraltar Chronicle.
Wednesday, October 15th 2008 - 20:00 UTC
IMO agrees guidelines to contain shipping emissions

The United Nations International Maritime Organization, IMO has reported major progress on efforts to cut polluting and global warming emissions from ships, achieve more environmentally friendly recycling of vessels and prevent contamination from harmful organisms in ballast.
Wednesday, October 15th 2008 - 20:00 UTC
Oil prices drops to 74.40 USD,lowest in over twelve months

Oil prices fell sharply on Wednesday as investors and officials said the global financial crisis could slash demand for energy. The price of crude oil for future delivery dropped more than 4 USD or more than 5%, to 74.50 USD a barrel during trading in New York.
Tuesday, October 14th 2008 - 20:00 UTC
Japan's Nikkei joins other Asian markets strong rebound

Financial markets in Asia have risen sharply, with Japan's Nikkei gaining 10% in early trading Tuesday, and Sydney up 5%. The gains came after Wall Street shares rocketed 11% on Monday as investors welcomed fresh moves to deal with the worldwide financial crisis. Japan was closed Monday because of a national holiday.
Tuesday, October 14th 2008 - 20:00 UTC
Soros: market fundamentalism out, serious recession in

British-Hungarian financier and philanthropist George Soros warned in an interview with Budapest's Nepszabadsag newspaper that it is too early to say if markets will stabilize after last week's panic and described the current situation as the crisis of a lifetime.
Monday, October 13th 2008 - 20:00 UTC
UK rescue plan to support four of the largest banks

Up to £50bn of taxpayers' cash is to be injected into four of Britain's biggest banks through the government's rescue package, the BBC has learned. Royal Bank of Scotland (RBS), HBOS, Lloyds TSB and Barclays is to sell off shares, the majority of which the government is expected to buy.
Monday, October 13th 2008 - 20:00 UTC
Asian test of weekend financial decisions reacting positively

Asian markets have reacted positively to efforts by world leaders to end the recent financial turmoil. Sydney's benchmark index leapt 5.5%, as markets in South Korea and Singapore opened up around 3%. Tokyo's market was closed for a public holiday.

EU leaders earlier said no big bank would be allowed to fail, as they agreed a plan to tackle the crisis.
Monday, October 13th 2008 - 20:00 UTC
Bush critic and trade expert Nobel Prize for Economics

United States economist Paul Krugman, a well-known critic of the President George Bush administration for policies that he argues led to the current financial crisis, won the 2008 Nobel Prize for economics on Monday.