International

Friday, January 30th 2009 - 20:00 UTC
Bankers at Davos call for a review of financial rules

The chairman of one of the world's leading banks headquartered in London, HSBC, Stephen Green has said that the current financial rules must be “fundamentally revised” as they had deepened the financial crisis.
Thursday, January 29th 2009 - 20:00 UTC
Unemployment reveals impact of crisis on real economy

The global economic crisis is expected to lead to a dramatic increase in the number of people joining the ranks of the unemployed, working poor and those in vulnerable employment, the International Labour Office (ILO) said in its annual Global Employment Trends report released on Thursday.
Thursday, January 29th 2009 - 20:00 UTC
Davos: China admits crisis; Russia cuts defence outlays

China admitted the global financial crisis has had “a rather big impact” on its economy and Russia warned of over relying on the US dollar as a reserve currency, at the major World Economic Forum meeting in Davos, Switzerland.
Thursday, January 29th 2009 - 20:00 UTC
Southern Ocean climate fix remains afloat

Plans to curb climate change by using plankton to draw carbon dioxide into the world's oceans have been boosted.
Thursday, January 29th 2009 - 20:00 UTC
China builds station on Antarctica's highest icecap

China set up this week its third Antarctic research station, also the country's first on the continent's inland. Kunlun station was erected at Dome Argus (Dome A), the South Pole's highest icecap at 4,093 metres above the sea level, reports the Beijing press.
Thursday, January 29th 2009 - 20:00 UTC
Broadband Internet access for all UK homes by 2012

Every home in the UK is to have broadband internet access by 2012 under Government plans. Lord Carter's Digital Britain report proposed to scrap BT's obligation to ensure every home has access to a telephone line and replace it with a requirement to provide broadband
Wednesday, January 28th 2009 - 20:00 UTC
Germany agrees on Merkel's “most difficult decision”

Germany's cabinet sealed a multi-billion stimulus package on Tuesday aimed at hauling Europe's biggest economy out of what is feared could be its worst slump for six decades.
Wednesday, January 28th 2009 - 20:00 UTC
Spanish bank Santander will pay back for Madoff

Two law firms have filed a class action lawsuit in the United States against Spain's Banco Santander and one of its subsidiaries to recover money lost in an alleged $50 billion Ponzi scheme orchestrated by U.S. financier Bernard Madoff.
Wednesday, January 28th 2009 - 20:00 UTC
IMF forecasts UK economy to contract 2.8% this year

The United Kingdom is expected to suffer the worst slump of all advanced nations in the “deepest recession since the Second World War”, according to the latest International Monetary Fund (IMF) World Economic Outlook.
Wednesday, January 28th 2009 - 20:00 UTC
Credit rating agencies admit errors before UK Parliament

Credit and risk rating agencies have admitted errors were made when assessing some of the financial instruments that have been blamed for the credit crunch. Representatives of the three main agencies - Standard & Poor's, Fitch, Moodys - were grilled by the House of Commons Treasury Select Committee