International

• Thursday, February 26th 2009 - 23:00 UTC

  Banker challenges PM Brown “failure should not be rewarded”

  

  Former Royal Bank of Scotland boss Sir Fred Goodwin has written to the Treasury indicating he will not voluntarily give up his pension, it has been revealed. Sir Fred is coming under increasing pressure to give up at least part of the pension, worth an estimated ?693,000-a-year, which he is already receiving at the age of 50 under an early retirement deal agreed with the RBS board when he was forced out last October.

• Thursday, February 26th 2009 - 23:00 UTC

  British catholic bishop apologizes over Holocaust controversy

  

  A British bishop whose denial of the Holocaust embroiled Pope Benedict XVI in controversy has apologised for his remarks, a Catholic news agency said. Bishop Richard Williamson, with the conservative Society of St Pius X, had faced worldwide criticism over a television interview in which he said no Jews were gassed during the Holocaust.

• Thursday, February 26th 2009 - 23:00 UTC

  UK scheme to unload banks' toxic assets and recover confidence

  

  The United Kingdom Treasury has launched a taxpayer-backed scheme to insure banks' riskiest assets against further losses. The scheme aims to clean up banks' balance sheets and to encourage them to lend more freely.

• Thursday, February 26th 2009 - 23:00 UTC

  UK banks and regulators point fingers to political sector

  

  The chairman of United Kingdom's Financial Services Authority has said its failure to spot the banking crisis in advance was partly due to the style of regulation. A “light touch” approach at the City watchdog had been seen as politically preferred, Lord Turner said.

• Wednesday, February 25th 2009 - 23:00 UTC

  Gibraltar “nothing to fear” from tougher EU controls

  As European Union leaders met over the weekend in Berlin ahead of the G20 summit in April, Gibraltar Chief Minister Peter Caruana has welcomed the call for a tightening of regulatory standards, transparency and co-operation of financial markets on a global basis.

• Wednesday, February 25th 2009 - 23:00 UTC

  Success of Polar Year confirms worst climate change fears

  

  Scientists and policymakers marked the official end of the International Polar Year (IPY) Wednesday at the World Meteorological Organization in Geneva. The 60-country, 1.2 billion US dollars effort has seen knowledge about the poles - and their influence on the rest of the planet - increase hugely.

• Wednesday, February 25th 2009 - 20:00 UTC

  UK Jan car production plummets 58.7% over a year ago

  

  United Kingdom car production for January fell 58.7% against the same month the previous year, latest figures show. A total of 61,404 cars were manufactured in January 2009, the Society of Motor Manufacturers and Traders said.

• Tuesday, February 24th 2009 - 20:00 UTC

  Madrid makes formal protest over royal visit to Gibraltar

  

  Spain has complained officially to Britain over next week's visit of Princess Anne to Gibraltar, labelling it as “inopportune” reported Tuesday the Gibraltar Chronicle. The Princess Royal is due to open a medical centre named after her but which Spain says is particularly sensitive to them because it is on “the disputed isthmus”.

• Tuesday, February 24th 2009 - 20:00 UTC

  World Bank downgrades Latam 2009 growth to 0.3%

  

  Latinamerican growth will plunge strongly this year to 0.3% forecasted Pamela Cox, World Bank vice-president for Latinamerica and the Caribbean. Last September the WB forecast was 2.7%, in January it was down to 1% and now 0.3%.

• Monday, February 23rd 2009 - 20:00 UTC

  European leaders agree to regulate all financial markets

  

  European leaders in Berlin have agreed on the need to regulate all financial markets including hedge funds and underlined that a global solution was needed to the current financial crisis.