Tag: crisis

• Saturday, April 24th 2010 - 07:05 UTC

  US Credit Agencies Influenced by Banks that Paid Their Fees, Says US Senate

  

  The behaviour of two credit rating agencies in the run-up to the financial crisis has been criticised by US senators following an investigation.

• Saturday, April 24th 2010 - 01:32 UTC

  Could the Greek Crisis Spell the End of the Euro as a Currency?

  

  If Greece was to default it would effectively spell the end of the Euro as a currency, according to Royal Bank of Scotland's (RBS) strategist and chief European economist Jacques Cailloux.

• Saturday, April 24th 2010 - 00:53 UTC

  First Tremors of Euro Seism: Greece Asks for Financial Rescue Package

  

  Greece has formally asked for the activation of an EU-IMF financial rescue package to help pull the debt-ridden economy out of its crisis. It had hoped that just the promise of EU support, agreed last month, would have been enough to reassure markets and help its recovery.

• Friday, April 23rd 2010 - 01:26 UTC

  Latam growingly dependent on Chinese demand for commodities

  

  Latinamerican countries with a greater link to China such as Chile, Brazil and Peru are moving out of the crisis faster and stronger according to a World Bank report which underlines the increasing significance of the Asian giant for the region.

• Thursday, April 22nd 2010 - 02:43 UTC

  General Motors repay 8.1 billion to US and Canadian governments

  

  General Motors repaid Wednesday 8.1 billion US dollars in government loans, five years ahead of schedule and nine months after the troubled auto giant declared bankruptcy, signalling that the auto maker may be on the path to profitability.

• Wednesday, April 21st 2010 - 17:08 UTC

  UK unemployed reach 2.5 million in February, highest since 1994

  

  The number of people unemployed in the UK rose by 43,000 to 2.5 million during the three months to February, official figures have shown. The jobless total is now at its highest since 1994.

• Wednesday, April 21st 2010 - 16:48 UTC

  Ash-cloud cost airlines 1.7 billion; IATA calls for government compensation

  

  The International Air Transport Association (IATA) estimated that the Icelandic volcano crisis cost airlines more than 1.7 billion US dollars in lost revenue through Tuesday—six days after the initial eruption. For a three-day period (17-19 April), when disruptions were greatest, lost revenues reached 400 million USD per day.

• Wednesday, April 21st 2010 - 16:13 UTC

  IMF warns about asset bubbles in developing powers in Latam and Asia

  

  The International Monetary Fund (IMF) has urged developing powers in Asia and Latin America to guard against the kinds of asset bubbles that caused wealthier economies to plunge into recession in the last two years.

• Tuesday, April 20th 2010 - 14:42 UTC

  UK economy recovery forecasted towards the end of 2011

  

  Prospects for the UK's economic recovery remain poor this year with output growth of 1% or less predicted in 2010, a leading forecaster has warned. It also suggested that although consumer spending is on the rise, it will remain too weak to sustain a recovery this year as consumers try to pay off debts as quickly as possible.