Business & Economy

Warnings mount on euro crisis, BRICS mull more aid

David Lawder and Walter Brandimarte GMA News 23.09.2011
Warnings mount on euro crisis, BRICS mull more aid

World leaders and finance chiefs pushed Europe to quell its debt crisis and big emerging economies said they might provide more money to help stop the chaos from spreading.

Moody's downgrades big US banks on changed policy

Joe Rauch and David Henry Reuters 22.09.2011
Moody's downgrades big US banks on changed policy

Moody's Investors Service lowered debt ratings for Bank of America Corp, Citigroup Inc and Wells Fargo & Co on Wednesday, saying the U.S. government is getting less comfortable with bailing out large troubled lenders.


Asia's growing middle class fuels theme park boom

Mickey Mouse, Hello Kitty and Lego bricks will all find new homes in Asia over the next few years as the disposable incomes of the region's newly affluent fuel a boom in theme park construction.

Bad policy decisions could push the US into a 'lost decade' and put the eurozone into recession, warns IMF

Bad policy decisions could condemn the US to a "lost decade", tip America and the eurozone back into recession, and lead to "stagnation" in the world's major economies, the International Monetary Fund (IMF) has warned.


Florida firm welcomes clients with AK-47

A Florida company is giving new clients a voucher to buy an AK-47 assault rifle to defend themselves from violent crime.

Standard and Poor's cuts Italy ratings one notch, outlook negative

Standard and Poor's downgraded its unsolicited ratings on Italy by one notch to A/A-1 and kept its outlook on negative, a major surprise that threatens to add to concerns of contagion in the debt-stressed euro zone.


Lenders press Greece to shrink state and avoid default

George Georgiopoulos and Ingrid Melander Reuters 20.09.2011
Lenders press Greece to shrink state and avoid default

International lenders told Greece on Monday it must shrink its public sector to avoid running out of money within weeks, as investors spooked by political setbacks in Europe dumped risky euro zone assets.

The future of Greece rests on a phone call

Helena Smith The Guardian 19.09.2011
The future of Greece rests on a phone call

Europe's debt crisis has intensified after Greece's embattled government said the country's financial future would rest on a make-or-break conference call with EU and IMF officials on Monday.


Geithner's "succinct" message irks Europeans

John O'Donnell and Robin Emmott Reuters 17.09.2011
Geithner's "succinct" message irks Europeans

It was an unprecedented visit designed to spur the euro zone into action. But Treasury Secretary Timothy Geithner's high-profile trip to Europe left some European officials more dumbstruck than starstruck.

PE firms circling AOL turn attention to Yahoo

Jennifer Saba Reuters 17.09.2011
PE firms circling AOL turn attention to Yahoo

The troubles at Yahoo Inc are proving to be a headache for AOL, that other deeply challenged Internet company trying to turn around its fortunes.


Esprit Hiring Manager for China, Where It Seeks to Double Sales

Esprit Holdings Ltd., the Hong Kong-listed clothing retailer that makes most of its sales in Europe, is hiring a manager for China as it plans to more than double sales in the world’s most-populous nation in four years.

Europe's debt crisis prompts central banks to provide dollar liquidity

Larry Elliott, Dominic Rushe The Guardian 16.09.2011
Europe's debt crisis prompts central banks to provide dollar liquidity

Fears of a deepening of Europe's debt crisis have prompted the world's leading central banks to pump US dollars into the financial system, in a co-ordinated action designed to boost market confidence.


MTV's 'Jersey Shore' costs taxpayers $420K

MTV's "Jersey Shore" GTL motto might now stand for gym-tax credit-laundry instead of gym-tan-laundry. The state Economic Development Authority on Wednesday approved covering $420,000 of the production costs for the hit reality series' inaugural 20...

Asia's thirst for wine cheers investors

Ivan Zhang FinanceAsia 15.09.2011
Asia's thirst for wine cheers investors

Asia's growing thirst for fine wine has helped Hong Kong become the world's biggest centre for auction sales, and makes a compelling case for investment, according to wine auctioneer Acker Merrall & Condit.


'Political Dysfunction' at Root of World's Troubles: U.S. Treasury Secretary

The global economy is being held back in part by political problems that are complicating an array of other forces that have conspired against growth, U.S. Treasury Secretary Tim Geithner said.

EU warned of credit crunch threat; Moody's downgrades 2 French banks

John O'Donnell and Lionel Laurent Reuters 15.09.2011
EU warned of credit crunch threat; Moody's downgrades 2 French banks

European finance ministers have been warned confidentially of the danger of a renewed credit crunch as a "systemic" crisis in euro zone sovereign debt spills over to banks, according to documents obtained by Reuters on Wednesday.


Asia drawing more Americans seeking career opportunities

For years, foreigners have come to Asia for adventure and career development as its economies have developed at a breakneck speed. But this trend is accelerating after the recession as booming Asian nations provide jobs and other business opportun...

Asian cities become more expensive

With currencies in Asia rising and the U.S. dollar weakening, Asian cities are now ranking higher on the list of most expensive metropolises. The appreciating RMB is putting Beijing and Shanghai on the map.


HSBC to Apply for Extra Quota for Yuan Bond Investments in China

HSBC Holdings Plc, Europe's biggest bank, said it will apply for an additional investment quota to buy bonds in China as its yuan deposits in Hong Kong surge.

GE to Buy Back Shares From Buffett Next Month

(..) General Electric GE officially notified Berkshire Hathaway on Tuesday it intends next month to repurchase the $3 billion of preferred stock it sold him in October 2008.



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