European Union President Herman Van Rompuy says the continent is losing momentum in trying to resolve its three-year debt crisis. Van Rompuy on Monday said European leaders must not lose the sense of urgency to tighten economic reforms and cut deficits. He said Europe is slipping into recession and officials are worried about the pace […]
Van Rompuy Sees Loss of Urgency on Euro Crisis
Posted September 24th, 2012 at 7:20 pm (UTC-5)
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Van Rompuy Sees Loss of Urgency on Euro Crisis
Posted September 24th, 2012 at 10:30 am (UTC-5)
A key European leader says the continent is losing momentum in trying to resolve its three-year governmental debt crisis. European Union President Herman Van Rompuy said Monday he sees “a tendency of losing the sense of urgency” to tighten economic reforms and cut deficits. But he stressed that “this must not happen.” Van Rompuy said […]
Greek Austerity Talks with Creditors Stall Again
Posted September 21st, 2012 at 10:40 am (UTC-5)
Greece’s negotiations with its international creditors over more austerity budget-cutting remain unresolved. Negotiators for the International Monetary Fund, the European Union and the European Central Bank are meeting again Friday with Greek officials, but then plan to leave Athens for a week. The lenders are demanding that the Greek government impose more wage and pension […]
Taiwan Firm Fined $500 Million in US Price-Fixing Case
Posted September 20th, 2012 at 3:45 pm (UTC-5)
A U.S. judge has fined a Taiwanese electronics firm $500 million in a conspiracy to fix prices for liquid-crystal-display panels, in one of the largest penalties ever in an American anti-trust case. Judge Susan Illston imposed the sentence Thursday in San Francisco against the AU Optronics company. She also sentenced two of its former executives, […]
Investors Reimbursed $2.5 Billion in US Fraud Case
Posted September 20th, 2012 at 2:00 pm (UTC-5)
Nearly $2.5 billion has been sent this week to victims of a massive fraud case in the U.S. Court authorities said Thursday they mailed checks averaging about $2 million to 1,230 investors who were defrauded by one-time financial manager Bernard Madoff. The investors were victims of Madoff’s long-running Ponzi scheme in which he collected more […]
US Demographic Changes Hint at Economic Recovery
Posted September 20th, 2012 at 11:25 am (UTC-5)
A new survey of changing population trends in the U.S. suggests that the country’s sluggish economy could be advancing from the depths of the recession several years ago. Unemployment is still high in the United States — more than 8 percent for 43 straight months. But a report Thursday by the U.S. Census Bureau said […]
Japan Central Bank Expands Its Economic Stimulus
Posted September 19th, 2012 at 9:40 am (UTC-5)
The Japanese central bank has expanded its stimulus program to try to boost the country’s sluggish economy, joining its counterparts in the U.S. and Europe in easing the flow of money. The Bank of Japan Wednesday added $126 billion to its asset-purchase fund, pushing it to $695 billion, in an effort to advance the world’s […]
US – China Trade Dispute Heats Up
Posted September 17th, 2012 at 10:30 am (UTC-5)
Trade disputes between the United States and China are heating up, as Washington complains about Chinese auto parts and Beijing files a complaint about a new U.S. tariff law. Monday, China went to the World Trade Organization accusing the United States of unfairly raising tariffs on 30 products, including tires and kitchen appliances. Beijing’s action […]
US – China Trade Dispute Heats Up
Posted September 17th, 2012 at 9:10 am (UTC-5)
Trade disputes between the United States and China are heating up, as Washington complains about Chinese auto parts and Beijing files a complaint about a new U.S. tariff law. Monday, China went to the World Trade Organization accusing the United States of unfairly raising tariffs on 30 products including tires and kitchen appliances. Beijing’s action […]
World Stock Indexes Jump on US Economic Boost
Posted September 14th, 2012 at 1:40 pm (UTC-5)
Stock markets in Asia and Europe surged Friday as investors cheered the U.S. central bank’s aggressive actions to boost the sluggish American economy. The Hong Kong index advanced nearly 3 percent and the Tokyo market almost 2 percent. Stock indexes in London, Frankfurt and Paris closed higher, while key exchanges in the U.S. moved upward […]
