Greece is voicing new confidence that it will be able to carry out its austerity plan in order to receive more international financial assistance in time to avoid a default next month. Greek Prime Minister George Papandreou told German business leaders Tuesday that his government is making a “superhuman effort” to cut its debt. He […]
Greece Says It Will Get New Bailout Money, Avoid Default
Posted September 27th, 2011 at 9:26 am (UTC-5)
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Computer Industry: Good Laws Boost Invention
Posted September 26th, 2011 at 10:55 pm (UTC-5)
A study by a computer industry group says the United States still leads the world in information technology, but that India, Malaysia and China are making strides to catch up. In a report published Tuesday, the Business Software Alliance says technology innovation is critical because it boosts productivity and spurs economic growth. The BSA study […]
US New Home Sales Continue to Slide
Posted September 26th, 2011 at 12:19 pm (UTC-5)
The number of new homes sold in the United States fell to a six-month low in August, and sales are on pace for the worst year since the government began keeping records a half century ago. The government said Monday that new home sales dropped for the fourth straight month, down 2.3 percent, to an […]
European Leaders Still Grappling with Greek Debt Crisis
Posted September 26th, 2011 at 10:00 am (UTC-5)
European finance officials are still grappling with the Greek debt crisis after returning home from inconclusive talks at the International Monetary Fund in Washington over the weekend. The United States and other nations are pressing European leaders to drastically increase the size of the continent’s $594 billion bailout fund, perhaps by several trillion dollars. But […]
Greece Faces New Round of Strikes
Posted September 26th, 2011 at 8:31 am (UTC-5)
Greece is facing a new round of transport strikes and protests over austerity measures enacted to satisfy international creditors. Commuters in Athens faced 24-hour strikes from metro, tram and suburban rail workers Monday, while buses and trolleys were to stop running for several hours in the middle of the day. Airline passengers also faced delays […]
German Business Confidence Dips in September
Posted September 26th, 2011 at 5:50 am (UTC-5)
German business confidence dropped in September for the third consecutive month. The Munich-based Ifo Institute said Monday that the decline showed German companies were skeptical about the future and not looking for any external boost to the German economy. The drop was not as much as had been expected, but still reflected concerns about the […]
Greek Finance Minister: Don’t Make Greece Scapegoat for Global Economy
Posted September 25th, 2011 at 5:26 pm (UTC-5)
Greek Finance Minister Evangelos Venizelos said Greece must not be made the scapegoat for the world’s financial problems. He vowed that Greece will stay in the Eurozone. Venizelos spoke in Washington Sunday as the World Bank and International Monetary Fund wrapped up their annual meetings. Greece was a major topic. Venizelos said there has been […]
IMF Stresses Coordinated Action To Tackle Global Financial Dangers
Posted September 24th, 2011 at 4:09 pm (UTC-5)
Top officials from two of the world’s largest economies are urging Europe to move now in order to stop the continent’s debt crisis from undermining the global economy. U.S. Treasury Secretary Timothy Geithner and China’s central bank governor Zhou Xiaochuan delivered their warnings during speeches to leaders of the International Monetary Fund Saturday. Geithner called […]
US, China Warn Europe Time for Financial Action is Now
Posted September 24th, 2011 at 2:39 pm (UTC-5)
Top financial officials from two of the world’s largest economies are urging Europe to move now in order to stop the continent’s debt crisis from undermining the global economy. U.S. Treasury Secretary Timothy Geithner and China’s central bank governor Zhou Xiaochuan delivered their warnings during speeches to leaders of the International Monetary Fund Saturday. Geithner […]
US Warns Europe Time for Financial Action is Now
Posted September 24th, 2011 at 11:18 am (UTC-5)
The top U.S. finance official is sending a warning to his European counterparts, telling them they must act now to stop the continent’s debt crisis from spreading. U.S. Treasury Secretary Timothy Geithner told leaders of the International Monetary Fund Saturday that European governments must work closely with the European Central Bank to make sure no […]
