Even as the White House and congressional Republicans crafted an end-of-the-year tax and spending deal in Washington, they set the stage for more rancorous debate in the coming weeks over financial issues they sidestepped. The House of Representatives on Tuesday was considering whether to give its assent to a Senate-approved measure to keep tax rates […]
Cash-Strapped Detroit Avoids Takeover by State Government
Posted April 5th, 2012 at 1:05 am (UTC-5)
Leaders in cash-strapped Detroit, Michigan have approved a plan that would give the state a bigger role in the city, the historical home of the U.S. auto industry. The state’s governor had threatened to appoint an emergency manger to take control of the city The City Council voted 5-4 Wednesday to approve an agreement between […]
Hong Kong Tops Survey of Financial System Strength
Posted December 14th, 2011 at 5:15 am (UTC-5)
Hong Kong has become the first Asian financial center to top an annual survey of the world’s most developed financial systems. The World Economic Forum released its annual report on Tuesday. The report says Hong Kong’s rank was bolstered by strong scores in the non-banking financial services such as initial public offerings and insurance. It […]
Hong Kong Tops Survey of Financial System Strength
Posted December 14th, 2011 at 1:55 am (UTC-5)
Hong Kong has become the first Asian country to top an annual survey of the world’s most developed financial systems. The World Economic Forum released its annual report on Tuesday. The report says Hong Kong’s rank was bolstered by strong scores in the non-banking financial services such as initial public offerings and insurance. It is […]
Greek Prime Minister Promises to Fulfill Commitments
Posted September 27th, 2011 at 7:31 am (UTC-5)
Greek Prime Minister George Papandreou has promised that Greece will fulfill its financial obligations incurred during the ongoing debt crisis. He made the comments Tuesday at a German industry forum in Berlin. Both Mr. Papandreou and German Chancellor Angela Merkel were to address the German Federation of Industry forum before meeting to further discuss the […]
Germany, France Call for Common Eurozone Economic Government
Posted August 16th, 2011 at 1:35 pm (UTC-5)
The leaders of Germany and France are calling for a common economic government for the 17 nations that employ the euro currency and said all the countries should approve laws by the middle of next year requiring mandatory balanced budgets. After meeting in Paris Tuesday, French President Nicolas Sarkozy said he and German Chancellor Angela […]
European Economic Growth Slows Markedly
Posted August 16th, 2011 at 11:50 am (UTC-5)
Economic growth slowed markedly in the April-to-June period in the 17-nation European bloc that employs the common euro currency, stoking new fears of another global recession. The European Union reported Tuesday that the economy in the euro region grew just two-tenths of one percent in the second quarter, a quarter of the rate in the […]
European Economic Growth Slows Markedly
Posted August 16th, 2011 at 9:40 am (UTC-5)
Economic growth slowed markedly in the April-to-June period in the 17-nation European bloc that employs the common euro currency, stoking new fears of another global recession. The European Union reported Tuesday that the economy in the euro region grew just two-tenths of one percent in the second quarter, a quarter of the rate in the […]
Sarkozy, Merkel to Discuss Eurozone Debt Crisis
Posted August 16th, 2011 at 3:35 am (UTC-5)
The leaders of Germany and France will meet in Paris on Tuesday to discuss the debt crisis sweeping the 17-nation eurozone. German Chancellor Angela Merkel and French President Nicolas Sarkozy are expected to discuss ways to improve economic governance in an effort to convince investors that European governments are doing enough to contain the crisis. […]
ECB Spends $32 billion to Back Italy, Spain
Posted August 15th, 2011 at 3:15 pm (UTC-5)
The European Central Bank says it spent almost $32 billion on government debt last week to prop up the bond markets of Spain and Italy. The news comes just one day before the leaders of Germany and France meet in Paris to discuss the debt crisis sweeping the 17-nation eurozone. Both German Chancellor Angela Merkel […]
