Ben Bernanke’s testimony on economic outlook, monetary & fiscal policy (FULL-TEXT)
Chairman Ben S. Bernanke testimony on The Economic Outlook and Monetary and Fiscal Policy Before the Committee on the Budget, U.S. House of Representatives, Washington, D.C. February 9, 2011
Unrest and strike in Darjeeling, India threatens local tea economy
The fatal shooting of three separatists in the India’s tea-producing regions of Darjeeling in West Bengal state have prompted an indefinite strike that is likely to shut down the local economy.
UK government irons out pact with major banks over lending, and pay
The British government has entered into a comprehensive agreement with the nation’s largest banks on matters related to lending, transparency and bonuses payments to executives, after four months of negotiations and wrangling.
Can 2011 be worse for bonds than 1994?
While 1994 was dubbed as the worst year for fixed income investors, we believe that the next twelve months could be even worse
London Stock Exchange seeks to merge with Toronto's TMX
The London Stock Exchange Group plc (LSE) said that it is in advanced negotiations with the operator of the Toronto Stock Exchange, the TMX Group, regarding a potential merger.
Stocks rise, Dow gains for 7th straight day
The Dow Jones Industrial Average scores its seventh straight daily gain, as U.S. stocks seemed to shrug off another interest rate hike by the central bank of China.
Ireland faces bleak recovery: NCB
As Ireland slowly recovers from its financial crisis, the economy will not be able to create any jobs and consumer spending will remain depressed, according to a study by NCB Group, the Dublin-based financial services firm.
Syria lifts ban of Facebook
The government of Syria has agreed to life a five-year bank on Facebook in what is most likely a concession to its people amidst growing discontent across the Arab world over state repression.
Iran’s opposition seeks permission to march in support of Egyptian protesters
Iran's opposition leaders have asked permission to stage a protest in Tehran next week to express solidarity with ongoing protests in Tunisia and Egypt.
Facebook chief gets restraining order against male stalker
Mark Zuckerberg, the multi-billionaire CEO of Facebook, has obtained a restraining order against a man who has sent him messages through Facebook, left flowers and a handwritten note at his home and showed up in person at Facebook officers looking for him.
South Africa minister warns against nationalization of mining industry
A battle is brewing over control of South Africa’s key mining sector.
Chipotle Mexican Grill fires hundreds of workers amidst immigration investigation
Restaurant chain Chipotle Mexican Grill Inc. (NYSE: CMG) has apparently fired hundreds of workers in Minnesota in the wake of a probe into the company’s hiring practices by the Immigration and Customs Enforcement (ICE), according to a report in The Wall Street Journal.
Britain hikes bank levy
The British government said it will increase the levy on banks by £800-million to £2.5-billion this year – and that it will be permanent.
Column: Republicans battling for Jewish votes might be futile
One of the many ironies of American politics is that while top Republican politicians are eager to show their support for the state of Israel, Jewish voters in the U.S. remain overwhelmingly in the camp of the Democratic Party.
Chechen leader claims he ordered Moscow airport attack [VIDEO]
A Chechen warlord – one of the most wanted men in Russia – has taken responsibility for carrying out the suicide bomb attack last month which killed 36 people and injured 180 in a Moscow airport.
Stocks advance on merger deals
Stocks advanced as a series of merger deals excited investors, pushing the blue-chip indices to two-and-a-half-year highs in the absence of significant economic news.
Bush cancelled trip to Europe over fears of protest violence, possible arrest warrant
George W. Bush, the former president of the U.S., cancelled a trip to Switzerland for next weekend due to potential protest demonstrations by human rights groups over the treatment of prisoners at Guantánamo Bay as well as the threat of his arrest
Florida governor proposes almost $5-bln spending cuts; 8,700 in state job reductions
Republican Governor Rick Scott, who was just elected last November in a very close race, unveiled a budget that envisions $5 billion in spending cuts and almost 9,000 jobs slashed from the public sector.
FDIC proposes curbs on bankers bonuses
The Federal Deposit Insurance Corp. (FDIC) has proposed new rules that will mandate large financial institutions to delay payment of 50 percent of executive bonuses for a period of three years in order to discourage risky financial activities.
Mubarak may go to German hospital for “prolonged health check”: report
The German newspaper Der Spiegel is reporting that the U.S. government has devised a plan for the president of Egypt Hosni Mubarak to exit the country gracefully by going to a hospital in Germany to seek medical treatment and a “prolonged health check.”
Amtrak plans $13.5-billion New York-New Jersey tunnel link
U.S. government-owned rail operator Amtrak said plans to construct a railway tunnel that will link New York City and New Jersey at a cost of $13.5-billion.
Nokia shares are up on executive shake-up speculation
Shares of Nokia (NYSE: NOK) are moving higher Monday on speculation that the mobile phone maker will soon engineer a major reshuffling of its management and board as the company tries to wrestle back domination of the premium handset market.
Egypt government hikes state workers pay by 15%
The government of Egypt – which remains the target of continued violence from protesters seeking to remove the regime’s head, President Hosni Mubarak, has approved a 15 percent pay hike for government employees – no doubt to appease the concerns of its base of support.
French foreign minister under pressure to resign over handling of Tunisian crisis
The French Foreign Minister Michèle Alliot-Marie is coming under severe criticism, including demands for her resignation, following her handling of the Tunisian crisis.
UK personal insolvencies hit record high last year; 2011 may be even worse
Personal insolvencies in Britain reached an all-time high in 2010, with 135,089 bankruptcies recorded (up 0.7 percent from the prior year), although the trend has been declining since the second quarter of last year, according to The Insolvency Service.
Italian government website hacked: ANSA
The Italian government’s website had been hacked over the weekend by a group of software experts called “Anonymous,” apparently as a protest against Prime Minister Silvio Berlusconi.
10,000 UK police jobs to vanish within two years
At least 10,190 uniformed police officers across England and Wales will lose their jobs by 2013 due to the coalition government’s severe budget cuts, according to a study by the opposition Labour Party
Spaniards flocking to Germany for jobs
Seeking to flee extraordinarily high rates of unemployment in their country, thousands of young Spaniards are seeking to find jobs in Germany.
Iraqi PM won’t run again
The political unrest in the Arab countries may have even touched the most dangerous country in the Muslim world, war-ravaged Iraq. According to state media, Prime Minister Nouri Maliki has said he will not seek a third term in office after his current one expires in 2014.
Anti-Muslim group rallies in English town
A protest by the extreme right wing, anti-Muslim, anti-immigrant English Defence League (EDL) in the city of Luton has ended without any serious incidents, amidst a large police presence