EU agrees new Economic sanctions against Russia
2014-07-29 16:01:02 UTC
European Union governments reached a deal on Tuesday to impose economic sanctions against Russia, targeting its oil industry, defence, dual-use goods and sensitive technologies.
The sanctions will be reviewed after three months, a diplomat said...
Banks accused of rigging silver price
2014-07-28 07:18:06 UTC
Deutsche Bank, HSBC and Bank of Nova Scotia have been accused of attempting to rig the price of silver, in a lawsuit filed in the US.
The plaintiff alleges the banks, which set the price of silver each day, abused their position in the market.
Russia's surprise interest rate rise 'to curb inflation'
2014-07-26 23:03:37 UTC
Russia's central bank has unexpectedly raised its key bank interest rate over concerns about inflation and "geopolitical tension".
The bank's board decided to raise the interest rate by 50 basis points, or half a percent, to 8% per year.
EU sanctions weaken anti-terror efforts - Russia
2014-07-26 22:52:51 UTC
Russia says new EU sanctions against it over the Ukraine crisis will jeopardise security co-operation against terror.
The Russian foreign ministry said the EU would bear the blame for the move which sees 15 officials and 18 entities subject to ...
Germany: Russia should be stripped of World Cup 2018 after MH17 attack
2014-07-24 21:07:33 UTC
“Firstly, the safety of players and fans cannot be guaranteed” in Russia, said Bernd Fabritius, an MP. “And secondly, a country that behaves like a rogue state should not be rewarded with such an international media event.”
The calls served to un...
Detroit showing signs of recovery ahead of bankruptcy trial
2014-07-20 22:18:51 UTC
Detroit neighbourhoods are being relit, its vacant homes are being sold off or torn down, its public transportation is cleaner and more often on schedule and the city has renegotiated some burdensome union contracts.
In the little more than a y...
Obama Announces Expanded Sanctions Against Russia
2014-07-17 04:57:52 UTC
The Obama administration is imposing new, deeper sanctions on Russia for its intervention in Ukraine, targeting Russian banks and energy and defense firms.
“Given its continued provocations in Ukraine, today I have approved a new set of sanctio...
How Germany's 14-Year Plan Destroyed Brazil
2014-07-11 19:39:40 UTC
By the end it was hard to watch Germany’s 7-1 demolition of Brazil. Poor Andre Schürrle, the substitute who came in at striker for Germany in the second half, couldn’t quite celebrate his two goals the way Thomas Müller had when he scored the firs...
The Squeeze on Renters Is Getting Worse
2014-07-11 19:13:00 UTC
Summer’s traditionally when moving vans clog the streets as people try to get settled in new homes and apartments before the school year starts. Renters looking for an affordable lease this year may have a tough time finding one.
Puerto Rico: Tropical Tax Haven for America's Super-Rich
2014-06-27 18:57:51 UTC
It’s 2 a.m. at the La Factoria bar in Puerto Rico’s Old San Juan, a hipster joint with a sagging couch, tile floors, and Christmas lights that wouldn’t be out of place in Brooklyn’s Williamsburg. While Get Lucky plays, tipsy couples slink out the ...
Putin’s Economic Model Showing Strain
2014-06-27 18:50:56 UTC
Russia warned Ukraine today that it faces “grave” economic consequences, including potential new restrictions on trade, after President Petro Poroshenko signed a free-trade agreement with the European Union.
Such retaliation would certainly har...
Obama asking Congress for $500m to train 'moderate' Syrian rebels
2014-06-27 17:29:03 UTC
The Obama administration has proposed escalating US involvement in the Syrian civil war, asking Congress for $500m for the US military to train and equip "moderate" Syrian rebels.
The request to Congress on Thursday, heralded by Barack Obama's ...
Barclays bank sued by New York
2014-06-25 22:54:47 UTC
The New York attorney general has sued Barclays, accusing the British bank of misrepresenting the safety of its US-based alternative trading system, or "dark pool", to investors.
Eric Schneiderman said on Wednesday that contrary to its own assu...
Obama encourages employers to adopt family-friendly policies
2014-06-24 06:30:42 UTC
President Barack Obama is encouraging more employers to adopt family-friendly policies by hosting a daylong summit on Monday, even though the US government doesn't always set the best example.
The United States is the only industrialized nation...
US manufacturing grows faster than expected in June
2014-06-24 06:30:33 UTC
The US manufacturing sector grew faster than expected in June reaching levels unseen in four years, according to a key industry report released on Monday.
After shaking off the after effects of the US's unusually harsh winter, financial data fi...
Federal Reserve cuts growth forecasts
2014-06-19 05:38:13 UTC
The Federal Reserve insisted that the US economy is strong enough to withstand a cut to its stimulus program, despite being forced once again to cut its growth forecasts.
In its updated economic forecast on Wednesday, the Federal Reserve's pict...
Foreign investment into China falls in May
2014-06-17 08:38:06 UTC
Foreign investment in China fell in May to its lowest level in 16 months, partly due to slowing growth.
The government says China attracted $8.6bn (£5.1bn) in foreign direct investment (FDI) in May.
That is a 6.7% fall from the same period l...
IMF slashes estimate for US economic growth in 2014
2014-06-16 16:17:48 UTC
The International Monetary Fund slashed its forecast for US economic growth on Monday, citing a harsh winter, problems in the housing market and weak international demand for the country's products.
In its annual review of the US economy, the I...
India's economic growth at an annual rate of 4.6%
2014-06-01 06:42:58 UTC
India's economic growth has remained subdued, due largely to a slowdown in the manufacturing sector, official figures have shown.
The economy grew at an annual rate of 4.6% between January and March, below analysts' forecasts and the same pace ...
After EU elections - Business as usual?
2014-05-28 12:30:14 UTC
The euro barely showed any reaction at all to the outcome of the elections for the EU parliament. At 1.36, the exchange rate for the dollar was almost the same on Monday morning as it was on Friday - two days before the polls.
In fact, most marke...
Hyperinflation Idea: Printing Money for aid
2014-05-12 07:00:58 UTC
In much of the Western world, two highly successful economic policy initiatives are coming to an end. Quantitative easing, the creation of money by central banks to purchase financial assets, is likely to have run its course in most countries by t...
IMF approves $17bn Ukraine bailout package
2014-05-01 09:37:13 UTC
The International Monetary Fund (IMF) has approved a $17.1bn (£10.1bn) bailout for Ukraine to help the country's beleaguered economy.
The loan comes amid heightened military and political tension between Ukraine and neighbouring Russia.
G7 have agreed to impose new sanctions against Russia
2014-04-26 08:21:32 UTC
The major powers in North America and Europe as well as Japan agreed on Saturday to impose new targeted sanctions against Russia over its role in the Ukraine crisis.
"Given the urgency of securing the opportunity for a successful and peaceful dem...
US and EU discuss sanctions against Russia: 'We will have to act'
2014-04-25 17:03:39 UTC
A statement released by the White House on Friday said that US President Barack Obama had reached a consensus on how to move forward on the Ukrainian crisis, during a conference call involving German Chancellor Angela Merkel, British Prime Ministe...
Russia’s Gazprombank Preparing for U.S. Sanctions Over Ukraine
2014-04-25 09:21:33 UTC
OAO Gazprombank executives are readying Russia’s third-largest lender for possible U.S. sanctions as the Obama administration prepares its response to escalating tensions in Ukraine, according to two people with knowledge of the deliberations.