Debt is capitalism’s dirty little secret
By Ben Funnell, June 30 2009 19:14
Just why is there so much debt in the Anglo-Saxon world? Bankers and regulators know well that it is in nobody’s long-term interests to have allowed borrowing to escalate to a position where the US now owes far more, as a multiple of the [...]
by RGE Monitor, July 1 009
Today we look at U.S. and global efforts to reduce carbon emissions and slow global warming. Last Friday, June 26 2009, The U.S. House of Representatives approved the landmark America Clean Energy and Security Act by a narrow seven vote margin, including 44 no votes from Democrats. The legislation, also [...]
Eurozone inflation turns negative
By Ralph Atkins in Frankfurt, June 30 2009 11:03
Eurozone annual inflation has turned negative for the first time, complicating the job of the European Central Bank as draws a line under emergency measures to tackle continental Europe’s recession.
Consumer prices in the 16-country eurozone were 0.1 per cent lower in June than [...]
Pessimistic executives cash out of shares
By Anuj Gangahar and Michael Mackenzie in New York
Last updated: June 23 2009 00:44
Growing pessimism about the prospects for a global economic recovery sent stock and commodity prices tumbling on Monday while new data showed that leading US corporate executives were cashing out of their share holdings at a rapid [...]
By Lyubov Pronina, Lucian Kim and Alex Nicholson
June 16 (Bloomberg) — The leaders of Brazil, Russia, India and China agreed to push for more clout in global financial institutions at an “historic” first summit, without announcing a common policy on how to flex their $2.8 trillion in reserves.
The heads of the so-called BRIC states called [...]
ECB lends Sweden €3bn
By Ralph Atkins in Frankfurt, Joshua Chaffin in Brussels,and Robert Anderson in Stockholm, June 11 2009 03:00
The European Central Bank has acted to head off a financial crisis in the Baltics, providing Sweden’s central bank with a €3bn loan in a confidence-boosting move amid growing fears over Latvia’s economy.
The ECB move [...]