Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Nov 03, 2011

Search

ALS, Alexander Language Schools Franchise


Nov 3, 2011

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Nov 03, 2011


Greek PM on brink, world tells Europe to fix crisis
Reuters
The leaders of China, Russia and the United States pressed the Europeans to move swiftly to contain the debt crisis, with the United States urging Germany to relent and let the ECB play a greater role infinancial firefighting, G20 sources said. ...
See all stories on this topic »

Reuters
How the global financial crisis has hit Uganda
BBC News
The new Finance Minister, Maria Chiwanuka, says: "It's very uncertain out there. We can't control what happens in Europe or China or Japan or even in Kenya. What we can control is what do we do to respond here within the country." The central bank has ...
See all stories on this topic »

BBC News
Bernanke and Banks Tested By Latest Market Strains
Wall Street Journal
Leaders of developed economies, burdened by large government debts, are in a weaker position to address a crisis than in 2008. They have lessmoney and command less political will. The financial system is sturdier in many ways than it was in 2008. ...
See all stories on this topic »

Wall Street Journal
Thursday in Parliament: Eurozone crisis
BBC News
Committee: During a session with MPs and peers on the Draft Financial Services Bill, Conservative MP David Ruffley complained that Parliament has not been given access to the discussions of the Court of the Bank of England on the financial crisis, ...
See all stories on this topic »
Q&A: What's at stake at the G20 summit?
BBC News
Another financial crisis and global recession could expose large bad debts in China, tipping its economy over the edge and risking social unrest. The eurozone crisis is already pushing the West towards recession by preventing the banks from lending, ...
See all stories on this topic »
Swan blasts Coalition for call to refuse IMF funding
The Australian
"Through the recent global financial crisis, the IMF has been on the right side, but there is a feeling, reflected in the position (of) Julia Gillard, that its resources are insufficient to greatly influence a systemic collapse of banking systems in ...
See all stories on this topic »
Beijing risks public backlash if it rescues Europe
Reuters
A quote from China's Vice Finance Minister Li Yong on Wednesday could be viewed in that light. "China is willing to work together with other countries, the World Bank and IMF, to help Europe to deal with the debtcrisis under multilateral efforts," Li ...
See all stories on this topic »

Reuters
GDP forecast rolled back
Prague Post
"What we are working on are three or four crisis scenarios, with 1 percent growth being the optimistic one," Finance Minister Miroslav Kalousek said on Czech Television Oct. 30. "I would be very happy if the economy grew 1 percent next year, ...
See all stories on this topic »

Prague Post
Draghi May Resist Stimulus Call Amid Greek Crisis
Bloomberg
The ECB needs to “go into the market and say 'We have a wall of moneyhere and no matter how much speculation there is, we're going to keep buying Italian bonds or any other euro bonds that are threatened',” IrishFinance Minister Michael Noonan told ...
See all stories on this topic »

Bloomberg
EU's Bank Capital Plan Has 'Serious Problems,' IIF Says
BusinessWeek
He also urged the European Central Bank and others to provide more liquidity support for Greek banks, who he said have helped to finance Greece's economy through bond purchases and private-sector lending. The bank-recapitalization accord sets a June 30...
See all stories on this topic »
Euro Crisis Threatens Banking System
Ocala
FRANKFURT — In March 2009 about 40 bankers and government officials crowded into a classroom at an economic institute in Vienna to talk about how they might save Eastern Europe from financial Armageddon. In the months that followed they forged a pact ...
See all stories on this topic »
Think twice before bashing the banks
Herald Sun
Solid, healthy banks have kept us safe during the global turmoil. Over the last 20 years, the world has witnessed financial crises. The Asian Financial Crisis in the 1990s saw Asian banking sectors severely strained, and the economies shrink ...
See all stories on this topic »
Eurozone witholds funds ahead of Greek referendum
ABC Online
But, the whole idea of rights and obligations of citizens versus the state is something which is being challenged by the consequences of the financial and the economic crisis. This isn't going to go away in a hurry. So, the idea that we're going to ...
See all stories on this topic »
Europe leaders summon Greek PM to explain himself
eTaiwan News
... financial markets and threatens to derail a debt crisis plan that's not even a week old. A "no" vote in the referendum could lead to a disorderly Greek default and force Greece from the euro, toppling fragile banks and sending the global economy ...
See all stories on this topic »
G20 summit: live coverage
The Guardian (blog)
Nicolas Sarkozy and Angela Merkel meet George Papandreou, for crisistalks before the G20 summit in Cannes. Photograph: Philippe Wojazer/AP 1.43pm: More from the NGO community. The Taskforce on FinancialIntegrity and Economic Development, ...
See all stories on this topic »

The Guardian (blog)
Bank exodus from euro zone sovereign debt quickens
Reuters
Regulators have encouraged banks since the 2007/08 financial crisis to increase their holdings of liquid assets such as government bonds and cash, so they could withstand at least a 30-day funding crisis. The European Central Bank is likely to be by ...
See all stories on this topic »
IMF- World Bank annual meetings 2011: Personal impressions (2)
Sudan Tribune
To present policy-makers' perspectives, the finance ministers from Ghana and Bolivia gave presentations about economic policies their countries are pursuing to overcome the challenges posed by commodity prices volatility to their countries. ...
See all stories on this topic »
Cameron in Cannes: a chance to act
The Guardian
We could cut the wages (or impose severe taxes) on the bankers,financial sector staff, etc. Then they'd know personally that austerity was "good" .... and hey ... doubtless they'd slash those interest rates to the bone! to be felt in the UK--and ...
See all stories on this topic »

The Guardian
The European Banking Crises in Lehman Terms
The Bradenton Times
Our “leaders” will have wished they would have enacted meaningfulfinancial reform when they had the chance, and our citizens will have wish they demanded it. Banks like JP Morgan Chase and Bank of America are currently (and seemingly illegally) ...
See all stories on this topic »

The Bradenton Times
SP Hinduja urges G20 to adopt two-way solution to debt crisis
India Infoline.com
The foremost need is to urgently bring about an understanding among the Eurozone leaders to deal with the sovereign debt crisis of its members. The Fed, other centralbanks and also the IMF have injected large sums of cash into the financial systems to...
See all stories on this topic »
PM Noda: Decision To Inject Funds Into Japan Banks In 1990s Was Difficult But ...
Wall Street Journal (India)
Japan's premier also said it's important to keep in mind how financial sector reforms can affect emerging economies. "Banks from industrialized nations pulling their moneyout of emerging nations will be a huge loss to the global economy," he said.
See all stories on this topic »
Easy Money: It's a Global Thing
Barron's
BCA points out, the Fed's initial, aggressive but controversial actions during thefinancial crisis staved off a 1930s-style disaster. But the effects of actions taken in 2010 and beyond have been, at best, ineffective, and at worst, detrimental. ...
See all stories on this topic »
Corbett reinforces fear of global drag
The Australian
Greece is being supplied money by the EU and the IMF under a E110 billion ($147.17bn) program agreed to last year. Officials in Brussels are seeking investors to buy debt issued by the European Financial Stability Facility, the eurozone's temporary...
See all stories on this topic »
Poor countries offer hope to crisis-weary G20
Financial Post (blog)
The need for private sector investment will become all the more acute as western governments cut back on spending and cash-strapped banks pull down the shutters on project finance. Much of what Mr. Thiam is proposing is not revolutionary. ...
See all stories on this topic »
The Two-Way : NPR
NPR
If true it would be a perfect case of mirror-image brinkmanship on the part of the EU andIMF - a touche to Papandreou's referendum. The BBC reports that a Greek exit from the single currency could mean "financial contagion as investors and ordinary ...
See all stories on this topic »
A Meeting of Minds on Germany's 'Occupy' Movement
Spiegel Online
Occupy supporters in the German financial center have taken over a small park located directly in front of the European Central Bank. Around 100 tents have been pitched in front of the banking city's glass and steel skyscrapers. "You occupy the money, ...
See all stories on this topic »

Spiegel Online
FINANCIAL REPORT: Bank on trust
Campaign Asia-Pacific
By Matthew Carlton on Nov 3, 2011 (1 hour ago) As the crises in the Eurozone markets continue to dominate headlines, banking and finance brands are once again thrown in the spotlight at the mercy of consumer scepticism, reminiscent of the financial ...
See all stories on this topic »
Banks to adhere to Basel 3 capital requirements
FM.co.za
This comes after some banking executives admitted that internal models used before the 2008 financial crisis were largely inadequate in predicting potential problems, especially regarding bad debt . SA banks are well capitalised, with an average ...
See all stories on this topic »
Papandreou Tells Greeks It's Time To Grow Up
Business Insider
The agreement from Oct. 27 would have required banks that hold Greek government debt to reduce their value by 50 percent, or 100 billion euros (nearly $140 billion), and it would have expanded Europe's emergency financial stabilization fund to 1 ...
See all stories on this topic »
Bonds hit record as Italy struggles to fight crisis
AFP
The spread, or difference, between the yields on Italian 10-year bonds and benchmark German ones also hit a new record of 462 points, before going down below 450 points in a highly volatile session on financial markets. The Bank of Italy had sought to ...
See all stories on this topic »

AFP
Europe's bailout details needed -Mexico's Carstens
Reuters
He said the bank was watching both the slowdown in the European economy and the volatility in European financial markets. "We have to see how those two forces interact, and that will pretty much decide the decision of the central bank," he said. ...
See all stories on this topic »
protests should scare G-20
MarketWatch
In the meantime, markets remain hostage to the crisis, and every Belgian bank failure, such as Dexia, or MF Global bankruptcy amid suspicious circumstances adds to protestors' concerns that the financial services industry is at best rigged, ...
See all stories on this topic »
ING Cuts Jobs, May Delay State Aid Payment As Crisis Bites
Wall Street Journal (India)
The firm, which was bailed out twice during the financial crisis, has bolstered its capital in the last few years and sharply reduced its exposure to the troubled euro-zone periphery. ING Thursday reported a steep rise in third-quarter net profit of ...
See all stories on this topic »
MF Global & European Debt Crisis
PBS Nightly Business Report
PRATT: To be sure, issues beyond Europe will continue to weigh on bank stocks. New regulations out of Washington top the worry list, as does the health of the US economy. And, then there are market pros who avoid financial stocks not because of MF ...
See all stories on this topic »
Delaware bank boss sees seeds of slow recovery
Philadelphia Inquirer
Under recently retired chief executive Marvin "Skip" Schoenhals and his tight-fisted team, responsible for piloting WSFS from the savings-and-loan debacle of the early 1990s through the aftermath of the 2008 financial crisis, the bank limited ...
See all stories on this topic »
A decade after economic crisis, Argentina dropping utility subsidies to ...
Washington Post
The government began subsidizing utilities to get the economy moving again after its devastating 2001 financial crisis. Nearly a decade of strong growth since then has made the subsidies harder to justify. Many businesses have said they cause economic...
See all stories on this topic »
Eurozone crisis seen dragging down China's economy
People's Daily Online
Vice Minister of Finance Li Yong said China's economy faces increasing external challenges, in particular the slowing world economy, global inflationary pressures and the eurozone debt crisis. Europe, China's largest export market, is still struggling ...
See all stories on this topic »
Former FDIC Chief's Debut in Fortune Magazine
New York Times
By ERIC OWLES Sheila C. Bair, former head of the Federal Deposit Insurance Corporation, writes that Europe's financial crisis is a result of the failure of European regulators to demand that banks maintain sufficient capital to absorb losses. ...
See all stories on this topic »
The Veil of Secrecy at the Fed Has Been Lifted, Now It's Time for Change
Huffington Post
Further, the GAO found that at least 18 current and former Fed board members were affiliated with banks and companies that received emergency loans from the Federal Reserve during the financial crisis. In other words, the people "regulating" the banks ...
See all stories on this topic »
If ETFs Sound Like Exotic Investments, Here's What You Need To Know
Business Insider
Banks that were left holding these mortgages took steep losses, and thefinancial crisis was on. The term "subprime mortgage" became a dirty word to American consumers. It also became known as an exotic instrument, unlike traditional instruments like ...
See all stories on this topic »

Business Insider
French banks to recapitalize without govt funds
eTaiwan News
The amount France has to pay to borrow money from markets has soared in recent days. A French downgrade would sap financial firepower from the continent's bailout fund, the European Financial Stability Facility, whose own strong AAA rating is dependent ...
See all stories on this topic »
Fitch Rates Wilmington, DE's $46MM GOs 'AA-'; Outlook Stable
MarketWatch (press release)
Wilmington's economy benefits from a business climate attractive to banking and related business services, as well as pharmaceuticals. The list of financial firms with a presence in Wilmington continues to run deep despite the loss of approximately 700 ...
See all stories on this topic »
Banks likely to try range of new fees
Boston.com
Banks have been steadily raising fees to make up for losses from the weak economy, troubled housing market, and tougher regulations since the financial crisis in 2008. Over the past year alone, the average monthly checking account fee has increased by ...
See all stories on this topic »
Debt crisis: live - Telegraph
http://www.telegraph.co.uk/finance/financialcrisis/8846201/Debt-crisis-live.html? ...Channel 4 News's economics editor Faisal Islam is in Athens and says the ...considering the central bank's stance in the past, and if the ECB would resort to .... The Chancellor last week ruled out the prospect of the IMF's money being put into ...
www.telegraph.co.uk/finance/.../8846201/Debt-crisis-live.html
The eurozone financial crisis explained – USATODAY.com
Among the 17 nations that use the euro, financial bailouts are having a ripple effect. ...not sought bailout loans, but their increasingly severe economic troubles raise that likelihood. Sources: AP, IMF, Eurostat; State Department, European Central Bank and.... For the latest Money news, follow USATODAYMONEY On Twitter. ...
www.usatoday.com/money/world/story/2011-10-26/.../1
email: info@als-alexander.org or interalex2@gmail.com
Surrender the Heart (Surrender to Destiny)Alexander Dictionary of English Idioms: English-FrenchAlexander Dictionary of English Idioms: English-SwedishUnder the SunStealing Jake

No comments: