December 17, 2011
Fitch revises outlook on France to ‘negative’
Ratings agency Fitch has affirmed France's top-notch AAA credit rating but has revised its outlook on the country to "negative" from "stable". A negative outlook usually means a downgrade is possible in 12-18 months. Fitch said the change in…
December 17, 2011
Ex-Fannie Mae and Freddie Mac bosses charged with fraud
The US financial regulator has brought civil fraud charges against six former top executives at mortgage giants Fannie Mae and Freddie Mac. The Securities and Exchange Commission (SEC) said the executives had misled investors about the companies'…
December 17, 2011
Multi-million dollar contract to upgrade water system
The National Water Commission (NWC) in Jamaica has signed a US$115 million loan with the Bank of Nova Scotia for funding of the second phase of the Jamaica Water Supply Improvement Project (JWSIP). The JWSIP, which is divided into segments A and B,…
December 17, 2011
Early US stock market rally fades
An early rally faded on the stock market yesterday, leaving indexes down about three per cent for the week as worries resurfaced about a breakup of the euro. BlackBerry maker Research in Motion plunged after slashing its forecast for holiday…
December 17, 2011
EU and IMF end informal Hungary debt talks
The European Commission and the IMF have cut short informal aid talks with Hungary due to worries over the independence of its central bank. Hungary had been seeking a standby credit line of 15-20bn euros ($19.5bn, £12.6bn) in case it ran into…
December 17, 2011
Senate approves two-month extension of payroll tax cut
Senate lawmakers on Saturday voted overwhelmingly to extend the payroll…
December 17, 2011
At least 436 dead after storm pummels Philippines
At least 436 people are dead after Tropical Storm Washi pummeled the Philippines, Red Cross Secretary General Gwen Pang said Saturday. The vast majority of the bodies were found in the cities of Iligan and Cagayan de Oro, according to military…
December 17, 2011
Arab League Plan for Syria May Go to UN Security Council
The Arab League may ask the U.N. Security Council to adopt an Arab peace plan aimed at ending Syria's violent crackdown on anti-government protesters. Qatar's Prime Minister said Saturday that Syria is delaying its response to the Arab peace…
December 17, 2011
Tunisians Rally on Anniversary of Uprising
Thousands of Tunisians rallied Saturday to celebrate the first anniversary of the popular uprising that sent the former president into exile, ending decades of dictatorship, and sparked revolutions across the Arab world. The crowd gathered…
December 17, 2011
State of Emergency in Kazakhstan After Deadly Protests
Kazakh President Nursultan Nazarbayev has declared a state of emergency in the western city of Zhanaozen, where Kazakhstan's independence celebrations turned deadly. Mr. Nazarbayev ordered the presidential decree on Saturday, a day after at least…