November 4, 2011
China pledges more help to other developing countries
Chinese President Hu Jintao said Thursday that his country will provide more help to other developing countries.
He made the pledge at a Group of 20 (G20) summit in this French seaside resort.
China would provide new loans to help developing c
November 4, 2011
Tepco to get $11bn government aid after plan approval
Tokyo Electric Power Company (Tepco) is set to receive 900bn yen ($11.5bn; £7bn) in bailout funds after the government approved its business plan. The funds are a part of the government's bailout plan for Tepco, which is expected to make a loss of…
November 4, 2011
AIG posts $4.1 billion loss
American International Group is back in the red. Way in the red. The bailed out insurer posted a net loss of $4.1 billion on Thursday, a loss per share of $2.16 for the third quarter. While analysts hadn't expected the company to post a profit,…
November 4, 2011
Republic Bank earns $1.1B in profit
Republic Bank has recorded an annual profit of $1.1 billion for the financial year ended September 30, 2011. That’s a 12.8 percent increase over last year of profit attributable to shareholders from the bank’s holdings here in Trinidad and…
November 4, 2011
Stocks in Europe spike as Greek referendum scrapped
Stocks rose sharply yesterday as the Greek prime minister bowed to massive political pressure to scrap a referendum on a European bailout plan. A surprise rate cut from the European Central Bank also helped boost sentiment following days of…
November 3, 2011
G20 leaders to meet amid Greek fears
The G20 leaders are due to meet in France amid concerns the eurozone's debt crisis may be…
November 3, 2011
China refuses to commit to EFSF amid Greek concerns
China has said it cannot commit to investing in the European Financial Stability Fund (EFSF) until the situation with Greece has been clarified. European leaders hoped that China would buy EFSF bonds, injecting capital in the region's financial…
November 3, 2011
TD Bank adds $9 savings account fee, hikes others
As other banks recoil from the customer wrath they faced after attempting to introduce debit card fees, TD Bank is rolling out a brand new fee and hiking others. Starting in December, TD Bank (TD) savings account customers who exceed six…
November 3, 2011
US Federal Reserve slashes US growth forecasts
The US Federal Reserve has slashed its forecast for US growth and upped its expectation for unemployment next year. Despite this, the Fed voted to keep interest rates on hold and maintain its bond-buying programmes. The decision was entirely what…
November 3, 2011
Italian Cabinet Fails to Reach Consensus On Financial reforms
Italy's cabinet has held an emergency meeting on ways to accelerate budget reforms and avert a major financial crisis. Italy's prime Minister Silvio Berlusconi is expected to face intense pressure from G20 leaders to produce a set of concrete…