October 12, 2011
Barroso outlines plan to resolve eurozone debt crisis
The president of the European Commission, Jose Manuel Barroso, has set out a plan designed to bring an end to the eurozone debt crisis. In a speech, Mr Barroso said banks must set aside more assets to help guard against future losses. Banks…
October 12, 2011
Federal Reserve split over ‘Operation Twist’ stimulus
Three members of the Federal Reserve's Open Market Committee (FOMC) voted against the Fed's latest stimulus measures at its meeting last month, minutes have revealed. After the meeting, the Fed announced a $400bn (£254bn) bond programme designed…
October 12, 2011
Australia parliament passes divisive carbon tax
Australia's lower house of parliament has narrowly passed a bill for a controversial carbon tax. The legislation would force about 500 of the biggest polluters to pay for each tonne of carbon dioxide they emit. The tax is central to the government's…
October 12, 2011
US Senate passes bill to pressure China on yuan
The US Senate has voted through a bill that aims to aims to put pressure on China to increase the value of its currency, the yuan. Some lawmakers argue that the Chinese yuan has been kept artificially undervalued, giving the country an unfair…
August 4, 2011
Japan government and central bank intervene to cut yen
The Japanese government and central bank have intervened to weaken the yen and protect economic growth. In the morning, Japan moved into the currency markets, cutting the value of the yen against the US dollar. The Bank of Japan announced further…
August 4, 2011
Italy ‘to default’ but Spain may ‘just’ escape
Debt-laden Italy is likely to default, but Spain might just avoid it, according to the British think tank, the Centre for Economics and Business Research. With the countries weighed down by debt, the think tank modelled "good" and "bad" economic…
August 4, 2011
European stock markets continue to slide
European shares have fallen sharply as fears grow about eurozone debt levels and the health of the global economy. The main share indexes in London and Frankfurt were both down 2.3%, while the Cac 40 in Paris dropped by 1.9%. US stocks initially…
August 4, 2011
FAA shutdown: Obama urges Congress to settle latest row
President Barack Obama has again urged Congress to end a funding row that has partially shut down the body which oversees US air safety. He said it was a "lose-lose situation" that could cost the government $1bn (£610m) in uncollected air fare…
August 2, 2011
Spain PM postpones holiday as debt fears hit record
Spain's Prime Minister Jose Luis Zapatero has been forced to postpone his holiday as investors continue to flee his country's debt. Mr Zapatero had been due to leave for south-west Spain. But on Tuesday, the yield on Spanish bonds reached 4.04…
August 2, 2011
US to avoid default as Senate backs debt ceiling rise
The US Senate has passed a deal struck between Republicans, Democrats and President Barack Obama to increase the US debt ceiling and avert a default. The bill passed the Senate by 74 votes to 26. Mr Obama is due to speak shortly and then sign the…