European lawmakers Thursday agreed the first step in an ambitious EU banking union plan, by transferring the power to supervise the eurozone’s biggest banks to the ECB in a year. Formal agreement to make the European Central Bank the “single supervisor…
Growth in the Group of 20 emerging and advanced economies accelerated in the second quarter of this year to 0.9 percent from 0.6 percent in the previous three month period, the OECD said Thursday. Most G20 members saw growth pick up momentum in April…
Japanese mobile carrier SoftBank will receive loans worth $3 billion from government-affiliated banks as it takes advantage of a drive to boost international acquisitions and investment, a report said Thursday. The news comes two months after Softbank…
Five years after Lehman Brothers collapsed, the huge job of preventing the financial sector from bringing down the US economy again remains an unfinished work. The gargantuan Dodd-Frank reforms, 2,300 pages of new regulation, were adopted in July 2010…
The sale of a majority stake in Royal Mail was due to be announced on Thursday, the BBC reported, sparking an angry response from unions. The government is expected to announce its intention to float the 497-year-old service before the London Stock…
Prime Minister Shinzo Abe has decided to raise Japan’s sales tax next year but plans to launch a $50 billion stimulus package to avoid hurting the nation’s budding economic recovery, reports said Thursday. Jiji Press and Kyodo news agencies reported…
The Supreme Court this month will announce whether it will hear an appeal from Argentina, which is seeking to have overturned a court judgment to repay $1.47 billion to two hedge funds. The high court announced on its website that it is considering…
Up to 25 million more Europeans are at risk of sinking into poverty by 2025 if governments push on with austerity measures, international aid agency Oxfam warned Wednesday, calling such policies “moral and economic nonsense”. “Europe’s handling of the…
It’s become common knowledge that in the U.S. there are now more women enrolled in higher education than men. To … Read more
The VIX, often referred to as the “fear index”, is the CBOE’s measure of the implied volatility of S&P 500 index … Read more
Joey Gamilla, who is unemployed, sits at his computer in his apartment in Naperville, Ill. He was a middle-income homeowner when he was laid off in 2008.(Melanie Stetson Freeman/Staff) Marcus Thomas, a lanky, unemployed construction worker, says he…
President Enrique Pena Nieto’s plan to tax sugary drinks to curb Mexico’s obesity epidemic earned him praise Tuesday from New York’s mayor and health advocates but soda makers slammed it as ineffective. Pena Nieto wants Mexicans to pay an extra peso…
The World Health Organisation chief on Wednesday accused tobacco giant Philip Morris of seeking to “sabotage” a proposed EU measure to clamp down on tobacco industry marketing aimed at women and youngsters. The planned Tobacco Products Directive, or…
“Made in Germany” was always the ultimate stamp of quality for iconic home-grown brands such as BMW, Audi and Mercedes, but is becoming increasingly obsolete as manufacturers ramp up production abroad. In fact, since 2010, more German cars are built…
French media and telecoms giant Vivendi said Wednesday it is planning to split its businesses into two entities, essentially separating its internet and mobile phone unit SFR from its media operations which include Universal Music. “The final decision…