News about finance

US to hit debt ceiling in mid-October: Treasury The US will hit its statutory debt ceiling in mid-October, raising the chance that the government will be forced to default on its debts.

27 August 2013

Greece may need new bailout of 10bn euros Greek Finance Minister Yannis Stournaras said that if Greece required a new bailout in 2014, it would be a "much smaller" package of around 10 billion euros with no austerity conditions attached.

26 August 2013

Brazil to spend $55 billion to defend sagging real Markets and analysts cheered Friday after Brazil's central bank pledged $55 billion until year's end to prop up the sagging real while Latin America's biggest economy is showing weak growth.

25 August 2013

Risky financial crisis derivatives return in new form Collateralized debt obligations, the complex financial instruments that cratered disastrously in the financial crisis, are back.

21 August 2013

UN calls for $98 mn in emergency aid for N. Korea The United Nations is in urgent need of $98 million to finance emergency aid for the people of North Korea.

18 August 2013

Kazakhstan paper producer Kagazy freezes former managers' assets Assets of two former heads of Kazakhstan Kagazy have been frozen around the world under the company’s request.

09 August 2013

Financial monitoring unveiles 360 case of terrorism financing in Kazakhstan The Financial Monitoring Commission of the Kazakhstan Finance Ministry revealed 360 cases of financing of terrorism.

05 August 2013

Virgin Australia expects loss of $98 mln for year Virgin Australia said Monday it was expecting a full-year loss of Aus$95-$110 million (US$84-98 million).

05 August 2013

Bank of America may face civil charges over financial crisis Bank of America may face civil charges over its actions during the financial crisis related to its mortgage products.

03 August 2013

Ruslan Dalenov appointed acting Finance Minister in Kazakhstan Kazakhstan Finance Minister is on vacation, acting Minister appointed.

01 August 2013

Ablyazov arrested by French special forces Ablyazov has been arrested in the south of France near Cannes by French special forces today.

31 July 2013

Hunger costs Swaziland three percent of GDP Around three in 10 young children in Swaziland are stunted by hunger, and 270,000 workers are also physically affected.

31 July 2013

China owes Hollywood millions after halting payment for films China has stopped paying Hollywood studios for its films in a dispute over a Chinese tax on movie profits.

31 July 2013

Obama extends economic sanctions linked to Hezbollah President Barack Obama announced Monday he had extended for at least a year the US freeze on financial assets of entities linked to Hezbollah, citing a threat to Lebanon's stability.

30 July 2013

IMF approves 1.7 bn euro loan payout to Greece The International Monetary Fund released 1.72 billion euros ($2.29 billion) in aid for Greece on Monday after completing a review of the country's performance under the international rescue program.

30 July 2013

GMAC pays $230 mln to borrowers in foreclosures case GMAC Mortgage, a defunct unit of Ally Financial, will pay $230 million to borrowers as part of a government review of potentially flawed foreclosures.

27 July 2013

Debt, shadow finance bedevil China's economy Decades of breakneck expansion have given China gleaming skyscrapers and sleek railways, but brought piles of debt.

26 July 2013

US Navy will have fewer reinforcements in a crisis The US military has fewer ships to send as reinforcements in a crisis because of budget cuts that have slashed funds for maintenance and training.

21 July 2013

Wall Street hammers Microsoft after earnings miss Microsoft shares were hammered Friday after a disappointing earnings report cast doubts on the tech giant's transition to a post-PC world.

20 July 2013

G20 gets 'action plan' to fight tax avoidance The OECD has presented the G20 nations with a bold strategy to crack down on tax avoidance by corporate giants and the super rich, and so boost overstretched national budgets.

20 July 2013

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