US proposes tougher requirements on largest banks US regulators Tuesday unveiled tough new capital requirements for the nation's eight largest banks in the newest move to strengthen the financial system in the wake of the 2008 crisis.
Lebanon tourism pays the price for Syria's war Dia's restaurant in the Lebanese resort village of Aley is deserted. Most years, he caters to thousands of rich Gulf Arab tourists and to visiting expats, but this year no one has come.
29 June 2013
Brazil leader pushes for reform as FIFA hails Confed Cup Brazilian President Dilma Rousseff on Friday raced to build support for reforms in response to nationwide protests as the head of world football hailed the Brazil-hosted Confederations Cup as the "best ever."
GM to invest $691 million to boost Mexico operations General Motors announced Wednesday that it will invest $691 million to boost its operations in Mexico, a nation whose low wages and proximity to the United States are increasingly attracting automakers.
27 June 2013
EU ministers agree on new bank rescue rulesEuropean finance ministers on Thursday agreed a draft deal on new rules for bank rescues that will only allow bailouts by taxpayers in exceptional cases and shift the burden onto bank owners, creditors and large depositors.
27 June 2013
US fines 'Hezbollah' bank $102 mn for laundering A Lebanese bank accused of laundering money from drugs and other operations for clients tied to Hezbollah militants agreed Tuesday to pay US authorities $102 million to settle the charges.
26 June 2013
More protests as Brazilian street speaks A new wave of street protests swept Brazil on Sunday amid mounting popular support for demands for wide-ranging institutional reform and investment in crumbling public services.
24 June 2013
British economy 'out of intensive care': Osborne Finance minister George Osborne on Sunday said the British economy was "out of intensive care" but that government would stick to a path of deep cuts to public spending.
US cuts prison term of disgraced Enron CEO Skilling A US judge cut 10 years off the prison sentence of disgraced former Enron chief executive Jeff Skilling on Friday after he spent years fighting his original 24-year jail term for fraud.
One million march in Brazil's escalating protests At least one million people rallied across Brazil on Thursday in escalating mass demonstrations over the quality of public services and the high cost of staging the World Cup.
21 June 2013
Brazil fare hikes rolled back in victory for protests Brazil's two biggest cities on Wednesday rolled back transit fare hikes that had triggered massive protests as demonstrators clashed with police outside a Confederations Cup match.
20 June 2013
Deloitte fined $10 mn in US laundering case Big accountancy Deloitte was fined $10 million by New York state on Tuesday for its actions in advising Standard Chartered Bank over money laundering.
19 June 2013
OECD report to help G8 offensive against tax evaders The OECD provided ammunition Tuesday for an expected G8 offensive against tax evasion in a report outlining how to bring about automatic sharing of financial information that would shoot a hole through banking secrecy.
19 June 2013
Greece faces general strike amid fury over state TV closure Greek unions plan a 24-hour general strike Thursday, amid a storm of protest over the government's decision to shut down public broadcaster ERT as part of sweeping cost-cutting measures.
13 June 2013
World Bank sees less global growth, more stability The World Bank on Wednesday lowered its growth estimate for the global economy in 2013, but said that expansion appeared better balanced than just before the 2008 financial crisis.
13 June 2013
Consumers in crisis-hit Spain put brakes on spending Spaniards are buying fewer cars, fewer clothes and even cutting back on smoking as a grinding recession and rising unemployment force them to slash spending, dealing a severe blow to manufacturers and shops.
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