9 November 2010. An Irish bond market already in free fall plunged further after Ireland announced on Thursday
that it planned to nearly double its package of spending cuts and tax increases to try to rein in its huge deficit.
Investors took it not as a sign of resolve but rather of Ireland’s desperation and uncertainty about the true extent of its problems.
The yield on Ireland’s 10-year bond climbed to 7.6 percent on Friday,
A growing global divide was evident on Saturday at a gathering of finance ministers from the 21-member Asia-Pacific Economic Cooperation forum,
after several days of sharp criticism of the Federal Reserve’s announcement that it would buy $600 billion in Treasury securities to bolster growth.
Countries like China, Brazil and Germany have warned that the unilateral move devalues an already-weak dollar,
Harvard Business School has received a gift of $50 million from Tata Companies, the Sir Dorabji Tata Trust and the Tata Education and Development Trust, philanthropic entities of India’s Tata Group.
A conglomerate founded in 1868, the Tata Group owns 28 publicly listed enterprises across seven business sectors that have a combined market capitalization of $80 billion.
The gift is the largest from an international donor in the School’s 102-year history,
With tensions between China and Japan spilling out at an East Asian summit meeting in Vietnam,
the United States is trying to defuse an escalating diplomatic row over their competing claims to a cluster of small islands in the East China Sea.
On Saturday, Secretary of State Hillary Rodham Clinton proposed a three-way meeting with China and Japan to resolve the dispute,
In these angry political times, Democrats and Republicans agree on next to nothing.
China is an exception.
Democrats and Republicans are accusing each other of cozying up to Beijing and backing policies
that send U.S. jobs and IOUs to the world’s second-largest economy.
Hot rhetoric in the closing days of the election has helped to fan protectionism sentiment in the U.S.,
A Chinese scientific research center has built the fastest supercomputer ever made,
replacing the United States as maker of the swiftest machine,
and giving China bragging rights as a technology superpower.
The computer, known as Tianhe-1A, has 1.4 times the horsepower of the current top computer, which is at a national laboratory in Tennessee,
as measured by the standard test used to gauge how well the systems handle mathematical calculations,
And if it doesn’t, it should start RIGHT away.
The United States Treasury concealed $40 billion in likely taxpayer losses on the bailout of the American International Group earlier this month,
when it abandoned its usual method for valuing investments,
according to a report by the special inspector general for the Troubled Asset Relief Program.
“In our view, this is a significant failure in their transparency,” said Neil M. Barofsky, the inspector general, in an interview on Monday.
25 October 2010.
South Tyrol, a German- and Italian-speaking region of mountains and valleys,
rivals Italy’s most productive regions, highly industrialized Lombardy, and the Valle d’Aosta,
in GDP per capita.
It is so prosperous that it can pay its governor a better salary than that earned by US President Barack Obama.
The so-called “South Tyrol Package,” signed in 1972,
The Japanese trade minister urged China on Sunday to restart exports of crucial minerals known as rare earths
that both traders and government officials say have been blocked for the past month amid a territorial dispute between the countries.
The trade minister, Akihiro Ohata, also quoted a top Chinese official as acknowledging that customs officials had stepped up inspections of all rare-earth shipments from China.
For those who haven’t seen it, this video is a fantastic explanation of how the credit crisis formed.
Using language that a lay person can understand and fantastic animated graphics, the video explains the link between homeowners, mortgage brokers and lenders, Wall St, institutional investors, ratings agencies, CDOs and CDSs.
It shows at what point greed overtook the bankers and how the whole system came crashing down.
