BREAKING NEWS
Dagong Global Credit Rating Co used its first foray into sovereign debt to paint a revolutionary picture of creditworthiness around the world,
giving much greater weight to “wealth creating capacity” and foreign reserves than Fitch, Standard & Poor’s, or Moody’s.
The US falls to AA, while Britain and France slither down to AA-. Belgium, Spain, Italy are ranked at A- along with Malaysia.
Planners in South Korea have a longstanding fetish for economic hubs.
Even so, the southern city of Busan seems to be pushing the obsession a bit far.
As one of the world’s largest container ports, it understandably wants to be a marine and logistics hub for northeast Asia.
But Busan’s slick promotional literature also boasts of its ambitions to be a hub
13 July 2010.
As Europe’s major economies focus on belt-tightening, they are following the path of Ireland.
But the once thriving nation is struggling, with no sign of a rapid turnaround in sight.
Nearly two years ago, an economic collapse forced Ireland to cut public spending and raise taxes,
the type of austerity measures that financial markets are now pressing on most advanced industrial nations.
“When our public finance situation blew wide open, the dominant consideration
China’s manufacturing growth slowed more than economists forecast in June, adding to signs that the world’s fastest-growing major economy is cooling.
The government’s Purchasing Managers’ Index declined for a second month, falling to 52.1 from 53.9 in May.
The median forecast in a Bloomberg News survey of 12 economists was 53.2.
An HSBC Holdings Plc manufacturing index slid to a 14-month low.
President Obama’s “green credentials” have taken a shellacking as a result of his seemingly indifferent attitude towards the Gulf oil spill,
and it certainly isn’t going to get any better once more people know about this little bit of news.
Two government-chartered mortgage finance companies, Fannie Mae and Freddie Mac, are unlikely to accept loans on homes
12 July 2010.
For decades, Turkey has been told it was not ready to join the European Union —
that it was too backward economically to qualify for membership in the now 27-nation club.
That argument may no longer hold.
Today, Turkey is a fast-rising economic power,
with a core of internationally competitive companies turning the youthful nation into an entrepreneurial hub,
tapping cash-rich export markets in Russia and the Middle East
As Wall Street drags its feet on reining in bonuses, the European Union is forcing its banks — by law — to show some self-restraint.
The European Parliament this week approved one of the world’s strictest crackdowns on exorbitant bank pay,
going beyond some of the limits that many banks were pressed to adopt in the wake of the financial crisis.
India’s drug industry — on track to grow about 13 percent this year, to just over $24 billion —
was once notorious for making cheap knockoffs of Western medicines and selling them in developing countries.
But India, seasoned in the basics of medicine making, is now starting to take on a more mainstream role in the global drug industry,
On the eve of a seemingly critical Congressional vote on a sweeping measure to regulate Wall Street,
the prominent lobbyist Tony Podesta met with one of the lawmakers to go over some final language and discuss the effect it could have on his many corporate clients.
Once that was over, Mr. Podesta pivoted back to another client, BP, to help the company navigate Congressional waters and, in short, try to prevent an ugly situation from getting even uglier.
Even as Asian demand for Australia’s resources keeps surging, the fate of a small town
has become a catalyst for pent-up anger over the coal industry’s push into populated and farming areas.
It has also set off a larger debate in Australia, the world’s biggest exporter of coal,
about mining’s costs and benefits to the country.
