The head on the International Monetary Fund, Christine Lagarde, yesterday pledged to stand by debt-ridden Greece and at the same time urged banks to do more to stabilize the eurozone’s economy.
According to a Reuters report, Lagarde vowed to stand by Greece, adding that the global lender, as well as the troika international lenders including the European Commission and the European Central Bank, is looking for new ways to keep Greece afloat.
Fast food chains in Chile will no longer be allowed to sell children meals that come packaged with toys and other goodies, reported the Associated Press on Wednesday, after Chilean health authorities introduced a new law on June 7, which targeted companies that marketed unhealthy food to kids.
American athletes who win any medals at the ongoing Summer Olympics in London may have to pay hefty taxes upon their return, reported Bloomberg News on Thursday, with the cost of a single gold medal believed to be worth $8,986 in taxes.
President Barack Obama has ordered new economic sanctions aimed at crippling Iran’s energy sector as well as penalising Chinese and Iraqi banks that have facilitated transactions on behalf of Iran.
According to Reuters, the increased pressure “followed criticism from Republican presidential challenger Mitt Romney that the White House is failing to act strongly enough to stop Iran’s suspected pursuit of nuclear weapons.”
As the cost of living increases, consumers find their purchasing power eroded due to the effects of inflation. Similarly, investors sometimes also overlook the fact that inflation can erase the returns on their investments. In that light, how can we adequately prepare and protect ourselves from the damages of inflation?
Nearly 100,000 social service workers in the Spanish region of Catalonia may not receive any salary for the month of July, claimed a report by AFP on Wednesday, after the Catalan regional government announced that they would be suspending social services’ payments due to a “problem of liquidity.”
China’s steel industry has seen its profits plummet by nearly 96 percent in the first half of the year, said a senior industry official on Tuesday, as demand for steel continues to shrink amid the global economic slowdown.
Zhang Changfu, the vice-chairman of the China Iron and Steel Association (CISA), had told reporters in Beijing that profit margins for Chinese steel companies had fallen to just 0.13 percent, compared to 3.06 percent a year ago; and that the total profits for the entire steel industry was now just at 2.39 billion yuan ($376 million).
Unlike many other popular fictional superheroes, Bruce Wayne, a.k.a. Batman, does not possess incredible powers to aid him in his fight against crime. Instead, Batman relies on a combination of tactics and technology to carry out his mission, both of which requires incredible mental discipline as well as an incredible sum of money.
Thousands of South Korean students are rejecting the opportunity to secure lifetime jobs at the nation’s biggest companies in order to begin their very own technology start-ups, said a report by Bloomberg News on Tuesday, as more and more start-ups continue to spring up on the back of entrepreneur-friendly tax incentives and bank loans.
The World Bank is ready to help governments cope with global food price volatility, said its President Jim Yong Kim on Monday, after grain prices had rose dramatically in June following adverse weather conditions around the globe.
According to the bank, global wheat prices were now 50 percent higher than they were in mid-June, while the price of corn and soybeans had also increased by 45 percent and 30 percent respectively.
