Taking home less in benefits was the fitting catharsis for the bankers whose hubris was a generous sanctioning of risky loans, it was agreed. And it made everyone, except the bankers, happy. But the there is a twist in the tale.
Storied Russian arms dealer Viktor Bout, who faces trial in the U.S. for plotting to kill Americans by making weapons available to terror outfits, was extradited to the U.S. on Tuesday, almost three months after a Thai court overturned his plea contesting an earlier extradition verdict.
The European Union (EU) cannot survive if it fails to solve the debt crisis plaguing the continent, warned EU president Herman Van Rompuy.
Japan's Lower House on Tuesday passed a new stimulus plan even as experts believe that the country's surprise economic performance in the third quarter will stall in the fourth quarter due to slowing exports and a stronger yen.
Annual inflation in the European Union rose during October, for both the euro area and the EU, according to a report by the Eurostat, the statistical office of the European Union
Inflation in the U.K. rose during October, mainly pushed by fuel and lubricant prices, a report by the U.K. Office for National Statistics.
Moody's Investor Service published a report assessing Pakistan's B3 foreign and local-currency issuer rating
Google has donned the cloak of Internet's guardian angel once again, condemning the 'digital disruptions' that some governments unleash and calling for new trade rules to prevent countries from setting up intractable 'trade barriers' of a new kind.
The Obama administration is pushing for closer ties with America Indian tribes, announcing a second presidential conference with the tribes in December.
WTO director-general Pascal Lamy said statements from G20 and APEC leaders last week “provided a clear signal that they expect the Doha Development Round to be a deliverable next year.”
Two new Democratic senators will be sworn in this afternoon.
The World Bank, through the MIGA, significantly expanded the eligible pool of projects it would guarantee for private foreign companies investing in projects in developing countries.
The unemployment rate in India is estimated at 9.4 percent or 94 percents out of 1000 persons in the labour force for the fixed reference period of financial year 2009-10, according to employment-unemployment survey by the Labour Bureau under the Labour and Employment Ministry.
A two-year investigation into possible ethics violations by U.S. Rep. Charles Rangel, D-NY, led today to the beginning of a trial before an eight-member, bipartisan House subcommittee. Rangel’s first move was to request a postponement.
Europe's sovereign debt crisis is flaring up again and Ireland, the center of focus this time around, is pushed closer to needing a bailout.
The Obama administration is to present a transition plan for Afghanistan at the upcoming NATO summit in Lisbon. A gradual reduction of troops is to begin in July next year and all combat operations will end in 2014 as scheduled. The plan is also expected to suggest stepping up the efforts to build up the Afghan security forces.
President Barack Obama's 10-day Asian tour has been dubbed a failure by media owing to key failures in binding together the much-awaited free trade pact with South Korea and the inability to persuade a majority of the G-20 nations to support the U.S. position on current account imbalances.
In an attempt to topple Italian Prime Minister Silvio Berlusconi's government, four top officials, including two ministers, are set to resign on Monday afternoon. Even as the move might not be able to bring down the administration, it is likely to prompt early elections in the country, analysts say
The host of announcements related to banks made during the G20 Summit in Seoul last week could be credit negative for senior creditors of some banks, Moody's Investor Services said in a note.
At least 12 people have been killed and dozens more are awaiting rescue as a huge fire engulfed a high-rise residential building in Shanghai. Several residents including elderly citizens are believed to be trapped in the 28-storey building located in the Jing'an district. Reports in the Chinese media state that the witnesses have spoken of hearing loud explosions.
The euroarea reported a trade surplus for the month of September, according to a report by Eurostat, the statistical office of the European Union.
In an attempt to embrace the Conservative base, French president Nicholas Sarkozy turned to right-wing politicians in the cabinet reshuffle, riddled with surprises, on Sunday.
A British couple taken hostage by the Somali pirates last year was released on Sunday. Reports suggest that the couple, Paul and Rachel Chandler, paid a ransom amount of $300,000 to their captors. The pirates reportedly handed them over to officials in Adado, a central Somali town near the Ethiopian border.
Israel is to discuss a 90-day construction freeze in West Bank proposed by the United States, sources say. At the recent Washington meeting between Israeli Prime minister Binyamin Netanyahu and Secretary of State, Hillary Clinton, US reportedly proposed an incentive package to reinstate a moratorium on West Bank settlement building. However, the proposal does not include a suspension of settlement activity in East Jerusalem.
In her first major speech to the supporters, Myanmar's pro-democracy leader Aung San Suu Kyi called upon the democratic forces in the country to work together. Thousands of cheering supporters flocked the headquarters of the National Democratic league (NLD) in Yangon on Sunday afternoon to catch a glimpse of their leader.
Israel is expected to provide favorable environment for the companies which are planning to roll out electric cars.
Tensions between Armenia and Azerbaijan rise as both sides prepare themselves to contest each other over the Nagorno Karabakh conflict.
World Bank President Robert Zoellick is the most high-profile person in recent history to bring up the gold standard. However, his endorsement was almost universally dismissed as too archaic and impractical.
As the 2010 election is over, a new study says companies engaging in corporate political activities are making higher profits.
Pro-democracy leader Aung San Suu Kyi has been freed by Myanmar's military junta. Security forces, on Saturday afternoon, removed the barricades near her residence in Yangon. Amid the cheers of jubilant supporters in their thousands, a smiling Suu Kyi, dressed in a traditional lilac dress, addressed the crowd waiting anxiously for her release.
