New York, US – The jailed financier Bernard Madoff has been told that he is likely to be refused permission to attend his son’s funeral, after he recently was found hanging in his luxury New York apartment due to committing suicide. The Butner Federal Correctional Institution, North Carolina, has prison rules that inmates are only [...]
United Kingdom – Britain’s Financial Services Authority (FSA), are currently in a legal wrangle with the U.S over the failings to publish a report relating to the near collapse of Royal Bank of Scotland (RBS). Since the Scottish banking giant fell from its dizzying heights, Investors from across the Atlantic are battling for both full [...]
US – The Swiss bank UBS AG is currently facing a substantial lawsuit involving accusations of fraudulent activity with claims that many of their clients were freely ripped-off by financier Bernard Madoff, with little being done to prevent it over the course of two decades. Despite the global bank claiming that the allegations are simply [...]
Ireland – The confirmation that the Irish government would need a bailout from the International Monetary Fund came from the nations leader Brian Cowen, in an attempt to salvage the troubled economy. While addressing the media at a conference, Mr Cowen revealed how ‘’the European authorities have agreed to our request.’’ He went on to [...]
UK – A recent boost in revenue for the car giant Jaguar Land Rover has paved the way for the opening of thousands of new jobs for the car manufacturing production process. The UK branch has already announced over 1,500 new positions. The company had previously planned to shut down at least three of its [...]
SEOUL, South Korea — The global financial meltdown is not far from the minds of global leaders and the business community as they mingled in various forums in and around the G20 summit. The two day meeting of the Group of 20 provided ample opportunity for corporate chiefs and political leaders to trade barbs at [...]
The Commerce Department figures show that the United States imported a total of $198.1 billion against exports of $154.1 billion in September. The $44 billion deficit is down from a $46.5 billion gap noted in August. Of the $46.5 billion, China accounted for $27.8 billion, a significant 60% of the total US trade deficit, though [...]
FRANKFURT — Germany’s gross domestic product will grow 2.2 percent next year, down from a 3.7 percent increase this year, notes the German council of economic experts. Their 400 page annual report released Wednesday paints a muted assessment of the economy, though in these times, this can be interpreted as a good thing given the [...]
For the latest Q3 profit report, General Motors had $34.1 billion revenue, with an overall net profit of $2-billion. The company hopes this report will encourage prospective investors to pick up GM shares when it returns to the stock market on Nov. 18. There is a $646-million profit from GM’s international region, where the Asian [...]
Slogans for anti-globalization are chanted in Seoul, South Korea’s capital, with thousands of protesters coming to rally during the Group of 20 Summit. The protesters tried to march further the streets, but riot police stopped them using pepper sprays. This week, South Korea is the host of G20, where developed countries’ leaders meet. Some of [...]
Next week, gold prices are expected to head to $1400 an ounce. As the US dollar loses its value, gold reached its highest price of $1,398 per ounce last Friday. This is considering the Federal Reserve’s continuous promotion of inflation. Gold has increased its price by 27.5% just this 2010, and it seems like it [...]
Yesterday, Microsoft announced its CEO Steve Ballmer’s plan in selling 75 million Microsoft shares. The plan aims to “gain financial diversification” and to “assist in tax planning before the end of the year,” according to them. Before this current sale, Ballmer owned 408 million shares. Ballmer stated that this is a “personal financial matter,” and [...]
President Obama left just this Friday for an Asian trip that will result in more US jobs and export, if all works well. This trip is three days after the election was held, where the Democratic Party loss big-time due to the weak economy. During the course of the 10-day trip, President Obama will head [...]
The announcement of the $600 billion bond that the Federal Reserve will use to boost the US economy caused the world stock prices to go up and the US dollar to go down. The Federal Reserve stated its interest in buying $600 billion worth of government bonds on Thursday. This also caused oil prices to [...]
UK – Halloween analysts have revealed how business is booming over the period as over half of the population will buy something related to Halloween including sweets, chocolates and fancy dress accessories. Sales are expected to top £10million which will see more money spent at this time of the year than what is spent on [...]
England, UK – BAA has recorded a 7.6 percent growth for September compared to the same period last year as approximately 6.2 million passengers travelled through the terminals. Theses reports have made Heathrow the busiest airport in the world and have strengthened hopes for the revival of the currently dwindling air industry. The company have [...]
Paris, France – Societe Generale claims that Jerome Kerviel is not required to pay back the €4.9 billion ($7B, £4B) that had been awarded in damages by the French court. After being found guilty of losing the large amount of cash by means of unauthorised trading, Kerviel was ordered to repay the money. “There is [...]
Australia – landowners with crops, including the nations farmers have been getting out of bed and witnessing the greatest swarm of locusts since circa 1935. The effects regarding plants and vegetation may possibly end up being disastrous. The actual invasion has recently been referred to as, “a plague of biblical proportions,” by Steve Wahn, the [...]
Energy service provider Npower has decided to reimburse £70 million to its consumers attributed to faults in their unique billing method. Each home concerned will be given an average repayment of £35. This is one of the most significant payouts of its sort. “Although the vast majority of our customers benefited from the combined effects [...]
United Kingdom – The Financial Services Authority (FSA) have slapped Goldman Sachs with a huge fine totalling £17.5m ($26.7m) after they had neglected to inform the UK regulator that they were currently being investigated for fraud related issues in the US. The huge fine that was issued to Goldman Sachs is reported to be the [...]
England Set To Expect More Heavy Snow As Europe Suffers Big Freeze
Mystery Of How Saturn’s Rings May Have Formed Revealed
Man-Made Warming Evidence Increases Say Scientists
Comet-Hunting Spacecraft Deep Impact Continues to Provide Value
Sea Urchins Tolerate Acid Oceans
Man Awarded $18.5 Million For 22 Years For False Imprisonment
