Posts Tagged ‘BBC’
To harness the worldwide economic downturn, the world’s biggest economies have reached quite near to a deal.
IMF that provides aid to ailing economies will get up to $500bn more funds from the world’s largest economies.
According to BBC business editor Robert Peston, a deal to name and shame those countries that are breaching global free trade rules may also be signed.
It is also expected that banking regulation to be tightened as well as measures may also be taken on bankers and tax heavens pay.
To tackle the worst financial crisis of the decades, US Treasury Secretary Henry Paulson urges Congress to quickly pass a $700bn package.
According to the plan a fund will be set up to buy back much of the bad debt that financial institutions and banks around the world hold.
In an Interview with US television, Paulson called that financial market turmoil a “humbling experience”. He also urges other countries to have similar plans to build up confidence again.
“I am not going to bet against the long-term fundamentals of this country and its people.” Read the rest of this entry
A UN report warns that the poor countries of the world would see the worst impact of worldwide economic slowdown during the next year.
Because of the economic recession worldwide, the expected growth in many developing countries is lower than 1% and the things would be worsen during the next year.
Unctad, UN agency for the developing countries, says that the poor countries could squeeze in the next year because of different factors like high food and oil prices and slow global demand.
In an interview with BBC news, Unctad’s Secretary General, Supachai Panaitchpadki told that the poor as well as rich countries of the world must be careful to raise interest rates to stop mounting inflation. Read the rest of this entry
French energy firm EDF is not about to pronounce an invasion of British Energy, the company said the BBC.
EDF and British Gas owner Centrica were expected to pay above than £12bn to the organization which possesses 8 British nuclear energy stations.
The French firm notified clearly, “After in-depth negotiations, EDF would contemplate that the state of affairs for the foremost development in Great Britain didn’t meet to date.”
EDF would retain its half-year consequences meeting on Friday morning as thoroughly meditated. Read the rest of this entry
