Seventy-six years ago, hopes were high that an international meeting held at the Geological Museum in London would provide a boost for the economy.
G20 leaders hope support for banks, higher spending and more money for the IMF will lift the world economy out of recession by the end of 2010.
The World Bank said on Thursday it had approved -million, interest-free credit to support Pakistan’s programme on economic stability.
Eskom gives cash-strapped Pamodzi Gold less than a week to settle its electricity bills amounting millions of rands to avoid power cuts at operations.
Nigeria’s regulatory authorities have long persisted in painting a rosy picture of the country’s banks despite the global financial meltdown.
The United States on Monday offered generous financing for private investors to help cleanse banks of up to -trillion in toxic assets.
Longtime pillars of the community are now pariahs fearing for their safety in a ritzy New York suburb that is home to many executives at AIG.
EU leaders will urge the G20 leading and emerging economies to double the size of the IMF’s arsenal for fighting global recession to -billion.
Edward M Liddy, chairperson and CEO of AIG, has become the reluctant defender of princely employee bonuses that Congress finds indefensible.
Ron Barnard is throwing in the towel. Like a number of homeowners who owe more on mortgages than their homes are worth, he’s ready to walk away.
Finance Minister Trevor Manuel says the world was warned about the current global financial crisis.
Cosatu: it does not make sense that the gold mines are jumping on the bandwagon of cutting jobs when the price of gold remains stable.
The South African economy could get worse before it gets better as it looks set to shrink by 0,5% this year, said RMB’s economics unit.
G20 finance ministers’ agreement to give more money to multilateral development banks will play a strong role in dealing with the global recession.
G20 finance ministers promised money to rescue troubled emerging market economies and said they would use monetary firepower to combat the downturn.
Bernard Madoff pleaded guilty on Thursday to charges he orchestrated the biggest swindle in Wall Street history, cheating investors out of billions.
Zambia has asked Glencore International AG to surrender to the government two mining units it plans to temporarily shut down.
Citigroup was profitable in the first two months of 2009 and is confident about its capital strength, chief executive Vikram Pandit said.
China’s thirst for resources including wood and minerals is leading to deforestation in Africa and the destruction of wildlife, said Jane Goodall.
Japan’s current account balance swung to its largest deficit on record in January, with the income surplus tumbling about a third from a year earlier.
Developing countries could face a financing gap of -billion to -billion this year as trade income dwindles and rich nations vie for capital.
African governments should continue their development spending plans and draw down foreign exchange reserves to bolster their economies, said the IMF.
Merrill Lynch has discovered an ”irregularity” in its London trading positions amid reports that a trader had been suspended over a -million loss.
General Motors (GM) on Thursday warned it would go bust within 30 days unless the US Treasury swiftly gives it a further multibillion-dollar loan.
United States Federal Reserve chairperson Ben Bernanke on Tuesday defended the government’s latest bailout of embattled insurer AIG.
American International Group lost -billion in just 92 days. That’s nearly 000 a minute. And it’s more money than Bill Gates’s net worth.
ANC leader Jacob Zuma has called on labour and business to ”make sacrifices” to avoid job losses, it was reported on Monday.
Insurer AIG is set to report a -billion fourth-quarter loss and take a -billion lifeline from the United States government.
American International Group is close to a deal with the United States government that would ease the terms of its bailout.
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/ 28 February 2009
The US government will boost its stake in Citigroup to as much as 36%, bolstering the bank’s capital base in the latest effort to save the bank.
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/ 27 February 2009
Chinese officials on Friday painted a mixed picture of the economy, with one saying the country was on track to hit its 8% growth target this year.
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/ 26 February 2009
Cosatu on Thursday expressed concern about companies using the global financial meltdown as an excuse to cut jobs and maximise profits.