Developing countries could face a financing gap of -billion to -billion this year as trade income dwindles and rich nations vie for capital.
United States Federal Reserve chairperson Ben Bernanke on Tuesday defended the government’s latest bailout of embattled insurer AIG.
Insurer AIG is set to report a -billion fourth-quarter loss and take a -billion lifeline from the United States government.
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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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/ 25 February 2009
President Barack Obama sought to strike a delicate balance between hope and reality on Tuesday to reassure Americans mired in the economic crisis.
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/ 24 February 2009
The US vowed to prop up ailing banks if needed, with the government set to take a bigger stake in Citigroup and inject yet more cash into insurer AIG.
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/ 23 February 2009
Citigroup is in talks that could result in the United States government increasing its stake in what was the country’s most valuable bank.
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/ 22 February 2009
As their market values fall far below the level of funds received by the government, top US banks have become virtually state owned.
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/ 19 February 2009
Government, business and labour finalised a blueprint on Thursday for minimising the effect of the global financial crisis on the SA economy.
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/ 19 February 2009
United States President Barack Obama pledged up to -billion on Wednesday to help stem a wave of home foreclosures.
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/ 18 February 2009
Barack Obama was set on Wednesday to unveil a plan to stabilise the troubled housing market, a main cause of the economy’s deepening slump.
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/ 14 February 2009
Congress passed a -billion stimulus plan to jump-start the economy on Friday, as G7 finance chiefs vowed to ward off the specter of protectionism.
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/ 12 February 2009
Barack Obama may think words like ”catastrophe,” or ”crisis” will help sell his rescue plans, but history has shown that scare tactics can backfire.
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/ 6 February 2009
US Senate Majority Leader Harry Reid halted debate on a -billion rescue Bill late on Thursday, but said lawmakers would resume work Friday.
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/ 3 February 2009
Australia unveiled a stimulus package and Japan announced a share-buying programme to assist banks on Tuesday in efforts to buoy their economies.
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/ 27 January 2009
US President Barack Obama will on Tuesday hold talks with congressional Republicans who complain his -billion stimulus plan is too expensive.
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/ 19 January 2009
Britain is set to announce its second bank rescue and the incoming US administration said it will make its funds work harder to get credit flowing.
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/ 19 January 2009
After a seemingly endless transition period, Barack Obama has a daunting to-do list when he finally takes office on Tuesday.
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/ 16 January 2009
Ailing US banking giant Citigroup reported on Friday that it was splitting into two businesses to restore profitability.
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/ 16 January 2009
African countries are experiencing significant capital outflows as a result of the global economic downturn, Trevor Manuel said on Friday.
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/ 14 January 2009
US president-elect Barack Obama promised on Tuesday stricter control over a financial rescue package, winning over some skeptical lawmakers.
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/ 13 January 2009
Business did not experience a good holiday period and retail sales are still down, the SA Chamber of Commerce and Industry said on Tuesday.
President-elect Barack Obama on Wednesday warned "Wall Street has not worked" and promised a "substantial overhaul" of the US financial markets.
Dubai’s rapid expansion in recent years provided jobs for millions. But the global financial meltdown has abruptly ended the dream for many people.
Chrysler on Friday received a -billion loan from the US government, two days after the government completed a parallel payout to General Motors.
Investors said good riddance on Wednesday to one of the worst years and prayed that rescue plans will pull the global economy out of its tailspin.
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/ 28 December 2008
It was the year the neo-liberal economic orthodoxy that ran the world for 30 years suffered a heart attack of epic proportions.
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/ 27 December 2008
As the US stock market heads into the last week of the year, what was inconceivable just 12 months ago is now a stark possibility.
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/ 24 December 2008
In the season of goodwill, Henry Paulson is proving to be an American Santa Claus, doling out sacks of money to aid ailing businesses across the US.
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/ 22 December 2008
Hammered by waning global demand and a surging yen, Toyota slashed its earnings forecast again on Monday.
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/ 17 December 2008
Despite a winning concept amid global climate concerns, Norwegian electric carmaker Think may see its dreams come to a screeching halt.
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/ 16 December 2008
The Fed appeared set to cut interest rates to within sight of zero on Tuesday and Japan was weighing steps to ease funding.