Financialcrisis

United States President Barack Obama on Saturday defended a consumer watchdog agency that would strengthen the regulation of Wall Street.

The recovery in the SA economy appears to be lagging behind that of the global economy, the SA Reserve Bank (SARB) said on Wednesday.

Finance officials from rich and developing countries pledged on Saturday to maintain emergency support for their economies until recovery is assured.

One in four people are glad the economy slumped like it did, because it helped them realise their priorities in life, according to to a survey.

SA’s mining sector has shed close to 30 000 jobs due to the global economic downturn, but avoided greater losses, a senior official said.

South Africa’s economy may come out of recession later this year, the South African Reserve Bank’s deputy governor says.

The global economy is on unsteady legs, the World Bank warned on Friday, saying that 2010 would be ”a highly uncertain economic year”.

Federation president admits to a declining membership that threatens to weaken its finances.

Corruption acted as a catalyst for the global financial crisis, Transparency International said on Wednesday.

Tito Mboweni was among several world experts who didn’t provide adequate leadership to prevent the financial crisis, Thabo Mbeki said on Wednesday.

US President Barack Obama said on Sunday he would push leaders this week for a reshaping of the global economy in response to the financial crisis.

The economic crisis is affecting the poor the most, Jimmy Manyi, Director General in the Department of Labour, said on Wednesday.

Barack Obama will push for stricter oversight of Wall Street, using the anniversary of Lehman Brothers’ collapse to argue for sweeping changes.

SA must continue with the stimulus package it has adopted as a response to the financial crisis, Minister of Finance Pravin Gordhan said on Sunday.

G20 policymakers gathered in London are divided on how to ensure any recovery lasts and bankers don’t run riot with risk again.