Daily News Channel
Brazil is no stranger to economic crises. In the 1970s and ’80s, Latin America’s economic giant turned financial mismanagement into an art form. The current global turmoil has not left Brazil unscathed: stock prices, exports and growth are all down.
As U.S. Treasury Secretary Timothy Geithner warned this week that the U.S. recession is deepening and Japan’s Prime Minister Taro Aso said there is “no bottom in sight” for his sinking country, many investors turned to China for a measure of hope.
When you’ve been strong and fit your whole life, it can be easy to discount your body’s first whispers of sickness as merely the side effects of daily living. Looking back over the past three years, my older brother Patrick now understands the meaning of his increasingly frequent bouts of fatigue, his fluctuating appetite and the fact that his blood pressure had crept up to 150/90.
A number of economists predict that the recession could last into 2010 and unemployment will top 10%. If the crisis does not deepen into an even longer downturn, there will have to be early signs that the credit crisis is ending and that consumer and business confidence are coming back. And, there are a few things to watch for.
CNN’s Larry King talked with Republican Gov. Bobby Jindal in a prime-time exclusive interview Monday night
The United States has offered more than $900 million to help the Palestinian people, particularly those in Gaza, Secretary of State Hillary Clinton announced Monday. “Only by acting now can we turn this crisis into an opportunity that moves us closer to our shared goals,” Clinton said at a Gaza donors conference hosted by Egypt in the Red Sea resort city of Sharm el-Sheikh
HSBC on Monday announced a 62 percent slide in annual pre-tax profits to $9.3 billion, delivering a further blow for the beleaguered UK banking industry. The bank also confirmed it would seek to raise $17.7 billion through a shares issue to bolster its capital strength — a record sum for a British company. Highlighting $15.5 billion losses in its U.S
HSBC on Monday announced a 62 percent slide in annual pre-tax profits to $9.3 billion, delivering a further blow for the beleaguered UK banking industry.
European Union leaders were meeting Sunday for an emergency summit in Brussels amid growing fears that national protectionism will sabotage coordinated efforts to reverse the current economic decline. The summit, called by Czech Prime Minister and President of the European Council Mirek Topolánek and President of the European Commission José Manuel Barroso, will address the ways in which the individual member states implement their recovery plan and fight the impact of the financial crisis. The meeting follows French president Nicolas Sarkozy’s promise last week to bail out his country’s auto industry if it did not move jobs out of France.
India has called for a "pause" in the fighting between Sri Lankan forces and Tamil rebels to allow the evacuation of thousands of civilians trapped in the nation’s northern war zone. In a statement issued Saturday, India’s external affairs minister, Pranab Mukherjee, warned that the humanitarian crisis was “building up with every passing day” in Sri Lanka.