Daily News Channel
China needs an “urgent” tightening of monetary policy to prevent the huge stimulus measures introduced this year from inflating stock and property bubbles, one of the country’s leading bankers has warned. Qin Xiao — chairman of China Merchants Bank, the country’s sixth-biggest — says in Thursday’s Financial Times that the government should not be afraid of a “moderate slowdown” in the economy.
King says Britain’s Main Street banks should be separated from their risky investment arms to dissolve a culture in which some banks can fall back on the knowledge that they are “too important to fail” and thus can keep gambling with vast amounts of public cash. The governor’s comments come as leading financial houses — including recipients of taxpayer-funded bailouts — prepare to pay out large bonuses, angering many who fear this signals a return to pre-economic crisis rewards for reckless profit-seeking
Miss California USA officials want Carrie Prejean to repay $5,200 they say she borrowed to have her breasts augmented last year. The demand was a response to a lawsuit filed by Prejean in which she claimed pageant officials violated the former beauty queen’s privacy by acknowledging to reporters that her breasts were fake
Raj Rajaratnam, the New York-based billionaire and hedge fund manager charged in an alleged insider trading scheme on Friday, was funding the Liberation Tigers of Tamil Eelam, which is considered a terrorist group by the US, the Sri Lankan government claimed on Sunday. Brigadier Udaya Nanayakkara, spokesman for the Sri Lankan defence ministry, told the Financial Times that the government had been monitoring Mr Rajaratnam for several years.
A bomb detonated in the border city of Peshawar on Friday, killing at least 11 people one day after a series of deadly militant attacks rocked Pakistan. The optimism reflected what the company said was an across-the-board recovery in online advertising, with even the struggling financial services sector showing a return to growth.
China ranks second only to the United States in the number of billionaires, according to an annual report of the 1,000 richest people in the country. The Hurun Rich List counted 130 billionaires in China this year, up from 101 a year ago and none in 2003.
President Obama will visit New Orleans on Thursday for the first time since taking office, to address rebuilding efforts in the city ravaged by Hurricane Katrina four years ago.
Leslie Elder’s eyelids fluttered open, and through the fog of pain medication, she saw the emergency room doctors pull back the curtain in her room. She could tell that the news was bad
When Sam Antar was cooking the books for his company, he used a number of complicated accounting tricks to dupe auditors. But some tactics were simple
Greek voters head to the polls Sunday to elect a new government, two years before the elections were originally scheduled. Prime Minister Kostas Karamanlis called the early elections in response to pressure from the opposition Panhellenic Socialist Movement