Archive for the ‘News Briefing’ Category

The US and UK rejected suggestions from the emerging nations that the IMF required more firepower in order to beat the crisis in the eurozone. This created a discordant start to the G20 finance ministers meeting in Paris.
According to US Treasury secretary–Tim Geithner, it is said that the Fund had “very substantial resources that are [...]

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The Obama administration sought to stop a lawyer for a former C.I.A. officer convicted in Italy in the kidnapping of a radical Muslim cleric from sharing classified information about the case privately with a Federal District Court judge.
In a hearing before the judge–Beryl A. Howell, the Justice Department argued that only the executive branch has [...]

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When settling a five-month investigation by the FSA launched in the wake of a high-profile US fraud case, Goldman Sachs was given a choice of either swallowing a larger fine for control failings, or accepting a potentially more withering critique of its compliance practices.
The GBP17.5 million sanction by the FSA was shared. Though it may [...]

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Northern Rock Asset Management (NRAM), the so-called “bad bank” is part of the old Northern Rock business, has reported a return to profitability.
NRAM holds most of the rescued old bank mortgages and unsecured loans. The profit before tax amounted to £ 349.7m for the first six months of the year, compared with a loss of [...]

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The Obama administration announced today that it would delay a decision on whether to declare China a currency manipulator. However, it vowed to press Chinese governors on the politically charged issue of the nation’s currency valuation during a series of meetings in June.
This action of the US Treasury seemed intended to send a reassuring message [...]

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