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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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- Tags: Wider IMF Powers
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 [...]
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 [...]
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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- Tags: northern rock
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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- Tags: currency report
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