The banks from the United States and Europe would need $875 billion (675 billion euro) by the end of the year to return at a level similar to that in the years before the financial crisis. Double that amount would be needed to match the performance obtained in the mid ’90s, according to the [...]
The U.S. economy is giving signs of slow but steady growth, announced the International Monetary Fund (IMF).
“There was an improvement in confidence in the business environment, signs of stabilization on mortgage market, but it is still early and should not expect a return on the increase too soon “said Charles Collyns, deputy director of the [...]
Student loan consolidation is a truly useful tool for consolidating student loans and other forms of unsecured debt. If you have outstanding private, direct, Federal and/or medical student loans, then you can go for student loan consolidation.
This would also help you when you have unsecured debts with high interest rates, such as outstanding medical bills, [...]
A VAT increase, freezing salaries and reducing subsidies are among measures taken by the new government in Budapest.
Bajnai Gordon, 41 years old, the new Hungarian Prime Minister, will increase VAT from 20% to 25%, but will decrease taxes on wages and income. Bajnai said that the modifications of a tax are designed to boost job [...]
The International Monetary Fund (IMF) estimates that the global economy will stay in a recession that is longer and more serious than previous ones, before a “light” return, according to the report on prospects for the global economy.
The IMF report shows that the global recession and the financial crisis will lead, most probably, to an [...]
The Industrial and Commercial Bank of China (ICBC), already the largest lender in the world based on market capitalization, recently became the largest bank globally in the terms of volume of deposits, the Financial Times writes.
ICBC has attracted deposits worth 1300 billion U.S. dollars (986 billion euro) to the end of past mounth, outgrowing bank [...]
The Russian economy will contract by 5.5% in 2009, while GDP will fall by 3% in Kazakhstan and 15% in Ukraine, according to estimates by investment bank Goldman Sachs.
Bank has reduced the forecast growth from Russia, Kazakhstan and Ukraine, as the global outlook continues to deteriorate, says Bloomberg.
The three countries “have suffered on the background [...]
German finance minister, Peer Steinbrueck, has made a plan to remove toxic assets from the balance sheets of banks based on government funding for financial institutions, in order to create so-called “bad banks”, says Bloomberg.
Ministry of Finance has submitted to the Chancellor Angela Merkel, and officials of the administration and industry to decided on the [...]
The Economy in the European Union contracted in the last quarter of 2008 by 1.5% compared with the similar period in the previous year, according to data from the European Statistics Institute – Eurostat.
The report of the previous quarter, gross domestic product in the EU-15 decreased by 1, 6%. Throughout the building community, the economy [...]
According to a recent statement by Barack Obama, humanity needs new financial rules to prevent abuses in the future. Obama admitted, more or less directly, that the current global financial system is rotten and corrupt and that it requires a change from the groundup to avoid the emergence of new crises.
”The world needs a [...]
Unemployment has reache 8.1% in the U.S. in February. This is the highest rate of unemployment reached in the U.S. in the last 25 years.
Americans Employers have made 651,000 people in February, inducing an advance rate of unemployment to maximum of the last 25 years, in the context in which firms face with difficulties because [...]
