Browsing All Posts By Kurt Osterberg
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IMF says swift action is needed to steady Europe’s banks
A quick recapitalisation of European banks is necessary to steady markets and avert the economy from falling into another recession, IMF Europe Director, Antonio Borges, said late on Wednesday. The pr... -
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Fitch cuts US credit outlook to negative
Fitch Ratings late on Monday warned the US it may cut its AAA rating if policymakers failed to agree on a “credible plan” to reduce its swelling budget deficit by 2013. There is a “slightly grea... -
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Britain’s FTSE hits worst losing streak in nine years
Britain’s blue-chip ended lower for the ninth consecutive session on Thursday, marking its worst run since January 2003, after Germany reiterated its opposition to the use of euro bonds or monetary ... -
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Nokia Siemens to cut 17,000 jobs worldwide
Telecoms equipment giant Nokia Siemens Networks has said it will be shedding 17,000 staff globally in an attempt to bolster profitability in a stagnating network gear market. The company plans to cut ... -
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Moodys downgrade South African debt rating
The South African rand dropped sharply against the USD and bonds depreciated as Moody’s Investor Services announced its intention to reduce its outlook on the country’s sovereign debt rating. The ... -
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Moody’s downgrade South African debt rating
The South African rand dropped sharply against the USD and bonds depreciated as Moody’s Investor Services announced its intention to reduce its outlook on the country’s sovereign debt rating. The ... -
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Stocks fall on US and Spain woes
Stocks in early trading in Asia slumped on Wednesday after a downward revision of US economic growth in the third quarter and rising yields on Spanish bonds. The US economy grew at a two percent annua... -
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Palestinian Authority’s reliance on US to be stretched
For several months, measures to reduce aid to the Palestinian Authority have been on the minds of many lawmakers in the United States. In August, the measures were actually implemented, effectively cu... -
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Syria and Turkey continue at loggerheads
While there has been a degree of strain in relations between Syria and Turkey for decades, recent events have created additional stress on an already tenuous relationship. Thanks to Turkish support of... -
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Grand US deficit-cutting effort ends with whimper
The Republican and Democratic leaders of a 12-member congressional “super committee” are set to declare defeat in a joint statement to be released after three months of talks failed to bridge deep...
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