Category Archives: Banks

Malta could be next Cyprus; Stockton is most populous bankrupt US city; Britain, the world and end of free lunch?

1 Malta could be next Cyprus (Guy Verhoftstadt in Khaleej Times) Now that the crisis in Cyprus has been temporarily resolved, the unspoken question is: Who’s next? Perhaps Malta, which has an even bigger banking sector than Cyprus relative to … Continue reading

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Commerzbank plans 6,000 job cuts; Spain young jobless rate at 55%; China’s influence in Africa; Common capital of India and Pakistan; Yes, paved yards are illegal

1 Commerzbank plans 6,000 job cuts (BBC) Germany’s second-biggest lender Commerzbank is planning to cut as many as 6,000 jobs, or more than 10% of its workforce. The bank said it wants to cut between 4,000 and 6,000 full-time employees … Continue reading

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India minister to Europe: Get your act together; IMF sees global recovery ‘weakening’; Competitors at Apple’s heels; Share of US workers in union at 97-year low; Lloyds job cuts reach 38,000

1 India minister to Europe: Get your act together (Natasha Brereton-Fukui & PR Venkat in The Wall Street Journal) India’s finance minister criticized euro-zone members for not being on the same page on tackling the region’s debt crisis, saying that … Continue reading

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Bleak day for British banking; Who pays for banks’ sins?; UK Christianity in dramatic decline; India college bans jeans for girls; India far from overtaking China

1 Bleak day for British banking (Jill Treanor in The Guardian) The reputation of Britain’s banking industry took a fresh battering when HSBC was slapped with a record $1.9bn fine by US regulators for money laundering and sanctions busting, the … Continue reading

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Eurozone agrees on Greek bailout; Arcelor Mittal no longer welcome in France; How secret offshore funds buy up London; Big business corrupting economics; UN condemns female genital mutilation

1 Eurozone agrees on Greek bailout (BBC) Eurozone finance ministers and the IMF have reached a deal on an urgently needed bailout for debt-laden Greece. They have agreed to cut debts by 40bn euros ($51bn) and have paved the way … Continue reading

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Income inequality killing capitalism; Eurozone output shrinks again; Fear of Like in India

1 Income inequality killing capitalism (Robert Skidelsky in The Guardian) It is generally agreed that the crisis of 2008-2009 was caused by excessive bank lending, and that the failure to recover adequately from it stems from banks’ refusal to lend, … Continue reading

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Fears of a triple-dip recession; ‘Most important week of 2012’; Why darker women must be featured in ads; India monsoon may fail more often

1 Fears of a triple-dip recession (Josephine Moulds in The Guardian) Hopes the economy is on the road to recovery have been dampened by figures showing retail sales stalled last month and growth in Britain’s services sector almost ground to … Continue reading

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