Archive for the 'Economy' Category
Ivory Coast: Aid Workers Find 1,000 Bodies in Duekoue
April 3rd, 2011Is a NATO invasion going to follow? Via: Telegraph: The single biggest atrocity in the long battle for control of Ivory Coast has emerged after aid workers discovered the bodies of up to 1,000 people in the town of Duekoue. Charity workers who reached Duekoue said it appeared the killings had taken place in a […]
Libya-Owned Arab Banking Corp. Drew at Least $5 Billion From Fed in Crisis
April 1st, 2011Via: Bloomberg: Arab Banking Corp., the lender part- owned by the Central Bank of Libya, used a New York branch to get 73 loans from the U.S. Federal Reserve in the 18 months after Lehman Brothers Holdings Inc. collapsed. The bank, then 29 percent-owned by the Libyan state, had aggregate borrowings in that period of […]
Foreign Banks Tapped Fed’s Lifeline Most as Bernanke Kept Borrowers Secret
April 1st, 2011Via: Bloomberg: U.S. Federal Reserve Chairman Ben S. Bernanke’s two-year fight to shield crisis-squeezed banks from the stigma of revealing their public loans protected a lender to local governments in Belgium, a Japanese fishing-cooperative financier and a company part-owned by the Central Bank of Libya. Dexia SA (DEXB), based in Brussels and Paris, borrowed as […]
More Flash Crashes
March 31st, 2011Via: Reuters: Ten new exchange-traded funds suffered their own mini “flash crashes” shortly after the U.S. stock market opened on Thursday, suggesting recent measures put in place to protect against extreme market moves may not be enough. Nasdaq OMX Group Inc said it canceled trades in 10 new ETFs sponsored by Scottrade affiliate FocusShares, some […]
Corn: Limit Up
March 31st, 2011Via: Bloomberg: Corn rose the most allowed by the Chicago Board of Trade as concerns mounted that food costs will climb after the latest U.S. government forecasts on supplies and acreage. Soybeans and wheat also jumped.
Fed Releases Discount-Window Loan Records Under Order
March 31st, 2011Via: Bloomberg: The Federal Reserve released thousands of pages of secret loan documents under court order, almost three years after Bloomberg LP first requested details of the central bank’s unprecedented support to banks during the financial crisis. The records — 894 files in PDF form that must be individually opened and read — reveal for […]
Oil Climbs to Highest Since 2008
March 31st, 2011Via: AP: The price of oil rose to a 30-month high on Thursday as fighters loyal to Moammar Gadhafi pushed back rebels from key areas in eastern Libya. Benchmark West Texas Intermediate crude rose $2 to $106.27 a barrel in midday trading on the New York Mercantile Exchange. At one point it hit $106.77, the […]
Spain: One in Five Under 30 Still Looking for That First Job
March 30th, 2011Via: Guardian: At 43%, Spain’s youth unemployment is the highest in the EU by far, and more than double the average. For those aged 16 to 19 the rate is 64% – an 11% increase on the previous year. One in five of those under the age of 30 are still looking for their first […]
Ireland: Banking Wreck Much Worse Than Previously Thought
March 30th, 2011Via: BBC: Ireland’s central bank and new government will confirm on Thursday that the hole in the country’s banks is even wider, deeper and darker than seemed to be the case last November, when those bust banks forced the country to go with a begging bowl to the European Central Bank (ECB) and the International […]
NSA Investigating Cyber Attack on NASDAQ
March 30th, 2011Via: Bloomberg: The National Security Agency, the top U.S. electronic intelligence service, has joined a probe of the October cyber attack on Nasdaq OMX Group Inc. (NDAQ) amid evidence the intrusion by hackers was more severe than first disclosed, according to people familiar with the investigation. The involvement of the NSA, which uses some of […]
