The White House formally sent to the U.S. Senate on Thursday President Barack Obama's nomination of Ben Bernanke to a second term as Federal Reserve chairman. Obama had announced on Aug. 25 he was keeping Bernanke in place, a move aimed at continuity at a time when the U.S. economy has shown signs of breaking
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Moody's Investors Service has downgraded the long-term foreign and local currency deposit ratings of Technikabank (TB) to B3 from B2. The outlook for the long-term deposit ratings and the bank financial strength rating (BFSR) is stable following the downgrade. The downgrade reflects the bank's overall weakened risk profile as evidenced by deterioration of its asset
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World leaders will commit to keep spending to prop up their economies at a G20 summit next week, Russia said on Wednesday, while France appeared to tone down its rhetoric on the issue of bank bonus caps. The Kremlin's economic adviser said leaders from the world's 20 largest economies agreed now was not the time
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Expanding numbers of young Greeks unemployed By Ingrid Melander and Renee Maltezou ATHENS, Sept 17 (Reuters) – Growing youth unemployment in Greece will drive voters away from the conservatives on Oct. 4, but the opposition has yet to convince voters it has a better cure for what has become a chronic disease. Unemployment among young
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Cyprus’ trade balance recorded a deficit of 2,3 billion euro during the first semester of 2009. According to data from the Statistical Office of the European Communities (Eurostat), Cyprus’ trade balance during the first semester of 2009, decreased by 700 million euro, compared to the corresponding period last year. Cyprus’ total value of exports reached
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New U.S. housing starts and permits rose in August to their highest level in nine months and the number of people filing of unemployment benefits fell last week, evidence a solid economic recovery was underway. The Commerce Department said on Thursday housing starts rose 1.5 percent from July to a seasonally adjusted annual rate of
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U.S. President Barack Obama has told east European states he is backing away from plans for an anti-missile shield there, in a move that may ease Russian-U.S. ties but fuel fears of resurgent Kremlin influence. Russia said it would welcome abandonment of the plans, which have been a major source of Russian-U.S. tensions. Poland said
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U.S. President Barack Obama has told east European states he is backing away from plans for an anti-missile shield there, in a move that may ease Russian-U.S. ties but fuel fears of resurgent Kremlin influence. Russia said it would welcome abandonment of the plans, which have been a major source of Russian-U.S. tensions. Poland said
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Banks will be singled out by the European Commission next week as often having opaque fee structures and could face action to improve treatment of account holders, an official at the EU executive said on Thursday. A report to be presented by European Union Consumer Protection Commissioner Meglena Kuneva on Tuesday will say many banks
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European stocks were up 0.6 percent around midday on Thursday, trading at 11-month highs with banks such as UBS pacing the gains, driven by mounting optimism over a quick global economic recovery. But the gains were limited by weaker-than-expected quarterly software sales from U.S. firm Oracle Corp, which dragged down tech shares such as Germany's
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