Federal Reserve Chairman Ben Bernanke, in a rare comment on the U.S. dollar's value, on Monday acknowledged the currency's slump was causing some prices to rise, but said other factors restraining inflation were winning the day. While showing he was not indifferent to the dollar's slide, Bernanke said tight credit and a weak job market
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Turkey must contribute to the solution of the Cyprus problem based on the relevant UN resolutions and the EU principles and values, House President Marios Garoyian has stressed. Garoyian noted that Cyprus supports Turkey’s EU accession course, provided that Ankara fulfills its EU obligations, including the ones concerning the Republic of Cyprus. The House President
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Lehman Brothers Holdings Inc has filed a lawsuit against Barclays Capital Inc alleging the British bank took control of excess assets in collusion with Lehman executives when it bought its U.S. brokerage business a year ago, court documents show. Lehman filed for bankruptcy on September 15, 2008, in the largest U.S. bankruptcy in history. Its
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Celebrities beware: YouTube is making it even easier for anyone with a camera phone to turn your behavior — be it mundane or sensational — into news. The world's top purveyor of Internet video has launched YouTube Direct, whereby TV and online news editors can obtain video from so-called "citizen journalists" — and even request
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The imperative of greater global currency stability means the world can no longer rely, as it has done since the end of the gold standard, on a currency issued by a single country, the head of the IMF said on Tuesday. Dominique Strauss-Kahn, the managing director of the International Monetary Fund, restated his view that
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Asian stocks surrendered early gains on Tuesday as investors took profits from recent gains, while the dollar was pinned near 15-month lows after Federal Reserve Chairman Ben Bernanke repeated the central bank was likely to keep interest rates at very low levels for some time. Gold eased off record highs set on Monday but held
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U.S. retail sales grew more than expected last month as vehicle sales bounced back from a deep slump, but non-auto sales edged up just slightly, suggesting consumers remain cautious. Other data on Monday showed New York state manufacturing activity slowed this month, further highlighting the uneven nature of the economic recovery. The Commerce Department said
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Greek Cypriots, living in Britain, have condemned the illegal declaration of independence (UDI) by the Turkish Cypriots in the northern Turkish-occupied part of Cyprus. A picket to condemn the UDI was organised on Sunday by the National Federation of Cypriots in the United Kingdom, outside the Turkish embassy in London. A delegation of the Federation,
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Advantage Capital Holdings Plc (former Aspis Holdings) announced that its subsidiary, Commercial Value SA has reached a preliminary agreement to sell its stake in Aspis Bank to the Restis Group, of Victor Restis family. Specifically, Commercial Value SA will transfer the Rights that it holds in Aspis Bank to Restis Group for the sum of
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U.S. stock index futures gained on Monday, taking a cue from rising global markets, as a weaker dollar lifted commodities prices in a potential boost to natural resource stocks. Investors will look to October retail sales data for clues about consumer spending ahead of the holiday season, and the New York Federal Reserve's Empire State
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