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PH to be affected by US default

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Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr.: Positive for global markets. FILE PHOTO

The global economy faces dire consequences rivaling the effects of the 2007 global financial crisis if the US government fails to raise its debt ceiling and default on some of its loans by the Oct. 17 deadline.

Posted: October 7th, 2013 in Editor's Pick,Headlines | Read More »

Global stocks jittery after US government shutdown

A woman walks past a screen showing the world stock index at Hong Kong Stock Exchange in Hong Kong, Wednesday, Oct. 2, 2013. The Asian Development Bank cut its economic growth forecast for developing Asia on Wednesday, citing weakness in region's two largest economies China and India and jitters over plans to scale back U.S. stimulus that destabilized financial markets. AP

Global stocks remained jittery Wednesday on fears that a partial shutdown of the U.S. government could undermine the country’s fragile economic recovery.

Posted: October 2nd, 2013 in Latest Business Stories | Read More »

A year after bailout fears, Spain wins back investors

AP FILE PHOTO

Cast as the sick man of the eurozone a year ago, Spain seems at last to be luring back investors despite lingering threats to its recovery.

Posted: September 22nd, 2013 in Latest Business Stories | Read More »

Eurozone recession end is cold comfort for Greece

An elderly man carries shopping bags at Athens' central fruit and vegetable market, on Tuesday, Aug. 13, 2013. Greece is beating its budget targets by a wide margin so far this year, a sign the country's painful cost cuts and tax increases, combined with international bailout funds, are paying off. AP

Europe’s recession is over, thanks to second-quarter growth in big countries Germany and France and an improvement in some of the smaller ones that have been hit hard by the financial crisis. But the pain is not over as many still have mountains of public debt to pay off and record unemployment. It’s also uncertain how long a recovery can be sustained.

Posted: August 14th, 2013 in Latest Business Stories | Read More »

Barclays to sell shares to boost capital position

Britain Barclay's

Barclays plans to sell 5.8 billion pounds ($8.9 billion) in new shares to bolster its balance sheet amid new regulatory requirements meant to prevent a repeat of the 2008 financial crisis.

Posted: July 30th, 2013 in Latest Business Stories | Read More »

Foreign funds in aid of SMEs shrinking

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Lourdes Pineda: Professionalize.  PHOTO FROM RCBC.COM

The global financial crisis put the squeeze on the microfinance sector in the last four years, resulting in a drop in the flow of foreign donor money that allowed lenders to provide cheap financing to small borrowers.

Posted: July 24th, 2013 in Latest Business Stories | Read More »

Innovating to rebound

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Does it make sense for a car manufacturer to continue investing in future growth and to increase spending on the research and development of innovations when sales are slumping due to a financial crisis? It made sense for BMW during the subprime mortgage crisis that hit the United States in 2008-2009. BMW cut production back then but expanded its factory in Spatenburg and added a second factory in China. The gamble paid off: BMW continues to post phenomenal sales growth in China, up 39 percent in the third quarter of 2012, and a more modest 1-percent rise in the United States in the same period.

Posted: May 28th, 2013 in Motoring | Read More »

Asian economies to rebound but recovery fragile- ADB

AFP PHOTO

The Asian Development Bank said Tuesday the region’s emerging economies would pick up this year but warned that the recovery remained fragile due to the eurozone crisis and tensions in Asia.

Posted: April 9th, 2013 in Latest Business Stories | Read More »

Savings account seizure plan draws fury in Cyprus

A protestor holds out her hand during a protest outside the parliament in Nicosia, Cyprus, Monday, March 18, 2013. A plan to seize up to 10 percent of savings accounts in Cyprus to help pay for a €15.8 billion financial bailout was met with fury Monday, and the government shut down banks until later this week while lawmakers wrangled over how to keep the island nation from bankruptcy.  AP PHOTO/PETROS KARADJIAS

A plan to seize up to 10 percent of savings accounts in Cyprus to help pay for a €15.8 billion financial bailout was met with fury Monday, and the government shut down banks until later this week while lawmakers wrangled over how to keep the island nation from bankruptcy.

Posted: March 19th, 2013 in Latest Business Stories | Read More »

Transcripts show Fed underestimated crisis in 2007

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In this Wednesday, Dec. 12, 2012 file photo, Federal Reserve Chairman Ben Bernanke speaks during a news conference at the Federal Reserve Board in Washington. Federal Reserve policymakers expressed broad support in December 2012 for the Fed's plan to buy bonds to support the U.S. economy. But they differed over how long to keep buying bonds to drive down long-term interest rates. Minutes of the Fed's December policy meeting show that some of the 12 voting members thought the bond purchases would be warranted through the end of 2013. AP Photo/Manuel Balce Ceneta, File

Federal Reserve officials in 2007 badly underestimated the scope of the approaching financial crisis and how it would tip the U.S. economy into the deepest recession since the Great Depression, transcripts of the Fed’s policy meetings that year show.

Posted: January 19th, 2013 in Latest Business Stories | Read More »

WB says recovery remains fragile, uncertain

Four years after the onset of the global financial crisis, the world economy remains fragile and growth in high-income countries is weak. Developing countries need to focus on raising the growth potential of their economies, while strengthening buffers to deal with risks from the Euro Area and fiscal policy in the United States, says the World Bank in the newly released Global Economic Prospects (GEP) report.

Posted: January 16th, 2013 in Headlines | Read More »

Global regulator eases liquidity rules for banks

bank-for-international

The world’s top banking regulatory body on Sunday eased the first global liquidity rules scheduled to start applying to banks in 2015 and aimed at improving their ability to survive financial crises.

Posted: January 7th, 2013 in Latest Business Stories | Read More »

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