Global News Journal

from Global Investing:

Never Mind The Bankers

November 17, 2008

Malcolm McLaren, the man who gave us The Sex Pistols, has found the real punks -- bankers. In an interview with Britain's The Observer, he says punk was not just about spiky hair and ripped t-shirts.

from Pakistan: Now or Never?:

“Plan C” – Pakistan turns to the IMF.

November 16, 2008

Pakistan has agreed with the International Monetary Fund (IMF) on a $7.6 billion emergency loan to stave off a balance of payments crisis. 

Bailing out Russian oligarchs

October 30, 2008

Posted by Guy Faulconbridge

Not all of Russia’s rich businessmen are queuing up for a loan under a government rescue package offering billions of dollars in state funds to bail out oligarchs who have been badly hit by the global financial crisis.

Russia talks to foreign investors – in private

October 30, 2008

Posted by Gleb Bryanski

Foreign investors who filed into a Moscow hotel on Wednesday anxious to hear what Russia’s anti-crisis tsar First Deputy Prime Minister Igor Shuvalov had to say about the future of the market were disappointed to find he had not shown up.

What will be the shape of the world’s new financial order?

October 22, 2008

A man protests outside the New York Stock Exchange October 13, 2008. Governments around the world bet hundreds of billions of dollars to rescue failing banks on Monday, sending world stocks soaring and giving Wall Street its biggest one-day gain ever. REUTERS/Shannon Stapleton (UNITED STATES)The global financial crisis has produced broad agreement that the world needs a new financial architecture, but world leaders are a long way from reaching agreement on what shape it should take.

Leaders unite over financial crisis, but is it enough?

October 13, 2008

Italy’s Prime Minister Silvio Berlusconi (C) gestures as he arrives with Greece’s Prime Minister Costas Karamanlis (2nd L) to attend a meeting at the Elysee Palace in Paris October 12, 2008. France’s President Nicolas Sarkozy and leaders of euro zone countries hold an emergency meeting in Paris to agree on specific, pan-European measures to prop up the battered financial sector and halt market panic. REUTERS/Eric Feferberg/PoolEuropean leaders have finally got their act together. After weeks of looking divided over how to tackle the global financial crisis, they agreed on joint measures at  emergency talks in Paris. 

‘Palin-speak’ catches on in Europe

October 8, 2008

palin.jpgPoliticians are always looking for new ways of dealing with the press and public. These days, for example, it is quite common for them to say they “misspoke” about something – a neat way of admitting to a mistake without actually doing so. This was made popular by the Richard Nixon’s old press secretary Ron Ziegler who would famously say something one day then announce “I misspoke myself” the next day. Such statements, Time magazine reported in 1973, were “not incorrect, not misinformed, not untrue – simply inoperative, like batteries gone dead”.Is it now possible that press-shy Republican vice presidential candidate Sarah Palin has come up with a new technique set to be emulated far and wide? During her debate with Democratic counterpart Joe Biden last week, she responded to one question by saying she was not going to answer it because she wanted to talk about something else.
darling.jpg
Probably coincidental, but British finance minister Alistair Darling did much the same thing on Wednesday as he was part nationalising Britain’s bank. “I think I heard enough to be able to answer you, or put it another way, here is the answer I am going to give anyway, regardless of what your question might be!,” he said in response to one question.

EU response to financial crisis-every man for himself

October 6, 2008

eu.jpgThe European Union has come under sharp criticism for having a fragmented approach to the financial crisis. It is exemplified by Ireland’s go-it-alone decision to guarantee all accounts and Germany’s surprise announcement after a meeting of leading members that it was taking unilateral action too.

U.S. Economic Crisis a Hot Topic on Chinese Blogs

October 2, 2008

By Oiwan Lam

Thomson Reuters is not responsible for the content of this post – the views are the author’s alone.

Financial Crisis: has the world changed?

October 1, 2008

1929.jpgThere are moments when tectonic plates shift and history changes course.

Sometimes those shifts are barely perceptible — the Treaty of Versailles that ended World War One but also bred German resentment and the rise of Nazism; the Yalta conference that helped create the United Nations as a guardian of peace but also led to the Iron Curtain that divided Europe for nearly half a century; and the Great Depression (arguably the greatest catastrophe of the 20th century, says Martin Wolf).