A Reuters exclusive today describes a method China used recently to hide some of its U.S. Treasury purchases - "US caught China buying more Treasuries than disclosed."
The Great Debate UK
By Dr Gerard Lyons
This was a good budget in difficult times. Trouble is, just how difficult the times are is still not fully appreciated. The economic environment the Chancellor inherited was not good. The recent economic performance has not been good. And there is no reason to think it will get better anytime soon. Indeed the scale of fiscal tightening previously announced will probably weaken growth further in the near-term. The UK economy faces a long, hard slog.
from UK News:
During his speech to the House of Commons announcing how he would cut government spending, Chancellor George Osborne insisted that the richest 10 percent of Britons would bear the brunt of austerity measures.
Uncle Sam is ready to get out of Citi. The U.S. Treasury is set to unload its 27 percent stake in the banking behemoth roughly two years after rescuing it. The exit should deliver a healthy profit for taxpayers. That's a relief for skeptics of the bailout, and represents another financial success story for the authorities managing the crisis. But Citigroup has hardly been turned around since the government stepped in.
— Neil Collins is a Reuters columnist. The views expressed are his own –
National Insurance contributions make an unlikely battleground for the British election. They lack the sexiness of income tax cuts. But NI is a bad tax and the Tories are right to pledge to overturn Labour’s plan to raise it.
America's big banks aren't being broken up. Nor does it appear there will be strict new limits on their activities. And while lenders may have to cope with a new consumer regulator, its power and scope is evanescing daily. If there is any group from Wall Street deserving of fat bonuses this year, it's the industry's lobbyists in Washington.
from UK News:
Shadow Chancellor George Osborne says British retail banks should be stopped from paying big cash bonuses and use the money instead to support new lending.