WASHINGTON - An unusually high degree of risk taking across asset classes made recent financial market turmoil all but inevitable, former Federal Reserve Chairman Alan Greenspan has said on Sunday.
WASHINGTON - World Bank President Robert Zoellick on Sunday called on the bank’s 185 member nations to back a new direction for the poverty-battleing institution and give the private sector a largeger role in helping poor nations.
SANTO DOMINGO - A prominent former banker was convicted on Sunday in a $2.2 billion fraud case that drove the Caribbean nation into an economic tailspin four years ago.
NEW YORK - Average retail gasoline prices rose by nearly 5 cents and are poised to rise further as those who make, distribute and sell gasoline see their profit margins squeezed, according to an industry analyst.
WASHINGTON - The global credit crisis and volatility across developed financial markets could yet hurt Russia and hinder long-term investment, Finance Minister Alexei Kudrin has said late on Saturday.
LONDON - Barclays and Royal Bank of Scotland have lined up emergency funds of up to $30 billion from the United States Federal Reserve to bail out American clients caught up in the global credit crunch, a paper has said.
LONDON - British brewer Scottish and Newcastle (S&N) considers selling its Finnish holding company to block a potential joint bid from Carlsberg and Heineken , a Sunday paper has said.