Category: Other
Bradford & Bingley may be nationalised: reports
LONDON, September 27, 2008 (AFP) – British mortgage lender Bradford & Bingley, which has been hit by a housing downturn and weakness in the wider economy, may be nationalised, newspapers reported Saturday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The Daily Telegraph and Daily Mail newspapers […]
Obama passes presidential threshold in first debate: analysts
WASHINGTON, September 27, 2008 (AFP) – Neither Barack Obama nor John McCain landed a knockout blow in their first presidential debate late Friday, but the youthful Democrat may have just scored a points victory by standing his own. Each campaign trumpeted favorable reviews from the instant punditry of television talking heads as Republican McCain played […]
US lawmakers try to close deal on financial rescue
WASHINGTON, September 27, 2008 (AFP) – US lawmakers held urgent negotiations on Saturday in a bid to agree a 700-billion dollar Wall Street bailout before markets reopen after the weekend, voicing optimism a deal was within reach. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 […]
Indians lead world in millionaire growth: report
MUMBAI, September 26, 2008 (AFP) – India is minting new millionaires at a faster pace than anywhere else in the world, buoyed by a fast-growing economy, according to a new study. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 There were an estimated 123,000 millionaires in India […]
Late-night crisis talks in Congress break up with no deal
WASHINGTON, September 26, 2008 (AFP) – Republicans stymied a late-night session of talks designed to resurrect an enormous economic bailout package but new negotiations will be held in the morning, a top Democrat said late Thursday. Barney Frank, chairman of the House of Representatives financial services committee, said a House Republican introduced an alternative plan […]
Funny Money
Sept 26, 2008 (LBO) – Sri Lanka’s central bank has named six entities as illegally taking money from the public and engaging in lending or investment activities, including a recently collapsed firm. The central bank said Okanda Finance (Pvt) Ltd of Waidya Road, Dehiwela, Nadini Finance (Private) Limited of 17, Reality Plaza, Colombo Road, Ja- […]
Dutch bank Fortis shares plunge on asset sale reports
THE HAGUE, September 26, 2008 (AFP) – Shares in Belgian-Dutch bank Fortis fell more than 12 percent Friday, having lost some 20 percent at one stage the previous day despite its denial that it faced liquidity problems. Press reports Friday said the giant banking group was looking at asset sales of up to 10 billion […]
Canadian scientists discover oldest rocks on Earth
WASHINGTON, September 26, 2008 (AFP) – The oldest rocks on Earth have been discovered in Canada, offering scientists a glimpse at the origins of the planet, announced scientists in a study to be published Friday. The rocks, found in a belt of ancient bedrock in Quebec, are estimated to be 4.28 billion years old. The […]
‘s Pizza Hut withdraws tainted Fonterra cheese
TAIPEI, September 26, 2008 (AFP) – Taiwan’s Pizza Hut said Friday it had pulled grated cheese from its outlets after they were found to contain unacceptably high levels of the industrial chemical melamine. “Our delivery shops island-wide have stopped supplies of the grated cheese after tests for melamine showed higher than the allowed levels. We […]
Japanese consumer prices rise 2.4 percent in August
TOKYO, September 26, 2008 (AFP) – Japan’s inflation rate stayed at a decade high of 2.4 percent in August as soaring energy costs continued to pressure Asia’s largest economy, official figures showed Friday. Core prices rose for an 11th straight month, and at the same pace as in July, when inflation was the fastest since […]
Bush calls McCain, Obama, leaders to White House
WASHINGTON, September 25, 2008 (AFP) – US President George W. Bush will host White House rivals John McCain and Barack Obama, as well as top lawmakers, for economic crisis talks on Thursday, a spokesman said Wednesday. Bush, who telephoned Obama around 7:30 pm (1130 GMT), hopes “to work on driving toward a bipartisan and timely […]
Oil prices drop, despite tumbling US energy stockpiles
LONDON, September 24, 2008 (AFP) – Oil prices dipped on Wednesday, erasing earlier gains and continuing this week’s roller-coaster ride, as traders set aside news that US crude inventories plunged last week. New York’s main contract, light sweet crude for November delivery, fell 84 cents to 105.77 dollars per barrel. Brent North Sea crude for […]