When US President Barack Obama nominated Jack Lew as the new Secretary of the US Treasury in January, the media had one overwhelming concern about the appointment: Lew’s illegible signature, which resembles the doodle of an absent-minded child, would now appear on every US banknote.
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Saturday 23 October 2010
A bold American plan to redress "global imbalances" in international trade and limit the surpluses that can be run by nations such as China was yesterday rejected out of hand.
Wednesday 20 October 2010
Mervyn King, the Governor of the Bank of England, last night issued a thinly veiled attack on the leading protagonists in the global battle over currency valuations, warning that the row could lead to "every country [suffering] ruinous consequences".
Friday 08 October 2010
Tuesday 21 September 2010
Much glee at the hotel group Jurys, which is enjoying playing host to the Liberal Democrats, including leader Nick Clegg and his deputy, Simon Hughes, at its Liverpool Jurys Inn – it reckons this is the first time a major political party has stayed at a three-star hotel for its annual conference. Mr Clegg, of course, did not have to endure such trying conditions for too long. He left the shindig early yesterday for a United Nations meeting in New York. One imagines he won't be staying in a Manhattan youth hostel.
Friday 17 September 2010
US Treasury Secretary Timothy Geithner yesterday promised to continue pressing China on foreign exchange as the increasingly fraught global row over the value of national currencies intensified.
Thursday 16 September 2010
US lawmakers tore into China for what they said was the country's manipulation of its currency, which they said has been kept artificially low against the dollar to boost its manufacturing sector at the expense of American jobs.
Saturday 24 July 2010
Europe's chancelleries are clearly hoping that the stress test will result in the same cathartic effect on markets as their US equivalents did in May last year. The turbulence that sparked European banking supervisors into action is worrying everyone.
Friday 16 July 2010
Not another Wall Street fat cat?
Friday 04 June 2010
British officials are downplaying the chances of major breakthroughs on banking reform at the G20 summit beginning today in the South Korean city of Busan, which will be Chancellor George Osborne's first major outing on the international stage.
Wednesday 26 May 2010
Chancellor George Osborne welcomed plans for a Europe-wide tax on banks today but insisted the proceeds should not be ring-fenced to deal with future failures.
Wednesday 21 April 2010
The former head of Lehman Brothers has hit out at the investigator who accused the bank of masking debts with an accounting trick, saying he had "distorted the facts" and Lehman's employees had been "unfairly vilified".
Wednesday 21 April 2010
Timothy Geithner was yesterday forced to defend the Federal Reserve, after congressmen turned fire on its failure to prevent the collapse of Lehman Brothers in 2008, and said the regulator's tools had been "insufficient". US Treasury Secretary Mr Geithner, who was the president of the Fed during the crisis told the House Committee on Financial Services: "With the limited powers that we had, we worked diligently to avoid an outcome that would destabilise the financial system and damage the broader economy." This followed an attack from Spencer Bachus, the ranking Republican member of the panel, who said the Federal Reserve had either been "incompetent or they concealed facts". He continued: "At best, regulators failed to catch the accounting manipulation that permitted Lehman to give a misleading picture of its financial health."
Friday 16 April 2010
Wednesday 14 April 2010
Wednesday 07 April 2010
Migrants in Kos: Photos show real tragedy after Brits abroad complain of 'awkward' holidays
Thousands of teenage girls enduring debilitating illnesses after routine school cancer vaccination
British tourists complain that impoverished boat migrants are making holidays 'awkward' in Kos
Michael Gove determined to scrap the Human Rights Act – even if Scotland retains it
Threat to scrap Human Rights Act could see UK follow Nazi example, warns UN official
Why this year's general election was the most unfair in Britain's history
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