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Miesiąc: listopad 2010

EU unveils Irish bailout

EU unveils Irish bailout

Amid concerns about an escalating debt crisis, European finance officials on Sunday announced an 85 billion euro bailout of Ireland and its banks.

Bailout of Ireland near

Bailout of Ireland near

Amid concerns about an escalating debt crisis, European finance officials were meeting Sunday to work out details of a bailout for Ireland expected to be worth tens of billions of dollars.

The U.S. is not falling behind

The U.S. is not falling behind

Commentary on the state of the U.S. economy has once again turned — sadly — to America’s supposed failings relative to the rest of the world. In a much-cited follow-up to its 2005 report Rising Above the Gathering Storm, for example, an eminent committee of the National Academies reached the unanimous conclusion that when it comes to the principal ingredients of innovation and competitiveness, „our nation’s outlook has worsened.”

Ireland requests tens of billions in EU loans

Ireland requests tens of billions in EU loans

Ireland has formally requested substantial „financial assistance” from the European Union to buttress the government and bolster its struggling banking sector, Prime Minister Brian Cowen said Sunday night.

Ireland admits it needs bailout

Ireland admits it needs bailout

Irish Finance Minister Brian Lenihan will recommend that the country apply for international funding to stay afloat, he said Sunday, reversing days of Irish insistence that Dublin does not need help.

Narco-terror and U.S. business

Narco-terror and U.S. business

It was a shocking twist in Mexico’s four-year war among drug cartels. At around 1 a.m. on a Thursday in late October, gunmen sprayed bullets into three buses carrying temporary workers after their shift at U.S.-based Eagle Ottawa’s plant in Juárez. Four employees of the automotive-upholstery maker were killed and 17 injured, sending chills through the border town. Never before had employees of a U.S. factory been targeted in the drug-related violence that is sweeping the country.

A Chinese consumer economy? Don’t bet on it.

A Chinese consumer economy? Don’t bet on it.

„Made in China, for China” has been the rally cry of Chinese economic policymakers for more than five years running. It’s a popular refrain, both inside the country and out. While American and European policymakers harp on Beijing’s currency policy, they tacitly admit that ramping up domestic consumption is needed just as badly in order to speed the process of rebalancing the global economy.

Roche to cut 4,800 jobs

Roche to cut 4,800 jobs

Swiss health care company Roche said Wednesday it would cut 4,800 jobs over the next two years as part of its „Operation Excellence Program.”

Chanos vs. China

Chanos vs. China

The influential short-seller is betting that China’s economy is about to implode in a spectacular real estate bust. A lot of people hope he’s very wrong.