Largely shut out by traditional international lenders, Argentina still had a place to turn last year for the billions of dollars it needed to renovate its decrepit railway system – Beijing. The $10bn package agreed with the China Development Bank was another clear sign of China’s surging influence in Latin America, transforming the region’s economies…
Global companies from semiconductor makers to shipbuilders faced disruptions to operations after the earthquake and tsunami in Japan destroyed vital infrastructure and knocked out factories supplying everything from high-tech components to steel. Thousands of people have been killed and millions have been left without water, electricity, homes or heat after the 8.9 magnitude quake triggered…
Nationalised lender Irish Nationwide has had a near 100 percent take-up for its coercive buyback of £146.2m ($236m) of subordinated debt at an 80 percent discount. The lender, being wound down as part of an EU/IMF bailout, said investors holding £125.7m of bonds due 2016 and £20.5m of notes due 2018 had agreed to the…
Do what you like. Just count us out. That, in essence, is the message that Britain is sending its European partners as the 17 countries that share the euro move towards closer economic integration. In a departure from half a century of British diplomacy, PM Cameron has adopted a strategy of benign disengagement from the…
With a leading Republican candidate yet to emerge, the biggest risk to President Obama’s quest for a second term next year is a jobless rate that has hovered between 9 and 10 percent for months. March 4’s jobless report is expected to show nonfarm payrolls soared in February by 185,000 jobs, but the overall unemployment…
