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  • It’s Bonus Time!

    Speaking about moves that defy “all logic, morality, and sensitivity,” it was a big day for bonus announcements in the financial sector. First up, everyone’s favorite insurance company that Washington forced them to own—American International Group (AIG). From the Associated Press this morning...
    Posted to Economics on 02-03-2010
    Filed under: Obama Administration, U.S. Government, Bailout, Financial Sector, banking industry, Financial Services, Investment Banks, Wall Street, Barack Obama, Bank of America, american international group, AIG, Wages, Goldman Sachs, retention bonuses, President Obama, banking sector, Wall Street bonuses, Insurance, insurance company, executive compensation, bankers, B of A, retention pay, Lloyd Blankfein, banker bonuses
  • European Commission confirms support for Greece

    The European Commission has met today to discuss Greece’s tough austerity measures which will see the weakest economy of the euro zone tackle its spiralling debt. The Commission confirmed it will support the country’s plans which include a public sector pay freeze and a hike in fuel taxes. However, the...
    Posted to Finance on 02-03-2010
    Filed under: Bailout, All Financial News, Economy News, Debt News, measures, European Commission, support, Greece, confirm, weak link
  • Greece unveils measures to cut soaring debt

    In an attempt to reduce its high levels of debt, Greek Prime Minister George Papandreou, has unveiled tough measures which include a public sector pay freeze and a hike in fuel taxes. Further measures to reduce debt levels include a 10% cut in social security spending, as well as a massive 90% tax on...
    Posted to Finance on 02-03-2010
    Filed under: Bailout, All Financial News, euro zone, Economy News, Debt News, downgrade, credit rating, measures, EU, support, reduce, Greece, George Papandreou, weakest
  • Euro zone unemployment rate reaches 10%

    Figures from Eurostat have today revealed that the number of people unemployed across the euro zone grew to 15.8 million in December. The latest figures mean that the unemployment rate across the 16 countries that use the euro is 10% - the highest rate since 1999. Analysts believe that the unemployment...
    Posted to Finance on 01-29-2010
    Filed under: Bailout, All Financial News, euro zone, Economy News, European Central Bank, interest rates, unemployment, Debt News, rise, Spain, EU, weakness, Greece, December, threaten, George Papandreou, Davos, Rainer Bruederle
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