The Royal Bank of Scotland has become the leading symbol of the U.K.'s banking crisis. RBS announced more big losses this week yet still found room to award its employees almost $2.5 billion in bonuses. That has sparked a good deal of outrage. The bank's rationale for the bonuses is similar to what many U.S. banks have said to justify big payouts.
All Posts Tagged With: "financial crisis"
Lawmakers in Portugal today defeated a plan to cut government spending, adding to fears that financial crisis will spread across the region. Daljit Dhaliwal spoke with Marcus Mabry, international business editor of The New York Times, about a potential European financial meltdown.
Germany's vote on Sunday for members of the lower house of parliament gave Chancellor Angela Merkel a comfortable center-right majority. Nikolaus Piper of Suddeutsche Zeitung discusses the major issues and implications of the German election.
The U.S. budget deficit is increasing, and could reach $9 trillion over the next 10 years. C. Fred Bergsten of the Peterson Institute for International Economics discusses the possibility of a fall in the value of the dollar.
Two of Europe's biggest economies -- Germany and France -- reported signs of a recovery. Each saw growth of 0.3 percent in this year's second quarter. Roben Farzad of BusinessWeek discusses how fast the world economy is rebounding and analyzes what it will mean for the United States.
After two days of high-level U.S.-China talks, the Obama administration agreed to reduce the U.S. deficit once the financial crisis has abated. Nicholas Lardy of the Peterson Institute discusses the evolving economic relationship between the two countries.
PBS Wide Angle's film "The Market Maker" features the story of one woman's efforts to combat a seemingly never-ending cycle of famine in Ethiopia by creating that country's very first commodities exchange.
In 1998, just six Chinese companies were on the Fortune 500 global list of the world's largest companies, while 185 American companies were included. Ten years later, 37 Chinese companies made the list, while U.S. companies had decreased to 140. Brian Dumaine of Fortune magazine discusses this rise and China's role in recovery from the global recession.
At the annual G-8 summit, the gathering of leaders from the world's largest economies, the global recession remains a big concern. John Authers of The Financial Times discusses what new regulations may be proposed at the summit and where the markets could be headed.
There are a lot of problems surrounding the current G-8 summit in Italy, writes Worldfocus blogger Nina Hachigian, but the underlying trouble is the G-8 itself. The world simply needs a different set of countries at the high table of global governance to tackle today's challenges.