Senior French politicians have been forced to defend the state of the country’s economy after Labor Minister Michel Sapin set off a storm of controversy by claiming France was “totally bankrupt”.
Sapin made the remarks in a radio interview on Jan. 27 after he was asked about Former Prime Minister Francois Fillon comment in September 2007 that France was a “bankrupt state.” Sapin responded, “But it’s a totally bankrupt state,” adding “that’s the reason we have to put deficit- reductions programs in place.”
China has spent 10 million yuan (1.5 million dollars) on computers for thousands of members of an advisory body attending the annual parliamentary session -- in an effort to reduce paper waste.The 2,000-plus delegates to the Chinese People's Political Consultative Conference -- from Mao Zedong's grandson to former Olympic champion hurdler Liu Xiang -- received a free Lenovo laptop worth 5,000 yuan (730 dollars).
BEIJING/SHANGHAI (Reuters) - Chinese companies are getting more creative in the business of money lending as they struggle to keep profits ticking over in a cooling economy, raising concerns they are adding to the mountain of debt risks building in the world's No.2 economy.
No surprise here: decelerating economic growth and bad debt are taking a toll on profitability at China’s largest banks leading them to slash payouts to shareholders. This comes at a time when rate cuts are increasingly likely to eat away at NIM, effectively squeezing banks from both sides. Here's a look at the dramatic upswing in NPLs over the last four years:
MELBOURNE — Canada’s Finance Minister Jim Flaherty has not yet decided whether to run for office again in the 2015 general election, he told Reuters on Tuesday, amid speculation he may step down before then to attend to health issues.
“We’ll see. I haven’t decided,” Flaherty said in an interview when asked to confirm his intentions.
He answered “yes” at a Nov. 13 news conference when asked whether he would run for re-election in October 2015 in the southern Ontario district he represents.
As withering criticism of the oil sands continues unabated, the industry is fighting back, armed with its own set of facts and highlighting the strides made in tackling the environmental issues that have sullied its reputation.
By David Fry (ETF Digest): Greece is at a political impasse (as if you care now). Spain saw most bank stocks getting trashed (Santander down 6%) while sovereign debt exceeded 6% for the first time since November 2011-and that wasn't a great period.