NEW YORK/LONDON (Reuters) - President-elect Barack Obama said on Saturday he was crafting a two-year plan to fight an economic crisis of "historic proportions" and Chinese leader Hu Jintao said his country was ready to play a big role in the global effort.
LONDON (Reuters) - President-elect Barack Obama said on Saturday he was crafting a two-year plan to fight an economic crisis of "historic proportions" and Chinese leader Hu Jintao said his country was ready to play a big role in the global effort.
U.S. President-elect Barack Obama said Saturday that he was crafting an aggressive two-year stimulus plan to revive the troubled economy, warning that swift action was needed to prevent a deep slump and a spiral of falling prices.
APOfficials in the Obama administration threw cold water on the effort to recount votes in Wisconsin, Michigan, and Pennsylvania on Friday.
The effort was spearheaded by Green Party candidate Jill Stein, who echoed arguments that Russia may have hacked US voting machines to interfere with the outcome of the November 8 election.
Last week, we were dismayed - although not entirely surprised - to learn that Germany’s Social Democrats have proposed a €5,000 limit on cash transactions and the elimination of the €500 note. The rationale: if you’re paying in cash for something that costs more than €5,000, you’re probably a terrorist or a “foreign criminal.” Of course that’s nonsense but it’s a reflection of a changing world.
LONDON: Central banks seeking to quell misconduct in the $5 trillion a day currency market are hopeful that for the first time they can unify the industry's disparate codes of conduct into one central document within the next two to four years. An annual meeting in Tokyo last month of the central bank-led committees who oversee the largely unregulated market was viewed as a step forward in efforts to create a new framework for monitoring trader behaviour.