World outrage at Syria "massacre", but no action
AMMAN/BEIRUT - The United States has branded Syria's leaders murderers after an attack on a village by President Bashar al-Assad's troops left dozens dead, but there was no break in the deadlock among world powers over how to bring about an end to the bloodshed. | Video
Barclays flagged Libor problems to Fed in 2007
LONDON/NEW YORK - Barclays alerted U.S. regulators as far back as 2007 to concerns that banks were rigging benchmark interest rates, according to documents released on Friday, but policymakers on both sides of the Atlantic did not appear to take decisive action, underscoring the chaos of the financial crisis.
Battle for Cove Energy heads for showdown
LONDON - Oil giant Shell and Thai rival PTT could be heading into the first formal takeover auction for a listed British company since 2008 as they battle for Cove Energy and its stakes in huge new east African gas finds.
Spain sets out spending cuts to chorus of protest
MADRID - Spain created an emergency fund to protect regional governments from defaulting and warned that pensions will be overhauled as protesters rallied on Friday against deep spending cuts needed to dodge an international bailout.
Parties agree on parliamentary investigators into banks
LONDON - The government and main opposition have agreed on who will participate in a parliamentary inquiry into the professional and ethical standards of bankers, documents from parliament showed on Friday, although one lawmaker described the process as a "whitewash".
Terry cleared of racial abuse of QPR's Ferdinand
LONDON - Former England captain John Terry was cleared on Friday of racially abusing opposing player Anton Ferdinand during a football match, in a case which could have wrecked his glittering career. | Video
Syrians mourn family members killed in Tremseh
July 13 - Locals mourned those killed in what has been described as a massacre in the Syrian village of Tremseh and there were reports of shootings in the capital. Rough Cut (no reporter narration)
Latest Headlines
Why is the response to economic crisis not more serious?
Nearly four years after the collapse of Lehman Brothers, unemployment throughout Europe and the U.S. remains stubbornly high. Yet the response from policymakers hardly seems equal to the level of urgency. Commentary
The touchstones of Yap
The Pacific island of Yap used two-tonne stones as currency. The odd system worked because people believed in it. The modern monetary system is also faith-based, and that faith has been shaken by the financial crisis. Purification is needed to strengthen the value of money. Commentary
Europe’s bank recap strategy has reached its limit
Europe's lenders have bolstered capital buffers by 94 billion euros since September, ahead of regulatory targets. Yet funding markets remain closed and confidence is scarce. Rebuilding trust now depends on cleaning up loan books and solving the euro zone’s sovereign woes. Commentary
BoE governor’s arm-twisting raises tricky issues
Barclays’ chairman says Mervyn King made it plain to him that Bob Diamond no longer enjoyed the support of regulators. While the bank should have got rid of its CEO, King had no official authority to tell it to do so. So what exactly happened? Commentary
Regulators have to tackle flawed benchmarks
Britain and the EU are considering official control of Libor and other rates. Criminal sanctions would help to deter future misbehaviour, though intervention could have unintended consequences. There’s no point pretending market barometers are a purely private matter. Commentary
Central bank stimulus won’t solve the crisis
Fear abounds. The global economy may be teetering. What should central banks do? In the developed world, they should recognise that monetary policy has gone as far as it can without becoming more harmful than helpful. They cannot speed up the slow recovery. Commentary
Despite tough sanctions, Apple gear booms in Iran
DUBAI - Iran is home to a booming Apple business, underscoring a weakness in Western sanctions. These have focused on banks and the oil industry, leaving room for enterprising merchants to source banned consumer goods and computer products through underground trade routes. Full Article
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