(MENAFN - AFP) The IRS official who oversees non-profit applications refused to testify Wednesday at a congressional panel probing abuse at the US tax agency but defiantly insisted she had done nothing wrong.
Lois Lerner, director of exempt organizations, invoked her Fifth Amendment constitutional rights, citing accusations by lawmakers that earlier she had provided false ...
(MENAFN - AFP) The head of Germany's Bundesbank, Jens Weidmann, said France needs to make additional efforts to reduce its public deficit, in an interview published Wednesday.
France was originally supposed to bring its public deficit back to the EU's ceiling of 3.0 percent of gross domestic product, but has won a two-year extension from the European Commission.
(MENAFN - AFP) Bank of England governor Mervyn King called in May for more quantitative easing stimulus cash at his penultimate meeting, but was out-voted for the fourth month in a row, minutes showed on Wednesday.
The BoE's nine-member Monetary Policy Committee (MPC) voted 6-3 to maintain the stimulus amount at £375 billion ($566 billion, 437 billion euros), repeating ...
(MENAFN - AFP) French bank Societe Generale said Wednesday it had sacked the head of its Russian unit Rosbank, who was arrested last week in Moscow for accepting a $1.5-million bribe.
"The Board of Directors of Rosbank has initiated the process of dismissal of Vladimir Golubkov as CEO of Rosbank," said Societe Generale, which owns a controlling stake in the Russian bank.
(MENAFN - AFP) US Federal Reserve Chairman Ben Bernanke acknowledged the risks of the Fed's low interest-rate policy Wednesday but warned that tightening policy now could stall the US recovery.
Bernanke said in a statement to Congress that US economic growth continues at a moderate pace and, despite a slump in prices in the past two months that has sparked some fears of ...
(MENAFN - AFP) Swiss banks holding US citizens' funds that are not declared to American tax authorities are set to have to pay a massive fine, under a deal between Switzerland and Washington, a newspaper reported Wednesday.
The Swiss daily Neue Zuercher Zeitung, quoting sources familiar with the talks, said that the fine could reach 40 percent of the funds in question.
(MENAFN - AFP) Indian doctors said Wednesday they have successfully carried out a first round of reconstructive surgery on the skull of a baby suffering from a rare disorder that caused her head to nearly double in size.
The surgery on the skull of one-year-old Roona Begum was carried out on Tuesday near New Delhi by the same surgeons who last week drained fluid from the ...
(MENAFN - AFP) The International Monetary Fund on Wednesday urged Britain's government to adopt a "clear" plan to sell its stakes in state-rescued lenders Royal Bank of Scotland and Lloyds Banking Group, but warned it may first need to inject more capital.
"A clear strategy is needed for the two government-intervened banks, with a view to returning them to private ownership," ...
(MENAFN - AFP) The International Monetary Fund on Wednesday urged Britain's government to adopt a "clear" plan to sell its stakes in state-rescued lenders Royal Bank of Scotland and Lloyds Banking Group, but warned it may first need to inject more capital.
"A clear strategy is needed for the two government-intervened banks, with a view to returning them to private ownership," ...
(MENAFN - AFP) As debt-laden Dubai's economic recovery continues, with grandiose projects making a comeback, the emirate faces some near-term maturity of debt racked up during pre-crisis years but the prospects are not gloomy, analysts say.
Dubai is likely to manage the forthcoming obligations, part of total debt amounting to 100 percent of its gross domestic product, ...
AFP News
22 May 2013
