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Monday 19th of April 2010

News Tag: President

April 14, 2010

China firm on keeping yuan stable

by Kay Murchie
’China
At the Nuclear Security Summit in Washington, Chinese President Hu Jintao told US President Barack Obama that China is committed to yuan reform but will not be pressurised into making changes to its currency peg. The Chinese President added that while Beijing is willing to make changes, it will do it on its own terms. Hu told Obama: "China will ...



January 14, 2010

Obama pledges to recoup losses for American taxpayers

by Kay Murchie
Obama pledges to recoup losses for American taxpayers
US President Barack Obama has pledged to repay taxpayers the losses they are owed from bailing out the banks as he criticised bankers for the "massive profits and obscene bonuses." The President said: "My commitment is to recover every single dime the American people are owed. "My determination to achieve this goal is only heightened when I see reports of ...



January 5, 2010

Iceland president vetoes repayment to UK

by Kay Murchie
”Iceland
Icelandic President, Olafur Ragnar Grimsson, has vetoed the repayment of a £2.3 billion loan to the UK Government. The debt relates to the collapse of Landsbanki which collapsed at the height of the banking crisis in autumn 2008 and 300,000 British savers saw their accounts frozen with the bank’s online Icesave brand. The Treasury stepped in with a 100% guarantee for individual savers ...



June 18, 2009

Obama outlines regulatory overhaul for US financial system

by Kay Murchie
Obama outlines regulatory overhaul for US financial system
US President Barack Obama is proposing a major reform of banking regulation in order to prevent future meltdowns of the US banking system. Mr Obama described the reforms as biggest overhaul of the system since the 1930s, which will see major banks put more money aside against future losses to prevent excessive risk taking. The objective is to tackle the ...