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Sunday 04th of July 2010

News Tag: summit

June 28, 2010

China bows to G20 pressure and allows further yuan flexibility

by Kay Murchie
China bows to G20 pressure and allows further yuan flexibility
China faced renewed pressure at this weekend’s G20 summit Toronto, Canada, after a draft said: “Emerging surplus economies will undertake reforms tailored to country circumstances to… enhance rate flexibility.” Beijing has previously ruled out a one-off appreciation of its currency and has previously said keeping the yuan stable is “an important contribution” to global recovery. China has already faced ...



June 27, 2010

G20 summit sees protesters turn violent

by Kay Murchie
”G20
This weekend’s G20 summit, held in Toronto, Canada, saw more than 400 protesters arrested. Four police cars were set alight, while shop windows were broken with baseball bats and hammers, according to reports. Similar protests have occurred during the summit in past years and this year was no different as demonstrators came in their droves to protest against political issues. This weekend’s summit saw ...



June 25, 2010

BoE: UK banks still face risks

by Kay Murchie
’BoE:
The Bank of England's semi-annual Financial Stability Report, which has been published today, warned that UK banks are still at risk as a result of the euro zone debt crisis. While the report praised the €750 billion rescue package, agreed by the European Union and the International Monetary Fund (IMF), it said ongoing "market pressures" could affect Britain's financial system. The report ...



June 6, 2010

G20 nations address global economic issues

by Kay Murchie
’G20
G20 finance ministers and central bank governors from the world’s top 20 developed and emerging economies have met in South Korea this weekend and have said excessive budget deficits should be dealt with immediately. The agenda was believed to be discussing the need for common standards across financial markets, including a global bank tax - however there was no mention ...



June 4, 2010

G20 finance ministers to meet in South Korea this weekend

by Kay Murchie
’G20
Finance ministers and central bank governors from the world's top 20 developed and emerging economies are meeting this weekend in Busan, South Korea, with the euro zone debt crisis set to be high on the agenda. Markets have been in turmoil in recent months by worries over the debt crisis. The crisis led to the EU approving ...



April 25, 2010

G20 summit unveils optimism for global recovery

by Kay Murchie
’G20
The finance ministers of the G20 group of developed and emerging economies issued optimism about the global economic recovery, after it met on April 23 in Washington, D.C. An announcement after the meeting stated that the global economy is emerging faster than expected from its worst recession since World War II. According to the G20 ministers, the recovery was primarily due ...



March 22, 2010

Further fears for Greece following central bank report

by Kay Murchie
Further fears for Greece following central bank report
There were further fears for debt-stricken Greece today after the country’s central bank, the Bank of Greece (BoG), said economic growth will fall this year by 2%, worse than the Government's forecast of between 1.2% and 1.7%. According to the BoG: "The Greek economy has fallen into a vicious circle with only one way out: the drastic reduction of ...



February 11, 2010

EU agrees to work with Greece over debts

by Kay Murchie
EU agrees to work with Greece over debts
After the summit meeting in Brussels today, EU leaders have agreed to work with Greece to tackle its spiralling debts. Last week, the Greek Government announced tough austerity measures to tackle the country’s spiralling debt. The country’s runaway budget deficit is currently more than four times the EU limit of 3%. It currently has the highest debt of the 16-member ...



September 27, 2009

G20 nations agree to ‘tough new regulations’

by Kay Murchie
”G20
At last week’s G20 summit, the world's leading nations agreed to "tough new regulations". Following the summit, which took place in Pittsburgh on Thursday and Friday, US President Barack Obama announced that in order to prevent another financial crisis: "We have agreed tough new financial regulations to ensure that the reckless few can no longer be allowed to put the global ...



September 25, 2009

Dollar receives a boost after 1st day of G20 summit

by Kay Murchie
”Dollar
Sterling fell this morning to a near four-month low to $1.5917 against the US dollar before creeping back up to $1.5989. The level was the lowest seen since early June after G20 leaders said stimulus packages will remain until a recovery is sustainable. However, the pound is still currently higher than the low levels of below $1.50 seen ...



September 21, 2009

Banker bonuses an “ethical scandal” claims EU president

by David Masters
”Banker
Banker bonuses are an "ethical problem" on which Europe should place limits even if America does not, Jose-Manuel Barroso, president of the European Commission, claimed this week. "It would be interesting, important, useful to have if possible the same rules [across] the world [and] to have the Americans at our side," Barroso said in an interview on French television. "But in ...



April 2, 2009

G20 leaders agree tax haven blacklist

by Peter Charalambous
”G20
The G20 leaders have come to an agreement to toughen up regulations within the financial markets today and have agreed to blacklist tax havens. The Organisation for Economic Co-operation and Development (OECD) will be in charge of publishing this and within the documentation a scale of white, grey and black list havens. This will be in order to reference and differentiate those who ...



Global stock markets rise on G20 summit hopes

by Kay Murchie
”Global
Stockmarkets throughout the world have risen today as leaders of the world's largest economies gather in London for the G20 summit. London‘s FTSE 100 index broke through the 4000 mark gaining 135 points to 4090.65 points this morning. However, the gains could also be attributed to the announcement from the Nationwide today, which revealed a 0.9% rise in March house ...



November 16, 2008

G20 summit agree steps to boost global economy

by Kay Murchie
”G20
The leaders of the world’s 20 major economies have met to discuss the global financial crisis. The G20 summit, which took place in Washington, saw the biggest gathering of presidents and prime ministers in nearly 10 years and brings together representatives of around 85% of the world's economy. With the eurozone in recession, unemployment in the US at a 25-year ...