entered a new phase of the crisis, the IMF warned the world's political, the Bank of England Bank of England and other central banks said they will begin into the financing difficulties of the banks to provide loans to Europe. This "liquidity operation," the last in 2008 and 2009, when the financial crisis is at its peak, when the banking industry unwilling to other loans from financial institutions threatened by the gold crisis. The euro zone debt crisis gave birth to a latest intervention from October continued into December, rescue operations, including debt countries Greece. British Chancellor of the Exchequer Osborne admitted, the United Kingdom from the global crisis "immune". Europe's debt crisis has led to financial market stability of the major countries of the European banking industry concerns, especially for France.
"Washington Post": Bona against the budget of the Special Committee to raise taxes
following the September 16 financial headlines of the world's major media.
USA Today: UBS employees violations resulting in $ 2 billion operating loss
"The Times of India" China's ICBC to open branches in India
senior officials
British Labour Party Hatton Lord of public expenditure costs will fall to the report, causing the British trade union opposition. The former cabinet members denounced the three trade union organizations in the United Kingdom, described in the relevant reports on the issue of pension reform misleading. British GMB, the Unison and Unite the three major union announced a strike vote on Wednesday on the pension issue and accused Hatton Lord commissioned by the coalition government issued research reports are misleading. Hutton in his report that public sector pension spending relative to GDP in the next 50 years will be reduced Hatton to advise the Government accordingly, "cap and sharing" measures on pension, the pension set a upper limit, the upper limit is reached, the union will accept to make concessions or accept the conditions of work longer hours. He believes that this limit from the current pension GDP accounted for 1.4% down to 1.4 per cent in 2059-60 would be appropriate.
China Industrial and Commercial Bank of China on the 15th in Mumbai was formally set up branches in mainland China the first bank operating in India, ICBC third branches of the following to open two branches in Islamabad and Karachi in Pakistan in South Asia. The bank plans to invest 100 million U.S. dollars to provide loans to Indian companies, covering Chinese companies to invest energy, telecommunications and infrastructure industries. ICBC's total market capitalization of $ 234 billion, nine times higher than the $ 25 billion in market value of the State Bank of India, the newly established branches in Mumbai central business district. Bombay Branch of the Industrial and Commercial Bank of China said in a statement, will promote cooperative relations in the enterprises of China and India, to support the local wires, transportation, energy and other construction industry, plans to expand the range of financial services to heavy machinery, automotive and other industrial fields.
U.S. House Speaker John Boehner on Thursday to reject any tax increase plan, but said the budget of the Special Committee are looking for long-term program of debt relief should start from the reduction of the expenditure of federal agencies and the public allowances to complete the save the expenditure of $ 1.5 trillion goals. A week ago, U.S. President Barack Obama proposed a $ 447 billion worth of tax reduction and new spending plans, intended to save the U.S. economy. Bona support the reform of the tax laws. Boehner's Thursday speech on the Washington Economic Club is the first time he firmly announced super committee of deficit reduction, not debt reduction to tax cuts as a compromise, but he did not mention if the super committee appropriate measures to reduce the federal budget and government debt , the U.S. economy can rebound.
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"Daily Telegraph": credit crisis reproduction of the central bank was forced to inject
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"New York Times: The five central banks jointly alleviate the debt of Europe concerns
"Financial Times": Cable concerning the implementation of the quantitative easing policy to put pressure on the Bank of England
the
British Business Secretary Cable on Friday to restart the printing press to put pressure on the Bank of England, he will be the current situation is called "essentially due to lack of demand caused by a serious threat to the economy of economic growth". In a booklet about the economy, Cable asked the Government to fine-tune the policy to promote economic growth, but economic stagnation of the first line of defense is monetary policy, including the use of innovative mechanisms to stimulate private credit. On the monetary policy committee decision-making, Cable calls for more quantitative easing policy, the more money into the economy through asset purchases, which is necessary in the context of the Government to continue to tighten policy. Quantitative easing to some extent, on private credit, generate support, the Bank of England should again be implemented.
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"Japan Times" Panasonic will parts purchasing department moved overseas
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UBS said on Thursday found that an employee unauthorized transactions resulting in a loss of $ 2,000,000,000, and the third quarter loss, but said customer funds have not been affected. With the latest incident again raises the debate of the financial circle, why risk control mechanism of the large international banks always failed. Securities lawyer, Andrew Stoll, Terman pointed out that UBS must answer many questions. In a notice distributed to staff on Thursday, UBS said that "efforts as soon as possible after ascertaining the facts the truth," Although this is frustrating, but does not change the company's fundamentals. Shengaisipi Figure investment banking analyst in London, Lim believes that the new rogue trader incident "obvious futility sentiment and confidence in UBS's risk management, especially in the line just from 2008-2009, the plight of out of
Panasonic executives said that this year, parts procurement department moved from Japan to overseas, help to reduce procurement costs by 500 billion yen. Panasonic vine Tian Zhengming, procurement and logistics department, said in Osaka, until March next year, fiscal 2011, Matsushita's overseas procurement of parts and components of the total procurement volume of 57% World pipe network reported that the world's steel pipe network to provide the world's steel pipe network editor , 43% higher than two years ago, the company is prepared to increase procurement in Asia and overseas procurement ratio of parts may continue to rise. Vine Tian ZhengmingWorld Steel Pipe , Panasonic is prepared in April next year, $ 57 billion worth of procurement department moved from Osaka, Japan, Singapore, to enhance the level of profits to offset the cost pressures, plans to reduce the procurement of 500 billion yen a year before the March 2013 costs.
"The Guardian": trade unions and Hatton debate on pension issues, Lord
due to concerns about the debt crisis in Europe a growing threat to the global economy, including the world's five major central banks, including the European Central Bank, the Federal Reserve, the Swiss National Bank, Bank of Japan and Bank of England on Thursday to propose measures to the investment to ensure that European banks will not like the 2008 financial crisis as a lack of dollars. According to the announcement released Thursday by the European Central Bank, the five central banks will work together to perform three times a dollar liquidity injection of operating for a period of approximately three months, the entire bidding activities will continue until the end of the year. The European Central Bank, said the new dollar liquidity tender is to supplement existing weekly U.S. dollar swap operations of the European Central Bank. The new mobile bidding eligible collateral to guarantee a fixed interest rate of repurchase agreements, and the full allocation of funds. By the news, the European bank stocks rose sharply, the euro rose on Thursday the European trading session close to about 1%.