Financial Crisis

  • Delhi: Son dead, wife, daughter in ICU as man tries to kill them, self 21-01-2014 09:10 PM

    New Delhi: An eight-year-old boy died while his sister and mother were battling for their lives after their father allegedly tried to poison his entire family over financial worries, police said. The 35-year-old man, too, has been hospitalised as he slit his throat and wrist. The case was reported in...
  • RBI Governor Raghuram Rajan may raise policy rates yet again 23-09-2013 10:00 AM

    Reserve Bank of India Governor Raghuram Rajan may raise policy rates again after shocking markets by increasing them in only his first meeting, signalling he is willing to risk prolonging what is already the lowest economic growth in years in order to quash persistent inflation. Raising the repo rate by...
  • In sign of downturn, Indian retail landlords finally capitulate on price 19-09-2013 11:26 AM

    In a capitulation that speaks to the depth of the slump in India's economy, usually tight-fisted retail landlords have become uncharacteristically flexible on rents, as Lacoste India CEO Rajesh Jain knows well. The French brand name has been offered space at a mall in Jalandhar in Punjab. But rather than...
  • Financial challenges hit Formula One 08-08-2013 08:56 PM

    Dubai: With the European economic crisis still rattling Formula One, it was not surprising that the cash-strapped smaller teams were in trouble at the start of the season. But when Swiss-based Sauber appeared on the brink of bankruptcy, the sport took notice. The team was eventually bailed out by investors...
  • Germany approves bank reform to protect taxpayers 19-05-2013 07:40 AM

    Berlin: Germany has approved new measures to rein in high-risk financial business of banks and to decouple them from retail banking as part of a comprehensive reform to prevent a repeat of the financial crisis five years ago and to minimise the costs for taxpayers if banks were to be...
  • Stimulus packages lead to fiscal deficit and inflation: FM 20-04-2013 03:10 AM

    Washington: Finance Minister P Chidambaram on Friday said the three stimulus packages India had provided to the economy in the wake of the global financial crisis post 2008-09 lead to a higher fiscal deficit, inflation and slowdown in growth. He said the government is going to take more steps on...
  • Satyajit links finance with popular culture 09-12-2011 11:02 AM

    This is more like a book of history and quotations. How much of it is first hand reporting? Satyajit Das: I started this book in 2005. During the past six years, the entire financial crisis played out. A chunk of the book is first hand reporting. I did not want...
  • Greek rivals try to hammer out power deal 08-11-2011 05:21 AM

    Athens: Rival Greek political parties tried on Monday to hammer out a historic power-sharing deal to secure a euro130 billion ($179 billion) rescue package, but markets remained wary and European leaders kept up pressure by holding back a vital bailout loan. Socialist Prime Minister George Papandreou and conservative leader Antonis...
  • Pressure mounts on Italy's Berlusconi to quit 08-11-2011 01:37 AM

    Rome: Italy became the latest target in Europe's financial crisis on Monday, as soaring borrowing rates intensified pressure on Premier Silvio Berlusconi to resign and let a new government reform the country's spendthrift ways. Berlusconi batted away reports that he was considering stepping down in favor of early elections, saying...
  • Greek president to host talks with PM, Oppn 06-11-2011 11:34 PM

    Athens: Greece's president is to convene a meeting between the country's embattled prime minister and the head of the main opposition party in an attempt to broker power-sharing talks and find a way out of a severe political crisis, as pressure mounts to ensure the country avoids bankruptcy. The president's...
  • Greece talks under way in bid to avoid bankruptcy 06-11-2011 10:31 PM

    Athens: Greek leaders struggled for a second day on Sunday to end an ongoing political crisis, under intense pressure to ensure the country doesn't go bankrupt in the next few weeks and that it remains in the eurozone. Embattled Prime Minister George Papandreou, who narrowly survived a parliamentary confidence vote...
  • Greek PM Papandreou wins confidence vote 05-11-2011 05:35 AM

    Athens: Greek Prime Minister George Papandreou won a parliamentary confidence vote on Saturday, avoiding snap elections which would have torpedoed Greece's bailout deal and inflamed the euro zone's economic crisis. Papandreou's socialist government won with all his party lawmakers in the 300 member parliament supporting the government, but his term...
  • Greek PM calls for coalition, signals may quit 05-11-2011 05:09 AM

    Athens: Greek Prime Minister George Papandreou called on Friday for a new coalition government to approve a bailout deal vital for saving the country from bankruptcy and tackling the euro zone's economic crisis, and signalled he was ready to stand down. Papandreou told parliament that he would go to the...
  • G-20 rejects extra help for debt-strappd Europe 05-11-2011 01:09 AM

    Cannes: Europe failed to get the leaders of the world's wealthiest economies to help out with its debt troubles, but everyone left a G-20 summit on Friday relieved that at least they forced the Greek prime minister not to hold the world hostage with a bailout vote. It took a...
  • Progress made on global economic recovery: Obama 05-11-2011 12:10 AM

    Cannes: US President Barack Obama said on Friday the US economy is growing "way too slow" but that leaders at a world summit have made progress at getting their countries on a firmer footing. "Put simply, the world faces challenges that put our economic recovery at risk," Obama said in...
  • In or out: Europe heaps pressure on Greece 03-11-2011 05:29 AM

    France: European leaders heaped pressure on Greece over its decision to hold a referendum on its latest bailout deal, calling it a vote on whether it wants to stay in the eurozone and vowing Athens would not get new rescue loans until the result was in. The acknowledgment that the...