Monday, February 28, 2011
Brazil's Petrobras posts highest profit in its history
Brazil's state-run smear with oil company Petrobras says it had confirmation lattice profits in 2010, mostly on the back of distinguished smear with oil prices and increased production.
Net return secure 35.2 billion reals ($21.2 billion) continue time. That's a 17-percent bound ended lattice profits in 2009.
Petroleo Brasileiro SA reports Friday with the intention of pro the fourth-quarter, its lattice profits secure 10.6 billion reals ($6.4 billion). That map is up 24 percent ended the same cycle a time earlier.
Authorities struggle with how to reduce dependence on ratings
MIGHT ratings be the worst form of credit assessment apart from all the others? Dubious appraisals by the big agencies—Moody’s, Standard & Poor’s (S&P) and Fitch—contributed to the crash. Their ratings of corporate debt may have held up well, but they were way off in structured securities, not a lot better in sovereign debt, and now their municipal-bond ratings, too, are under fire. Downgrades also amplify procyclicality. Cutting AIG’s debt rating in 2008, for instance, sent investors rushing for the exit.
Ending this dependence is a priority for the Financial Stability Board, which co-ordinates the G20’s financial policies. It has asked standard-setters and regulators to find ways to pull ratings from bank-capital requirements, rules on investment-fund holdings, margin agreements and so on.
China's Wen vows to fight inflation and corruption
Chinese Premier Wen Jiabao pledged to curtail inflation and punish abuse of power in an online forum as Chinese watch blanketed Beijing and Shanghai to head inedible deliberate protests inspired by revolts in the Middle East.
The leadership is “determined” to punish corruption, which is too concentrated in government and solution officials, Wen thought in an online interview with Chinese citizens on the locate of the officer Xinhua News Agency. Wen promised to boost food equipment to hem in down overheads, and to tackle rolling property prices with the intention of boast leave homespun ownership ahead of the achieve of many.
U.S. leaders reportedly near deal to avoid a government shutdown
It looks like the supporting parties may possibly get out of a government shutdown this Friday -- next to slightest pro a pair weeks.
With the continuing resolve with the purpose of funds the government due to expire Friday, Republicans and Democrats are negotiating an extended arrange, though it is solitary with the purpose of would no more than keep the government undo to evolution 18.
One article pro solid, House Speaker John Boehner, R-Ohio, devices to argue alongside a government shutdown in a speech tonight to the National Religious Broadcasters convention.
"This is very minimal," Boehner devices to say, according to excerpts released by his workforce. "Americans need the government to stay undo, and they need it to waste not as much of money."
70,000 protest Wisconsin's move to restrict rights of unions
Featuring in single of the biggest rallies by the side of the state Capitol since the Vietnam War, union members and their supporters braved frigid temperatures and a light flurry to illustrate their displeasure.
The mood was upbeat despite the hold up their cause suffered earlier this week as soon as the state Assembly agreed the Republican-backed restrictions on union collective bargaining constitutional rights completed fierce Democratic objections.
"I'm truly privileged to be at this point with you," assumed Peter Yarrow, a veteran of many social protests through his 50-year folk tune career and a founding affiliate of the set Peter, Paul and Mary. "If you persist, you will prevail."
Voters overwhelmingly bring in Ireland's opposition party
Fine Gael is poised to head the then government and secure its greatest choice answer considering the union parties in the outgoing government suffered an electoral meltdown.
Fine Gael has open 70 seats of the 153 seats overflowing so far. Labour is on 35 Fianna Fáil 18, Sinn Féin 13, ULA four and Independents 13. There are in the past few minutes 13 seats missing to be overflowing in four constituencies.
Fine Gael is likely to fall brief of an overall majority in the 166-seat Dáil.
For Fianna Fáil, the answer is its most terrible since the foundation of the individual, while the Labour Party has enjoyed its greatest answer in a all-purpose choice to year. Sein Féin looks adjust to triple its quantity of TDs, while the Green Party has lost all six of its seats.
Saturday, February 26, 2011
Turmoil in Libya sends Wall Street into sharp decline
Investors fearful of prolonged conflict in Libya dumped stocks, carriage hedge Street's three major indexes to their biggest decline since eminent. The sell-off gave the New York Stock Exchange, Nasdaq and the American Stock Exchange their second-highest trading volume of the time. The CBOE Volatility Index proverb its biggest boost since May 20. Time magazine reported with the intention of Libyan dictator Moammar Gadhafi prearranged his security forces to blow up pipelines transportation smear with oil to the Mediterranean
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