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Business 30 Sep 2008 | 12:00 AM

US likely to pump more funds into rescue plan

SEVERAL prominent economists believe the amount budgeted - US$700bil - for the bailout of several large corporations, deemed too important for the US economy's survival, may be the first tranche only.

Business 02 Oct 2008 | 12:00 AM

US Senate approves US$700b rescue plan

After one spectacular failure, the US$700bil financial industry bailout found a second life on Wednesday, winning lopsided passage in the Senate and gaining ground in the House, where Republicans opposition softened.

Business 15 Oct 2008 | 12:00 AM

Direct US stake in banks has many precedents

WASHINGTON (AP) - For all the difficult free-market issues raised, the big U.S. intervention in banks has its precedents, from wholesale wartime takeovers of entire industries to the seizing of hundreds of failed savings and loans in the 1980s.

Business 20 Oct 2008 | 12:00 AM

BofA's Lewis hopeful on financial bailout plan

NEW YORK (AP) - Bank of America Corp. Chief Executive Kenneth Lewis says the $25 billion the government is injecting into his bank will be put to work making loans and will be paid back at the latest in five years.

Business 07 Jan 2009 | 12:00 AM

Low interest rate climate will be base for strong market recovery

LAST month, in an interview with i>Bloomberg News/i>, the journalist asked me for a phrase that I thought reflected the current mood. I mulled over the market chaos and changes that have taken place - events which would have been unthinkable just a few months earlier - and a song from alternative band REM popped into my head: i>It's the end of the world as we know it/i>, writes Raymond Tang.

Business 20 Jan 2009 | 12:00 AM

Tax policy and the social agenda

Tax breaks and incentives will continue to feature significantly in our budget strategies

Business 07 Feb 2009 | 12:00 AM

Only citizens can engineer a recovery

Stimulus packages in the next two years must be directed at the people to enable them to pay for housing mortgages or rentals, and also buy goods. Ultimately, if there is no consumption, there will be no economy

Business 04 Mar 2009 | 12:00 AM

China's leadership meets under economic storm

BEIJING (AP) - Risk-averse in the best of times, China's Communist Party leadership is expected to use its biggest meeting of the year for an even tighter show of political unity in the face of the global economic crisis and public calls for political change.

Business 10 Mar 2009 | 12:00 AM

Calls for tough decision on banks

The United States should let some big troubled banks fail rather than commit more federal funds to prop them up, two key congressional Republicans said on Sunday.

Business 23 May 2009 | 12:00 AM

Venezuela to pay $1 billion for Spanish bank unit

CARACAS, Venezuela (AP) - Venezuela agreed Friday to pay Spain's Banco Santander $1.05 billion to nationalize the bank's local unit, ending months of stalled talks and transforming President Hugo Chavez's government into the country's top financial player.