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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 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 19 Aug 2008 | 12:00 AM

No deal between Venezuela, Cemex on takeover

CARACAS, Venezuela (AP) - Venezuela's government said it was poised to seize a cement company owned by Mexico's Cemex SAB at midnight Monday after failing to reach a deal on terms for its nationalization.

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 05 Feb 2006 | 12:00 AM

New president of Bolivia's state energy company envisions continental partnership

The new president of Bolivia's state energy company said Saturday he wants to help create a continentwide energy alliance that would compete with powerful multinationals and eventually control the price and production of oil and gas in Latin America.

World 09 Mar 2013 | 12:00 AM

Factbox - Venezuela's likely election candidates after Chavez's death

CARACAS (Reuters) - Venezuela has called a presidential election for April 14 that will likely pit Hugo Chavez's protأ©gأ©, acting President Nicolas Maduro, against centrist opposition leader Henrique Capriles.

Business 22 Apr 2013 | 12:00 AM

Central bank's Merentes named new Venezuela finance minister

CARACAS: President Nicolas Maduro replaced Venezuelan Finance Minister Jorge Giordani on Sunday, appointing central bank chief Nelson Merentes in his place two days after being sworn in as the late Hugo Chavez's successor.

Business 07 Apr 2012 | 12:00 AM

Myanmar: Not the Burma I used to know

But the opportunity to right the wrong is here and the reformation needs to be irreversible

Business 25 May 2013 | 12:00 AM

Kyat slumps as imports flood into Myanmar

YANGON: Myanmar’s currency has plunged more than 7% over the past month to the lowest since it was floated last year, raising concern about economic stability in Asia’s newest democracy.