WASHINGTON — Federal Reserve Chairman Ben Bernanke told a panel investigating the financial crisis that regulators must be ready to shutter the largest institutions if they threaten to bring down the financial system.
ABU DHABI — Goldman Sachs has raised its ratings for Abu Dhabi Commercial Bank (ADCB), and Dubai Islamic Bank (DIB), saying the UAE banks are adequately capitalised to generate sufficient operating income to absorb elevated loan losses.
DUBAI — The UAE auto industry, which recorded an eight per cent growth in the first half, is expected to maintain a single digit growth by the end of 2010, an industry expert said.
LONDON — Upmarket British cafe and restaurant chain Carluccio’s agreed to a £90 million ($139 million) takeover by Dubai-based retail, hospitality and mall manager Landmark Group, sending its shares soaring on Thursday.
WASHINGTON - New claims for US unemployment benefits fell last week, but were still too high to signal a change in fortune for the troubled labor market.
BRUSSELS - Higher household spending and investment drove euro zone growth in the second quarter of 2010, while first quarter growth was also stronger than thought, but the expansion should slow in the second half of the year.
LONDON — European stock markets traded modestly lower Thursday after big gains the previous day, following a forecast-busting U.S. manufacturing survey and ahead of the monthly interest rate decision from the European Central Bank.
HONG KONG — Forecast-busting manufacturing data in the United States boosted Asian stocks Thursday, with the figures easing concerns over the state of the world’s biggest economy.
