Bank of England official: Occupy Movement right about global recession. The Occupy Movement has found an unlikely ally in a senior Bank of England official, Andrew Haldane, who has praised protesters for their role in triggering an overhaul of the financial services sector.
Haldane, who oversees the City for the central bank, said Occupy acted as a lever on policymakers despite criticism that its aims were too vague. He said the protest movement was right to focus on inequality as the chief reason for the 2008 crash, following studies that showed the accumulation of huge wealth funded by debt was directly responsible for the domino-like collapse of the banking sector in 2008.
Speaking at a debate held by the Occupy Movement in central London, Haldane said regulations limiting credit use would undermine attempts by individuals to accumulate huge property and financial wealth at the expense of other members of society. "The asset-rich, in particular the owner-occupying rich, became a lot richer. Meanwhile, the asset-less and indebted fell further behind. A Point of View: The revolution of capitalism. 4 September 2011Last updated at 00:27 Karl Marx may have been wrong about communism but he was right about much of capitalism, John Gray writes.
As a side-effect of the financial crisis, more and more people are starting to think Karl Marx was right. The great 19th Century German philosopher, economist and revolutionary believed that capitalism was radically unstable. It had a built-in tendency to produce ever larger booms and busts, and over the longer term it was bound to destroy itself. Bank of America reports $1.2bn loss. 21 January 2011Last updated at 13:30 Writedowns also affected the bank's full-year results Bank of America has reported a second straight quarterly loss, driven by a $2bn (£1.25bn) writedown of its mortgage business.
The bank announced a net loss of $1.2bn in the last three months of 2010, compared with a $5.2bn loss a year ago. G20 reaches deal on imbalance indicators. 20 February 2011Last updated at 09:58 Ms Lagarde said the deal represented a "spirit of compromise" The G20 have reached a deal on indicators to detect economic imbalances, the French presidency said, after the meeting ended in Paris.
The world's leading economies agreed on a compromise after "frank, sometimes tense" negotiations, French Finance Minister Christine Lagarde said. The deal was agreed after softening criteria on current account surpluses to get China on board, reports suggest. The aim is to co-ordinate policies more to avoid another economic crisis. Ms Lagarde said there had been lengthy discussion on the indicators to be used, after reports that China, sensitive over its currency policy, had resisted the inclusion of some economic indicators.
Goldman Sachs chief Lloyd Blankfein gets $15m pay award. 29 January 2011Last updated at 16:43 Goldman Sachs chief executive Lloyd Blankfein has seen his paypacket get thicker Wall Street firm Goldman Sachs Group has tripled the base salary of chief executive Lloyd Blankfein to $2m (£1.3m), up from $600,000 in 2010.
And company filings show he was also awarded shares worth $12.6m last year, a 42% hike from the the stock bonus he received for 2009. It comes even after the bank's profit fell 38% in 2010 to $8.35bn. Banks were pressed to reduce bonuses in 2009 after the 2008 global economic collapse, largely blamed on bankers. The financial system had been rescued by more than a trillion dollars of support from the US government, and there was public outrage from Main Street at the sums of money Wall Street bankers were being paid in salaries and bonuses. Morgan Stanley sees profits jump. Osborne predicts 'turmoil' if cuts and tax rises halted. 30 January 2011Last updated at 12:41 Speaking on The Politics Show, the chancellor says he has had to make "tough, difficult decisions" Chancellor George Osborne has warned there would be "financial turmoil" if he abandoned cuts and tax rises.
Mr Osborne told the BBC no politician liked cutting spending and increasing taxes, but he was trying to clear up the "mess" Labour had left. He hinted union laws could be changed if there were a wave of strikes. Writing in the Independent on Sunday, shadow chancellor Ed Balls accused Mr Osborne of being in denial about the risks to jobs and growth posed by cuts. BP, after delays, eyes start of Libyan drilling. BP, after delays, eyes start of Libyan drilling. Crise financière : les Etats-Unis désignent les responsables.
Inflation alimentaire : Les aliments plus chers que jamais. Oups!
Une erreur est survenue nous empêchant d`afficher le contenu demandé. Cliquez ici pour obtenir la dernière version plugiciel Flash. Les explications de Charles Tanguay de l'Union des Consommateurs Les prix des aliments ont atteint un nouveau sommet en 21 ans en janvier, selon l'Organisation des Nations unies pour l'alimentation et l'agriculture (FAO). Les prix des aliments ont progressé de 3,4 % dans le monde entre décembre et janvier. Les troubles en Egypte minent les Bourses. Le Monde.fr avec AFP et Reuters | • Mis à jour le Avant la suspension des transactions en fin de matinée, jeudi 27 janvier, la Bourse du Caire a cédé plus de 10 %, enregistrant la deuxième baisse la plus forte de son histoire.
Marchés boursiers : La Bourse de Londres s'offre celle de Toronto. Les PDG du LSEG, Xavier Rolet (à gauche), et du Groupe TMX, Thomas Kloet, à Toronto.
Photo : PC/Chris Young Le London Stock Exchange Group (LSEG), propriétaire de la Bourse de Londres, achète le Groupe TMX, qui exploite les Bourses de Montréal et de Toronto. Les gouvernements se pencheront sur cette transaction, qui s'inscrit dans une tendance mondiale de consolidation des places boursières. Thomas Kloet et Xavier Rolet, respectivement chefs de la direction du Groupe TMX et du LSEG, ont tenu un point de presse conjoint mercredi matin, à Toronto. The Egyptian Tinderbox: How Banks and Investors Are Starving the Third World. Épisode 4 : Des lendemains amers - Saison 2011 - Krach - Les dessous de la crise économique mondiale.