AFP
13875 articles published since 08 Mar 2022
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Small US banks use enlarged deposit guarantee to compete with giants
In the wake of the latest US banking meltdown, small lenders might appear vulnerable to an exodus of depositors fleeing for larger banks. Federal data shows that some depositors at small banks did head for the exits, moving some $120 billion in a single week into larger banks sometimes viewed as too big to fail.
Bank takeover prevented Swiss economy collapse: minister
Swiss Finance Minister Karin Keller-Sutter said Switzerland's economy would probably have collapsed had Credit Suisse gone bankrupt, in an interview published Sunday. "Without determined intervention by the authorities, the alternative would have been a bankruptcy of Credit Suisse on Monday morning, accompanied by a probable collapse of the Swiss economy."
World Bank could lend $50bn more over decade with reform: Yellen
The World Bank's ongoing reform could result in a $50 billion lending boost over the next decade, US Treasury Secretary Janet Yellen told AFP ahead of stakeholders' meetings next week where key changes are expected to be announced.
Dockworker shortage shuts California ports
Two of the busiest ports in the United States were shuttered Friday because not enough dockworkers turned up for work, a shippers representative said. "The action by the Union has effectively shut down the Ports of Los Angeles and Long Beach -- the largest gateway for maritime trade in the United States."
Despite Lula's promises, deforestation still rampant in Brazil
Deforestation in Brazil's Amazon rainforest in the first quarter of 2023 was one of the worst on record, according to official figures released on Friday. In the first quarter of 2023, Amazon deforestation was the second highest on record for that period with 844 square kilometers destroyed.
US hiring eases in March as economy shows signs of cooling
US job gains eased in March for a second straight month, government data showed Friday, adding to signs that the economy is cooling as policymakers push on in their fight against inflation. - Strong labor market - "The data show that the labor market remains strong with the economy still creating jobs at a rapid pace.
Honduras shrimp industry worried by diplomatic break with Taiwan
On the Pacific coast of Honduras, thousands of people working in the shrimp farming industry are worried about their futures following the government's decision to break diplomatic ties with their largest export market: Taiwan. Shrimp is the fifth largest export for Honduras after coffee, bananas, sugar and palm oil.
Asian markets edge up in thin trade ahead of US jobs
Asian markets ticked higher in holiday-thinned trade Friday with all eyes on the release of US jobs data later in the day. After a positive lead from Wall Street in muted trade, Asia's few open markets advanced.
Venezuela arrests: an anti-corruption crusade or political purge?
Venezuela has launched an anti-corruption probe of state oil firm PDVSA and other related government bodies that has seen 51 people arrested, including top government officials. - The public prosecutor's office says 34 of the 51 people arrested are linked to the oil industry, the economic vehicle on which Venezuela is totally dependent.
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