Heads are rolling - and the City of London coined the name of this revolution: “the shareholder spring.” It is threatening CEOs of major European companies. After the much discussed resignation of Aviva's CEO, Andrew Moss, yesterday (8 May), it is interesting to look into the phenomenon.
Speaking during a visit today (7 May) to the Indian city of Kolkata, US Secretary of State, Hillary Clinton, placed pressure on New Delhi to reduce its trade with Iran, especially in the oil sector. She framed such a move as being in keeping with “India’s role in the international community”.
A British business delegation from the Department of Energy and Climate Change will visit the US from 6-10 May to strengthen the bilateral trade relationship and build the economic case for a move to a low-carbon economy.
An open letter sent yesterday (26 April) by European Union (EU) trade commissioner Karel De Gucht was an “unacceptable” reaction to the nationalization of Repsol’s subsidiary YPF by Argentina, said its Minister of Foreign affairs Hector Timerman. The tensions between Argentina and Spain, then relayed through the EU have not stopped since Argentina announced its takeover of the Spanish company.
In a speech at the University of Maryland yesterday (17 April), the Managing Director of the IMF, Christine Lagarde, suggested that the Eurozone must create a dedicated institution charged with recapitalizing banks, decrying a “vicious circle” of banks harming government finances, and vice versa.
In an address today (16 April) to the EU's “Sustainable Energy for All Summit” in Brussels, European Commission President, Jose Manuel Barroso, announced a new commitment to deliver sustainable energy to 500 million people by 2030. The EU initiative will form part of the framework of the UN’s own “Sustainable Energy for All” plan to address energy inequality in the developing world.
The Iranian government announced today (16 April) the initiation of a major new project to bring water from the Caspian Sea to the city of Semnan. The city, with a population of approximately 200,000 inhabitants, has faced increasing drought as a result of ongoing desertification.
Analysts expect that antitrust moves by the US Justice Department and EU competition agencies against Apple are likely to pave the way for similar action targeting Google. American authorities yesterday (11 April) sued the iPad inventor for allegedly acting to limit competition in the electronic book market on both sides of the Atlantic.
Discussions at the BRICS leaders summit in Delhi today (29 March) focused on the creation of a new “BRICS bank”. The proposed bank would offer an alternative to existing international institutions that provide financing for development projects, such as the World Bank or the Asian Development Bank.
State media reported today (29 March) that Chinese Vice Premier, Li Keqiang, stressed the responsibility of foreign firms to protect workers during his meeting in Beijing with Apple's new Chief Executive, Tim Cook. The statement came in the wake of revelations concerning inhumane factory conditions in facilities run by major Chinese Apple supplier Foxconn, as well as an ongoing dispute between the Taiwan-affiliate of Chinese computer firm Proview Technology and Apple over the ownership of the ‘iPad’ trademark.
BRICS (Brazil, Russia, India, China and South Africa) trade ministers met today (28 March) in New Delhi ahead of Thursday's BRICS leaders summit to discuss the advantages of reinforcing the bloc's internal trade as a means to balance the impacts of the European debt crisis.
IMF Managing Director, Christine Lagarde, today (20 March) expressed her relief at the improved health of the global financial system. Speaking during a trip to New Delhi, Lagarde confirmed “we are further away from the abyss than we were three months ago”. Asserting the recovery was due in large part to stabilization measures undertaken by the European Central Bank and certain Eurozone governments, she suggested the global financial crisis was a “huge catalyst” for political leaders to restore economic health by making unpopular decisions.
The US economy has created 227,000 jobs in February according to a report released today (9 March) by the Labour Department. Although the unemployment rate remains steady at 8.3 percent because more people entered the workforce, it represents a positive sign for the economy.
Outgoing World Bank President, Robert Zoellick, is visiting China from 26-28 February to launch the institution's latest report, 'China 2030: Building a Modern, Harmonious and Creative High Income Society'.
The global economic crisis has boosted workplace inequality in Europe. According to a new report published by the International Labour Office (ILO), the austerity measures and labour reforms introduced in many countries to address the impact of the crisis will exacerbate this negative trend.
US Secretary of State, Hillary Clinton, has called upon G-20 governments to ensure the transparency of state-backed companies, asserting that all countries will benefit from a rules-based system.
India's Commerce and Industry Minister, Anand Sharma, is leading a business delegation in a three-day visit to Pakistan to strengthen commercial relationships between the two South Asian neighbours.
Unlike the European and (grumbling) American airline companies, China refuses to pay charges imposed by the European Union on carbon emissions.
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