Greenspan Encounters Tough Time

Greenspan Encounters Tough Time

Former Fed Chief Alan Greenspan shielded his tenure Wednesday as head of the Federal Reserve, answering some of the cumbersome questions before a panel investigating the roots of the financial crisis.

Managed Float Policy for Yuan

Managed Float Policy for Yuan

An adviser to the People's Bank of China, Xia Bin, said that China should resume a managed float foreign exchange system soon, as the global financial crisis that required the move have since faded. The announcement came a few hours ahead of the meeting between U. S. Treasury Secretary Timothy either and Chinese vice Premier Wang Qishan in Beijing.

H&M Posts Strong Q1 Profits that Beats Forecast

Hennes-Mauritz

Swedish fashion chain Hennes & Mauritz swung to its first-quarter profit on Thursday outpacing expectations and offsetting economic weakness triggered by strong March sales that pointed towards a return to increased spending in the second quarter.

Interest Rates on Hold by Bank of England

Interest Rates on Hold by Bank of England

In the last monthly decision by the Bank of England's rate-setting Monetary Policy Committee, it has been decided not to make any changes in the interest rates, which has left its multibillion pound asset purchasing program on hold. Low interest rates have been maintained for more than a year now.

Retail Sales in 16 Countries Fall at the Fastest Pace

Retail Sales in 16 Countries Fall at the Fastest Pace

It was reported on Thursday by the European Union's statistics agency Eurostat that retail sales in 16 countries who use euro fell at the fastest rate in 13 months in February.

Most Big Airlines Across the World Looking at Merger Deals

Most Big Airlines Across the World Looking at Merger Deals

Over the last few years, due to rising costs and lesser air traffic, the airline industry has been hit hard. According to the International Air Transport Association's estimates, European airlines will lose $2.2 billion this year. This slowdown has forced most major Airline companies all over the world to enter into merger pacts, to be able to generate some profits.

Yuan to Grow Stronger in the Future

Yuan to Grow Stronger in the Future

In an interview today, Ronald Archly, Chairman of Hong Kong Exchanges & Clearing Ltd., said that the appreciation of China's currency will be a gradual process and not a bang, and that bourse is equipped to handle multi-currency settlement.

Greater Flexibility in Chinese Currency Should be Allowed

Asian Development Bank President Haruhiko Kuroda

It has been told by Asian Development Bank President Haruhiko Kuroda today that China should allow greater flexibility in its currency as the world was recovering from the financial crisis.

Since 2008, as a part of efforts to help the nation, China kept its currency at 6.8 to the dollar.

Getting Mothers Talking in India Decreased Infant Death Rate

Getting Mothers Talking in India Decreased Infant Death Rate

According to a new study conducted by researchers in Eastern India, getting mothers to discuss about pregnancy and maternal health decreased the threat of infants dying.

Government approximations have revealed that in India out of every 1,000 live births, 39 infants die in their first month and a third of them die on their first day.

Traveler’s Anger Grows with New Airline Fees

Traveler’s Anger Grows with New Airline Fees

It has been seen that with the increase in new airline fee, traveler's anger also increases.

On Tuesday, it was announced by discount carrier Spirit Airlines that there would be extra charges for the carry-on luggage stowed in over head bins. Whereas, Ryanair has mentioned in its flight magazine saying that there would be a toilet fee on flights for an hour or less.

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