17 April 2009 05:30 [Source: ICIS news]
FSA under attack on regulation in boom
The City watchdog has been accused of “apathy and complacency” in its regulation of building societies during the boom, by one of its former supervisors.
Pension watchdog to give employers leeway on schemes
Employers with solid businesses will be allowed to renegotiate recovery plans in order to repair yawning deficits that have opened up in their pension schemes since the financial crisis began, the Pensions Regulator will announce on Friday.
Companies and markets
GM seeks provision for its suppliers
General Motors is prepared to argue that hundreds of its suppliers are 'critical vendors' who require timely payments if it seeks bankruptcy protection, setting the stage for what would be the most sweeping attempt ever to win special treatment for such contractors, people close to the matter say.
Overview: Investors struggle for direction on mixed data
Wall Street lifted for another late rally on Thursday, emulating gains in Europe as investors sifted through the latest batch of economic and corporate reports for signs of recovery.
Taliban exploit class rifts to gain ground in Pakistan
The Taliban have advanced deeper into Pakistan by engineering a class revolt that exploits profound fissures between a small group of wealthy landlords and their landless tenants, according to government officials and analysts here.
There's a silver lining in Costa Rica's gold coast
At the heart of the real estate wave in Guanacaste province in Costa Rica in 2006, some 20 residential projects had either broken ground, been announced or been approved.
Google's profit is up 8%, beating analysts’ estimates
Google's revenue was just short of analysts forecasts while cost-cutting measures helped push profit above expectations.
Deal brings TV shows and movies to YouTube
In another step to become a destination for mainstream TV programs and movies, YouTube said it had signed deals with Hollywood studios to showcase their content.
Kremlin ends Chechnya operations
The Kremlin on Thursday declared that the counterterrorist operation in Chechnya was over, effectively ending a security regime imposed in September 1999 when federal troops poured into the North Caucasus republic and squashed separatists.
State in unrivaled drive to clean up fishing
But fishing companies fear that the tightening of regulations, including a new "All Fish Ashore" law, will make them unprofitable.
Illegal development linked to Kremlin
Krasnodar regional authorities say in public documents that a Kremlin department is developing an illegal resort inside a protected nature reserve on the Black Sea.
Turkmen deal puts Putin on defence
Prime Minister Vladimir Putin struck a conciliatory note in a dispute with Turkmenistan on Thursday, telling Russian energy officials to reach out to Central Asian gas suppliers just as Turkmenistan signed a tentative gas deal with Germany's RWE.
Developers say discounts won't last
But analysts say there is no danger of prices rising any time soon, and a shortfall of new apartments will be met on the resale market.
Economic crisis defines German election
Germany's Social Democrats will launch their election campaign on Sunday. By steering to the left and attacking Angela Merkel, the party wants to score big with voters.
Germany prepares for homegrown terror trial
The members of the Sauerland cell who allegedly planned to bomb targets in Germany are about to go on trial.
Contributions in the form of computer hardware, cold cash and kind words are offered to a nongovernmental organisation that encourages and finances schooling for poor children after the charity group's leadership and bureaus are targeted in the latest round of Ergenekon detentions.
Mulling Nagorno-Karabakh knot
Ongoing talks between Turkey and Armenia to establish diplomatic ties and open the sealed border will unlikely produce an "immanent breakthrough," according to reports from the foreign minister's meetings in Yerevan yesterday.
Business and finance
Turkey’s economy may shrink 6%
The World Bank expects Turkey's economy to shrink between 2 and 6% in 2009 as the global crisis hammers the nation's industrial output and exports, the World Bank country director in Turkey said Wednesday.
Top businesswoman details measures against crisis
Commenting on the future for women in Turkey, Nilüfer Bulut, chairman of the Turkish Businesswomen’s Association, says businesswomen should be judged based on their ability and not on their sex.
Recession spells good business for online sales
Online retails sales appear unaffected by the economic crisis, as internet stores are recording a greater increase in turnover this year as compared to 2008.
UEFA delegation gives Poland thumbs up for EURO2012
Michel Platini is heading a nine person delegation of UEFA which arrived in Warsaw yesterday. A day earlier the delegation paid a progress evaluation visit to Kiev to examine preparations for the EURO2012 football championships.
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