New York Times: “Having tried without success to unlock frozen credit markets, the Treasury Department is considering taking ownership stakes in many United States banks to try to restore confidence in the financial system, according to government officials…The proposal resembles one announced on Wednesday in Britain. Under that plan, the British government would offer banks like the Royal Bank of Scotland, Barclays and HSBC Holdings up to $87 billion to shore up their capital in exchange for preference shares. It also would provide a guarantee of about $430 billion to help banks refinance debt.”
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Daily Archives: October 8, 2008
EIA: OPEC Revenues Factsheet, International Petroleum Monthly, Winter Fuels Outlook
OPEC Revenues Factsheet (10/08/2008): “Based on projections from the EIA October 2008 Short Term Energy Outlook (STEO), members of the Organization of the Petroleum Exporting Countries (OPEC) could earn $1,084 billion of net oil export revenues in 2008, and $1,084 billion in 2009. Through September, OPEC has earned an estimated $821 billion in net oil… Continue Reading
UK: Financial Support to the Banking Industry
Financial support to the banking industry: “After consultation with the Bank of England and the Financial Services Authority, the Government announces that it is bringing forward specific and comprehensive measures to ensure the stability of the financial system and to protect ordinary savers, depositors, businesses and borrowers. In summary the proposals announced today are intended… Continue Reading
IMF Warns About Failure to Act Decisively on Turmoil
News release: “With financial markets worldwide facing growing turmoil, internationally coherent and decisive policy measures are required to restore confidence in the global financial system, the International Monetary Fund (IMF) says in a new report. “Failure to do so could usher in a period in which the ongoing deleveraging process becomes increasingly disorderly and costly… Continue Reading
UN Report: The State of Food and Agriculture (SOFA) 2008
News release: “Biofuel policies and subsidies should be urgently reviewed in order to preserve the goal of world food security, protect poor farmers, promote broad-based rural development and ensure environmental sustainability, FAO said today in a new edition of its annual flagship publication The State of Food and Agriculture (SOFA) 2008, BIOFUELS: prospects, risks and… Continue Reading
