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OECD: Greece Must Stop Spending

“A credible commitment to reducing fiscal imbalances on a sustainable basis is essential for restoring market confidence, creating room for future budgetary manoeuvre and meeting the rising costs of an ageing population,” mentioned by OECD for Greece on Thursday. “To achieve this, strict control o…

Published at 20 November 2009

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Gold surges to an all-time high

Gold prices surged to a record high Tuesday after the International Monetary Fund said it had sold 200 metric tons of the precious metal to India's central bank.

November gold was up $24.40 to $1,077.80 an ounce, after climbing to a high of $1,079.70. The previous intraday record was set Oct. 13…

Published at 22 October 2009

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HSBC says to cut 1,700 UK jobs

Europe's biggest bank HSBC Holdings (LSE: HSBA.L) is cutting over 1,700 jobs in Britain, adding to thousands of cuts across the industry in the last year as pressure builds to reduce costs.

HSBC said 1,726 jobs are being cut, mostly due to a restructuring of branch network management and a consol…

Published at 22 October 2009

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