Credit crisis could cost nearly $1 trillion, IMF predicts

Total losses from market meltdown, including the securities tied to commercial real estate and loans to consumers and companies, may reach $945 billion, the International Monetary Fund said Tuesday.

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1. Dollar falls below 7 yuan data: 10.04.08
The milestone underlined China's growing economic strength and its increasing use of the currency as a policy tool.

2. Credit crisis could cost nearly $1 trillion, IMF predicts data: 10.04.08
Total losses from market meltdown, including the securities tied to commercial real estate and loans to consumers and companies, may reach $945 billion, the International Monetary Fund said Tuesday.

3. 'Green collars' becoming a force in U.S. economy data: 27.03.08
The United States may have 8.5 million jobs in renewable-energy or energy-efficient industries now, with up to 5 million to be added over the next 10 years.

4. Rising yuan threatens small exporters in China data: 10.04.08
One report estimated that up to 20 percent of low-end exporters could go belly-up this year as the harsher operating environment dissolves profits and demand slows in major markets like the United States.

5. Thain says Merrill Lynch exploring brokerage business in China data: 10.04.08
Merrill's chief executive also said during a visit to Beijing that his bank also had to expand its wealth management and investment banking business in the country.

6. Major banks promise new guidelines to try to head off further regulation data: 10.04.08
The Institute for International Finance, a banking group, said new strictures are priorities for industry action, not government fiat.

7. High rice prices no windfall for many Asian farmers data: 07.04.08
For many rice farmers in Asia, the commodity they produce ends up as food in their stomachs, not cash in their bank accounts.

8. Accounting firm under fire in collapse of subprime lender data: 27.03.08
A sweeping investigation found that KPMG enabled New Century Financial's "improper and imprudent practices."

9. Rich nations seek action on rising food prices data: 07.04.08
Development ministers from the Group of 8 industrialized nations called Sunday for action on high food prices, which they said have hurt developing nations as well as efforts by aid donors.

10. Chaos complicates life for Walsh, chief executive of British Airways data: 07.04.08
The financial year just ended was supposed to mark a turnaround but just when Walsh should have been planning celebrations, he was juggling record fuel prices, economic malaise and Terminal 5 troubles.


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