- Indonesia Shows Greece There's Life After Austerity With BRIC Club Pitch If al-Qaeda-linked terrorists thought they could drive foreign investors out of Indonesia, they didn’t reckon with the likes of Jim Castle.
- Defaults on Apartment Building Mortgages Held by U.S. Banks Rise to Record Defaults on apartment-building mortgages held by U.S. banks climbed to a record 4.6 percent in the first quarter, almost twice the year-earlier level, as more borrowers failed to repay debt approved near the market peak, said Real Capital Analytics Inc. in a report.
- CajaSur Seizure by Regulator Spells Pain for Spain's Ailing Savings Banks As a Roman Catholic priest, Santiago Gomez Sierra began his last board meeting as chairman of the failed Spanish savings bank CajaSur three days ago by saying a prayer. Some of the directors crossed themselves.
- Sex Scandal Shake-Up Reinvigorates Turkey Opposition, Boosts Poll Standing The new leader of Turkey’s main opposition party says he wants to reach out to Turkey’s poor and jobless ahead of general elections that must be held by July of next year.
- Goldman Sachs Fraud Settlement May Hinge on How SEC Can Justify a Penalty Analysts predict Goldman Sachs Group Inc. will pay $1 billion or more to settle a Securities and Exchange Commission fraud suit that triggered a 26 percent drop in the firm’s stock. Extracting such a record-setting penalty may be easier said than done.
- No One Says Trichet Can Succeed Himself When Euro Enthusiasts Get Wistful The European Central Bank’s ability to tackle the euro area’s sovereign-debt crisis won’t end with the departure next year of President Jean-Claude Trichet, the continent’s most experienced monetary policy maker.
- Wal-Mart Asks Suppliers to Give Up Control of Their Deliveries Across U.S. Wal-Mart Stores Inc., the world’s largest retailer, is seeking to take over U.S. transportation services from suppliers in an effort to reduce the cost of hauling goods.
- Philip Green Targets Brazil, China for Expansion of Topshop Clothing Chain U.K. retailing billionaire Philip Green will open stores of his Topshop fashion chain in Brazil and China as he looks to new markets to drive growth.
- Fed's `Main Street' Message to Senators Protected Powers in Financial Bill Senator John Ensign went into a Capitol Hill meeting with four Federal Reserve bank presidents and emerged to say he was convinced of their “concern for Main Street.”
- Pentagon Plan to Upgrade Afghan Airbase Near Iran May Rile Islamic Regime A U.S. plan to upgrade its airbase in southwestern Afghanistan just 20 miles from Iran’s border will likely rile the Islamic regime, bolstering suspicions the West is trying to pressure it with military might, analysts say.
- Homegrown Hero Locke Tries to Build U.S. Trade in China as Tensions Lurk U.S. Commerce Secretary Gary Locke was leaving a ceremony in Shanghai this week when May Wang cornered him to get his autograph on a decade-old photo of the two of them with Locke’s wife, Mona.
- Phuket Villas Go Empty as Bangkok Riots Frighten Tourists Away From Island About 860 kilometers (534 miles) south of the rioting in Bangkok, the island of Phuket is again counting the cost of events beyond its control.
Bloomberg Daily News 24th May 2010
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