Archive for the ‘Business’ Category

A pension fund that bought shares in Goldman Sachs last year is suing the investment bank to recover the billions of dollars paid as bonuses to its staff. The Central Labourers' Pension Fund filed the lawsuit in the Supreme Court of New York on Thursday, saying that Goldman Sachs continued to pay out lavish bonuses despite receiving a $10bn bailout from the US government.... Full story

George Papandreou, the Greek prime minister, has ruled out the option of his debt-ridden country leaving the eurozone or resorting to a bailout from the International Monetary Fund (IMF). Papandreou's remarks came as a team of IMF experts, requested by Greece's finance ministry, launched a week-long mission to the country on Wednesday to help restore its battered economy. "There is no case of Greece leaving the eurozone or resorting to ... Full story

The US president has proposed imposing a fee on big Wall Street banks to reimburse taxpayers up to $117bn for the 2008 financial bailout. Lambasting bankers for their "massive profits and obscene bonuses", Barack Obama vowed on Thursday to "recover every single dime" the government spent rescuing the financial sector from its worst crisis since the Great Depression. "We want our money back and we are going ... Full story

The US government has backed a move by Google to end its support for China's censoring of internet searches after a spate of cyber attacks on the internet giant's email accounts. In a statement the White House said it supported the search giant's threat to possibly pull out of the country, saying the issue was important both from a point of view ... Full story