Buffett likens meltdown to “an economic Pearl Harbour”

September 23rd, 2009 NEW YORK - Al-Qaida marked the eighth anniversary of the September 11 attacks on New York and Washington with a video message in which it predicted that Barack Obama would be brought down by the Muslims. In a two-part, 106-minute tape recorded in Arabic and released on militant websites, Osama bin Laden's right hand man, Ayman al-Zawahri, likened the US president to his predecessor.America has come in a new, hypocritical face.

September 14th, 2009 Obama warns Wall Street againt high-risk behaviorNEW YORK — President Barack Obama says he sees new signs of the kind of high-risk business behavior that nearly caused a financial meltdown a year ago and is warning Wall Street there won't be another bailout. In a widely anticipated speech in the heart of New York's financial district, Obama also said he feels confident that the country's financial system has been steadied.

August 20th, 2009 Correction: Meltdown 101 Q&A on flash ordersNEW YORK — In an Aug. 13 Q&A about a stock trading service called "flash orders," The Associated Press, relying on a news release, reported erroneously that the exchange Direct Edge ECN LLC planned to stop offering the orders.

July 24th, 2009 CIT Group sweetens debt buyback offerNEW YORK — Small-business lender CIT Group Inc. said Friday it has sweetened some terms of a buyback offer for $1 billion of debt and repeated that it may have to seek bankruptcy protection if enough noteholders don't agree to it.

June 16th, 2009 NEW DELHI - A delegation of Indian chief executives, headed by Confederation of Indian Industry (CII) president Venu Srinivasan, will visit the US this week to build on bilateral economic relations, the industry lobby said Tuesday. The June 17-19 meetings with US officials, politicians, economists and representatives of the American corporate sector will explore new avenues of collaboration and focus on issues such as global meltdown, civil nuclear energy deal and climate change, CII said in a statement.

June 13th, 2009 BRUSSELS - The International News Safety Institute on Friday welcomed passage of the Daniel Pearl Freedom of the Press Act by the US House of Representatives and urged the Senate and President Obama to speed its progress into law. The measure, passed late on Wednesday as part of the Foreign Relations Authorization Act, expands the examination of press freedom worldwide in the State Department's annual human rights report and establishes a grant programme aimed at strengthening media independence internationally.

May 29th, 2009 NY pension fund takes more than 26 percent hitALBANY, N.Y. — New York state Comptroller Thomas DiNapoli says the state's massive public pension fund lost more than 26 percent on its investments during a fiscal year marked by Wall Street's meltdown and the recession.

May 5th, 2009 NEW YORK - Warren Buffett may have sagely advice on investment in any number of fields, but one area he says he won't touch these days is the newspaper industry. 'The Oracle of Omaha' made these remarks at the Berkshire Hathaway Inc.

April 27th, 2009 Cayman Islands: Sand, sun and skateboardingNEW YORK, New York — Sand and sun are part of any Caribbean vacation. But how about skateboarding? The Cayman Islands are home to Black Pearl Skate and Surf, one of the world's largest skateparks, and this summer the park is hosting Skate Cayman, a camp that will showcase professional skateboarders and instructors from around the globe.

April 23rd, 2009 Plan to regulate financial market slows on HillWASHINGTON — A key piece of President Barack Obama's plan to prevent another economic meltdown already has slowed in Congress, and Democrats acknowledged Thursday that the task of approving the proposal may be tougher than initially thought. Rep. Barney Frank, D-Mass., and chairman of the House Financial Services Committee, has delayed plans to take up during the first week of May a bill that would enable the government to wind down failing financial institutions like insurance giant American International Group.

April 16th, 2009 WASHINGTON - Borrowing a leaf from the famed Boston Tea Party, tens of thousands of Americans greeted the deadline for filing income tax with a nationwide 'tea party', protesting what some view as excessive government spending and bailouts. Turning TEA into an acronym for 'Taxed Enough Already', demonstrators at over 750 rallies across the US Wednesday protested government spending, namely the Obama administration's $787 billion stimulus package and $3.5 trillion budget.

March 10th, 2009 NEW YORK - Major US stock indices closed lower Monday, after the World Bank said it expects the global economy to shrink this year and billionaire Warren Buffett offered another dire assessment about the state of the US economy. Buffett, the world's richest man according to Forbes Magazine, told US business broadcaster CNBC that the economy 'has fallen off a cliff' and criticized the US government response to the crisis as 'muddled'.

March 4th, 2009 NEW DELHI - India Tuesday warned against the dangers of protectionism and asked developed countries not to stop the flow of funds to developing countries due to the global economic downturn. 'Developed countries should not resort to protectionism to resolve the crisis,' External Affairs Minister Pranab Mukherjee, who is also acting finance minister, told reporters here when asked about the impact of global financial meltdown on developing countries.

January 11th, 2009 KOLKATA - The price of natural rubber is likely to come down by around Rs.15 a kg in the near future due to a slump in demand from tyre companies, M.F. Vohra, president, All India Rubber Industries Association (AIRIA), said here Monday.

December 29th, 2008 RIO DE JANEIRO - Brazil, recovering from the impact of the global financial meltdown, expects its economy to grow in the first half of 2009. Labour Minister Carlos Lupi said the country's economy will see an estimated 4.5 percent growth in 2009, higher than the previously projected four percent by the finance ministry and 3.2 percent by the central bank.