NY budget official predicts end to recession later this year, but doesn’t expect major rebound

September 24th, 2009 Geithner says financial flaws must be correctedPITTSBURGH — Treasury Secretary Timothy Geithner says he is seeing encouraging signs of a global economic rebound but the world still has a way to go to emerge from the severe recession. Geithner says that the United States is not going to walk away from the greatest crisis since the Great Depression and not reform the flaws in the financial system that triggered the crisis.

September 16th, 2009 UCLA forecast: Calif. economy slow through 2010LOS ANGELES — A UCLA forecast says California will continue to struggle with recession next year even though its high-tech industries will rebound.

September 16th, 2009 Total sees oil production rebound in 2010PARIS — Total SA expects its oil production to rebound in 2010 after cuts by OPEC and falling demand caused by the global recession weighed on its output this year, the company said Wednesday. The forecast was included in slides on the French oil giant's Web site ahead of a presentation to analysts later in the day.

September 11th, 2009 Rogge doesn't expect Vancouver budget deficitLONDON — International Olympic Committee president Jacques Rogge is confident the 2010 Winter Games in Vancouver will break even despite a budget shortfall. In an unprecedented gesture, the IOC said last month it would offer financial assistance to Vancouver's organizing committee, VANOC, if it ends up with a budget gap following the Feb.

August 19th, 2009 Analyst sees Limited Brands recovery in 4QNEW YORK — Specialty retailer Limited Brands Inc. reports fiscal second-quarter results after the market closes Wednesday, but one analyst said she doesn't expect markedly improved results until the fourth quarter.

July 30th, 2009 Taiwan's TSMC reports improved profit in Q2TAIPEI, Taiwan — Taiwan Semiconductor Manufacturing Co., the world's largest contract chip maker, said second quarter earnings rose significantly from the bleak first quarter as demand partially recovered from a severe slump. Net income during the April-June period amounted to 24.4 billion New Taiwan dollars ($740 million), up from the first quarter figure of NT$1.56 billion ($47.1 million), the company said Thursday.

July 10th, 2009 IEA forecasts strong rebound in oil demandPARIS — Global oil demand will rebound 1.7 percent next year as recovery in developing countries helps counter a two-year drop in oil usage sparked by the global recession, the International Energy Agency said Friday. The Paris-based agency predicted Friday in its closely watched monthly survey that global oil demand will increase by 1.4 million barrels a day in 2010 to 85.2 million barrels a day.

June 24th, 2009 German cabinet approves 2010 budgetBERLIN — Germany's cabinet has approved a budget for 2010 that foresees taking on record debt to help safeguard the country against the global financial crisis, the finance minister said Wednesday. The new budget anticipates euro86.1 billion ($120.35 billion) in fresh debt, more than double the euro40 billion for the current year and the largest credit to be taken out by the German government since World War II.

June 15th, 2009 NEW DELHI - The union budget for 2009-10 would be presented on July 6 and the railway budget three days earlier on July 3. The dates were decided early Monday before Prime Minister Manmohan Singh's departure for the Russian city of Yekaterinburg, an official said.

May 8th, 2009 AP sources: Obama to seek $17B in budget savingsWASHINGTON — A senior White House official says the president is recommending eliminating or cutting 121 programs to produce $17 billion worth of budget savings. Some of the cuts in President Barack Obama's budget are sure to rankle lawmakers, such as the elimination of a program that gives money to states to help defray the cost of incarcerating illegal immigrants who commit crimes.

April 30th, 2009 Obama hails passage of $3.4 trillion budgetWASHINGTON — President Barack Obama says the $3.4 trillion budget that Congress wrapped up builds on the steps he's taken to move the economy from recession to recovery and eventually prosperity. Shortly after the Senate voted to pass the measure Wednesday, Obama said the budget builds what he's done in his first 100 days.

April 22nd, 2009 Eurotunnel CEO predicts no major drop in ridersPARIS — The head of Groupe Eurotunnel SA says the English Channel tunnel operator is in "good health" despite the recession, which is having a limited impact on leisure travel. CEO Jacques Gounon told The Associated Press that he doesn't expect a big fall this year in the number of leisure passengers shuttled on high-speed trains under the English Channel between London and Paris.

February 15th, 2009 NEW DELHI - Following are the reactions from some prominent industrialists and economists to the interim budget presented by acting finance minister Pranab Mukherjee here Monday: Deepak Parekh, chairman, HDFC Bank: Not a disappointment, I did not expect anything in the interim budget. It was never meant to be a giveaway.

February 15th, 2009 NEW DELHI - The interim budget presented by External Affairs Minister Pranab Mukherjee had failed to address the economic recession, most opposition parties, including the Bharatiya Janata Party (BJP) and the Left, said Monday. Communist Party of India-Marxist (CPI-M) leader Basudeb Acharya said the budget did not address the key issues facing the country.

February 15th, 2009 NEW DELHI - External Affairs Minister Pranab Mukherjee did not present a populist budget as the United Progressive Alliance (UPA) government had done a 'tremendous job' and does not need to play to the gallery, the ruling Congress maintained Monday. Mukherjee observed 'constitutional propriety' while presenting the interim budget, Congress spokesperson Manish Tewari said.