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This is Money
Congressional leaders announced an agreement on a $789 billion (550 billion) economic stimulus package that President Obama says is needed to pull the US out of recession.
Congressional leaders agree $789bn economic stimulus
China will continue to buy US Treasury bonds, even though it has misgivings about US finances and knows the dollar will depreciate, because it remains the only option amid financial turmoil, a senior Chinese banking regulator said Wednesday.
China to stick with US bonds
The toxic debts of European banks risk overwhelming a number of EU governments and may pose a systemic danger to the broader EU banking system, according a confidential memo prepared by the European Commission.
European banks' toxic debts risk overwhelming EU governments
The Bank of England is ready to launch a policy of "quantitative easing" printing money in an effort to lift the economy out of what the Bank calls "a deep recession". The Bank's central forecast, in its latest Inflation Report, suggests that annual growth in the UK economy will hit a nadir of -4 per cent in the summer of this year.
Bank will print money as UK sees 'deep recession'
Demand for oil will drop by 1.2 per cent this year, the biggest annual contraction since 1982, the International Energy Agency (IEA) warned yesterday.
Global demand for oil faces biggest contraction since 1982
BHP Billiton, the world's largest mining group, is set to crash the Chinese Government's $19.5 billion (13.5 billion) bailout of Rio Tinto.
BHP Billiton to gatecrash Chinalco's Rio Tinto bailout
The Financial Services Authority revealed last night that it had been concerned about HBOS's risk management for many years and that it told the bank its growth strategy posed risks just before Sir James Crosby left the bank.
FSA was concerned about HBOS for years