E.C.B. Threatened to End Funding Unless Ireland Took Bailout, Letters Show
By STEPHEN CASTLE
Letters released by the European Central Bank show how Ireland’s government was left with little alternative but to apply for the bailout.
Jean-Claude Juncker was the prime minister of Luxembourg when the tiny country was transformed into one of the world’s premier low-tax hubs.
The bank moved closer to the kind of large-scale government bond purchases used in the United States and left its benchmark interest rate unchanged.
Letters released by the European Central Bank show how Ireland’s government was left with little alternative but to apply for the bailout.
The move halts all activities at the bank and opens the way for the payment of about $2.3 billion in deposits to businesses and consumers.
The competition regulator in Britain said that it will begin an inquiry into the dominant position of the country’s largest lenders in retail banking and in lending to small businesses.
Britain’s central bank said it would keep its benchmark interest rate at 0.5 percent, where it has been since March 2009.
In a sign of the seismic changes underway in the tech industry, Microsoft will give away its lucrative software product on iPads, iPhones and Android tablets.
The Japanese supplier, whose faulty airbags have been linked to several deaths, faces legal uncertainty and rising costs related to a large recall.
Two years into an aggressive stimulus under Prime Minister Shinzo Abe, his campaign to reinvigorate Japan’s economy is entering a make-or-break phase.
Earlier, the European Central Bank president said the organization was preparing the groundwork for further stimulus measures if needed.
The sale to the private equity firm EQT Partners and the Strüngmann family means the German conglomerate will not pursue a public listing for Siemens Audiology Solutions.
After 21st Century Fox agreed to sell its 57.45 percent stake to British Sky Broadcasting earlier this year, the offer was extended to other shareholders.
Both French banks overcame weak domestic retail businesses to post higher net income, with Société Générale cutting its loan loss provisions.
Spending on high-speed mobile and broadband networks, coupled with continuing economic malaise in some European markets, led to the decline.
A report by the Natural Resources Defense Council and Chinese partners puts a monetary price on the problems created by the energy source, like air pollution.
While passwords aren’t likely to disappear soon, new technology that uses eyes and fingerprints as identifiers can protect data more easily.
In the 20 years since their introduction, banner ads have ruined the appearance and usability of the web, perverted content and diminished privacy.
Redistributing income with taxes and transfers is largely failing to close the income gap. Perhaps it’s time to try a corporate approach.
Creditors do not move to shut down a law school because keeping a struggling school alive means there is some possibility of repayment.
In a bid to help harried travelers save time at check-in, a number of major brands are experimenting with letting guests use their phones to unlock their rooms.
After a steep plunge from the peak year, 2008, demand for midsize and smaller jets is picking up again.