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More pirate attacks feared off Somalia
The commander of the European Union’s anti-piracy operation warns merchant shipping that a significant number of raids might take place in the Gulf of Aden in September
More foreign companies in class-action suits
A study shows that the financial sector is the growing focus of US federal securities class-action lawsuits and that foreign companies are increasingly targets of such cases
Editorial: A tale of two banking systems
Banks’ gain from large spreads and fees is a loss to those on the other side of the transactions. This is a dangerous situation and may reignite popular outrage
City folk go back to the soil
Increasing numbers of urban Russians are responding to the country’s economic crisis by turning to vegetable growing, joining seasoned gardeners who are increasing their output to feed their families and sell their surplus
Russian economy plummets 10.1%
Russia’s economy shrank 10.1 per cent in the first half of this year, the economy minister said, its worst decline since the early 1990s
Lex: Reaggregating the supply chain
The deep downturns experienced by countries heavily engaged in trade has led to political commentary that a reliance on exports is a weakness
Berlusconi accused over tax amnesty
Italy’s centre-right government proposed a tax amnesty aimed at repatriating billions of euros – the bulk believed to be held in Swiss bank accounts
Melting ice threatens polar life
The Canadian Arctic is facing another year of open water with the summer break-up of sea ice ahead of schedule in many key parts of the northern archipelago, underlining the impact of climate change as increased traffic through the Northwest passage spells further environmental damage
Eurozone confirms negative inflation
Prices across the eurozone were lower in June than a year earlier, Eurostat, the EU’s statistical office confirmed, reflecting lower oil and petrol prices rather than a sustained move to deflation
DoJ demands CDS trading data from dealers
The Department of Justice has opened an investigation into the credit derivatives market, with letters sent to over a dozen dealers asking for several years’ worth of detailed information about trading and pricing
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