U.S. Treasury Secretary Timothy Geithner said the economic recovery plan was upcoming
Xinhua in Washington, on January 28th: U.S. Treasury Secretary Timothy Geithner said that the Government would soon introduce an economic recovery plan to restore the functioning of the financial system and stimulate economic growth. Geithner said in Washington on the same day, that the Government was studying a variety of programs, and would soon make a decision. He said: “In the next few weeks, we will announce a series of reform measures to help stabilize the financial system, creating for consumers and businesses to re-flow of credit again.”
U.S. Government planed one trillion U.S. dollars for aid the banking sector and will introduce the four measures
Hexun hearing the news, according to “The Wall Street Journal” Web site on January 29th, 2009, signed from Washington a article reported that, according to insider disclosed that the U.S. government was seeking ways to further improve the banking sector assistance program and under discussion for plans to increase the one trillion U.S. dollars of financial assistance to aid the banking sector to reach two trillion U.S. dollars of funds.
Fed expected to maintain a low interest rate policy
U.S. Federal Reserve is scheduled on 27th to 28th to hold a two-day monetary policy decision-making meetings, and released of the new interest rate policy. The Associated Press recently reported that the Federal Reserve was likely to maintain the current low interest rate situation. The report said that at present the Federal Reserve had to respond to a “three-head economic monster,” that is the U.S. economy facing in the real estate, credit and financial markets in three areas of crisis, which issues are intertwined, forming a gridlock.
Pfizer announced that 68 billion U.S. dollars as the price of the acquisition of Wyeth Pharmaceuticals
Hexun hearing the news, according to warketwatch news, the world’s largest pharmaceutical company Pfizer (Pfizer Inc) today announced that it had with Wyeth Pharmaceuticals (Wyeth) to reach an agreement, in which it would be with 68 billion U.S. dollars as the price of the acquisition of the latter. This is the largest acquisition in the pharmaceutical industry of the past 10 years. Wyeth shareholders will receive 50.19 U.S. dollars per share offer. Pfizer borrowed from a bank consortium 22.5 billion U.S. dollars to complete the acquisition.
Barclays is expected to higher than expected in profit of 2008 and without the British Government to inject capital
Barclays Bank said that the expected pre-tax profit in 2008 would be 5.3 billion pounds higher than the previously expected. Because of the risk exposure of Barclays Capital credit market, results in 2008 including about eight billion pounds of asset are written down as gross value (their credit, hedging transactions with the proceeds attributable to the net write-down of five billion pounds).
British Prime Minister Gordon Brown thought that the recession was due to the failure of the international regulatory
Sina Financial inquiry, integrated foreign on January 26th reported that British Prime Minister Tony Brown (GordonBrown) would on 26th attribute the recession in the United Kingdom to foreign banks, but in a few hours later Brown’s British Conservative Party shadow cabinet Finance Minister Osborne (GeorgeOsborne) attempted to lie in the mismanagement of the economy of Brown. Britain confirmed on 23rd in a recession.
British Prime Minister Brown said the financial crisis would lead a new world order
Brown prime minister’s office said that, Brown would call upon in the speech out of pessimism and for a better future to take the necessary adjustment measures, the formulation of new rules for the new world order. On 23rd, official data confirmed that the British economy had entered a recession. A few days before the British Government also announced a package of measures to help credit. However, Brown said the quick recovery of economic needed for international action.
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