WASHINGTON - BANKS that are getting taxpayer bailouts awarded their top executives nearly US$1.6 billion (S$2.3 billion) in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals.
MADRID/ROME - THE European Central Bank is likely to cut interest rates next month if inflation expectations are well below its target of close to 2 per cent, ECB Council member Miguel Angel Fernandez Ordonez said in an interview on Sunday.
LONDON - INTERNATIONAL Monetary Fund chief Dominique Strauss-Kahn said insufficient fiscal stimulus by governments to tackle the global slowdown may make a bad 2009 even worse, according to an interview released on Sunday.
Mr Strauss-Kahn told BBC radio that the IMF may need to cut its next economic growth forecasts, due in January, referring to '2009 as really being a bad year'.
