Connect with us

International

Alan Greenspan, architect of the modern American economy, dies aged 100

For nearly 20 years, Alan Greenspan was charged with safeguarding the US economy and keeping the dollar sound.

Published

on

104 Views

Former US Federal Reserve chair Alan Greenspan has died aged 100, his wife has said.

NBC News correspondent Andrea Mitchell said in a statement reported by her employer that her husband had died from complications of Parkinson’s Disease.

Mitchell’s statement said Greenspan was “a giant of a man who helped shape the US economy for decades under presidents of both parties, but was always honest in acknowledging his mistakes”.

For nearly 20 years, Alan Greenspan was charged with safeguarding the US economy and keeping the dollar sound.

As chairman of the Federal Reserve from 1987-2006, a post described as the second most important after the presidency, he presided over the longest sustained period of US economic growth in a generation.

Described as the “God in the machine” of American finance, Greenspan declined all requests for interviews during his time at the Fed.

The media and the money markets hung on his few public statements, and a sign in his office said simply, “the buck starts here”.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

International

At least 28 killed, 25 critically injured after fire engulfs Bangkok bar

Footage posted online shows panicked customers screaming as they fled – some with their clothes on fire – through the flame-enveloped front door of Rong Beer Na Lat Phrao.

Published

on

By

19 Views

A huge fire tore through a bar in Thailand’s capital Bangkok late on Sunday, killing at least 28 people and leaving 25 critically injured, according to BBC.

The blaze started near the stage of the bar in the popular Chatuchak district, then spread rapidly, cutting power and engulfing the room with smoke, eyewitnesses say.

Footage posted online shows panicked customers screaming as they fled – some with their clothes on fire – through the flame-enveloped front door of Rong Beer Na Lat Phrao.

Firefighters, who arrived at the scene just after midnight, quickly extinguished the fire. They found the bodies of most of the victims in a bathroom, where they had apparently sought shelter.

“Most of the people who died were found in the toilets. When the fire broke out, they panicked.

There were no lights,” national police chief Kitrat Panphet said.

Kaew-udon Poungppany, 24, from Laos, fought back tears as he described trying to reach his younger brother, who did not survive.

“I grabbed a fire extinguisher and sprayed it at the door… but I couldn’t go any further. I heard people screaming,” he told journalists.

Continue Reading

International

General Hydrocarbons Floors FBN as S’Court Sets Aside Appeal Court Ruling

Published

on

70 Views

…..As court Orders Return of Seized Oil Vessel

The Supreme Court has nullified the Court of Appeal’s ruling that permitted the seizure of an oil vessel belonging to General Hydrocarbons Limited (GHL) to settle a contractual dispute with First Bank of Nigeria (FBN).

In a unanimous judgment delivered on Friday, the apex court ordered the immediate return of the seized vessel and the proceeds from the sale of its contents to GHL, its rightful owner.

The Supreme Court dismissed the case instituted by FBN, declaring that the dispute was purely contractual in nature and did not qualify as a maritime matter. It therefore held that the Federal High Court lacked the jurisdiction to entertain the suit from the outset.

The apex court faulted both the trial court and the Court of Appeal for assuming jurisdiction over the matter and proceeding to determine it.

The ruling effectively ends the long-running legal battle, delivering a major victory to General Hydrocarbons Limited against the bank.

Continue Reading

International

South Africa Anti-Immigration Peaceful Protests To Continue Weekly Till Demands Are Met

A senior reporter, Channel, Africa, Nhlanhla Mahlangu, reported that the anti-immigration protests held across several South African cities remained largely peaceful despite isolated incidents of violence and attempted looting.

Published

on

By

100 Views

The organisers of South Africa anti-immigrant protest have announced that come next week, from Thursday, every Thursday, they will be taking to the streets until the government heeds to their call and ensure that all undocumented nationals leave the country.

A senior reporter, Channel, Africa, Nhlanhla Mahlangu, reported that the anti-immigration protests held across several South African cities remained largely peaceful despite isolated incidents of violence and attempted looting.

She also revealed that organisers intend to continue with weekly demonstrations from next Thursday until their demands are met.

Mahlangu further reported that an inter-ministerial committee comprising ministers within South Africa’s security cluster commended the largely peaceful conduct of the protests while condemning isolated incidents of violence reported across the country.

Continue Reading

Trending