Panel to call Greenspan, Cox
WASHINGTON: US regulators admitted to failing to head off the 2008 financial crisis as they appeared before a panel whose chairman said he plans to seek testimony from former Federal Reserve Chairman Alan Greenspan. To learn more, commission Chairman Phil Angelides said on Thursday he will seek testimony from Greenspan, current Fed Chairman Ben Bernanke and former chairmen of the US Securities and Exchange Commission, including Christopher Cox.
Norway’s oil, gas output to fall
OSLO: Norway’s oil and gas output is set to fall about 1.1 percent in 2010, its petroleum directorate said Friday, calling on companies to better exploit existing oil fields. In 2010, Norwegian gas and oil output will be 236 million cubic meters of oil equivalent — a standard measure — down from 238.6 million in 2009, a level which was already 1.0 percent lower than in 2008.
Ghana inflation drops to 15.97%
ACCRA: Annual inflation in Ghana fell again in December and is set to ease further, the statistics office said on Friday, raising expectations of more rate cuts in one of West Africa’s premier economies. Inflation fell to 15.97 percent from 16.92 percent the month before, broadly in line with a target of around 15 percent issued by the government in November.
European car sales sink 1.6%
BRUSSELS: German luxury auto makers BMW and Daimler saw sales slip more than other car companies last year as government cash-for-clunkers programs helped overall sales slow by just 1.6 percent from 2008. EU carmakers’ association ACEA said some 14.48 million cars were sold last year, less than 14.7 million in 2009.
— Compiled from agencies
