Lawrence Summers

Capt. Lawrence E. Dickson's ring was found in the dirt during a dig last summer at the World War II crash site near Hohenthurn.

As summer temperatures finally settle in, many in the U.S. take it for granted that they can dial down the thermostat: Americans use 5 percent of all of their electricity cooling homes and buildings. In many other countries, however - including countries in much hotter climates - air conditioning is still a relative rarity.

The climate has become warmer due to emissions from industrial countries and India is right in protesting against taking binding commitments that can keep it poor, an eminent economist has said.

India has the potential to grow at 9 per cent for a decade and 8 per cent in subsequent years if the country takes bold reform measures, eminent economist and Harvard University professor Lawrence Summers said on Saturday.

In discussion with Vikram Chandra, Group CEO and Executive Editor, NDTV Group, economist Dr Lawrence Summers is talking about world economy at the 13th Hindustan Times Leadership Summit.

There are no fast rules for running the Federal Reserve, but Janet L. Yellen has a few. Rule No. 1: Be methodical and transparent. Rule No. 2: See rule No. 1.

Federal Reserve Vice Chair Janet Yellen, President Barack Obama's pick to lead the US central bank, said on Wednesday that strengthening the economic recovery and boosting employment would be priorities if she is confirmed as Fed leader.

Federal Reserve Vice Chair Janet Yellen, President Barack Obama's pick to lead the U.S. central bank, said on Wednesday that strengthening the economic recovery and boosting employment would be priorities if she is confirmed as Fed leader.

Although the anticipated trimming of the Fed's massive bond purchases has caused some apprehension, markets expect a much longer road to rate hikes after former Treasury secretary Lawrence Summers dropped out of the race to become its next chief.

The partially convertible rupee traded 1.5 per cent higher as against Friday's close of 63.49. The Sensex traded above the key 20,000 mark, while the Nifty surged over 100 points to edge above the 5,950 levels.

After weeks of opposition to his candidacy from an array of progressives, the president's inability to rally congressional Democrats on Syria persuaded Summers that his most important audience - the Senate, which must confirm a Fed chairman - probably could not be won over.

Summers' surprise decision comes just before the central bank meets on Tuesday and Wednesday to decide when and by how much to scale back its asset purchases from the current pace of $85 billion a month.

Five years ago, a series of black cars and SUVs lined up outside the Federal Reserve Bank of New York in lower Manhattan, ferrying some of the most important people in the US financial system to a series of meetings to discuss the fate of Lehman Brothers.

They seem right out of a Hollywood fantasy, and they are: Cars that drive themselves have appeared in movies like "I, Robot" and the television show "Knight Rider."

Chinese currency renminbi is unlikely to supplant the US dollar as the world's reserve currency in the near term, former US Treasury Secretary Lawrence Summers said today.

Capt. Lawrence E. Dickson's ring was found in the dirt during a dig last summer at the World War II crash site near Hohenthurn.

As summer temperatures finally settle in, many in the U.S. take it for granted that they can dial down the thermostat: Americans use 5 percent of all of their electricity cooling homes and buildings. In many other countries, however - including countries in much hotter climates - air conditioning is still a relative rarity.

The climate has become warmer due to emissions from industrial countries and India is right in protesting against taking binding commitments that can keep it poor, an eminent economist has said.

India has the potential to grow at 9 per cent for a decade and 8 per cent in subsequent years if the country takes bold reform measures, eminent economist and Harvard University professor Lawrence Summers said on Saturday.

In discussion with Vikram Chandra, Group CEO and Executive Editor, NDTV Group, economist Dr Lawrence Summers is talking about world economy at the 13th Hindustan Times Leadership Summit.

There are no fast rules for running the Federal Reserve, but Janet L. Yellen has a few. Rule No. 1: Be methodical and transparent. Rule No. 2: See rule No. 1.

Federal Reserve Vice Chair Janet Yellen, President Barack Obama's pick to lead the US central bank, said on Wednesday that strengthening the economic recovery and boosting employment would be priorities if she is confirmed as Fed leader.

Federal Reserve Vice Chair Janet Yellen, President Barack Obama's pick to lead the U.S. central bank, said on Wednesday that strengthening the economic recovery and boosting employment would be priorities if she is confirmed as Fed leader.

Although the anticipated trimming of the Fed's massive bond purchases has caused some apprehension, markets expect a much longer road to rate hikes after former Treasury secretary Lawrence Summers dropped out of the race to become its next chief.

The partially convertible rupee traded 1.5 per cent higher as against Friday's close of 63.49. The Sensex traded above the key 20,000 mark, while the Nifty surged over 100 points to edge above the 5,950 levels.

After weeks of opposition to his candidacy from an array of progressives, the president's inability to rally congressional Democrats on Syria persuaded Summers that his most important audience - the Senate, which must confirm a Fed chairman - probably could not be won over.

Summers' surprise decision comes just before the central bank meets on Tuesday and Wednesday to decide when and by how much to scale back its asset purchases from the current pace of $85 billion a month.

Five years ago, a series of black cars and SUVs lined up outside the Federal Reserve Bank of New York in lower Manhattan, ferrying some of the most important people in the US financial system to a series of meetings to discuss the fate of Lehman Brothers.

They seem right out of a Hollywood fantasy, and they are: Cars that drive themselves have appeared in movies like "I, Robot" and the television show "Knight Rider."

Chinese currency renminbi is unlikely to supplant the US dollar as the world's reserve currency in the near term, former US Treasury Secretary Lawrence Summers said today.