Policymakers’ Inflation Forecasts Hurt India's Credibility - Ahluwalia
Over-optimistic forecasts by policymakers predicting when India's stubbornly high inflation would ease have hurt the government's credibility, says Montek Singh Ahluwalia.
Imperial Overstretch: Is A Bloated Defense Budget Weakening the U.S.?
U.S. overspending on the military has diverted resources from civilian / social investments, weakening the economy, and, by extension weakening the nation. If it doesn’t substantially cut defense spending, the U.S.’s empire will likely share the fate of two other empires that overspent on the military -- the British Empire and the Soviet Union.
Greece's New PM Heads for Brussels in the Search for Cash
Greece's new prime minister headed to Brussels on Sunday to fight for the aid Athens needs to avoid bankruptcy, even as one of his coalition backers refused to give a written pledge to support reforms and a public-sector union readied itself for strikes.
Infrastructure a Roadblock to Growth in India - Report
Standard & Poor's Ratings Services said in a report that creaky infrastructure, which is a major roadblock to its target of achieving a 9-9.5 percent annual growth.
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China's Vice Premier Sees Chronic Global Economic Recession
A long-term global economic recession is certain to happen, and China must focus on domestic problems, Chinese Vice Premier Wang Qishan was quoted by the official Xinhua news agency as saying at the weekend.
Molycorp: Rare Earth Price Decline May Obstruct New Operations
American mining corporation, Molycorp Inc. has indicated that funding of new mining operations by developers may be difficult following the sharp decline in rare earth metal prices.
Airbus Opens Asian Logistics Center in China
Airbus SAS has opened a logistics company in Tianjin, China, to optimize and support supply chain management for present and future industrial cooperation programs of EADS and Airbus in China. The center, in Tianjin's Free Trade Zone Comprehensive Bonded Area, is now fully operational.
LivingSocial Looks to Raise $200 Million
On top of fundraising, the daily-deals company is discussing plans for a credit facility of $100 million.
What is a Sovereign Debt Crisis? Why is it so Scary?
Before 2010, most people in developed countries did not know what a sovereign debt crisis was because they never experienced it firsthand. After Greece was brought to its knees by this phenomenon, the phrase “sovereign debt crisis” was on the lips of virtually all Europeans.
Julius Baer Head Sees U.S-Swiss Tax Deal in Next 3-6 Months
Switzerland could see a deal within the next three to six months to end a long-simmering dispute over how it will hand over data to the United States on wealthy Americans suspected of dodging taxes, Julius Baer CEO Boris Collardi said on Saturday.
MF Global Australian Arm Cut Off with No Buyers: Report
The Australian arm of the collapsed U.S. futures broker MF Global Holdings Ltd. has been shuttered by the administrator Deloitte after no buyers could be found, The Australian newspaper reported on Saturday.
Markets Could Rally Next Week, but There Are Some Mighty Big 'Ifs'
Wall Street is in for a volatile week as escalating problems in Europe's debt crisis continue to keep investors on their toes. With light trading volume expected due to the U.S. Thanksgiving holiday on Thursday, intraday swings are likely to be wide and frequent.
Quarter of Americans Expect to Work Until 80, Past Average Life Expectancy, Study Finds
Twenty-five percent of respondents to a survey by Wells Fargo & Co. (NYSE:WFC) said they expect to work until they are 80 in order to be able to retire comfortably. The current life expectancy in the United States is 78.1 years on average, meaning those respondents expect to work full-time two years longer than most people live.
Gold Likely to Hit Biggest Weekly Loss since Sept
Gold inched up on Friday was still on track for its biggest weekly loss since September as euro zone debt contagion worries spooked investors.
Morocco consumer prices fall for 2nd time this year
Consumer prices in Morocco fell year-on-year in October, their second drop this year, due mostly to cheaper food, official data showed on Friday.
Cameroon targets 5.5 pct growth in 2012: budget
Cameroon will raise spending 8.9 percent in 2012 in an effort to stimulate the economy of the oil-producing central African state, according to a draft budget due to be delivered to parliament on Friday.
Canada Life Ireland lead bidder for Irish Life: source
Canada Life Ireland, a unit of Canada's second-largest life insurer Great-West Lifeco (GWO.TO: Quote), is the lead candidate buy Irish Life & Permanent's (IPM.I: Quote) insurance arm, a source close to the matter said on Friday.
Panic Selling Sends Jefferies Into Tailspin as Company Tries to Fend Off Rumors
Negative rumors have turned Jefferies Group Inc. into the latest financial whipping boy. A controversial report from ratings agency Egan-Jones, which the firm has stood by, has spooked the markets. Jefferies is insistent that it remains solid. Who will investors believe?
Dollar pushed higher by inflation data
The dollar firmed to a session high against the U.S. currency on Friday after data showed Canada's October inflation rate came in higher than forecast, curbing market bets on an interest rate cut.
Canada's Asian oil push not a slap to U.S.: minister
Canada is looking to diversify the market for oil sands crude by courting buyers in Asia, and is not trying to punish the United States for delaying TransCanada Corp's Keystone XL pipeline to Texas, the country's natural resources minister said on Friday.
Inflation eases but rate cut seen less likely
Canada's annual inflation rate moderated in October from a near three-year high in September but was still higher than expected, scaling back market bets for a central bank interest rate cut.
Bank of Canada sees slower growth in 2012
The Bank of Canada expects the economy to grow next year at its weakest pace since 2009, driven by domestic demand, while exports continue to underperform.
ECB has Secret 20 Billion Euro Bond-buying Limit: Report
The European Central Bank has secretly imposed a weekly limit of about 20 billion euros ($27 billion) on its euro zone sovereign bond-buying program, according to a report in Germany's Frankfurter Allgemeine Zeitung published on Friday.
Italian Yields Fall on ECB; Contagion Risks Remain
Italian and Spanish government debt yields fell on Friday, as the European Central Bank bought bonds in the secondary market, but held close to unsustainable levels as contagion fears and money market stress raised the pressure for policymaker action.
Salesforce.com Losses to Continue in Q4; What to do with the Stock?
Salesforce.com (NYSE:CRM) said Thursday it slipped to a loss in its third quarter on higher costs and said the losses would continue into the fourth quarter.
Top After Market NYSE Gainers (ANN, PKD, MTOR, WAL, CBD, CCL, BAS, WF, GGB, HPQ, S)
The top aftermarket NYSE gainers Thursday were: Ann Inc, Parker Drilling, Meritor, Western Alliance Bancorporation, Companhia Brasileira de Distrib, Carnival Corp, Basic Energy Services, Woori Finance Holdings, Gerdau, Hewlett-Packard and Sprint Nextel Corp.
Top After Market NYSE Losers (CRM, CF, ETE, DOLE, ELN, IAG, SWY, JBL, IP, RHT)
The top after market NYSE Losers on Thursday were: Salesforce.com, CF Industries Holdings, Energy Transfer Equity, Dole Food Co, Elan Corp, Iamgold, Safeway, Jabil Circuit, International Paper and Red Hat Inc.
Governance Group Urges Tokyo Bourse not to Delist Olympus
A corporate governance advocacy group whose members include institutional investors that collectively manage assets of more than $10 trillion urged Tokyo's stock exchange on Friday not to delist disgraced Olympus Corp .
Post-Market NASDAQ Gainers (BCSI, FMCN, CTCM, KITD, SCVL, PLAB, RJET, ONNN, MHGC, PERY)
The top after-market NASDAQ stock market gainers are: Blue Coat Systems, Focus Media, CTC Media, KIT Digital, Shoe Carnival, Photronics, Republic Airways Holdings, ON Semiconductor, Morgans Hotel and Perry Ellis.
Post-Market NASDAQ Losers (CBRX, CADX, LEDS, ALNY, LINTA)
The top after-market NASDAQ stock market losers are: Columbia Labs, Cadence Pharma, SemiLEDS, Alnylam Pharma and Liberty Interactive.
Stocks in Focus (ANN, BCSI, HNZ, CRM, NKE, GAME, GPS, ARUN, MRVL, HIBB)
The companies that are expected to see active trade Friday are: Ann Inc, Blue Coat Systems, H J Heinz, Salesforce.com, Nike, Shanda Games, Gap, Aruba Networks, Marvell Technology and Marvell Technology.
Boeing Reports Record Commercial Jet Order of $21.7 Billion in Indonesia
Boeing Co. Has received its biggest commercial jet order ever by Indonesia's Lion Air who made an agreement to purchase 230 new 737 models. At $21.7 billion, the order will be the biggest order and the largest transaction till date.
Richard Branson’s Virgin Money Buys Northern Rock for $1.2 Billion
Business magnate, Richard Branson's Virgin Money financial services company has brought Northern Rock for $1.2 billion. This has been the first sale of a nationalized bank in the country since the 2008 financial crisis.
Hedge Fund Manager Charged With Fraud for Claiming to Own Facebook, Twitter Stock
John A. Mattera was arrested Thursday for telling investors that they could buy shares of stock from Facebook, Twitter and other technology companies before their initial public offering.
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