ECONOMY & MARKETS

China Factory Output Cooling in August: HSBC

Workers make shoes, which will be exported to the U.S., at a shoe factory in Xihua county
China's factory sector is likely to slow slightly for a second consecutive month in August as sluggish overseas demand saps new orders, HSBC's China Flash PMI indicated Tuesday.
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Gross

PIMCO's Bill Gross: 'High Probability' of New U.S. Recession

Pimco's Bill Gross says a new recession in the U.S. is likely. Gross is manager of the world's largest bond fund. He says the decline in U.S. Treasury yields to 60-year lows reflects a high probability of a new recession, or a double-dip, in America.
New Book on IBM Founder

IBM Founder Knew How to Tackle Economic Slump

Peter E. Greulich documents Thomas J. Watson, Sr.’s founding leadership that enabled IBM to grow for a century in ‘The World’s Greatest Salesman: An IBM Caretaker’s Perspective, Looking Back’
A money dealer counts the Nigerian naira on a machine in his office in the commercial capital of Lagos

Nigerian naira falls to 2-month low vs dollar

The Nigerian naira fell to its weakest in almost two months against the U.S. dollar on the interbank market on Monday after the central bank removed restrictions on the amount of dollars lenders could sell to bureaux de change.
John Atta Mills

Ghana parliament to debate China's $3 bln loan

Ghana's parliament will begin debating on Monday a $3 billion loan facility awarded by China Development Bank to the west African nation to finance infrastructure projects including in the oil and gas sector, a government statement said.
Dubai's New Rules

Are U.A.E. Car Dealers Waging War on Banks?

Car dealers in the United Arab Emirates are trying to get around strict new regulations created by the Gulf nation’s Central Bank that require car buyers to put 20 percent down on every purchase.
U.S. Federal Reserve Chairman Ben Bernanke

Is this the Week Fed Chairman Ben Bernanke Starts QE3?

With the U.S. recovery having slowed considerably, and Europe debt woes persisting, investors will look to Fed Chairman Ben Bernanke's Jackson Hole, Wyo. speech later this week to provide clues regarding the central bank's evaluation of the economy, and at what point it thinks additional stimulus would be needed.
Cadillac Converj

Cadillac Converj Concept Will Become ELR

The Cadillac Converj Concept, a luxury coupe with extended-range electric vehicle technology, is moving forward as a production car that will be called the Cadillac ELR.
A trader works on the floor of the New York Stock Exchange

Stock Index Futures Signal Rebound; Europe Posts Gains

Stock index futures pointed to a slightly higher open on Wall Street on Monday, with futures for the S&P 500 up 0.61 percent, Dow Jones futures up 0.55 percent and Nasdaq 100 futures up 0.73 percent at 3:44 a.m. EDT.
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Chinese Leaders Warn of Euro Crisis Black Death

The Black Death of the debt crisis across the euro zone will hurt China's exports, although Beijing's relatively small holdings of euro assets will limit damage to foreign exchange reserves, the nation's top official newspaper said on Monday.
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Brent Crude, U.S. Oil Fall on Hopes of Libya Flow

Brent crude dropped more than $3 on Monday to below $106 a barrel, while U.S. oil fell more than a dollar to below $82, on the potential for a resumption of exports from OPEC-member Libya as a six-month civil war there appeared close to an end.
Brent crude rises above $118 on spread buying

Brent Crude Drops by $2 on Libya Hopes

Brent crude dropped by more than $2 on Monday to around $106 a barrel on the potential for a resumption of exports from OPEC member Libya as a six-month civil war there appeared close to an end.

Asian Stocks Rebound; Gold Hits $1,878

Asian stocks turned positive on Monday, recovering a small portion of last week's steep losses, while gold shot to new highs as investors worried about the sluggish U.S. economic outlook and Europe's debt crisis.
Market Woes.

Layoffs Sweep Wall Street, Along with Low Morale

In early summer, before layoffs began sweeping across Wall Street, billboard-sized photos of employees were plastered on the walls, pillars and elevator banks of Credit Suisse Group AG's offices in the United States and abroad.
Stock Market

U.S. Stock Market: Who Has the Upper Hand Now - Bulls or Bears?

To say it's been a discomforting summer for U.S. stock investors would be an understatement. The Dow has been on a wild ride, with large market drops followed by sudden reversals. Look for market choppiness to continue until investors determine whether the Fed's latest monetary policy decision will be enough to rev-up U.S. GDP growth.

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