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EUR/GBP Daily

Euro off day's lows, but heading for weekly losses versus majors as EU woes persist

Euro rose across the board and pulled off 1-1/2-month lows against the US dollar and British pound on Friday on news EU leaders reassured the holders of outstanding bonds that they would not be forced to take losses. The day's gains, however, did not prevent the single currency from heading for weekly losses versus the majors as investors are still worried that Ireland may default on its bonds.
Bank of Japan Headquarters, Tokyo

Japan, EU agree to launch free trade talks

Japan will start free trade talks with the European Union next spring, alarmed by the head start made by its main manufacturing rival in Asia, South Korea, which signed a pact with the European bloc last month.
An undated handout photograph of Ranbaxy Laboratories' plant in Paonta Sahib, Himachal Pradesh.

India's Ranbaxy Q3 net profit jumps

Ranbaxy Laboratories Limited (RLL), India's largest pharmaceutical company, said on Thursday its consolidated net profit stood at 3.13 billion rupees ($67 million) for the third quarter ended September 30, 2010, as compared to 1.16 billion rupees ($24 million) in the same period a year earlier.
Angel Gurria, Secretary- General of the Organization for Economic Cooperation and Development

Resist protectionism, group says

Angel Gurria, Secretary- General of the Organization for Economic Cooperation and Development, an organization consulted by the nations of the world, including most of the nations of the G-20, put the very complex matter of what the G-20 is attempting to do at its summit in Seoul this week, in simple and precise terms.
Wind turbines are seen at Thanet Offshore Wind Farm off the Kent coast in southern England September 23, 2010.

Vestas CEO wants an hour with G20 leaders

The CEO of Vestas, a major supplier of wind turbines, is asking for heads of state to meet for an hour to help come up with methods of weaning the world from fossil fuels.
A U.S. and a Chinese flag flutter in front of Tiananmen Gate in Beijing

China not too happy with Fed's QE2

China is not too pleased with America's plan to inject more capital into its economy in the form of a second round of quantitative easing.
Japanese 10,000 yen notes are spread out at Interbank Inc. money exchange in Tokyo

BOJ intervention: will it work?

Analysts generally think BOJ's intervention was well executed and will perhaps work in the short-run. The long-term effectiveness, however, is uncertain.
Elderly people visit a public garden in Tokyo

Why Japan 'allowed' deflation

To some degree, Japan allowed deflation, or at least they did not choose extremely aggressive policies to fight it. This is largely due to the influence of Japanese constituents who own fixed income, which would devalue in the face of inflation.
Huang Rixin, 78-year-old retired Chindese electronics engineer

China's aging population and its implications

China will have an aging population problem comparable to that of Japan and Western Europe in 30 years or so with perhaps important implications for elderly care and manufacturing.
A French High Speed Train (TGV) arrives at Marseille's railway station during a national strike.

U.S. high-speed railway: a matter of cost and demand

The federal government has committed at least $8-billion (and counting) for the development of a nationwide high-speed intercity passenger railway system in almost three-dozen states. Rail advocates have long dreamed of an extensive railway grid that will provide clean, speedy, energy-efficient travel.

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