Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Aug 04, 2011 (2)

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Aug 4, 2011

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Aug 04, 2011 (2)


Stocks Take Nose Dive On Economic Fears
NPR
Investors are increasingly worried about economic weakness in the US and a debt crisis in Europe. "We are continuing to be bombarded by worries about the global economy," said Bill Stone, chiefinvestment strategist at PNC Financial. ...
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Stocks plunge as economic, Europe worries continue
Forbes
By DAVID K. RANDALL , 08.04.11, 03:38 PM EDT The stock market is in the midst of its biggest retreat since the financial crisis. The Dow Jones industrial average plunged as many as 440 points Thursday afternoon. It is now down more than 1200 points ...
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Treasury Yields Evoke Eisenhower Era as Growth Stalls
Bloomberg
The yield, which dropped to as low as 2.46 percent today in New York, reached a record low of 2.04 percent in December 2008 during the global financial crisis. Investors are piling into Treasuries after the European Central Bank resumed bond purchases ...
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AT A GLANCE: Financial Markets Reel Amid Growth, Debt Fears
Wall Street Journal
THE EVENT: Concerns about dismal economic growth prospects, the sovereign debt crisis in Europe and the inability of officials around the globe to craft solutions to those problems sparked big losses on financial markets Thursday. US stocks were at ...
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Perfect Storm of Terrible News Sends Dow Plunging 300 Points
The Atlantic
Peter Schroeder at The Hill notes that the Dow "has lost more points in the last two weeks than it did after the House initially failed to approve a bailout of US banks at the height of the financial crisis in 2008." In another rocky day on Wall Street ...
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Japan Follows Switzerland in Intervening to Stem Currency's Appreciation
Bloomberg
In Europe, policy makers have failed to contain a crisis that's required a second bailout of Greece. Spanish and Italian 10-year government bond yields reached euro-area record levels this week on concern that increasing debt-servicing costs and ...
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Indonesia Growth Spurs World's Priciest Stocks as BRICs Retreat
BusinessWeek
Faster growth and lower inflation spurred Standard & Poor's and Fitch Ratings to say this year they may give President Susilo Bambang Yudhoyono's government an investment grade credit grade for the first time since the Asian financial crisis in 1997. ...
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Even after default scare, US Treasuries remain safest
Reuters
... according to Bank of America Merrill Lynch Fixed Income Index data. The longbond's rally over the past four sessions produced a total return of 6.3 percent, its best such streak since the trailing days of the financial crisis in December 2008. ...
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Reuters
Canadian investors in for rough ride, says economist
Global Saskatoon
The volatile market has unnerved investors in Canada and around the world. To address some of their concerns, Global News spoke to Martin Schwerdtfeger, senior economist at TD Bank FinancialGroup. Stock markets tumbled Thursday. ...
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Bank of New York sets precedent for charging interest on clients for owning cash
Examiner.com
Now that a new global credit crisis is rising in Europe and the US once again, the need forinvestment banks to get people into, or remain holders of equities is imperative as signs of a market selloff raise questions on the solvency of the global ...
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Newspaper Briefing, including 'FTSE 100 led European shares down on US ...
Proactive Investors UK
The US economy is also flat lining, with slower growth now expected - confidence in the country evaporated overnight and a frantic hour of trading on Wall Street sent the Dow Jones Industrial Average on its worst run since the financial crisis, ...
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Austerity Top Priority As Economy Sputters, Americans Suffer
Huffington Post
From the Wall Street perspective, "inflation is a huge risk," said Troy Davig, US economist at Barclays Capital, the British investment bank. That's because inflation erodes the value of bonds. "It's implicitly defaulting on the debt," he said. ...
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COVER STORY
FM.co.za
Paul Hansen, Stanlib head of retail investing, says an increasing number of Liberty agents and Standard Bank financial planners are repatriating their clients' offshore portfolios. “They've had enough of the complaints from clients about the way the ...
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Debt wrangling: Your guide to economic chaos
Sydney Morning Herald
Photo: Reuters How could this be? Aren't we just recovering now from the global financial crisis, you ask? In the financial crisis of 2008 it was the banks which had all the debt, and the governments which bailed them out. Fast forward three years and...
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Sydney Morning Herald
European Shares in recovery as market awaits bank's policy
Business Daily Africa
The price of gold, viewed as a safe haven investment in troubled economic times, traded at $1663 an ounce on the London Bullion Market, off Wednesday's record high. “Financial markets on Wednesday continued to be rocked by a perfect storm of poor...
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Business Daily Africa
G20, central banks may have to step in again
Montreal Gazette
By ANDREW TORCHIA and PAUL CARREL, Reuters August 4, 2011 With financial markets in turmoil and economic growth slowing, policy-makers around the world may once again be forced to co-operate to try to head off a crisis, as they did successfully in ...
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US Stocks Plunge As Recession Fears Spur Broad Selloff
Wall Street Journal
The bank cited the massive dollar deposits it has received over recent weeks, as investors and corporations retreat from financial markets amid Europe's debt crisis and the recent debate over US government borrowing. Investors fled to US Treasurys, ...
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The impossible job creation dream
Salon
Such an outcome would be resisted by America's financial elite and its professional elite, including liberal professionals. But both of these economic elites are much too big to be sustained by a slow-growing US and world economy. ...
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Salon
updatedTSX erases 10 months of gains
CBC.ca
Bank of New York clients include pension funds and large investment houses. "Investors are deciding that now is the time to take risk off the table," said Brian Gendreau, market strategist for Cetera Financial Group. On Wednesday, the Swiss National ...
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CBC.ca
SA well placed to weather external shocks
Independent Online
However, this scenario - essentially a reprise of the 2008 financial crisis, which knocked 39 percent off the value of the rand - is far from certain given the growing view that risks in established markets may be just as high as in emerging ones. ...
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Independent Online
Search on For Safe Investment Ports in Crisis
IBTimes Hong Kong
By Jeremy Gaunt, European Investment Correspondent | August 4, 2011 9:04 PM HKT The globaleconomy is more sluggish than first thought, government bonds offer no real return, gold is super expensive and stock markets sell off at the slightest setback. ...
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Analysis: Crackdown on bank risk leaves "black box" empty
IBTimes Hong Kong
At the same time, financial watchdogs are putting an end to the behind-closed-doors trading of derivatives, a practice that earned itself a bad reputation in the credit crisis, when arcane derivatives blew up without forewarning. ...
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