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Sep 7, 2011

BLOOMBERG News, Sep 07, 2011


Panetta tours New York's 9/11 memorial
Washington Post
(Susan Walsh/AP) - New York City Mayor Michael Bloomberg, right, shows Defense Secretary Leon Panetta the 9/11 Memorial. By Greg Jaffe, Amid blustery winds and driving rain, Defense Secretary Leon E. Panetta toured the 9/11 Memorial in New York on ...
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September 11 Memorial to replace 'Ground Zero' officially?
Christian Science Monitor
New York City Mayor Michael Bloomberg says 'stop calling it Ground Zero.' September 11 name change: A test of the Tribute in Light rises above lower Manhattan, Tuesday, in New York. Mayor Bloomberg is asking that people stop calling the 16 acre area ...
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Christian Science Monitor
China's Stocks Advance for First Time in Week on Policy Easing Speculation
Bloomberg
By Bloomberg News - Wed Sep 07 05:43:23 GMT 2011 Chinese stocks rose the most in two weeks as the China Securities Journal said the central bank may ease monetary policy, Greece pledged to speed up austerity measures and US service industries ...
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Asia Stocks Rebound on Weakening Yen, Valuations; Aussie, Copper Advance
Bloomberg
7 (Bloomberg) -- Arjuna Mahendran, Asian head of investment strategy at HSBC Private Bank in Singapore, talks about global financial markets and economies. Mahendran, who also discusses the Swiss National Bank's decision to cap the franc's rate for the ...
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Gold May Decline for a Second Day After Rally to Record Encourages Sales
Bloomberg
7 (Bloomberg) -- Pu Yonghao, chief investment strategist at UBS Wealth Management in Hong Kong, talks about factors influencing global financial markets and his investment strategy. Pu speaks with Susan Li, Angie Lau and John Dawson on Bloomberg ...
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Apple Bears Depart on Jobs Resignation
Bloomberg
Photographer: Chris Ratcliffe/Bloomberg Prices to insure Apple Inc. (AAPL) shares from losses dropped to a one-year low after Steve Jobs, who presided over a 91-fold increase in the stock, stepped down as chief executive officer. ...
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Apple iPhone 5 Preorders in Germany: Report
eWeek
Apple's iPhone 5 is apparently on preorder in Germany, according to Bloomberg. However, details about the device are still unforthcoming. T-Mobile parent company Deutsche Telekom AG is allowing customers to preorder the iPhone 5, according to Bloomberg ...
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Asia Dragged Down by Europe's Crisis Forced to Hold Rates as Prices Climb
Bloomberg
Photographer: Goh Seng Chong/Bloomberg Sept. 6 (Bloomberg) -- World Bank President Robert Zoellick indicates that risks to the global economy are intensifying, with the euro region's outlook dependent on European leaders making the right decisions. ...
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Australia Economy Grew More Than Estimated
Bloomberg
Photographer: Sergio Dionisio/Bloomberg Sept. 7 (Bloomberg) -- Shane Oliver, the Sydney-based head of investment strategy at AMP Capital Investors Ltd., talks about Australia's economy and central bank monetary policy. Australia's economy expanded more ...
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European Stocks Rebound From Two-Year Low
Bloomberg
Photographer: Hannelore Foerster/Bloomberg European stocks rose, rebounding from a two-year low, after three days of losses dragged the Stoxx Europe 600 Index near to the cheapest valuation since 2008. Asian shares and US index futures advanced. Cie. ...
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Wells Fargo, Schneider Go From First to Worst
Bloomberg
By Allison Bennett - Tue Sep 06 22:32:56 GMT 2011 Switzerland's currency is the best performer this year among a basket of 10-developed market currencies, appreciating 4.7 percent, BloombergCorrelation-Weighted Currency Indexes show. ...
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Bloomberg blames illegal guns for post-parade shootings that leave 3 dead, 2 ...
Washington Post
Mayor Michael Bloomberg blamed illegal handguns for a post-parade exchange Monday night between police and a gunman. The shooting left the gunman's target and a bystander dead and the gunman gravely wounded, police said Tuesday. ...
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Lockheed Sells $2 Billion of Bonds
Bloomberg
Lockheed issued $500 million of 2.125 percent bonds due in 2016 that yield 127 basis points more than similar-maturity Treasuries, according to data compiled by Bloomberg. A $900 million portion of 3.35 percent, 10-year debt pays a spread of 142 basis ...
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Bank of America's Shakeup May Put Montag in Contention for CEO Succession
Bloomberg
Photographer: Davis Turner/Bloomberg Thomas "Monty" Montag, co-chief operating officer of Bank of America Corp. Thomas "Monty" Montag, co-chief operating officer of Bank of America Corp. Photographer: Jonathan Fickies/Bloomberg Bank of America Corp. ...
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Sprint, BofA, News Corp., Citigroup, AOL, GM in Court News
San Francisco Chronicle
7 (Bloomberg) -- Sprint Nextel Corp. sued to stop AT&T Inc.'s proposed $39 billion acquisition of wireless carrier T-Mobile USA Inc. less than a week after the US moved to halt the transaction. Sprint, the third-biggest US wireless operator, ...
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Deficit-Struck California Outperforms Amid Debt-Sale Freeze: Muni Credit
Bloomberg
California debt yields about 1.31 percentage points more than top-rated municipal debt, compared with a peak yield spread this year of 1.47 percentage points in June, according to Bloomberg data. “Bringing this size could disrupt some of the spreads,” ...
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Foie Gras Lovers in California Fall Victim to Rights of Ducks
Bloomberg
Photographer: Kevin Thrash/Bloomberg Chef Gary Danko, sears a thick slice of duck liver in the kitchen at Restaurant Gary Danko, in San Francisco. Chef Gary Danko, sears a thick slice of duck liver in the kitchen at Restaurant Gary Danko, ...
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CEOs Cutting Estimates Fall 38% With Cheapest S&P 500 Since '85
San Francisco Chronicle
6 (Bloomberg) -- The number of chief executive officers cutting profit forecasts fell 38 percent below average last month, even as the slowing economy pushed valuations to the lowest level at the start of September since 1985. ...
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The Goldsmith Fiasco
New York Observer
By The Editors 9/06 9:11pm Mayor Bloomberg should have played it straight when he learned that Stephen Goldsmith, a trusted deputy, had been arrested on domestic violence charges in late July. Instead, the mayor issued a bland statement announcing Mr. ...
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NYC's Liu Keeps $32 Million in Pension Costs Secret as Openness Has Limits
Bloomberg
Bloomberg News had requested details of the expenses. Private-equity firms, which pool money from investors to buy companies, fix them and sell them for a profit, have sought to keep their business models hidden, even when working for pension funds ...
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Mortgage Claims by U.S. Impede Recovery, Must Be Halted, FBR's Miller Says
Bloomberg
2 (Bloomberg) -- Neil Barofsky, former special inspector general for the Troubled Asset Relief Program and a Bloomberg Television contributing editor, talks about a New York Times report that says the Federal Housing Finance Agency will file a lawsuit ...
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DSS to Participate on the Bloomberg Markets Spotlight Virtual Platform
MarketWatch (press release)
6, 2011 /PRNewswire via COMTEX/ -- DSS (Document Security Systems Inc.) (nyse/amex:DSS) announced today that Patrick White, Chief Executive Officer will participate on the BloombergMarkets Spotlight virtual platform, which launched September 1, 2011. ...
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Nippon Yusen Takes Advantage of Bond Rates at Eight-Year Low: Japan Credit
Bloomberg
Source: Nippon Yusen KK via Bloomberg Nippon Yusen KK is taking advantage of falling government note yields and a void in corporate debt sales to borrow at the lowest rate in eight years even as global trade growth slows. The second-largest listed ...
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Stock-Index Futures Drop in Europe, U.S. on Debt Crisis; Asian Shares Fall
Bloomberg
Photographer: Jason Alden/Bloomberg Sept. 6 (Bloomberg) -- Richard Turnill, a portfolio manager at Blackrock Investment Management, discusses global equity markets and the "political crisis" in the euro region. He talks with Francine Lacqua on ...
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Solarworld Rejects Takeover Approaches as Prices Too Low
San Francisco Chronicle
6 (Bloomberg) -- Solarworld AG, the biggest German maker of solar modules, has rejected several approaches over takeovers and mergers as the suggested prices were too low. The company has received inquiries "several times," Chief Executive Officer ...
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Mercedes Envy of BMW Profits Prompts Expansion
Bloomberg
Source: Daimler AG via Bloomberg Daimler AG (DAI)'s Mercedes-Benz plans to expand its lineup of high-end luxury cars and sport-utility vehicles in an effort to surpass Bayerische Motoren Werke AG (BMW)'s record profit. Mercedes will add variations of ...
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Wren Expects More Earnings Downgrades for Financials
Washington Post
Sept. 6 (Bloomberg) -- Scott Wren, senior equity strategist at Wells Fargo Advisors, talks about the outlook for the financial industry and US markets. Wren speaks with Betty Liu and Jon Erlichman onBloomberg Television's "In the Loop. ...
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Medco Bulls Stuck With Losses Even On Takeover
Bloomberg
Photographer: Emile Wamsteker/Bloomberg Medco Health Solutions Inc. (MHS)'s most- bullish investors will be stuck with losses even if Express Scripts Inc. (ESRX) wins government approval for its $31.6 billion acquisition of the pharmacy-benefits ...
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Berlusconi Cabinet Will Call for Confidence Vote on Revised Austerity Plan
Bloomberg
7 (Bloomberg) -- Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets, talks about the Italian economy and Prime Minister Silvio Berlusconi's revised 45.5 billion-euro ($63.7 billion) austerity package. He speaks from Brussels with ...
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Pandit 'Globality' Goal Imperiled as Citigroup Sees Slower Economic Growth
Bloomberg
Net income may be $10.8 billion, 31 percent less than the $15.7 billion average estimate of analysts surveyed by Bloomberg, Peabody said. “Their operating margins, their efficiency ratios, are probably going to deteriorate in the short run because they ...
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Blogs15 new results for BLOOMBERG News,
Bloomberg TV economics editor reflects on ... - Talking Biz News
By Chris Roush
11, McKee, who was then covering the economy for Bloomberg News, was in a cab headed to National Association for Business Economics conference at the World Trade Center. McKee was on a pay phone on West Street, across from the ...
Talking Biz News
MJ Internship Experience at Bloomberg | Journalism and Media ...
By Angharad Law
Maha Shah (MJ 2011) recently completed a summer internship at Bloomberg TV in Hong Kong. Maha Shah (MJ 2011). Shah worked on the News Desk. Bloomberg TV Hong Kong is the head quarters for the Asia Pacific region. Shah wrote ...
Journalism and Media Studies...
MonitorDaily - News – Bloomberg: GE's Immelt Aims to Beat S&P ...
By lisagoetz
Bloomberg: GE's Immelt Aims to Beat S&P Profit Growth. Published September 6, 2011. Categories: Featured News, GE Capital. Bloomberg reports that a key goal of GE's chairman and CEO Jeffrey Immelt is to grow his company's profits to ...
MonitorDaily
Bloomberg blames guns for violence after parade | The Associated ...
By The Associated Press
Mayor Michael Bloomberg on Tuesday blamed illegal handguns for a shooting that killed three people and wounded two police officers a few blocks from the route of the annual West Indian Day Parade in Brooklyn, saying federal officials have ...
Examiner AP RSS
Bloomberg Hails Lower Manhattan's Revival Since 9/11 | News 24 ...
By ULA ILNYTZKY AP NEW YORK — John Coburn went to ground zero days after the Sept. 11 attacks and began sketching, moved by the acts of "love and care&qu.
News 24 hour
Australians paying more for solar: Bloomberg | Energy Business News
By lcolquhoun
Solar panels have cost 37 percent more in Australia than in Germany and the US as a result of generous state government subsidies pushing up prices, according to Bloomberg New Energy Finance. The Bloomberg research unit said that ...
Energy Business News
Breakfast Briefing with Bloomberg | Gorkana - the media database ...
By carol
Our next breakfast briefing will be with leading global business news provider Bloomberg News and Media Group on Tuesday 06 September. The Bloomberg Media.
Gorkana - the media database...
Sunoco Exits Refining, Begins Strategic Review – Bloomberg | PA ...
By Pennsylvania News
RTT News · Sunoco Exits Refining, Begins Strategic Review Bloomberg Sunoco Inc.'s Philadelphia Refinery stands on the banks of the Schuylkill River in Philadelphia, Pennsylvania. Sunoco Inc.'s Philadelphia Refinery stands on the banks of ...
PA Blog - Pennsylvania News Headlines...
Asia Stocks Climb on Yen, Valuations; Aussie, Copper Advance ...
By Google Inc.
7 (Bloomberg) -- Arjuna Mahendran, Asian head of investment strategy at HSBC Private Bank in Singapore, talks about global financial markets and economies. Mahendran, who also ... 2011 Wall Street Financial News. All Rights Reserved. ...
Wall Street Financial News
Bloomberg: GE's Immelt Aims to Beat S&P ... - World Leasing News
By contactdesign
Bloomberg: GE's Immelt Aims to Beat S&P Profit Growth. Jeffrey Immelt, saying he holds few regrets after leading General Electric Co. (GE) in 10 years bracketed by terrorism and a nuclear meltdown, predicts a payoff through 2013 as ...
World Leasing News
The Yeshiva World New York Times Columnist Blasts Bloomberg ...
By Y.W. Editor
It is hardly a surprise, then, that the mayor's approval rating has sunk. In a Times/CBS News poll last month, it fell to 45 percent, its lowest level in six years. With his smooth handling of Tropical Storm Irene, Mr. Bloomberg seemed to be getting ...
Yeshiva World News
Bloomberg blames guns for violence after ... - Washington Examiner
By The Associated Press
Some city residents wondered Tuesday if it's time to pull the plug on the gaudy West Indian Day parade, scarred by violence repeatedly in the last few years, after two people were killed in a wild police shootout just blocks from its route.
Examiner AP RSS
Pharmalot… Pharmalittle… Good Morning // Pharmalot
By Ed Silverman
Roche Pays $10M To Evotec For Experimental Alzheimer's Med (Bloomberg News). Biogen Reclaims Joint Ventures In ... New Hampshire Allows Pharmacists To Give More Vaccinations (Bloomberg News). Pfizer Superfund Site Breached By ...
Pharmalot
Weekend Shootings In NY City Prove Bloomberg's Gun Control ...
By AmmoLand
46 [ABC now Reporting 67 including Two Policemen] people were shot in New York City over the Labor Day weekend, prompting the Citizens Committee for the Right to Keep and Bear Arms to ask Mayor Michael Bloomberg how this could happen... ... Ammoland Social News Check out stories you may like, and see what your friends are sharing! ...
AmmoLand.com Shooting Sports News
Shan Says James Murdoch to Be Recalled on Contradictions ...
By Bloomberg
Published on Sep 6, 2011 by Bloomberg. Sept. 6 (Bloomberg) -- Niri Shan, head of media law at Taylor Wessing LLP in London, talks about today's hearing in the U.K. House of Commons on phone-hacking allegations at News Corp.'s News ...
Uploads by Bloomberg
U.S. Stock Futures Drop; McDonald's, Home Depot Fall in Europe ...
U.S. stock futures fell before economic reports that may show a decline in residential real- estate prices and a weakening in consumer confidence.
bloomberg.skyhookwireless.com/.../u-s-stock-futures-decline-...
Bloomberg blames guns for violence after parade - Netscape News
Get up-to-the-minute national and international news and headlines.
channels.isp.netscape.com/news/story.jsp?floc=ne...
Breaking News: Bloomberg Orders Mandatory Evacuation For Parts ...
Hurricane Irene Could Affect Millions http://newstop20.info Of People In The U.S. (LIVE UPDATES)
www.youtube.com/watch?v=_sD7Yyh_TbA
Bloomberg blames guns for violence after parade - KWWL.com ...
KWWL.com - News & Weather for Waterloo, Dubuque, Cedar Rapids & Iowa City, Iowa |Bloomberg blames guns for violence after parade. Member Center: ...
www.kwwl.com/.../bloomberg-blames-guns-for-violence-after...
Bloomberg: Deputy Mayor Would Have Been Fired - One News ...
Bloomberg: Deputy Mayor Would Have Been Fired: The official, Stephen Goldsmith, left his position last week. It later emerged that he was arrested.. US on One ...
www.onenewspage.com/.../Bloomberg-Deputy-Mayor-Would...

Surrender the Heart (Surrender to Destiny)Alexander Dictionary of English Idioms: English-FrenchAlexander Dictionary of English Idioms: English-SwedishUnder the SunStealing Jake
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FINANCIAL News, Money, Banks, Economic and Financial Crisis, Sep 07, 2011


Debt crisis: as it happened - September 6, 2011
Telegraph.co.uk
However, he said it will take several weeks to find out how many banks and otherfinancial firms are willing to give Greece easier lending terms. Greece has said that private creditors have to commit to roll over or swap at least 90pc of their Greek ...
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Telegraph.co.uk
Roubini: Slowdown Brings Forward New Crisis
Bloomberg
The economist said another financial crisis “is already manifesting itself” in developed economies. Roubini said if he had large amounts of money to invest, he would “mostly keep it in cash,” especially in dollars, as the US currency tends to ...
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Talk of slowdown causes recession in market confidence
USA Today
Federal Reserve data show that there is an additional $7.3 trillion parked in savings accounts, certificates of deposit and money market funds, up roughly $1 trillion from July 2008, just months before the financial crisis intensified with the fall of ...
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USA Today
The solvency solution for Europe: time to do the unthinkable
Reuters Blogs (blog)
This undermined the ongoing bank recapitalization process as well as the rollover of sovereign debts. In a world of multiple equilibria, confidence and psychology are king. Two, growth. Since July, we have experienced a precipitous slowdown in economic ...
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Reuters Blogs (blog)
The bungled politics of bank bashing
Salon
The gulf separating white wealth from that of other groups is twice as wide as it was in the two decades prior to the financial crisis. "The bursting of the housing market bubble in 2006 and the recession that followed from late 2007 to mid-2009 took a ...
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Salon
Designing a Transfer Union to Save the Euro
Spiegel Online
Instead of seeking a way out of their economic crisis, some poverty-stricken regions might prefer to become permanent subsidy recipients. If we take a close look at thefinancial systems of industrialized nations, the conclusion is simple: The question ...
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Spiegel Online
European share crisis: the perils of financial turbulence are growing
The Guardian (blog)
However, Blackrock says buyers reappeared swifty, suggesting that "downside is limited". Warren Buffett has bought $5bn of Bank of America. Should I buy bankshares, too? Buffet can structure huge deals at times of acute financial stress. ...
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The Guardian (blog)
Probe Into Goldman Widens
Wall Street Journal
Before the financial crisis, banks created financial instruments that allowed investors to bet on or against the US housing market. When the housing market collapsed, state and federal regulators began to focus on whether banks were conflicted in their ...
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Is the world doomed to suffer another Depression?
Telegraph.co.uk
The West is staring into an economic abyss deepened by political paralysis in the US and EU – but Britain must stick to its financial Plan A. Is there any good news? Stock markets are plunging and the banking crisis is back in full swing Photo: GETTY ...
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Telegraph.co.uk
Swiss Open New Round in Currency War
Bloomberg
Citigroup Inc. and Goldman Sachs Group Inc. see the Bank of England restarting bond purchases as early as this week. “The financial and economic crisis has tested the innovative powers of centralbanks,” said MacKinnon, a former UK Treasury official. ...
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George Osborne to stick to austerity plans despite double-dip fears
The Guardian
Recoveries from financial crises were slower and choppier than recoveries from other types of recession, Osborne said, adding: "While we have all had to revise down our short-term expectations over recent weeks, the only people who should be ...
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The Guardian
Buy gilts – or even schools – to boost demand
Financial Times
By Chris Giles An inflation-targeting central bank needs to be flexible. When the wind changes decisively, so should policy. And rarely has a financial and economic storm hit as rapidly as this summer. Where there was a fine balance between a rather ...
See all stories on this topic »'I Lost My Job! As Hard As I Try, Why Can't I Find a Job?'
Huffington Post
This crisis was caused by financial collapse, rooted in massive banking fraud. The financialsystem is our economic motor and when it fails it cannot be revived simply by pouring money on it, any more than a wrecked reactor can be restarted just by ...
See all stories on this topic »Europe's debt crisis grabs investor attention
CNN
While equities are slumping across the board, financial stocks continue to lead the downslide.Banks are highly correlated to the stage of an economic cycle, and their stocks tend to perform poorly during periods of slow to negative growth. ...
See all stories on this topic »European debt problems threaten continent's unity
Chicago Tribune
Even without a bank collapse, Weinberg said, he is concerned about the inability to borrow moneyas banks become increasingly uneasy about the financial system. "Monetary conditions are tight in Euroland. Even though interest rates are low, ...
See all stories on this topic »Nations acting alone cannot fix the economy
CNN (blog)
The G-20 was also adamant in 2009 that future stability required a new global financial regime. David Miles of the Bank of England predicts three more financial crises in the coming two decades. And, if the Bank of England's Andrew Haldane is right ...
See all stories on this topic »More state banks repay TARP funds
Milwaukee Journal Sentinel
Bob Atwell, Nicolet's chief executive, said that while the perception of TARP quickly morphed into a negative one after it was introduced during the financial crisis in 2008, Nicolet used the money for its original mission - to keep lending during ...
See all stories on this topic »Obama's pick to head consumer agency steps under the spotlight
The Hill (blog)
Cordray backers argue that after the financial crisis, a bureau devoted to consumers is needed now more than ever. And given that Republicans largely opposed the CFPB when it was considered under Dodd-Frank, they are skeptical about efforts to reform ...
See all stories on this topic »Bad governance leading to food inflation
PakistanToday.com.pk
It is definitely an alarming situation to come across financial figures about India's profitability in different industrial sectors against those in Pakistan. The recent provisional date published by StateBank of Pakistan told us that the country's ...
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Quantitative easing issues / Central bank officials in leading economies ...
The Daily Yomiuri
However, money loaned by private banks in Japan declined from 472 trillion yen at the end of March 1999 to 419 trillion yen as of the end of July this year. Factors contributing to this include banks with weakened financial strength less willing to ...
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The Daily Yomiuri
Markets rule out interest rate hike in Canada, build in possible cut
Winnipeg Free Press
Porter says if the worst does occur in the form of a second financial crisis and deep recession, theBank of Canada would have little choice but to fully reverse course. That scenario is a possibility, not a probability, he adds. Financial markets are ...
See all stories on this topic »Many Banks Will Not Survive if Forced to Value Sovereign Debt at Market Prices
The Market Oracle
Ackerman believes that the turmoil facing the financial sector is reminiscent of the crisis suffered in 2008 after the collapse of Lehman Brothers, but also believes that European banks are now much better capitalized and less dependent on short-term ...
See all stories on this topic »Fed Action Now
Harvard Crimson
Finally, the Federal Reserve must stop paying interest on bank reserves. This measure was taken during the financial crisis to encourage banks to build reserves, and the policy, which pays banksto keep cash in reserve, is surely a significant ...
See all stories on this topic »Making Way for the Era of Sovereign Default
Business Insider
Why not let overly indebted entities fail; let capitalism do its dirty work, so that the next generation of capitalists can step in and finance the next generation of successful enterprise. The longer — and more strenuously — the central banks and ...
See all stories on this topic »Routinized economic crisis
Korea Times
The recurring US economic crisis is bad news for the rest of the world, especially for Korea with industries heavily dependent on exports and financial markets swayed by foreign capital. A more ominous threat for the Korean economy comes from Europe, ...
See all stories on this topic »Yields Drop as Europe to Damp Slowest Growth in 20 Years: Australia Credit
Bloomberg
Deutsche Bank AG Chief Executive Officer Josef Ackermann said on Sept. 5 that conditions in the stock and bond markets are reminiscent of the financial crisis of late 2008. “The 'new normal' is characterized by volatility and uncertainty -- not only in ...
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Surrender the Heart (Surrender to Destiny)Alexander Dictionary of English Idioms: English-FrenchAlexander Dictionary of English Idioms: English-SwedishUnder the SunStealing Jake
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