Latest World Markets News
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Men are disappearing from the U.S. workforce
In the 1950s, nearly every man in his prime working years was in the labor force, a category that includes both those who are employed and those actively applying for jobs. The "participation rate" for men ages 25 to 54 stood at 97.7% in early 1956, but drifted downward to a post-war record low of 88.4% at the end of 2012. (It ticked up very slightly at the start of this year to ...
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Ex-Fed Governor Meyer Obama has fired Bernanke
are telling for Bernanke's future at the Fed, said Former Federal Reserve Governor Laurence Meyer in an interview on CNBC Tuesday. "He essentially fired Ben Bernanke on the spot and gave him a fairly tepid testimonial afterward. It's time to really now focus on who the next chairman might be," said Meyer, who was a Fed governor from 1996 to 2002. Later in the interview, Meyer ...
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HSBC cuts China growth view for 2013 2014
MADRID (MarketWatch) -- HSBC on Wednesday cut its growth forecasts for China, citing faster reform moves that could hurt growth, along with weaker-than-expected data flows. Qu Hongbin, chief economist for China at HSBC, said their 2013 and 2014 gross domestic product views now stand at 7.4%, versus prior forecasts of 8.2% and 8.4%, respectively. Consensus is calling for China growth of 7.8% in ...
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Wall Streets lawfare strategy against regulation | Heidi Moore
already weakened state of the attempt at financial regulation - like taking a hammer to a housefly. Still, a phalanx of injured parties - 11 states, two groups dedicated to conservative economic agendas and one Texas state bank - argued that Dodd-Frank is unconstitutional. Their complaints all center around the part of Dodd-Frank that wants to solve the problem of "too big to fail" by ...
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Wall Street betting on last-minute debt deal
With no political deal in Washington on raising the U.S. debt limit just days before a crucial deadline, investors are increasingly worried about a downgrade of the country's top-notch credit rating, or even an actual governmnent debt default. The U.S. Treasury Department has said the Congress must act before Aug.2 to avoid a catostropic default. With the dealine drawing close ...
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No NSA Spying Did NOT Prevent a Terror Attack on Wall Street
June 19, 2013 In response to the revelation that the NSA has been illegally spying on all Americans for more than a decade, NSA chief General Keith Alexander claimed that the spying prevented a terrorist attack on Wall Street and the New York subway. There's only one problem: the claim is completely false. The Christian Science ...
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Telkom misled into staying in Nigeria
Telkom alleges Thami Msimango breached his fiduciary responsibilities while at the helm of the global operations. Telkom would have pulled out of its loss-making Nigerian operation three years earlier, had it not been misled into signing a 10-year deal that it thought would bolster revenue, the telco argues in court papers. Telkom and its former subsidiary, Multi-Links, are suing three ...
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Standard Bank restructures IT roles
Standard Bank has denied reports it will retrench 148 IT employees, saying IT roles are simply being restructured. Standard Bank has denied reports it will lay off 148 people in its IT department, saying it is merely restructuring the 148 roles within its IT operations. Spokesperson Erik Larsen says while 148 IT roles will be affected, the bank will try to accommodate as many employees as ...
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COMMENT Poor prospects for Swiss bonds as rates rise - UBS
By Jon Penner Wed Jun 19, 2013 6:36am EDT LONDON, June 19 (IFR) - Top-rated Swiss-franc denominated long-term bonds could suffer the most severe losses if interest rates rise, according to a note from UBS Wealth Management this week, which recommended that investors instead seek exposure to higher yielding paper and covered bonds. The report, entitled Long-Term Sells, explores the consequences ...
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CBB monthly Islamic leasing bonds oversubscribed by 135
Manama: June 19 -- (BNA)-- The Central Bank of Bahrain (CBB) announced yesterday (Tuesday: 18 June 2013) that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al-Ijara, had been subscribed by 135%. Subscriptions worth BD27 million were received for the BD20 million bonds' issue which carries a maturity of 182 days. The expected return on the issue, which begins on 20 ...
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Qatar introduces bonds for trading in its market
Qatar Exchange has announced the introduction of government bonds issued by the Qatar Central Bank for trading on the exchange, which will commence on 20 June 2013, in a step that supports the development of the financial market in the State of Qatar on the one hand and diversification of investment tools available for banks, institutions and investors on the other.The trading of government ...
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I will graduate with $100000 in loans
student loans, as interest rates are set to double to 6.8% from 3.4% on July 1. "It just seems to be a part of the growing American experience to go to school, graduate and work off that debt for the rest of your life," Mears ...
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PH stock index dips as markets wait for US Federal Reserve meeting on bond-buying
Screengrab from http://www.pse.com.ph MANILA, Philippines -- The local stock barometer dipped on Wednesday after a three-day rebound as regional markets awaited clues on US monetary policy from an ongoing US Federal Reserve meeting. The main-share Philippine Stock Exchange index shed 5.57 points or 0.09 percent to close at 6,513.20. Mining/oil and property counters saw the steepest drop for ...
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World markets mostly down as investors eye Fed
A worker stretches on a chair during a morning trading at the Tokyo Stock Exchange in Tokyo Monday, June 17, 2013. Asian stocks edged up Monday amid hopes that the U.S. Federal Reserve will put off plans to wind down its stimulus program. Tokyo's Nikkei 225, the regional heavyweight, jumped 2.2 percent to 12,960.81, extending Friday's 2.4 percent gain. (AP Photo/Koji ...
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Unlock power of information in insurance
There are three indisputable facts about the insurance industry. Firstly, it's a $4.3 trillion global business with premium revenues in emerging economies, growing at 11% year-on-year. Secondly, the World Insurance Report 2012 states that cost and efficiency are the critical levers of performance in the insurance industry today. And third, business agility, operational efficiencies and ...
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Stocks Investors hold their breath for Bernanke
Federal Reserve chairman Ben Bernanke takes center stage Wednesday at a highly anticipated press conference at which he is expected to discuss when the central bank could begin tapering the pace of ...
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Acer expects flat tablet notebook shipments
Acer, the world's number four PC vendor, said yesterday that it expects notebook and tablet PC shipments to be flat in the second quarter from the first quarter, versus a prediction of 0-5% growth made in April. Acer chairman JT Wang made the comment to reporters at the firm's annual shareholder ...
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Creative Cloud boosts Adobe
Adobe Systems, which makes the Photoshop and Acrobat software, reported a higher-than-expected adjusted quarterly profit as demand rose for Creative Cloud, the subscription-based version of its flagship software package. Shares of the company rose 4.4% in after-market trading. They closed at $43.36 on the Nasdaq on Tuesday. Adobe has been shifting to Web-based subscription service Creative ...
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Huawei denies Nokia buyout
Chinese network equipment and cellphone maker Huawei Technologies said it "has no plans to acquire Nokia", responding to a Financial Times (FT) report that it would consider buying the Finish phone maker. The denial came from Huawei's VP for external affairs, Bill ...
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Kodak preps $406m offering
Eastman Kodak will seek court approval for a $406 million rights offering that could give creditors a big equity stake in the company after it emerges from Chapter 11 bankruptcy protection. Kodak said creditors agreed to backstop an offering that would let the New York-based company issue 34million common shares at $11.94 each, equal to about 85% of the equity of a reorganised ...
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One million advertisers use Facebook
Facebook said on Tuesday it now has one million active advertisers globally who used the platform in the last 28 days, a milestone for the company that is seeking to revive its revenue growth. A vast majority of those advertisers are small business owners who have flocked to the world's number one social network. Facebook executives are hoping to net even more small advertisers since 16 ...
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10 Chinese dream jobs
Research firm Universum surveys university students in China each year to see where they most want to work. These are the top 10 dream employers for humanities, liberal arts and education ...
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HM profit falls more than expected
+1.02% on Wednesday reported a bigger-than-expected fall in profit, but noted a strong start for sales in June and also announced plans to expand its online marketplace. Second-quarter net profit fell to 4.66 billion Swedish kronor ($723.14 million) from SEK5.22 billion a year earlier. A survey of analysts polled by Dow Jones Newswires had forecast a net profit of SEK4.88 billion. Sales ...
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European stocks wobble as Fed statement near
LONDON (MarketWatch) -- European stock markets showed mixed moves at the open on Wednesday, with what is likely to be a volatile day ahead as investors wait for the much anticipated monetary-policy decision from the U.S. Federal Reserve. A statement from the Fed meeting is expected after the European markets close, followed by a press conference by Chairman Ben Bernanke. The Stoxx Europe 600 ...
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Currencies with Bert Antonik
Having recently taught classes in Hong King, Singapore and Jakarta, Bert shares some of his thoughts on the current market action. Bert and Merlin take a look at several currency pairs including the Euro, Yen, and Aussie dollar. All of these currencies are approaching very interesting supply and demand zones. Watch Bert and Merlin map them out and give you some potential trading ideas! Click on ...
Kyrgyzstan Featured
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Kyrgyzstan must stick to long-term development plans
While news of the political unrest and government change in early 2010 dominates the world headlines, Kyrgyzstan faces an uncertain future as long-term plans for infrastructure development are thrown into disarray and uncertainty.
Kyrgyzstan is one of the poorest countries in Central Asia and stands to benefit greatly from long-term development plans initiated under the auspices of the Central Asian Regional Economic Cooperation (CAREC) Program, if the interim government can move on from the current political crisis and stabilize the country’s economy and political future. Read more
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