Economics,Politics
Economy improving, Operation Twist may not be extended -Bullard
09.11.2012 11:59
(Reuters) - The economy is strengthening but leaders must tackle a looming "fiscal cliff," a top Federal Reserve official said on Thursday, adding that he doubted the central bank would extend a bond maturity extension program that expires at end-2012.
"It is of critical importance...
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Will London Lose Power to a Euro Bank Bloc?
09.11.2012 11:55
Bbusinessweek: In what would be the first step toward a European banking union, the European Central Bank will become the main regulator for the biggest banks in the 17 nations that use the euro as their currency as soon as Jan. 1. Britain, a member of the European Union, chose not to join...
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The Brutal Arithmetic of the Budget Deficit
09.11.2012 11:53
Businessweek: Right now, U.S. citizens are paying $2.4 trillion for their government. That’s what federal revenue added up to this year, according to the Congressional Budget Office. Some 46 percent of that total comes from individual income taxes, 35 percent from payroll taxes...
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A Banner Year for Government Bonds
09.11.2012 11:52
Businessweek: For the first time since the financial crisis in 2008, all 26 government bond markets tracked by Bloomberg and the European Federation of Financial Analysts Societies are poised to deliver a winning year. Chalk it up to a government bond-buying blitz by major central banks and...
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Cyprus Bailout Hits Snag Over Russian Mob Allegations
09.11.2012 11:50
Businessweek: Cyprus, on the eve of planned talks over a bailout from its European neighbors, has run into a potentially serious glitch: A report alleging that the bailout would aid “Russian oligarchs, businessmen, and mafiosi who have invested their illegal money” in Cypriot...
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In Europe, Putting the Adventure Into Venture Capital
09.11.2012 11:49
Businessweek The life of a European venture capitalist is usually pretty civilized, punctuated by trips to the converted warehouses of London’s trendy Silicon Roundabout neighborhood or Berlin’s stately Prenzlauer Berg district, where entrepreneurs swap ideas in Vietnamese restaurants and...
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Prudential Records $618 Million Loss on Derivatives
09.11.2012 11:46
Bloomberg: Prudential Financial Inc. (PRU), the second-largest U.S. life insurer, swung to a loss in the third quarter as derivatives weighed on results.
The net loss of $618 million compares with a profit of $1.59 billion a year earlier, Newark, New Jersey-based Prudential said today...
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Obama and Boehner’s Bridge Across the Fiscal Cliff
09.11.2012 11:43
Bloomberg: The last time President Barack Obama and House Speaker John Boehner squared off over fiscal problems, they triggered tremendous market volatility, cost the U.S. its AAA credit rating and nearly pushed the government into default.
Voters were so impressed with...
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Wary Banks Risk Crimping Growth in Lending Squeeze: Euro Credit
09.11.2012 11:42
Bloomberg: Europe’s corporate bond market is shrinking as redemptions outstrip issuance, banks borrow and lend less, and companies stockpile cash rather than invest in their businesses.
Banks have sold about 335 billion euros ($427 billion) of bonds in the common currency and pounds this...
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Draghi Relegating Rates Makes OMT Policy Weapon of Choice
09.11.2012 11:39
Bloomberg: Mario Draghi’s bond-buying plan has become the European Central Bank’s weapon of choice to reduce interest rates even before it has been activated.
ECB President Draghi yesterday praised the impact of the so-called OMT program in lowering borrowing costs, while...
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