10 Apr 2011

UK to sue Iceland over lost billions, official says

“An increasingly bitter dispute between the United Kingdom and Iceland over billions of dollars lost when banks collapsed is likely to end up in court, a top British government minister said Sunday. The British government has ‘an obligation to get that money back, and we will continue to pursue that

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31 Mar 2011

Wal-Mart CEO Bill Simon expects inflation

“The world’s largest retailer is working with suppliers to minimize the effect of cost increases and believes its low-cost business model will position it better than its competitors. Still, inflation is ‘going to be serious,’ Wal-Mart U.S. CEO Bill Simon said during a meeting with USA TODAY’s editorial board. ‘We’re

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30 Mar 2011

Japanese auto parts shortages will soon hit automakers

“apan’s deadly earthquake and tsunami have created problems for the global auto industry that are expected to peak here in the U.S. within the next few weeks, analysts say.” Source: Japanese auto parts shortages will soon hit automakers – Mar. 30, 2011

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22 Mar 2011

US Approaching Insolvency, Fix To Be ‘Painful’

“‘If we continue down on the path on which the fiscal authorities put us, we will become insolvent, the question is when,’ Dallas Federal Reserve Bank President Richard Fisher said in a question and answer session after delivering a speech at the University of Frankfurt. ‘The short-term negotiations are very

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22 Mar 2011

Portugal braces for govt collapse amid debt crisis

“The leader of Portugal’s main opposition party says the minority government’s downfall is ‘inevitable’ after it failed to win political support for its latest plan to cut the country’s huge debt burden. Portugal is trying to avoid becoming the latest of the 17 eurozone countries to need a bailout, following

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16 Mar 2011

Wholesale prices up 1.6 pct. on steep rise in food

“Wholesale prices jumped last month by the most in nearly two years due to higher energy costs and the steepest rise in food prices in 36 years. Excluding those volatile categories, inflation was tame. The Labor Department said Wednesday that the Producer Price Index rose a seasonally adjusted 1.6 percent

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15 Mar 2011

Japan earthquake disrupts technology companies

“Technology firms are facing major disruption to supplies in the wake of the earthquake and tsunami which have devastated parts of Japan. The country is home to several of the world’s major high tech manufacturers. Many of them have had to stop production to carry out safety checks and the

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15 Mar 2011

Tokyo Shares End Day Down 11%

“Asian shares tumbled Tuesday as Tokyo’s stock benchmark plunged 11% on panic selling amid worries that a possible nuclear catastrophe in Japan would further complicate and endanger the nation’s recovery from its worst earthquake on record. The Nikkei Stock Average finished 11% lower at 8,605.15 after sliding more than 14%

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07 Mar 2011

Oil Rises to 29-Month High

“Oil rose to the highest in 29 months in New York as escalating violence in Libya renewed concern that supply disruptions may spread through the Middle East. Crude gained as much as 2.3 percent after fighting between Libyan rebels and troops loyal to Muammar Qaddafi intensified. Hedge funds raised purchases

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04 Mar 2011

Financial terrorism suspected in 2008 economic crash

“Evidence outlined in a Pentagon contractor report suggests that financial subversion carried out by unknown parties, such as terrorists or hostile nations, contributed to the 2008 economic crash by covertly using vulnerabilities in the U.S. financial system. The unclassified 2009 report ‘Economic Warfare: Risks and Responses’ by financial analyst Kevin

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