06 May 2011

Oil prices continue to fall

“Oil prices plunged more than 8% Thursday as weak economic data and a strengthening dollar drove crude to its biggest one-day drop since April 2009. The main U.S. oil contract for June delivery settled down $9.44, or 8.6%, to $99.80 a barrel. That’s its lowest level since mid-March and marks

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18 Apr 2011

S&P delivers blow for US debt

“Standard & Poor’s issued a stark warning to Washington on Monday, cutting its outlook on US sovereign debt for the first time and throwing more fuel on the raging debate over America’s swollen deficits. The agency kept America’s credit rating at triple A but for the first time since it

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13 Apr 2011

US lacks credibility on debt, says IMF

“The US lacks a ‘credible strategy’ to stabilise its mounting public debt, posing a small but significant risk of a new global economic crisis, says the International Monetary Fund. In an unusually stern rebuke to its largest shareholder, the IMF said the US was the only advanced economy to be

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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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