26 Oct 2010

Greece Likely to Default By 2013 as Debts Remain

“Greece is likely to default over the next three years because budget-cutting won’t be enough to reduce the nation’s debt burden, Pacific Investment Management Co. Chief Executive Officer Mohamed A. El-Erian said. It’s in Greece’s interest to default ‘as long as you can contain the contagion to other countries and

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25 Oct 2010

Australia Economy: Australia Producer Prices Jump, Rate Risk Rises

“Australia’s producer prices jumped last quarter by the most since 2008 as the cost of utilities and building climbed, likely adding to policy maker’s concerns that strong economic growth heralds inflationary pressure ahead. Prices at the final stage of production rose 1.3 percent in the third quarter, well above forecasts

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21 Oct 2010

Risk Is Back on the Menu

“t doesn’t take a genius to note that the risk-off trades that flooded the markets after China unexpectedly hiked rates Tuesday have already been unwound. In the immediate aftermath of the People’s Bank of China’s 0.25 percentage point increase in both its one-year lending and deposit rates, investors sold anything

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20 Oct 2010

France strikes: Paris streets ablaze, Britons warned to stay away from violence

“A car explodes in flames and policemen clash with rioting youths as spiralling violence grips France. This was one of many flashpoints across the country yesterday amid growing public anger against raising the retirement age to 62. In the town of Nanterre, north-west of Paris, officers also fired rubber bullets

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19 Oct 2010

Stocks: Worst day in two months

“Stocks fell sharply Tuesday, amid reports that a group of bondholders are trying to force Bank of America to repurchase bad mortgages. Investors also weighed a surprise rate hike by the Chinese government, and mixed data on the housing market and corporate results. The Dow Jones industrial average (INDU) lost

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19 Oct 2010

European Stocks Fall After China Interest Rate Hike

“European stocks fell Tuesday, with basic resources pacing the decline following a surprise short-term interest-rate hike by China. At the same time, mixed earnings reports out of the U.S. and weakness in the technology sector weighed on markets. The euro lost ground against the dollar, while oil and gold prices

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