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Europe's stocks hit on EU summit skepticism
23 May 2012 at 10:32am
Stock markets were hit hard and the euro skidded down to near 22-month lows against the dollar Wednesday as investors grew increasingly skeptical that European Union leaders will be able to cobble together a plan to kick-start the region's faltering economy and deal with its crippling debt.
Global stocks, euro sag on Greece exit worries
23 May 2012 at 10:27am
NEW YORK (Reuters) - World stocks stumbled and the euro fell to a 21-month low on Wednesday on worries about Greece's possible exit from the euro zone, which would deepen the region's debt crisis and hurt an already fragile global economic recovery. Each euro zone country will have to prepare a contingency plan for the eventuality of Greece leaving the bloc's currency, three euro zone sources told Reuters, citing an agreement reached by officials. ...

Germany beefs up monitoring of nuclear shutdown
23 May 2012 at 10:20am
The German government will more closely oversee the country's move from nuclear power to renewable energy, Chancellor Angela Merkel said Wednesday ? a mammoth 10-year project for Europe's biggest economy that has been going slowly so far.
Nigeria bond yields fall after rates held
23 May 2012 at 10:18am
LAGOS (Reuters) - Yields on Nigerian government bonds fell on Wednesday after the central bank held rates at 12 percent, with a boost to liquidity from maturing debts and oil revenues expected to push yields down further, dealers said. Nigeria's central bank left its benchmark interest rate on hold on Tuesday for the fourth time in a row at its by-monthly meeting, citing slowing economic growth and rising inflation, which spurred demand for bonds at current yields. Traders said investors had been holding off from taking a position pending the rate decision. ...

US stocks open lower as European leaders meet
23 May 2012 at 9:59am
Markets are swooning in Europe and the U.S. as investors become increasingly skeptical that European leaders will succeed at jump-starting the region's economy and preventing a messy exit from the euro by Greece.
CP Rail strike stops freight; government may step in
23 May 2012 at 9:56am
TORONTO (Reuters) - Locomotive engineers and conductors at Canadian Pacific Railway Ltd went on strike early Wednesday morning after failing to reach a contract agreement, shutting down freight operations on Canada's second-biggest railroad. In response, the Canadian government warned that it may introduce back-to-work legislation as early as next Monday if the strike drags on and harms the economy. ...
Pensions chief raises doubts on QE effectiveness
23 May 2012 at 9:52am
SOUTH CERNEY, England (Reuters) - Most British pension funds cannot shift significant sums into riskier assets, even when faced with record-low bond yields, a top industry representative says, raising questions about the effectiveness of the Bank of England's policy stimulus. The BoE says that its 325 billion pounds of quantitative easing (QE) does more to help the economy than just reduce government bond yields because it encourages investors to put money into higher-return assets that fund private-sector investment. ...
Oil falls on potential Iran deal, economy concerns
23 May 2012 at 9:32am
LONDON (Reuters) - Oil fell on Wednesday as signs of a looming deal between Iran and the U.N. nuclear watchdog eased fears of a supply disruption, while the euro zone debt crisis and a slowing Chinese economy raised worries over demand. A U.S. Energy Information Administration (EIA) weekly report showing U.S. crude inventories, excluding Strategic Petroleum Reserves, logged the biggest nine-week build on record also helped depress prices. ...
Ottawa will intervene in CP Rail strike if needed
23 May 2012 at 9:28am
OTTAWA (Reuters) - The Canadian government said on Wednesday it could introduce back-to-work legislation as early as next Monday if a strike at Canadian Pacific Railway Ltd persists and harms the economy. "I have already put on notice a bill to ensure that we are in the position to be able to introduce legislation if necessary," Labor Minister Lisa Raitt said in Ottawa. ...
Amnesty accuses UN council of "failed leadership"
23 May 2012 at 9:24am
LONDON (Reuters) - Rights group Amnesty International lambasted the United Nations Security Council on Thursday as "tired, out of step and increasingly unfit for purpose". In its annual report, Amnesty said the failure of world powers to take stronger action on Syria was evidence that a sclerotic security council was hamstrung by vested interests, and also warned of abuses arising from Europe's economic crisis. Permanent security council members Russia, a key arms supplier to Syria, and China have shielded Syrian President Bashar al-Assad from tough sanctions. ...
Merkel vows to push post-nuclear energy strategy
23 May 2012 at 8:55am
BERLIN (Reuters) - Chancellor Angela Merkel agreed with Germany's state premiers on Wednesday to step up efforts to expand the power grid and resolve a dispute over solar incentives as she tries to rescue plans for a switch away from nuclear to renewable energy. Merkel said her vision for an energy shift in Europe's biggest economy would require a lot of work and coordination but all parties at the three-hour talks in Berlin had vowed to work together despite clashing interests. ...

Competitive Senate race shaping up in North Dakota
23 May 2012 at 8:54am
North Dakota's prosperity from an energy boom as the rest of the country slowly crawls out from under a collapsed economy is making a contest of a Senate race that Democrats had all but conceded.
Germany's Sinn: an economist with a mission
23 May 2012 at 8:42am
MUNICH (Reuters) - Germany's best known economist Hans-Werner Sinn wanted to become a missionary as a teenager. His wife believes he is one. The president of the influential Ifo think tank has been advocating for Greece's exit from the euro zone in newspapers and talk shows for two years, convinced this is the only way for the debt-laden country to avoid economic disaster and for Germany to stop pouring money into a black hole. Policymakers in Berlin do not act on all of his advice. ...
Sinn Fein sees route to power in Irish austerity
23 May 2012 at 8:40am
DUBLIN (Reuters) - Sinn Fein hopes to ride a wave of anger against austerity measures to achieve its ambition of ruling Ireland, its leader Gerry Adams said on Friday, as misgivings about its role in the Northern Ireland conflict fade. The political wing of the now-defunct Irish Republican Army has seen its support surge since Ireland's Celtic Tiger economy began to collapse in 2008 and is now the second most popular party in the country, according to opinion polls. ...

Skepticism over EU breakthrough hits markets
23 May 2012 at 8:33am
Skepticism over the ability of European Union leaders to cobble together a plan to kick-start the region's faltering economy and deal with its crippling debt crisis hit stock markets hard Wednesday and sent the euro skidding down to near 21-month lows against the dollar.
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Currency Exchange Thurlaston News
USD Rally May Defy Market Expectations, AUD Struggles To Find Support - TheSt...
23 May 2012 at 10:23am TheStreet.com By DailyFX 05/23/12 - 12:15 PM EDT By David Song, Currency Analyst By Roger Arnold In all my years on Wall Street this is the most outrageous and egregious deal I have ever seen. By Jim Cramer The timing of the disappointing Facebook IPO couldn't be ... and more » |
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CANADA FX DEBT-C$ softer as market eyes European summit - Reuters
23 May 2012 at 7:45am ![]() Financial Post | Reuters Excluding autos, however, sales were up just 0.1 percent versus a market forecast for a rise of 0.5 percent rise. After the report, the Canadian dollar slipped to a session low of C$1.0246 versus the US currency, or 97.60 US cents, from about C$1.0225 ... Canadian Dollar Falls Before EU Summit, Canadian RetailBloomberg High is betterFinancial Post all 30 news articles » |
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Korean Won Retreats on Concern Greece to Exit Euro; Bonds Steady - Bloomberg
23 May 2012 at 2:21am ![]() Globe and Mail | Bloomberg ?Investors are demanding the dollar to protect against uncertainties in the market,? said Kim Do Hee, a Seoul-based currency dealer at Australia & New Zealand Banking Group Ltd. ?Market sentiment may flip should there be positive comments from today's ... Europe's stocks hit on EU summit skepticismSeattle Post Intelligencer all 71 news articles » |
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