Financial & Business updates

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Not Raising The Debt Ceiling: Shaky Global Economic Recovery

Not Raising The Debt Ceiling: Shaky Global Economic Recovery

If we don’t raise the debt limit, we know we would get mega-austerity and maybe a new financial crisis. But just how bad could it get? WASHINGTON – World finance officials pledged on Saturday to deal with new risks to the global recovery while they kept up pressure on the United States to address the […]

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Yellen to Be Named Fed Chairman, The First United States Female Chief

Yellen to Be Named Fed Chairman, The First United States Female Chief

President Barack Obama will nominate Janet Yellen as chairman of the Federal Reserve, which would put the world’s most powerful central bank in the hands of a key architect of its unprecedented stimulus program and the first female leader in its 100-year history. Obama will announce the nomination at 3 p.m. today in Washington, a […]

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Iran Rouhani’s Historic Call To Obama And Its Hints At End To Economic Sanctions.

Iran Rouhani’s Historic Call To Obama And Its Hints At End To Economic Sanctions.

President says discussion with Iranian counterpart showed ‘basis for resolution’ of dispute over Tehran’s nuclear programme Barack Obama and Hassan Rouhani held the first direct talks between American and Iranian leaders since the 1979 Islamic revolution, exchanging pleasantries in a 15-minute telephone call on Friday that raised the prospect of relief for Tehran from crippling […]

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BlackBerry $4.7B Deal Buy-Out, A Consortium Led by Fairfax Financial Holdings

BlackBerry $4.7B Deal Buy-Out, A Consortium Led by Fairfax Financial Holdings

Deal still subject to due diligence, regulatory approval Troubled smartphone maker BlackBerry has signed a provisional agreement to be bought by a consortium led by Fairfax Financial Holdings Limited, which already owns approximately 10 per cent of the publicly traded shares in the Waterloo, Ont.-based company. Trading of the company’s shares was temporarily halted on the Nasdaq and the Toronto […]

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JP Morgan Chase & Co – When The Fine Is A Crime

JP Morgan Chase & Co – When The Fine Is A Crime

REGULATORS from Britain and American are expected to soon gather behind podiums on either side of the Atlantic and solemnly shake their heads as they announce what is already well known: that JPMorgan Chase lost a vast amount of money—$6.2 billion—in what has become known as the “London whale” trades, which happened during 2012 and […]

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Impact of The Stimulus Package in the New York Stock Exchange & Emerging Markets

Impact of The Stimulus Package in the New York Stock Exchange & Emerging Markets

Shares at record high as Federal Reserve refrains from tapering   The US Federal Reserve has decided to maintain its economic stimulus programme at the current level, despite speculation that it would start scaling it back. US shares jumped after the announcement with all three US indexes closing at record highs. It had been widely […]

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Global Business Impact of Syria’s Crisis

Global Business Impact of Syria’s Crisis

India has an important stake in stability and peace in Syria, given its oil interests in that country. A democratic regime would reduce Iran’s influence and facilitate peace with Israel. Syria’s regime, led by Mr Bashar al-Assad, is battling a growing crisis, precipitated by its use of force against unarmed protesters. Sops such as the […]

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Partnership of The Two Giants in An Unsettled Egypt

Partnership of The Two Giants in An Unsettled Egypt

China’s Sinopec and Houston-based Apache announced a long-term partnership Thursday, continuing a trend of U.S. firms selling foreign assets to focus on the domestic oil boom. The deal involves Sinopec paying $3.1 billion for a 33% stake in Apache’s Egyptian operations, which produce about 100,000 barrels of oil day. Apache said the sale had nothing […]

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Africa so Rich and yet some very Poor

Africa so Rich and yet some very Poor

In a century experiencing huge technological advancements and globalisation Africa is still struggling against poverty, wars, corruption, in a word, against underdevelopment. Responsibility for all these resides on national governments and on the International Community. (Africa files). The idea that Africa is a continent with plenty of natural resources is unarguable. Yet people in Africa […]

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The US 7.8% unemployment rate Decline, A Plus or a Minus for Obama’s upcoming Re-election Campaign?

The US 7.8% unemployment rate Decline, A Plus or a Minus for Obama’s upcoming Re-election Campaign?

Jobless rate declines to 7.8%. U.S. unemployment rate fell to 7.8% in September 2012 from 8.1% in August – its lowest rate since January 2009 when President Barack Obama took office – figures from the Department of Labor show. To help bolster recovery in the flagging economy, the Federal Reserves last month launched a third […]

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