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Knight Capital Group given $400-M lifeline
Nathan Andrada – Fourth Estate Cooperative Contributor New York, NY, United States (4E) – Knight Capital Group got a $400mn infusion from Wall Street investors after a frantic rush by the brokerage firm to raise much needed capital following a massive computer glitch last week. Knight Capital performs huge volumes of trades at the New [...]
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JP Morgan Q2 earnings down by 8.7 percent
Nathan Andrada – Fourth Estate Cooperative Contributor New York, NY, United States (4E) – JP Morgan Chase’s second quarter revenue fell by 17 per cent that saw its quarterly earnings decline by 8.7 per cent at $4.96bn, which was slightly lower than the previous quarter. The eagerly anticipated quarterly profit announcement comes at the back [...]
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Europe’s woes cast pall over Mideast economies
The Media Line Staff Cairo, Egypt David Rosenberg / The Med – Falling oil prices for Saudi Arabia, fewer tourists in Tunisia and Morocco and tighter credit in the United Arab Emirates. These are just a few of examples of how Europe’s gathering economic storm is likely to send chill winds across the Middle East [...]
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Fitch downgrades Japan’s credit rateing
Linda Young – Fourth Estate Cooperative Writer Tokyo, Japan (4E) – Ratings agency Fitch downgraded Japan’s sovereign credit rating Tuesday from an AA to A+ and warned that further downgrades might be necessary. That is still an investment grade rating, but it is just above the ratings of troubled Italy and Spain. It was the [...]
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Energy Transfer Partners to buy Sunoco in $5.3 billlion deal
Diane Alter – AHN News Reporter Houston, TX, United States (AHN) – Dallas based Energy Transfer Partners LP, announced Monday it was buying Sunoco Inc for $5.3 billion. Under the terms of the deal, Sunocoshareholders will receive about $50.13 a share: $25 in cash and 0.5246 common units of Energy Transfer. Energy Transfer is paying [...]
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Employers tie financial rewards, penalties to health tests, lifestyle choices
United States (KaiserHealth) – Once a year, employees of the Swiss Village Retirement Community in Berne, Ind., have a checkup that will help determine how much they pay for health coverage. Those who don’t smoke, aren’t obese and whose blood pressure and cholesterol fall below specific levels get to shave as much as $2,000 off [...]
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Microfinance – possibilities and limitations
London, United Kingdom (IRIN) – The scope of microfinance to lift poor people out of poverty and provide mechanisms of empowerment is being challenged as questions are raised about the supporting evidence. In a discussion hosted by the UK’s Overseas Development Institute (ODI), the academic evidence was concluded to be unclear, unreliable and inconclusive. “[There [...]
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Clock ticking for Egypt’s finances
The Media Line Staff Cairo, Egypt (The Media Line) – Egypt faces a risk-laden game of Beat the Clock as it tries to get its political house in order before its foreign currency reserves sink much more. Reserves fell to $16.4 billion in January from about $36 million a year earlier, a drop that economists [...]
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Payroll-tax cut pact passes Congress
Diane Alter – AHN News Reporter Washington, D.C., United States (AHN) – Congress Friday swiftly passed a deal to extend the payroll-tax cut through the end of 2012, continue paying unemployment benefits and avoid a steep cut in Medicare doctors’s fee, moving forward from a lengthy fight that had tied up legislators for months. The [...]
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Employers added 243,000 jobs in January
Linda Young – AHN News Writer Washington, D.C., United States (AHN) – Employers added 243,000 jobs in January, an increase over the 203,000 jobs added in December, the U.S. Department of Labor reported on Friday. Hiring was stronger than expected and many economists were surprised. Private sector job growth was widespread with large employment gains [...]