Economics

Analysts: U.S. September Quarterly Earnings marks the lowest Quarterly Earnings Season since 2009

October 8, 2012

“Wall Street analysts expect third-quarter earnings per share for S&P 500 companies will fall 2.7 percent versus the same quarter a year ago, according to FactSet. Just three months ago analysts had forecast growth of 1.9 percent.”

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World Bank cuts China’s Economic Growth Forecast to 7.7%, down from 8.2%

October 8, 2012

“As for the region as a whole, the World Bank now expects developing East Asia to grow by 7.2 percent this year and 7.6 percent in 2013, down from earlier estimates of 7.6 percent and 8.0 percent, respectively.”

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New Egyptian President Mohammed Morsi gives himself ‘high grades’

October 8, 2012

“Morsi claimed that scientific methods used to gauge progress on the five issues gave him a success rate of 80 percent on bread, 60 percent on traffic, 40 percent on garbage collection, 85 percent on fuel and 70 percent on security.”

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Report: Australia’s Central Bank may have to cut Interest Rates to sustain Economic Growth

October 8, 2012

“Australia faces a gathering threat to its 21-year run of recession-free growth.”

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Upcoming Supreme Court Case to hear arguments on the individual resale of foreign-copyrighted products

October 7, 2012

“Under the doctrine, which the Supreme Court has recognized since 1908, you can resell your stuff without worry because the copyright holder only had control over the first sale.”

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Iranian Lawmakers criticize President Ahmadinejad over the Country’s Currency and Economy

October 7, 2012

“Iran’s parliament speaker Ali Larijani stopped an debate on impeaching Sports and Youth Minister Mohammad Abbasi, saying some lawmakers withdrew “because of the economic situation,” indicating that fixing the economy was more important than political moves.”

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Iran: We will defeat the “enemy conspiracy” against currency and gold markets

October 5, 2012

“Riot police clashed with protesters and arrested money changers on Wednesday during demonstrations triggered by the collapse of the rial, which has lost around a third of its value against the dollar in a week.”

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Stocks – Dow Jones Industrial Average closes at a new 5-year high over 13,610

October 5, 2012

“The stock market rally, powered by a drop in the unemployment rate to 7.8%, its lowest level since January 2009, boosted the Dow Jones industrial average to a fresh five-year high even as other benchmark indexes closed lower Friday.”

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New Jobs Report Reveals U.S. Unemployment Rate Drops to 7.8% in September, Beating Economists’ Expectations

October 5, 2012

“The rate declined from 8.1 percent because the number of people who said they were employed soared by 873,000 — an encouraging sign for an economy that’s been struggling to create enough jobs.”

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Report: U.S. Federal Reserve may adopt numerical thresholds for inflation and joblessness to serve as “guideposts” for Monetary Policy

October 4, 2012

“Minutes of the Fed’s September 12-13 meeting released on Thursday showed officials were broadly in agreement that more policy stimulus was needed given the meager economic recovery.”

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Economists expect tomorrow’s September Jobs Report to show a “modest” increase in job growth

October 4, 2012

“The jobless rate likely ticked up to 8.2% from 8.1% last month, the experts estimate. Job gains of 150,000 or higher are typically needed to bring down unemployment.”

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Fact-Checking Governor Romney in the First Presidential Debate — Jobs and the Middle Class

October 4, 2012

“Mr. Romney promised to create 12 million jobs over the next four years if he is elected president. That is actually about as many jobs as the economy is already expected to create, according to some economic forecasters.”

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Two Economists predict that September’s Unemployment Rate will be 8.1%

October 2, 2012

“An unemployment rate of 8.1% would represent no change from August, and is also the consensus forecast of economists surveyed by Dow Jones Newswires. Messrs. Barnichon and Nekarda also forecast 8% in October and November.”

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President Obama urges Congressional Republicans to Help Homeowners Disadvantaged by the Housing Crisis

October 1, 2012

“He urged lawmakers to act on his plan to help homeowners refinance at lower rates. “It’s a plan that has the support of independent, nonpartisan economists and leaders across the housing industry,” Obama said.”

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U.S. Companies Cutting Costs, Leading to a Weak Labor Market Outlook

October 1, 2012

“All this is pushing finance chiefs back to the drawing board, with some limiting hiring and investment and others slashing more jobs than originally announced.”

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