Germany will soon tire of footing the euro bill

first_img whatsapp HOW much longer will Germany want or need to be a member of the Eurozone is a question that’s been increasingly asked since the start of this financial crisis. With the stunning strength of the bounce back in Germany becoming clearer with every data series release, this is a crucial yet slow burn story that could easily catch fire and engulf the Eurozone.GERMANY WON’T WANT TO PAYThe single currency has always been a primarily political creation, rather than an economic one. But increasingly it’s economics that will determine its future, rather than politics. Put simply, it will not be too long before Germany doesn’t need its Eurozone partners and certainly won’t want to pay for their problems any longer.As Goldman Sachs’s Jim O’Neill pointed out to me last week, China will soon be more important to Germany as an export market than France. Berlin’s relationship with Paris, traditionally the beating heart of the EU, is already weakening. Economic realities would suggest that this process is only going to accelerate. And if Berlin is less worried about Paris, then what about its relationships with the far less important Athens, Lisbon or Dublin?With the crisis making it clear that Germany is going to have to provide long term financial help for much of the rest of the region, one has to wonder how interested the country’s leading businesses are in footing the bill. The euro was partly created to take currency volatility out of the equation for the region’s companies and in the process lower trading costs. However, if the bulk of your trade is outside the Eurozone, then why do you need to worry about currency stability and why do you need to bail out the rest of the region?To be fair there are some upsides to membership. Possibly the biggest one comes from the very weakness of the rest of the zone. Greece, Ireland and Portugal have all done German manufacturing a favour this year by driving the euro lower – in the process making German exports much more competitive.However, borrowing a cheaper currency from Greece is not a sensible long-term strategy – especially from the Bundesbank’s perspective. If the German economy keeps growing, then it won’t be that long before a case could be made for higher rates. Just look at Sweden where the Riksbank has already pulled the trigger. Watch this space.Guy Johnson co-anchors European Closing Bell weekdays on CNBC.http://europe.cnbc.com Share KCS-content whatsappcenter_img Sunday 5 September 2010 10:03 pm Tags: NULL Show Comments ▼ Germany will soon tire of footing the euro bill last_img read more

Rio Tinto to invest $3bn in expansion

first_img KCS-content whatsapp Show Comments ▼ GLOBAL miner Rio Tinto approved a $3.1bn (£1.9bn) iron ore expansion yesterday, staking a claim to become the world’s top producer and defying industry concerns over a new Australian mining tax.Iron ore miners are ramping up production to meet booming demand from Asia, with most of the growth in output set to come from Australia where two of the world’s biggest producers – Rio Tinto and BHP Billiton – dominate.Rio Tinto’s move to boost output by 28 per cent follows this week’s demise of a planned joint venture with BHP Billiton in northwest Australia’s Pilbara region aimed at saving the companies $10bn in costs.“Rio and BHP are obviously not taking much notice of the mining tax if they are planning all these investments in iron ore,” said a source.“BHP Billiton unveiled a six per cent rise in quarterly iron ore output today [Wednesday] and is also planning to expand its Australian iron ore operations to meet booming Asian demand.”Rio Tinto’s announcement, combined with BHP Billiton’s production surge, eclipsed news reports yesterday that suggested they and other miners risked being double-taxed under Australia’s proposed 30 per cent tax on iron ore and coal.Rio Tinto, BHP Billiton and London-listed Xstrata – the big three of Australian iron ore and coal – accuse Canberra of reneging on a guarantee to refund all of the money the miners pay state governments in the form of royalties, newspapers said. Without that guarantee, they could effectively be double-taxed.But neither industry analysts nor political experts believe the issue will reignite the tax issue and hurt mining investment, and pointed to Rio Tinto’s expansion plan as evidence.Rio Tinto’s $3.1bn plan would take its annual Australian production to 283m tonnes a year in 2013 from 220m tonnes. It plans to boost it further to 333m tonnes, which could bring it alongside Brazil’s Vale now the world’s top producer.BHP Billiton is running at around 125m tonnes a year, with near-term plans to take that to 155m tonnes.BHP Billiton, the world’s biggest miner said it was now running most of its assets at full capacity as suppliers struggle to keep pace with the global appetite for industrial raw materials.Meanwhile, miner Xstrata said yesterday it would invest a further $710m to boost its production in South Africa. Under the expansion project, a new smelter will be built with a capacity of 360,000 tonnes per year, boosting the group’s overall ferrochrome capacity to over 2.3m tonnes. The project is due to reduce overall costs of ferrochrome production by around six per cent, Xstrata said. Ferrochrome is a key component in stainless steel. Tags: NULL Wednesday 20 October 2010 7:25 pmcenter_img Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times whatsapp More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Rio Tinto to invest $3bn in expansion last_img read more

Exodus feared as UK companies lose faith

first_imgSunday 24 October 2010 10:53 pm Exodus feared as UK companies lose faith Tags: NULL Share Show Comments ▼center_img whatsapp whatsapp COMPANIES are losing patience with rising levels of taxation and regulation and many are plotting to move overseas with disastrous implications for the economy, the Confederation of British Industry will warn today. A survey of business chiefs lifted the lid on growing dissatisfaction with an economic environment which they claim is blunting their competitive edge. The CBI said India and China were increasingly being viewed as better options by firms struggling to recover from the downturn, while the US was also considered more viable. In the service industry 10 per cent fewer businesses will have their headquarters in the UK in five years time, according to data in the CBI/Deloitte Annual Conference Survey.However, 12 per cent of the companies polled have not yet decided if they will move their businesses, and the CBI warned the government that it faces a race against time to stop them abandoning the UK. The issues that overshadowed all others were regulation, taxation, infrastructure and planning. The manufacturing sector showed the least confidence in the UK – scoring 27 per cent lower than the average approval rating for other areas of the economy.While financial services emerged as the most attractive sector for investment at the moment, regulation is threatening to stifle competition, CBI deputy general director John Cridland told City A.M. “The European Parliament is settling scores. Some think that private equity companies were benefiting because they were not being regulated in the same way as public companies. “However, what they are not accepting is that private equity companies cannot cause a systematic collapse of the system. A firm may fail but it will not bring the whole system down with it. What these regulators are doing is in many ways uncompetitive. There are so many rules and regulations that companies are not able to come up with innovative products.”Meanwhile the survey shows that businesses at least believe that the coalition government is proving a good listener. More than 60 per cent said they thought it would improve the overall climate for business. CBI director-general Richard Lambert said: “The atmosphere is positive … we must fire the economy into life. In the past two years we have seen some troubling signs.” The report was based on findings by Ipsos MORI, which interviewed 121 business chiefs. KCS-content last_img read more

Next warns over clothes price surge

first_img KCS-content NEXT warned yesterday that its clothes prices would rise by around eight per cent in the new year as worldwide cotton prices soar.The group, which runs over 500 stores in Britain and Ireland as well as the Directory home shopping business, said it expected fourth-quarter total sales growth to be lower than the third quarter’s 2.2 per cent increase but maintained its guidance for the year to the end of January 2011 profit. Next said sales at shops open at least a year fell 3.3 per cent in the third quarter to 30 October. But that was offset by Directory sales growth of 7.9 per cent, which compared with forecasts of a rise of five to eight per cent and a second-quarter increase of 11.8 per cent.Chief executive Simon Wolfson said: “We’re planning very conservatively for 2011 but not [for] a disaster.He warned that due to further rises in the price of cotton, retail price increases were likely to be at the top end of Next’s previously stated five to eight per cent range for the first quarter of 2011. Higher rises could follow in the second quarter.“Because we’ve bought most of the stock for the first-quarter of next year we can be fairly confident that our number at the top end of that range is right,” said Wolfson, who has just returned from a visit to factories in Bangladesh and India.“We still haven’t contracted for the second quarter and if cotton prices continue to go up then that may nudge that [range] up. “The price of cotton seems to be moving very rapidly and somewhat irrationally and it’s very difficult to make a call.”Next said it was sticking with its forecast for underlying retail sales to fall by 1.5-4.5 per cent in its second half, with Directory sales up four to eight per cent. Share Next warns over clothes price surge Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmcenter_img Wednesday 3 November 2010 9:32 pm More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com whatsapp whatsapp Tags: NULLlast_img read more

Cisco dives on weak outlook

first_img Tags: NULL KCS-content Show Comments ▼ whatsapp Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushcenter_img Technology bellwether Cisco Systems plunged 16.2 per cent to $20.52 in frenzied trading yesterday, a day after a gloomy revenue outlook left investors jittery, and some brokerages downgraded the stock. More than $23.5bn was eroded from the company’s market cap with about 200m shares changing hands in 30 minutes of trading, four times their 50-day moving average volume. Shares of rivals Juniper Networks, F5 Networks, Riverbed Technology and Jabil Circuit also sank. Cisco also dragged down the broader market. At least three brokerages lowered their ratings and six others cut their price targets on the shares of the company, which said weak spending by its public sector customers and soft orders from its cable segment hurt its results. The disappointing forecast comes a quarter after Cisco warned of an uncertain economy. whatsapp Cisco dives on weak outlook More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com Thursday 11 November 2010 8:22 pmlast_img read more

Narnia film claims shaky win

first_img Show Comments ▼ KCS-content Sunday 12 December 2010 10:42 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald whatsapp Sharecenter_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap whatsapp The third movie in the shaky Narnia fantasy franchise took the top spot at the worldwide box office yesterday despite a soft start in North America. The Chronicles of Narnia: The Voyage of the Dawn Treader sold $105.5m (£66.8m) worth of tickets globally, distributor 20th Century Fox said. Tags: NULL Narnia film claims shaky win last_img read more

Cineworld boosted by string of blockbuster film smashes

first_img CINEMA chain Cineworld said 2010 sales rose 4.7 per cent as a series of blockbusters packed its venues. The Twilight Saga: Eclipse, Inception and Harry Potter and the Deathly Hallows (part one) were among the big hits which drove sales.The company said it expected full-year profit to be within the range of market expectations as the negative impact on sales due to harsh winter was offset by a strong performance from the rest of the year.“The year saw Avatar and Toy Story 3 in 3D become the highest and second highest grossing films respectively in UK box office terms,” the company said in a statement.The company, which operates 801 screens from 78 sites, said the poor weather last month hurt box office sales as potential cinema-goers struggled to get out but overall the trend was positive. For the 52 weeks to 30 December the company’s box office sales rose 4.2 per cent, while retail revenue fell 1.5 per cent.Cineworld also said it was confident of its performance in the year ahead, supported by an attractive film release programme for 2011, with more 3D films in the pipeline. Thursday 6 January 2011 8:14 pm Share Show Comments ▼ whatsapp Cineworld boosted by string of blockbuster film smashes KCS-content whatsapp Tags: NULL Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Prooflast_img read more

Cameron denies any political tensions over Rosneft deal

first_img KCS-content Monday 17 January 2011 9:23 pm Share Cameron denies any political tensions over Rosneft deal whatsappcenter_img POLITICAL tensions over BP’s deal with Russian state-owned Rosneft were played down yesterday by the UK government.A spokesman for Prime Minister David Cameron said the share swap was “a commercial deal between two companies”, and did not indicate a thaw in political relations between Britain and the Russian government.He said: “The Prime Minister has made the point that our view is that there will be differences of opinion on specific issues between us and Russia, but there will also be areas where it is in our mutual interest to work together and we will do that.”The deal had come in for strong criticism after several US congressmen, diplomats and environmental campaigners raised fears over BP’s environmental safety record in the wake of the Gulf of Mexico oil spill and the link with the Russian state.David Cameron’s spokesman declined to comment on US concerns, but said he was unaware of any communication between the Prime Minister’s office and the White House about the deal.BP chief executive Bob Dudley yesterday said the company notified the US government about the deal before it was announced but said it did not need US approval.PHILIP LAMBERTLAMBERT ENERGY ADVISORYTEAMING up with the Russian government is not a typical job for London’s investment banks – so BP has instead turned to boutique consultancy Lambert Energy Advisory to work on its Rosneft venture. The firm is run by Philip Lambert, an alumni of merchant bank Kleinwort Benson who started his own business in 1999 to offer strategic and financial advice to governments as well as oil and gas companies. Lambert has gained a reputation for expertise in state-run oil firms in particular, though he has kept his firm small with less than a dozen employees. He has worked with energy majors Shell, Petronas, Gazprom and Total in the past, but scoring the advisory contract with BP is seen as a coup among energy insiders. BP’s long-time legal advisers at Linklaters are also on board to work on the venture, with Stephen Griffin in London and Grigory Gadzhiev in Moscow taking the lead. Meanwhile, rival firm Freshfields Bruckhaus Deringer has moved to advise Rosneft, having previously advised BP during its defence against takeover bids at the height of the Gulf disaster. A spokesperson for Freshfields yesterday said the firm continues to have a relationship with BP. Sebastian Lawson in London and Sergei Diyachenko in Moscow are leading the team, assisted by Sam Brown and Alexey Tokovinin. Securities law and market disclosure advice was given by partner Sarah Murphy and senior associate Doug Smith in London, alongside Vladislav Skvortsov in Moscow. Show Comments ▼ whatsapp Tags: NULLlast_img read more

Autonomy wins big Japan deal

first_img Autonomy wins big Japan deal Share Show Comments ▼ Cambridge-based technology firm Autonomy yesterday announced it has entered into its largest ever licencing agreement in Japan.The deal, involving its Intelligent Data Operating Layer (Idol) video software, is said to be worth “seven figures” but the firm declined to reveal the exact value.The FTSE 100 company also said it has added North American supermarket group Safeway to its list of clients in what it described as a “significant deal,” also involving the licensing of Idol.Autonomy has seen its shares fall from £19.75 in June to £14.24 yesterday, after a number of analysts turned bearish on the stock. In October the firm said it would it would cut its full-year revenue guidance by about three per cent after weaker-than-expected demand, sending its shares down 16 per cent.The firm’s stock dropped a further 3.35 per cent in trading yesterday.Idol is a “smart” program that is able to analyse and index video content, allowing users to, for example, easily search for specific phrases or incidents in long video files.The group will release its fourth quarter results next month. KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldcenter_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap whatsapp whatsapp Tags: NULL Wednesday 19 January 2011 7:08 pmlast_img read more

IMF raises global growth forecast

first_imgTuesday 25 January 2011 3:36 am whatsapp Share whatsapp IMF raises global growth forecast More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comPuffer fish snaps a selfie with lucky divernypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search Ads Tags: NULL Show Comments ▼ John Dunne The International Monetary Fund expects global economic growth in 2011 to be just slightly slower than last year’s rate of 4.75 per cent, its deputy managing director said on Monday.“I can confirm 2011 global growth is expected to be only slight slower than 4.75 (per cent) last year,” IMF first deputy managing director John Lipsky, said at the OECD’s Latin American Forum in Paris.Lipsky said the growth was “impressive” given the 10-20 year averages for global growth were about 3.5 per cent, but said that much of the growth was due to emerging markets.“Emerging economies have represented the driving force of the post-crisis global expansion: strong domestic demand – buoyed by an accommodative policy stance and renewed inflows of foreign capital – has powered a very robust recovery, even providing some boost to advanced economies,” he said.However, he warned that despite the pace of growth, future economic expansion faced three downside risks.“The links between financial stresses and fiscal sustainability –especially in the euro area — have the potential to undermine growth,” he said.“The lack of progress in formulating credible medium-term fiscal consolidation plans in many advanced economies, that could weaken confidence and push up long-term interest rates; and high commodity and food prices, that could undermine macroeconomic stability and trigger social and political strains in developing countries.”Lipsky said advanced economies did not have much policy room to manoeuvre to secure faster growth via shifts in domestic macroeconomic policies.“Other countries (excluding U.S.) either have no room for further fiscal expansion, or they are being pushed by financial market pressures to tighten budget policies immediately. In this context, accommodative monetary policies in advanced economies so far have been welcome and appropriate,” he said.When asked by reporters on price pressures Lipsky said he was concerned that there were countries where headline inflation had moved above targets.“It (has) to be watched closely to avoid deterioration in core inflation and inflationary expectations,” he said. last_img read more