Fed Pessimism Fuels Asia Losses; Nikkei Up
Antonia Matthews
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Despite huge efforts to keep the euro zone afloat, business leaders now believe that some of the region’s most troubled countries are riskier places to invest than war-torn nations in the Middle East or North Africa.
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As Hurricane Sandy moves towards the shores of New Jersey on the east coast of the United States, utilities warned that strong winds, and flooding that may take place, mean it could take up to a week to restore power to all the affected locations.
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The debt burden in the United States and other Western countries will continue to go up, Marc Faber, Author of the Gloom, Boom and Doom report told CNBC on Monday, leading to a “colossal mess” within the next five to ten years.
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Germany has no choice but to monetize the debt of southern Europe and save the euro to save itself, economists say.
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A new report finds that the cost of funerals his risen by 71 percent in the past eight years in the United Kingdom, leaving 17 percent of people struggling to afford a funeral.
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European Commission President Jose Manuel Barroso called for more European integration to help tackle the euro zone debt crisis in his State of the Union speech on Wednesday through the creation of a “federation of nation states”.
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The European Central Bank’s new bond buying program buys time for the embattled euro zone but leaves the ball in the court of Madrid and Rome, telling them that purchases of sovereign bonds would come with strict conditions.
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With the holidays over and a number of key events ahead, the time may have come for Spain to go cold turkey and accept the austerity measures that will come with an aid request.
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Despite yielding extremely low or even negative returns, German Bunds have not lost their safe haven appeal, underscoring the huge appetite among investors for low risk assets as the euro zone debt crisis drags on. But a new asset class is on the rise – and many believe it has a lot more to offer.
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Famously bearish economist Nouriel Roubini has branded the Olympics an “economic failure”, saying Londoners have left the city and tourists have stayed away following “excess warnings”.