Warren Buffett“A public opinion poll is no substitute for thought.”
Adlin Sinclair“Success is a welcomed gift for the uninhibited mind.”
A look at global economic developments (AP)
A look at economic developments and activity in major stock markets around the world Friday:
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BEIJING — China’s economy grew even faster in 2009 than previously reported, adding to concern the flood of stimulus spending and loans that drove its rebound left a dangerous glut of unneeded factories and other assets.
In Asian trading, In Japan’s Nikkei 225 stock average gained 0.1 percent to 9,203.71 after closing at a seven-month low on Thursday.
Elsewhere, South Korea’s Kospi fell 0.9 percent, Hong Kong’s Hang Seng dropped 1.1 percent and China’s Shanghai Composite Index gained 0.4 percent.
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BERLIN — German lawmakers approved a government bill that would cement in law and extend curbs on speculative trading practices following the country’s abrupt imposition of restrictions in May.
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BEIJING — Bank of China Ltd. will raise up to 60 billion yuan ($8.9 billion) in a new effort by a major Chinese state-owned lender to replenish capital following last year’s lending boom.
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BRUSSELS — European Commission PresidentJose Manuel Barroso urged EU nations to quickly back “stricter and smarter” rules making it possible to fine countries that chalk up oversized deficits and debts.
In European trading, the FTSE 100 index of leading British shares ended 0.7 percent higher, Germany’s DAX dropped 0.4 percent and France’s CAC-40 added 0.3 percent.
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MADRID — In the ashes of Europe’s debt crisis, some see the seeds of long-term hope. That’s because the threat of bankruptcy is forcing governments to implement reforms that economists argue are necessary to help Europe prosper in a globalized world — but were long viewed as being politically impossible because of entrenched social attitudes.
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MADRID — Spain says the number of people seeking unemployment benefits fell by nearly 84,000 in June as companies stepped up hiring for the summer tourism season.
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CANBERRA, Australia — Australia’s government retreats from a planned 40 percent tax on booming profits in the mining industry, defusing a damaging row with big business and clearing the way for national elections to be called at any time.
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JOHANNESBURG — The International Monetary Fund and the World Bank have set the stage to relieve Congo of a massive $12.3 billion in debt, most of it dating back more than 20 years to loans made to the corrupt regime of dictator Mobutu Sese Seko.
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BEIJING — Bank of China Ltd. will raise up to 60 billion yuan ($8.9 billion) in a new effort by a major Chinese state-owned lender to replenish capital following last year’s lending boom.
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ATHENS, Greece — A union representing Greek public servants says it will join a protest planned by other unions on July 8. The protest would be Greece’s sixth general strike this year against economic austerity.