Warren Buffett“A public opinion poll is no substitute for thought.”
Adlin Sinclair“Success is a welcomed gift for the uninhibited mind.”
Greece woes push euro to 10-month low »
(Reuters) – The euro sank to a 10-month low against the dollar and a lifetime trough versus the Swiss franc on Wednesday as speculation Greece may have a difficult time securing debt aid highlighted instability in the euro zone.
European shares hit their highest since October 2008, following a climb in U.S. stocks, but broader [...]
Rare China trade deficit not seen signaling new trend »
(Reuters) – China will probably run a trade deficit of more than $8 billion in March, state media said on Tuesday, citing Premier Wen Jiabao.
It would be China’s first monthly deficit since April 2004, but is expected to be a one-time blip rather than the start of a new trend for the world’s largest [...]
Europe divided on aid to Greece before summit »
(Reuters) – European leaders sent out conflicting signals at the weekend over aid to Greece, with Germany’s Angela Merkel urging Athens to solve its debt problems alone and Italy’s Silvio Berlusconi strongly backing EU support.
The comments were the latest sign of divisions within the 16-nation euro zone over whether and how best to provide [...]
Stocks advance, dollar steady ahead of Fed »
Stocks advance, dollar steady ahead of Fed
(Reuters) – World stocks climbed on Tuesday while the dollar was corralled as investors bet the U.S. central bank will repeat its vow of keeping interest rates low for an extended period after its monthly meeting.
The Federal Reserve is expected to leave benchmark rates near zero given [...]
Lawmakers press for action on China currency »
(Reuters) – President Barack Obama faced growing congressional pressure on Monday to get tough with China over its currency practices, one day after Chinese Premier Wen Jiabao brushed off accusations that Beijing was undervaluing its currency for an unfair trade advantage.
“The impact of China’s currency manipulation on the U.S. economy cannot be overstated. Maintaining [...]
China denies yuan behind U.S. trade gap »
China denies yuan behind U.S. trade gap
(Reuters) – China on Tuesday shunned mounting U.S. demands for a stronger yuan, saying again that its currency is not the cause of its big trade surplus and vowing to keep the currency stable to shore up exports.
Beijing and Washington appear to be locked in a dialogue [...]
EU executive to put Greek plan to finance ministers »
(Reuters) – The European Union’s executive said on Monday it was ready to propose a framework that could be used to aid Greece, despite signs of continuing reluctance from France and Germany to make concrete commitments.
Ministers were expected to discuss the possibility of providing loan guarantees or bilateral loans to help Athens finance its [...]
Senators wrestle with Fed bank oversight issues »
(Reuters) – The Federal Reserve could retain oversight of large bank holding companies under a scaled-back regulatory reform plan being considered by key senators, but important questions remained unanswered, lobbyists said on Sunday.
In a retreat from a bold proposal to streamline a patchwork bank regulatory system, lawmakers were considering keeping supervision of companies such [...]
EU considers creating IMF-style rescue fund »
(Reuters) – The European Union is considering creating a rescue fund that could herald fundamental changes in the 27-country bloc and bring closer economic cooperation following Greece’s debt crisis.
The idea of a European monetary fund was floated over the weekend by German Finance Minister Wolfgang Schaeuble, who said he favored an institution that commanded [...]
Volcker sees no threat to dollar as reserve currency »
Paul Volcker, the former Federal Reserve chairman who is advising the Obama administration, said the U.S. dollar’s role as the world’s reserve currency is likely not in jeopardy, but warned central bankers to keep a close eye on inflation.
Volcker made the comments about the dollar while speaking CLSA’s AsiaUSA Forum in San Francisco, according [...]