PODCAST: Changes in Iran, a big flush in Zimbabwe
Monday, September 24, 2012 - 09:37 Iran's president Mahmoud Ahmedinijad is in New York this week. He'll speak to the U.N. General Assembly -- that's always an event. But he's not invited to another key meeting, where world leaders will discuss what's next for oil sanctions against Iran . Lately we've charted the struggles of luxury companies like Tiffany and Burberry. Not so at Prada , evidently. Prada profits were up 60 percent in the first half of the year. Apple sold more than five million iPhone 5s in the three days since Friday's launch. Discover Card users may have a little extra "cash-back" coming. The federal government has ordered Discover to refund $200 million to customers. They say Discover used misleading marketing to get people to pay for add-on products like identity theft protection and credit score tracking. A federal court in Australia has found Lehman Brothers liable for damages in a class action suit. It's the first case of its kind against the defunct U.S. investment ...
BOJ's Kuroda urges action on public spending, revenue
TOKYO - The Bank of Japan governor urged the government on Tuesday to take steps on both revenue and spending as public finances are on an unsustainable path.
Found 1 month ago on channel Reuters
The Post Office’s Biggest Problem Isn’t Saturday Delivery — It’s Congress
It may seem like the United States Postal Service is unwilling to adapt to a world of declining mail volume and increased digital communication. But the real obstacle in the way of true reform aren’t the folks running the postal service itself. It’s their bosses in the U.S. Congress. Postmaster General Patrick Donahoe is like a man waiting for a package that never arrives. Donahoe, who has led the U.S.P.S. since 2010, has over the past few years made numerous proposals to get the money-losing postal service back in the black. He’s suggested closing post offices, modernizing post offices, “village” post offices, increased postal rates, decreased services, a reduced workforce, and a number of digital approaches involving tracking packages, QR codes, and mobile solutions. (MORE: How ‘Made in the U.S.A.’ is Making a Comeback) But there’s only so much the Post Office can do on its own to reduce the billions it loses every year. (Last year it lost $16 billion.) Congress holds ...
It is incongruous that, just as governments around the world lurch to the left, becoming heavily involved in governing financial markets, macroeconomic research – which studies the impact of significant actions and major trends in the political and economic spheres – is having a seizure. Such a mass of material for study, rather than driving the discipline, is disrobing it, say market veterans. Its harshest critics say macroeconomic research is the finance industry’s final fig leaf covering the uncomfortable truth that even those with experience and training have little-to-no idea about the way markets are affected by shifting patterns in economics or politics.
Japan’s Nikkei Jumps Above 13,000 on BOJ Stimulus
(BANGKOK) — Japan’s benchmark stock index surged above 13,000 for the first time in more than four years Friday, a day after the country’s central bank announced aggressive action to lift the economy out of an extended slump. The Bank of Japan unveiled plans Thursday to pump huge amounts of money into the financial system in order to spur spending and borrowing in an economy that has suffered from growth-crippling deflation for years. The central bank’s announcement dragged down the yen, giving a boost to shares of Japan’s powerhouse manufacturers. A cheaper currency makes Japanese goods less costly for Americans and other foreigners and raises the value of repatriated profits. The Nikkei 225 in Tokyo soared 3.8 percent to 13,109.58, its highest level since August 2008. The dollar rose to 97.06 yen from 96.13 yen late Thursday. The dollar was at about 92.80 before the BOJ’s two-day policy meeting ended with its dramatic announcements Thursday. (MORE: Japan Central Bank Revamps ...