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- U.S. presidential debate is cause for concern in Europe
A strong showing by Republican Mitt Romney in Wednesday night's U.S. presidential debate unsettled European leaders accustomed to working closely with the Obama administration seeking ways out of the eurozone debt crisis. Center-left governments across the continent also are more generally aligned with Democratic policy on a range of issues than with Republican thinking. Reuters
(10/4)
    
- ECB leaves rate unchanged; Draghi touts bond buying
European Central Bank policymakers left the bank's benchmark rate at 0.75% Thursday as President Mario Draghi said, in remarks possibly directed at Spain, that the ECB stands ready to buy sovereign bonds as soon as governments meet the necessary conditions. In more general comments, Draghi said that the bank had done its part in trying to restore confidence in the common currency and that it was now up to governments to fulfill their portion of the task. Bloomberg Businessweek
(10/4)
, Reuters
(10/4)
, The Wall Street Journal
(10/4)
- EU, Spain's central bank question Spanish budget outlook
European overseers and Spain's central bank cast doubt on the Spanish government's 2013 budget plan, saying its projections for the economy are too optimistic. In question is whether Spain can realistically trim its budget deficit to 4.5% of gross domestic product. "This outlook ... is certainly optimistic in comparison with the outlook shared by the majority of international organizations and analysts," commented central bank Governor Luis Maria Linde. Bloomberg
(10/4)
, Reuters
(10/4)
- U.S. unemployment claims creep up
Only tepid U.S. job growth is evident in the latest figure for initial claims for unemployment benefits. The 367,000 claims recorded last week were up from 363,000 the previous week, supporting forecasts that the U.S. jobless rate for September is likely to register near the 8.1% reported for August. Los Angeles Times(tiered subscription model)
(10/4)
- U.S. factory orders plunge 5.2%
Registering the biggest drop in more than three years, U.S. factory orders for August were down 5.2%, dragged lower by sharp declines in demand for aircraft and cars. "Uncertainty regarding the election, the fiscal cliff and the debt ceiling may be keeping firms more cautious and less likely to increase capital spending," said Scott J. Brown, chief economist at Raymond James & Associates. The Wall Street Journal
(10/4)
- India's big bang takes another step toward realization
India's big-bang reforms took another big step toward fruition, with the Cabinet approving a pensions bill allowing 26% foreign direct investment as well as all amendments to an insurance bill that permits 49% FDI. The next step is parliamentary approval, where hopes are high that passage will come during the winter session. The Economic Times (India)
(10/4)
- IMF economist projects only a drawn-out global recovery
Global economic recovery from the 2008 meltdown is likely to take a full decade, projects Olivier Blanchard, the International Monetary Fund's chief economist. Among the roadblocks to faster healing are a sluggish Chinese economy, the eurozone crisis and debt-hobbled economies in the U.S. and Japan. "It's not yet a lost decade, but it will surely take at least a decade from the beginning of the crisis for the world economy to get back to decent shape," Blanchard said. The Guardian (London)
(10/3)
, The Telegraph (London)
(10/3)
- Analysis: U.S. jobs report could point to what next president will do
Today's U.S. unemployment report will reveal what has been accomplished and what remains to be done in regenerating the U.S. job market, writes professor Peter Morici of the Robert H. Smith School of Business at the University of Maryland. At the heart of the persistently high jobless rate is the U.S. trade deficit, where a concerted effort to the narrow the gap as proposed by Mitt Romney could do much to boost growth and revive the labor market, Morici writes. TheStreet.com
(10/4)
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- INTERNATIONAL MARKETS OVERVIEW
With the European Central Bank and the Bank of England leaving interest rates unchanged, European shares largely followed suit Thursday, with the Stoxx Europe 600 ending steady at 271.33. In the U.S., investors took heart from ECB President Mario Draghi's statement that his bank stood ready with its bond-buying plan. The S&P 500 rose 0.72% to 1,461.40. Here is a continuously updated list of global stock indexes. The Wall Street Journal
(10/4)
, Reuters
(10/4)
- Asian shares get a lift from Japanese, U.S. cues
Taking a cue from a rise in Japanese auto exports and U.S. stock futures lifted by Republican presidential candidate Mitt Romney's strong performance in Wednesday night's presidential debate, shares across Asia ended the day mostly higher Thursday. The Nikkei jumped 0.89% to 8,824.59, the S&P/ASX rose 0.31% to 4,452.40, the Hang Seng edged up 0.09% to 20,907.95, and the Kospi declined 0.17% to 1,992.68. MarketWatch
(10/4)
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- StanChart-Temasek discord over directors comes to the fore
Singapore state investment body Temasek has been lobbying for more independent directors at Standard Chartered Bank. But StanChart says Temasek, its biggest shareholder, merely misunderstood U.K. corporate governance rules when it declined to vote at a May meeting to re-elect board members. A source previously said the abstention was intended as a sign of displeasure. The Wall Street Journal
(10/4)
| People & Personalities
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- Chris Ryan to head MSCI operations in Asia-Pacific
MSCI has tapped Chris Ryan as its new chief for Asia-Pacific with the mandate to push growth in three main product lines. Ryan previously was chief of Australian-listed asset manager Perpetual. In the new job, he succeeds Deborah Yang, who will take up the newly created role of managing MSCI's Europe, Middle East and Africa index business in Paris. AsianInvestor.net
(10/4)
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CFA Institute Financial NewsBrief: Asia Pacific Edition Issues:
- Thursday, October 04, 2012
- Wednesday, October 03, 2012
- Tuesday, October 02, 2012
- Monday, October 01, 2012
- Friday, September 28, 2012
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