The Dangerous Roads Of Morocco: Traffic Fatalities Very High In North African State
Two separate traffic accidents killed 16 people on Wednesday in Morocco , a country with an appallingly poor record of road safety. In one crash, 12 people died near the town of Youssoufia, when a truck driver lost control and smashed into a bus. Police arrested the driver, who was himself hurt
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Global Manufacturing Slumps On Lingering Euro Zone Debt Crisis
Global manufacturing has extended its decline into the second half of the year, with weakness in Europe and the Asia-Pacific region as the euro zone's debt crisis weighs on numerous economies. Euro zone purchasing managers index (PMI) numbers, which measure factory output, from Italy, Spain and Greece fell in June for their 11th straight month, Markit Economics said Wednesday. In Britain, factory output declined from 45.4 to a three-year low of 48.4 in July, according to Markit. Any reading below 50 indicates contraction.
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Greek And Spanish Ills Could Infect Entire Euro Zone: Moody’s
Developments in Greece and Spain could lead first to rating reviews and then to rating actions on all 17 countries in the euro zone, Moody's Investors Service announced Friday. Greece will conduct snap parliamentary elections on June 17, and Spain agreed to accept as much as €100 billion ($125 billion) in a bailout of its cash-strapped financials sector on Saturday. Any heightening in the risk of a possible Greek euro-area exit could lead to more rating pressures in the euro zone, Moody's said.
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China May CPI Rises At Slowest Pace In 2 Years, PPI Fell More Than Expected
China 's inflation cooled in May, giving Beijing more wiggle room to loosen policy and stimulate growth. The world's second-largest economy reported its consumer price index rose 3 percent in May from a year earlier -- the slowest pace in two years
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China’s May CPI Rises At Slowest Pace In 2 Years; PPI Fell More Than Expected
China 's inflation cooled in May, giving Beijing more wiggle room to loosen policy and stimulate growth. The world's second-largest economy reported its consumer price index rose 3 percent in May from a year earlier -- the slowest pace in two years. That was down from April's 3.4 percent increase and lower than economists' forecast of a 3.2 percent rise.
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US Trade Gap Shrinks In April, But Deficit With China Worsens
Lower U.S. demand for crude oil and petroleum products in April helped shrink the nation's balance-of-trade deficit from the previous month, the Commerce Department said Friday, but the trade deficit with China worsened.
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US Trade Deficit Improves In April: Commerce Dept.
Lower U.S. demand for crude oil and petroleum products in April helped shrink the nation's balance-of-trade deficit from the previous month, the Commerce Department said Friday.
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George Soros Speech ‘Most Important’ on the Euro Financial Crisis — Illustrated
After George Soros , the influential hedge fund manager, posted a speech he gave at an economics conference in Italy last week, the financial blogosphere and the mainstream media, including the New York Times and the Washington Post lit up -- mostly with praise. Joe Weisenthal, Business Insider's blogger, called it "brilliant," "dynamo" and "killer." On Twitter , Tony Fratto, a CNBC contributor and former treasury secretary, wrote that he'd "never had anything recommended to him more frequently." The speech begins with a wonky description of the state of modern economics and then dives deeply into an intriguing analysis of the European financial crisis -- and warns that there are only a few months left to resolve it or the debacle will bring down global economies with it. His assessment is novel: He sees the crisis as a political "bubble" that began to emerge with the very first steps of European unification; the road to this crisis, Soros says, was paved with the best of geopolitical intentions.
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