Macmahon Shares Slips as CEO Quits, Slashed Targets
Shares of Macmahon Holdings Ltd. fell deep on Wednesday morning after the Australia n construction and mining firm announced it is cutting into half its full year earnings estimate guidance for 2012-13 and that its chief executive, Nick Bowen, has resigned.
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The US Dollar: A Titanic Disaster
One hundred years ago, the Titanic slipped below the frigid waters of the North Atlantic Ocean. That's roughly the same moment when the US dollar also hit an iceberg
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Mamata Walks Out: Coalition Partner Withdraws From Indian Government
A key member of India ’s ruling coalition has withdrawn its support of the government over its economic and energy policies, raising fears about the stability of Prime Minister Manmohan Singh’s fragile administration. Mamata Banerjee, the chief minister of the state of West Bengal, declared that her party, the All India Trinamool Congress -- currently the second-largest segment of the ruling United Progressive Alliance (UPA) coalition -- could no longer cooperate with the UPA.
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Did Fannie Mae Overpay Bank Of America For Servicing Rights?
Fannie Mae agreed to pay Bank of America Corp.
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What Classic Action Movies Say About The Economy
Popular art often mirrors common ideas about current economic affairs and reflects the conventional wisdom guiding public opinion. This is particularly true of film. Influential critic David Bordwell makes some excellent points about how filmmakers might try to anticipate and react to popular political attitudes -- classic (and soon-to-be classic) action movies are a case in point.
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Global Investors Fear US ‘Fiscal Cliff’ More than European Sovereign Debt Crisis – BoA ML Survey
US budget woes overtake European debt crisis on list of global investor concerns. The biggest concern for global investors as they head into the final quarter of the year is the impending "fiscal cliff" in the United States, according to the latest Bank of America Merrill Lynch fund manager survey, supplanting the on-going sovereign debt crisis in Europe for first time in 18 months. Just over 35 percent of the respondents to the benchmark BofA Merrill Lynch cited the impending fiscal trigger in the US as the biggest "tail risk" to their investment performance, two percentage points higher than the European debt crisis. And while investors seem generally splits as to whether the Eurozone economy will improve over the next twelve months, globally they're betting on European stocks outperforming other markets during that time, making the first "overweight" (i.e
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Shares of Japanese Firms Fall Following China Protests
Locals stand next to a Nissan car dealership store after it was hit by anti- Japan protesters in Qingdao (Reuters) The shares of some of the Japan ese firms which have been forced to suspend their businesses in China following protests have fallen in Tokyo as the crisis threatens to derail the trade relationship between the two countries. Nissan shares slumped 5.01 percent while Honda fell 2.51 percent.
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UK Inflation Drops to 2.5% in August
Bank of England forecasts show inflation reaching the government's 2 percent target in 2013 (Reuters) UK inflation fell to 2.5 percent in August, returning to a downward trend after rising unexpectedly the month before. The Bank of England , which has responsibility for controlling inflation, said it is likely to meet the government's 2 percent target in 2013. "The largest downward pressures behind the change in the CPI rate came from furniture, household equipment & maintenance, housing & household services (particularly domestic gas) and clothing & footwear," said the Office for National Statistics (ONS) in its Consumer Price Indicies (CPI) report
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Homeless Families Living in B&Bs up by 44 Percent
The number of homeless families put up in temporary bed and breakfast (B&B) accommodation has increased by almost half in the first three months of 2012. The National Housing Federation said in a release that 3,960 families were living in B&Bs during this period, an increase of 44 percent from the same period in the previous year. The years 2011 and 2012 had seen the total number of homeless people rise for the first time in seven years, up by 26 percent.
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