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Economics focus: A stimulating question Can emerging economies now afford counter-cyclical policies?IN JUNE 2002 the World Bank staged a headline bout between two heavyweight economists. In one corner was the IMF’s chief economist, Kenneth Rogoff; in the other, the IMF’s chief critic, Joseph Stiglitz. The subject of their fight was the emerging-market crises of the 1990s. Mr Stiglitz accused the fund of fanning the flames by prescribing fiscal austerity and tight money. He, by contrast, advocated “counter-cyclical policies”—lower interest rates and undiminished public spending, which might offset a collapse in private demand.The fund had meekly absorbed round after round of punishment from Mr Stiglitz. So it startled everyone when the IMF’s chief economist came off the ropes to land some stinging criticisms of his own. He ridiculed what he called the Stiglitzian prescription: “You seem to believe that if a distressed government issues more currency, its citizens will suddenly think i EconomistLaid off at 50: What next? Jerry Prine has always been a successful guy, rising to senior marketing executive at Wang Labs and the Harris Corp. before helping to launch a wireless start-up. His wife Lisa never had to work; he has nearly paid off their $500,000 house in Atlanta and put both his daughters through private colleges. CNN MoneyEli Lilly sees FY08 loss on charges related to ImClone acquisition - Update2 Drug maker Eli Lilly & Co. on Thursday lowered its earnings outlook for fiscal year 2008 and now forecasts a net loss for the year on charges related to its $6.5 billion purchase of cancer drug developer ImClone Systems Inc. Excluding one-time costs, the company reiterated its earnings outlook for the year. The company also predicted a profit for fiscal year 2009, but said it expects reported sales for the year to grow in the low-single digits due to the negative impact of weaker foreign currenc RTT NewsJED Oil Announces Asset Sale JED Oil Inc. has signed an agreement to sell the oil and gas assets held by the Company and its two whollyowned subsidiaries JED Production Inc. and JED Oil USA Inc. located in the Ferrier and Wi Oil VoiceOur Relationship With The MallThe Washington Post Gildan Activewear Q4 profit halves on charges; guides Q1, FY09 EPS sharply below consensus - Update Canadian apparel manufacturer Gildan Activewear Inc. announced Thursday morning that profit for the fourth quarter nearly halved from last year, hurt by restructuring and income tax charges, despite a 27.4% sales growth. Adjusted earnings per share grew from last year, but missed analysts' expectations by two cents. The company also provided its initial earnings forecast for the first quarter of fiscal 2009 and for the full year, sharply below analysts' consensus. RTT NewsAIG CEO Liddy Says Asset Sales May Be Delayed The CEO of U.S. insurer American International Group (AIG), which is looking to shed assets around the globe as part of a $152 billion U.S. government rescue package, said that difficult markets ... Insurancejournal.comAIG CEO says asset sales may be delayed (Reuters) The CEO of U.S. insurer AIG , which is looking to shed assets around the globe as part of a $152 billion U.S. government rescue package, said that difficult markets may delay the sale plans, though certain units have attracted heavy interest. yahoo.comAnadarko Closes Peregrino Sale Anadarko Petroleum Corporation has completed the previously announced sale of its 50percent interest in the Peregrino heavyoil field offshore Brazil to StatoilHydro and received approximately 1.4 Oil VoiceFurther reading Elsewhere on Thursday:- 8 really, really scary predictions for 2009- Quelle surprise! Banks increase 'mark to make-believe' assets to $610bn- Lehman and AIG asset sales: It isn't working out exactly as the government may have intended- The key event of the past week was the chastising of the US Treasury secretary Hank Paulson by Zhou Xiaochuan,... FT1 2 3 4 5 |
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Feedzilla is a news aggregator which categorizes news stories by topic. It is a platform where webmasters and bloggers can find an unmatched selection of easy to use, automatically updating and professional news widgets for their sites. Feedzilla supports the building of widgets in various formats, as well as allowing the addition of news widgets to different blogging platforms and social networks.
Feedzilla manually aggregates news summaries found in RSS feeds, and redistributes them in either RSS format or as a news widget. Content is collected 24 hours a day, 7 days a week from an ever-growing list of providers.
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9th of September 2009 - Interview of Feedzilla's founder at the IFA in Berlin. [More]