Economy Today News

News Summary: India’s economic growth slows in 1Q

admin — Thu, 31 May 2012 18:58:00 +0000

SLOWDOWN: India’s economy grew 5.3 percent in the January-March quarter, the slowest rate in nine years

Cricket gets first prepaid iPhone in mainland US

admin — Thu, 31 May 2012 18:57:20 +0000

Leap Wireless International Inc., the parent of the Cricket cellphone service, on Thursday said it will be the first mainland U.S. phone company to sell the iPhone on a prepaid, no-contract basis.

News Summary: Graff Diamond puts IPO on hold

admin — Thu, 31 May 2012 18:51:49 +0000

IPO LUSTER DIMS: London jeweler Graff Diamonds is putting its $1.5 billion Hong Kong initial public stock offering on hold because of the steep sell-off in global stock markets.

GE Capital CEO says European risks “manageable”

admin — Thu, 31 May 2012 18:47:50 +0000

(Reuters) – General Electric Co’s finance arm expects Europe’s financial woes to take a toll on its profitability but regards the risk as “manageable,” the unit’s head, Michael Neal, told an investor conference on Thursday. “If trends continue — and there is no reason to think they won’t — in Europe, we will come under some pressure. We think it’s manageable,” the chief executive of GE Capital said. “We thought Europe was going to be this bad and we weren’t disappointed. …

Only 3 of 12 lots sold in Iraqi energy auction

admin — Thu, 31 May 2012 18:44:52 +0000

Iraq’s government signed deals for only three of 12 oil and natural gas exploration sites offered in a two-day energy auction that ended Thursday, reflecting reluctance of foreign bidders to risk their money in unexplored areas.

Here’s the Deal with Gold Prices

admin — Thu, 31 May 2012 18:41:47 +0000

Gold prices have slipped, and investors keep wondering how low they’ll go. Money Morning Chief Investment Strategist Keith Fitz-Gerald joined Fox Business’ “Varney & Co.” to discuss the factors keeping gold down. Fitz-Gerald said these two reasons are the main drivers behind lower gold prices. In this video he explains if those factors are long-term or not. He also discusses with host Stuart Varney how Europe may handle its debt crisis, how the strategies will further affect gold – and how the current market and economic statistics could influence election 2012.

To find out what to do with these tech stocks, check out this video.

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News Summary: Malaysia seeks $3.3B in palm oil IPO

admin — Thu, 31 May 2012 18:35:08 +0000

PALM OIL IPO: Malaysian palm oil giant Felda said Thursday its initial public stock offering in June could raise up to 10.5 billion ringgit ($3.3 billion), making it the world’s second-biggest IPO this year after Facebook’s $16 billion offering.

NYC proposes ban on sale of oversize sodas

admin — Thu, 31 May 2012 18:34:13 +0000

Mayor Michael Bloomberg is proposing a ban on the sale of large servings of soda and other sugary drinks in the city's restaurants, delis and movie theaters in one of his most aggressive efforts yet to fight obesity.

Made in Israel? Not a simple question

admin — Thu, 31 May 2012 18:33:32 +0000

For decades, Israel has marketed an array of cosmetics and food products manufactured in the occupied West Bank as "Made in Israel," blurring their true origins in Jewish settlements opposed by virtually the entire international community.

Ireland votes on austerity

admin — Thu, 31 May 2012 18:27:49 +0000

Irish people voted Thursday on whether or not their government should ratify the pact that holds them and other bailed out nations to adhere to tight spending limits and onerous repayment terms.