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German coalition at odds over Greek debt

German Finance Minister Wolfgang Schaeuble rapped his colleague’s handling of the economy Saturday for talking about Greek default, exposing a growing rift in Chancellor Angela Merkel’s coalition. Schaeuble, a member of Merkel’s Christian Democrat party and one of the most influential ministers in her cabinet, took issue with Philipp Roesler, leader of the Free Democrats, in an interview with the weekly Bild am Sonntag. Roesler panicked the markets on Monday after saying that Europe could no longer rule out an “orderly default” by Greece on its huge debt repayment

September 17, 2011 / Comments Off / Read More

Obama: Pass jobs bill without ‘division or delay’

September 17, 2011 Comments Off

WASHINGTON (AP) — Doubling down on his economic agenda, President Barack Obama on Saturday kept up his appeal for public support of his $447 billion proposal to boost jobs and consumer spending, calling on Americans to press Congress to pass the legislation. In his weekly radio and Internet address, Obama reiterated a message that has become a central focus of his presidency amid stubbornly high unemployment numbers and dipping approval over his handling of the economy. The president announced his jobs legislation to a joint session of Congress last week and has since gone outside Washington to build a case for its passage.

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Moody’s to conclude Italy review within month

September 16, 2011 Comments Off

NEW YORK (Reuters) – Moody’s Investors Service on Friday said it would finish reviewing Italy’s Aa2 sovereign currency credit rating for possible downgrade within the next month, saying Italy faces a challenging economic and financial environment. Moody’s put Italy’s rating on review in June, and fear that it would downgrade the country, the third largest economy in the euro zone, this week sent Italian and French bank shares down sharply

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Mall group predicts holiday spending up 3 percent

September 16, 2011 Comments Off

NEW YORK (AP) — The International Council of Shopping Centers said it expects holiday sales to increase 3 percent this year. That’s a slower pace than the 4.1 percent gain in 2010 as many shoppers are expected to remain worried about the economy.

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Clinton: Women the key to economic growth

September 16, 2011 Comments Off

SAN FRANCISCO (AP) — Women are the great untapped resource that can help the global economy recover and expand, Secretary of State Hillary Rodham Clinton said Friday as the U.S.

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Gov names Iowa economic development panel

September 16, 2011 Comments Off

DES MOINES, Iowa (AP) — Gov.

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G20 will not issue communique on crisis: sources

September 16, 2011 Comments Off

(Reuters) – The Group of 20 leading economies will not issue a communique on the current financial crisis and the global economy after their meetings in Washington next week, Western G20 sources said on Friday. G20 finance ministers and central bankers will discuss global economic woes at a dinner on Thursday, September 22, but are not planning a statement afterward, said the sources, speaking on condition of anonymity

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Sector Snap: Lodging sector

September 16, 2011 Comments Off

NEW YORK (AP) — There are buying opportunities in the lodging sector thanks partly to improving occupancy levels and solid growth for a key revenue metric, an analyst said Friday. But he cautioned that wavering economic conditions could still weigh on the group.

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Hungary plans 2012 budget gap at 2.5 pct of GDP

September 16, 2011 Comments Off

BUDAPEST, Hungary (AP) — Hungary’s economy minister says the 2012 budget plan sets a deficit target of 2.5 percent of gross domestic product, while raising the general value-added tax from 25 to 27 percent, the highest in the European Union.

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Consumer expectations will weigh on spending: Curtin

September 16, 2011 Comments Off

WASHINGTON (Reuters) – The index of leading U.S. economic indicators could weaken as depressed consumer confidence leads Americans to shut their wallets, said Richard Curtin, who directs the Thomson Reuters/University of Michigan consumer sentiment survey. U.S.

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