News Links 10/01/2011
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BBC News – Russia bleeds cash as investors pull out
Five months ago the Russian stock market was among the world’s top performer, peaking after a steady rise in share prices that had lasted since early 2009.
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BBC News – Compulsory retirement age at 65 fully abolished
The default retirement age in the UK has been fully abolished after being phased out from April this year.
New legislation stops employers from compulsorily retiring workers once they reach the age of 65.
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BBC News – Occupy Wall Street protests grow amid Radiohead rumour
An estimated 2,000 people have gathered in Lower Manhattan, New York, for the largest protest yet under the banner Occupy Wall Street.
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ECB Effort to Contain Crisis Is Complicated by Surprise Surge in Inflation – Bloomberg
European inflation unexpectedly accelerated to the fastest in almost three years in September, complicating the European Central Bank’s task as it fights the region’s worsening sovereign-debt crisis.
The euro-area inflation rate jumped to 3 percent this month from 2.5 percent in August, the European Union’s statistics office in Luxembourg said today in an initial estimate. -
China manufacturing eases for 3rd month, prices up | Reuters
(Reuters) – China’s manufacturing sector contracted for a third consecutive month in September, suggesting that the world’s second-largest economy is not immune to global headwinds, while factory inflation quickened.
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Aggressive style of JP Morgan boss may hurt bank cause | Reuters
(Reuters) – Masters of the universe are not always so masterful after all.
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Morgan Stanley falls hard on concerns about Europe | Reuters
(Reuters) – Morgan Stanley (MS.N) shares fell 10.5 percent on Friday, far more than comparable financial stocks, on concerns about its exposure to European banks.
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JPMorgan, BofA sued over mortgage debt losses | Reuters
(Reuters) – JPMorgan Chase & Co and Bank of America Corp were hit with new lawsuits by investors claiming losses on $4.5 billion of soured mortgage debt, adding to litigation targeting the two largest U.S. banks.
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SEC finds failures at credit raters | Reuters
(Reuters) – Securities and Exchange Commission staff found “apparent failures” at each of the 10 credit rating agencies they examined, including Standard & Poor’s, Moody’s, and Fitch, the agency said on Friday in its first annual report on credit raters.
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Bullard: Fed will act if economy weakens further
(Reuters) – The Federal Reserve will act if the economy weakens further and has the tools to do so, a top Fed official said on Friday.St. Louis Fed President James Bullard said he expects the economy
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Amazon tablet costs $209.63 to make, IHS estimates
SAN FRANCISCO (Reuters) – Amazon.com Inc’s new tablet computer costs $209.63 to make, IHS iSuppli estimated on Friday, but will sell for $199, highlighting how the e-commerce company is taking a financial
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ECRI Recession Call: ‘You Haven’t Seen Anything Yet’ – Real Time Economics – WSJ
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