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Tag Archives: global markets

IMF raises growth forecast, but remains cautious

BEIJING — The global economy is recovering faster than expected but Europe’s debt crisis might stall the rebound and governments need to shore up shaky public confidence, the International Monetary Fund said today. The IMF raised its 2010 world growth forecast to 4.6 percent from 4.2 percent in April and boosted estimates for the United States and China. But its ...

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Cochran pushing for end to Russian poultry ban

WASHINGTON — Sen. Thad Cochran (R-Miss.) yesterday said President Obama should pressure the Russian government to end its ban on poultry products imported from the United States. Cochran is among a bipartisan group of 25 senators who wrote the President urging him to address Russian trade barriers on U.S. poultry products during upcoming meetings with Russian President Dmitry Medvedev. In ...

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Oil prices rise on investor confidence

SINGAPORE — Oil prices rose above $75 a barrel today in Asia as rallying stock markets and a stronger euro bolstered investor confidence. Benchmark crude for July delivery was up $1.33 to $75.11 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract dropped $1.70 to settle at $73.78 on Friday. Major ...

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Stock futures point to more selling

NEW YORK — Futures pointed to further selling today after major stock indexes posted their biggest drop in more than a year and pushed the market to “correction” mode. Investors again looked to Europe for direction. The lower house of Germany’s parliament approved its share of a $1 trillion plan to help contain debt problems in Europe but major European ...

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PepsiCo to invest another $2.5B in China

NEW YORK — PepsiCo Inc. said today that it plans to invest an additional $2.5 billion in China in the next three years as the food and beverage maker looks to boost its presence in the growing market. The company’s overseas business has become a strong factor in its success, with PepsiCo reporting last month that international growth pushed its ...

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Stock futures continue to fall

A sell-off in stock futures accelerated today as the euro resumed its fall. The drop in futures comes ahead of the Labor Department’s weekly unemployment report that is expected to show initial claims for jobless benefits dipped modestly last week. Investors are focusing more on the health of Europe’s economy than the ongoing domestic recovery, which had driven stocks higher ...

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Stock futures tumble on European concerns

NEW YORK — Stock futures are tumbling a day after Germany banned a form of short selling as part of an effort to try to stabilize Europe’s weakening currency. However, the move has not brought relief to investors. European markets plummeted today and the euro hit a new four-year low. The euro fell as low as $1.2146 before rebounding slightly. ...

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Foreign markets rise on Wall Street rally

LONDON — World stock markets mostly rose today in the wake of a strong late rally on Wall Street and a modest rebound in the euro, but fears about Europe’s government debt crisis will continue to weigh heavily on investors as EU finance ministers gather in Brussels. In Europe, the FTSE 100 index of leading British shares was up 30.73 ...

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Investors remain nervous about world markets

NEW YORK — Stock futures traded in a narrow range today as investors remain cautious about the health of Europe’s economy. The euro, used by 16 countries in Europe, fell to a four-year low, though major European stock indexes rose. Investors are grappling with whether severe budget cuts in countries like Greece, Spain and Portugal will drag Europe into a ...

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Stocks retreat on European worries

NEW YORK — Concerns about how austerity measures in Europe might slow the continent’s economy are catching up with stock markets worldwide. Stock futures fell today. Currency traders have been moving out of the euro throughout the week because of concerns that strict cost-cutting measures in countries like Greece, Spain and Portugal will slow the continent’s economy to a crawl ...

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