New World Bank Chief Faces Struggle to Stay Relevant
President Obama’s nominee for the top slot of the World Bank was named to that post on Monday, but the challenges Jim Yong Kim faces will not just be those of running the institution but of keeping it relevant.
BRICS Hit West Over IMF, Policies
The BRICS were hitting Western nations on Thursday, pressing them for more voting rights at the IMF this year and assailing them over monetary policies they said put the stability of the global economy in danger.
Emerging Markets’ Growing Middle Class a Boon for U.S. Investors: Outlook 2012
During the 2012 outlook season, investment strategists and other market watchers have repeatedly taken note of the growing middle classes in China, Southeast Asia, India and Brazil.
EuroPac’s Schiff, Goldman’s O’Neill Split on Obama Jobs Plan
Predictions about the potential success of President Barack Obama’s jobs stimulus plan have come flooding in as commentators consider his $447 billion American Jobs Act proposal. Equally predictable has been the polarized response.
Greek Debt Swap Feared Short of Goal
Banks and insurers, who were supposed to declare Friday whether they would join the bond exchange that was a condition of a second bailout for Greece, were slow to declare themselves, and a shortfall was feared at midday.
Mobius Picks Best Emerging Markets, as G7 Growth Slows
The OECD issued a negative outlook for the major industrialized economies, but noted that emerging economies remained strong. While Mark Mobius, emerging markets guru, told investors where specifically they could grab on to that growth.
Japan Struggles to Restrain Yen, Considers Extra Budgets
Japan continued to warn investors that it would maintain tight control on the yen’s value, adding that another joint intervention by Tokyo together with other G7 nations would not be out of the question if it became necessary.
Japan Still Devastated but Outlook Hopeful
As Japan continued to battle an ongoing nuclear crisis in the wake of the earthquake and tsunami, its currency continued to fall on the world market thanks to a G7intervention on Friday, the first since 2000, that kept speculators at bay.
Yen Falls on G7 Intervention; Japan to Continue Loose Stance
As G7 leaders set in motion a coordinated intervention designed to halt the rise of the yen, Japan continued its own ultra-loose monetary policy, flooding banks with cash to keep interest rates low.
Global Gold Standard Suggested as Gold Hits New Highs
The president of the World Bank, Robert Zoellick, suggested in a piece in the Financial Times on Sunday that major economies should consider a return of sorts to the gold standard.