International Monetary Fund (IMF) on Tuesday lowered its British economic growth is expected, and suggested that the British Government in facing the economic downturn, slowing down the speed of deficit reduction. The IMF expects the 2011 British economy grew by only 1.1% below its June forecast of 1.5 percent growth rate; expected 2012 economic growth to 1.6 percent, lower than its June forecast of 2.3 percent growth rate. The IMF clearly pointed out that Britain is likely to fall into one of the three double-dip recession in developed economies, said the British economy back into recession probability is 17%. If the IMF forecast prove to be accurate, the 2011 Britain's economic performance will be weaker than in 2010, this growth rate is also lower than the 1.7 percent economic growth rate forecast in the UK Budget Report in March this year the British Chancellor of the Exchequer George • Osborne has hinted that he will lower its forecast for 2011 economic growth rate, but Osborne has so far refused to reconsider its deficit reduction plan.
Japanese Ministry of Land, Infrastructure and Transport on Tuesday released data show that affected by the earthquake and tsunami, until July 1, the average full-year Japanese residential land prices fell 3.2 percent, the highest in 20 years, the lowest levelWorld Steel Pipe , the average Japanese commercial land prices fell at the same time 4.0% decline for four consecutive months, but the decline in residential land and commercial land prices has slowed down below last year's 3.4 percent and 4.6 percent respectively. Japan's Ministry of Land, Infrastructure and Transport conducted a survey of 22 460 real estate projects in display Iwate, Miyagi, Fukushima Prefecture, and Chiba City real estate prices suffered a severe blow, mainly due to the earthquake disaster and nuclear power crisis, spa resort, Gifu Prefecture Takayama residential land prices fell 17.2 percent, marking the largest decline.
New York Times: U.S. Securities and Exchange Commission world pie network information , former chief legal adviser to criminal investigation
Guardian: International Monetary Fund lowered the British economic growth is expected
following September 21 the world's major media financial headlines:
U.S. Securities and Exchange Commission, former chief legal adviser, David Baker's behavior in the Bernard Madoff case submitted to the Ministry of Justice for criminal investigation to determine whether these actions are in violation of federal conflict of interest law. Baker in 2004, together with their brothers and inheritance have been implicated in a Madoff account in order to produce certain financial relationships with the Madoff, but this account soon after the inheritance is turned off. This measure was part of the Baker investigation, in order to understand the existence of financial relationships with the Madoff case is suitable for work related to Madoff. The 119-page report completed by the SFC Inspector General David Kotz, he wrote in the report to refer the matter to federal prosecutors before the Advisory Office of Government Ethics, the Office recommended to take such measures. The report, Baker participated in the recommendations of the Commission allocation of funds among victims of Madoff.
"USA Today": data show that the rich pay more taxes
India's Tata Group launched a Gold Nano car, worth 220 million rupees ($ 4,576,000). Tata Group CEO Tada Gold Nano car on Monday night, opening the car body is made from 80 kg, 22 kt gold and 15 kilograms of silver and rubies, pearls, jade, black pearls and other precious stones. The Tata Group, said the car is the one of the world's first gold gem car, on behalf of India over 5,000 years of jewelry making. Gold Nano car by Tata Group's Titan Industries Corporation production will be used for promotion and publicity of the company's brand. The common section of the Tata Group's Nano car average selling price of 140,000 rupees, is the world's cheapest car, spontaneous combustion accident last year.
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"The Times of India," Tata Group launched gold car
Daily Telegraph: UBS UBS shareholders to demand action to restore market confidence
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in the market expect the Fed will buy long-term government bailout of weak economic background, the U.S. Treasury prices rose Tuesday. While at the same time the IMF on Tuesday lowered the global growth is expected decision also forced the withdrawal of investors from the stock market, transferred to a more secure bond. The Fed's two-day policy meeting on Tuesday and Wednesday, likely to discuss a plan to stimulate the weak economy. Member of a large number of traders purchased the 10-year and 30-year U.S. Treasury bonds. They expected the central bank will sell short-term government bonds, and buy the government bonds of the production period. This will encourage investment, and make long-term Treasury prices rise. The goal of the Fed to drive down long-term bond yields. The 10-year bond yields determine the interest on mortgages and other loans. Lower interest rates will encourage Americans to lending, investment and consumer spending, which pulled the U.S. economy.
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"Washington Post": market expectations the Federal Reserve on Wednesday announced a stimulus plan, Treasury prices soared
Japan Times Japanese residential land prices fell to a 20-year low
holds 6.4 percent stake in UBS Singapore sovereign wealth fund GIC, in Singapore on Tuesday, including Oswald, CEO Gelu Bo Oswald, Gruebel UBS executives held a meeting. After the GIC issued a brief statement. In a statement, GIC has not called for the restructuring of the UBS Board of Directors, but said the unauthorized trading events lead to the the UBS great financial loss has been discussed at the meeting expressed disappointment and concern about the mistake of UBS, and urged UBS to take decisive action to restore the confidence of its. The statement is likely to increase the pressure of the UBS management, they are investigating the cause of this unauthorized transactions occurring internal vulnerabilities. Tuesday, the UBS Board of Directors appointed the Chairman of its internal risk management committee is responsible for the survey, the appointment by UBS shareholders' groups criticized because UBS's internal risk management committee responsible for the unauthorized transactions. According to Swiss media reports, Gelu Bo also plans to seek the UBS Board of Directors vote of confidence. The Gelu Bo's tenure in 2013, the reorganization of UBS.
"Financial Times": the Italian Government to encourage private sector investment services infrastructure
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investigative agencies and government data shows that the averaging operator the tax wealthy Americans to pay significantly more than the middle class or poor. As a whole, to pay the tax rate higher, the proportion of the total taxes levied by the federal government. According to the Congressional Budget Office data, 10 percent of the highest income households pay more than half of the federal tax, they pay more than 70 percent of the federal income tax. Obama in the White House speech on Monday to propose to Congress to review the tax code and the introduction of the so-called "Buffett rules" to increase taxes on the rich, he said that the annual income of more than 1 million residents to pay the tax rate should not be less than middle class. Washington, a think tank organization Tax Policy Center data, income of more than one million U.S. dollars, the average household will pay 29.1 percent of their income as federal tax, including income tax, payroll tax and other taxes. 50000-75000 households with income between them to pay only 15%. The proportion of low-income families to pay is lower.
Italian Finance Minister Giulio Tremonti Tuesday with representatives from industry, commerce and finance industry talks, and promised to provide financial assistance to encourage private sector investment in infrastructure and the Internet. Italian Prime Minister Silvio Berlusconi criticized in the previous Standard & Poor's cut Monday to cut Italy's sovereign credit rating actions, saying that the behavior is some kind of political discrimination. Italian government bonds after the downgrade of German government bonds spreads to expand and is currently approaching the level of the European Central Bank in early intervention to rescue the market. Stimulation of the Italian government aimed at the liberation of the services sector, and to pave the way for more privatization, the Italian government's stimulus plan, including the construction of an $ 8 billion euros from Venice to Rome highway. The IMF on Tuesday, Italy's GDP growth is expected from the previous 1.3% down to 0.3%. Standard & Poor's expects the economy will see a 0.6 percent shrinkage of the country in 2012.