"Japan Times" Moody's lowered Japan's sovereign credit rating
Moody's Investors Service on Wednesday announced that Japan's debt rating lowered from Aa2 to Aa3 by that Japan's huge budget deficit, increasing debt burden, the unstable political situation, a serious impediment to economic reform. First cut Japan's sovereign rating Moody's nine years, also announced that Japan's debt rating outlook as stable, This upsets the financial stability of the Japanese economy, but the Tokyo bond market reacted calmly. Moody's said in the report, the past five years, the Japanese Prime Minister frequent changes, hindering the government to implement long-term economic and fiscal strategy, the March 11 earthquake and tsunami hindered Japan's recovery from the global recession, exacerbated the deflationary situation .
Apple on Wednesday announced the resignation of co-founder and CEO Steve Jobs. Chief Operating Officer Tim Cook will take over their jobs. In a letter to the Apple board members and the "Apple Community" letter, Jobs said that if the Board considers appropriate, he is willing to continue as chairman and Apple employees. 56-year-old Jobs has pancreatic cancer surgery in 2004 to accept a liver transplant in early 2004. According to those who understand his situation World pipe network reported that the world's steel pipe network to provide the world's steel pipe network editor , Jobs in recent years the health situation has gone through big ups and downs. Since the beginning of the end of January this year in which the sick leave, Steve Jobs is still on many other occasions, announced that Apple's new products. Jobs' day-to-day operations at Apple the level of participation is not clear. Jobs said in the letter: "I believe the days of Apple's most innovative and brightest in front. I also hope to be able to see it all, and continue on a new role for the success of Apple's contribution to the force "
"USA Today": the French legislation, the rich tax increase
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"Financial Times": the gold within two days fallen a drop of nearly 30 years since the record $ 160
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appeal in parts of France, the rich from the Government to a tax increase, the French Parliament has legislated to 3 percent additional tax on income of more than 720,000 U.S. dollars. This tax will remain in effect until the French to reduce its budget deficit to below the upper limit of the EU requirements. 3% of the gross domestic product (GDP). The move stems from the 16 company executives and investors jointly published in the weekly "Le Nouvel Observateur" (NouvelObservateur) petition to call on their top rich countries to make "special contribution". But they also warned lawmakers do not enact strict surtax, because it will lead to the avoidance or procure the rich leave. Earlier this month, Buffett urged the U.S. government to increase taxation on himself and other high-income groups, the U.S. government to help promote the cost-cutting plan. The U.S. Congress has not adopted the recommendation of Warren Buffett.
Europe, several major banks the cost of liability insurance has reached record levels, even higher than the record set during the financial crisis. Wednesday, the Royal Bank of Scotland, BNP Paribas, Deutsche Bank and the Italian Intesa Sanpaolo Bank, Bank Bond credit default swaps (CDS) on the banking sector risks a warning signal. Royal Bank of Scotland credit default swaps (CDS) prices rose to 343.54 basis points, this means ensuring that the banks £ 10 million of bonds from breach of contract, the annual cost of £ 343,540. At present, the Royal Bank of Scotland insurance costs of the bonds is higher than October 2008, the British government to save the banks, its capital injection, which indicates that the credit investor confidence in banks and a sharp decline. A senior bank executives said the main reason for the current plight of the bank is a shortage of liquidity, which is the same feeling during the financial crisis in 2008.
gold price within two days had fallen to $ 160, Tuesday, Wednesday ounce decline in 30 years of records. Announced in the United States Commodity Exchange will improve the margin rate in the after market close on Thursday, investors may be at greater risk. Spot gold fell to $ 1,750.55 an ounce, down $ 160.91 from $ 1,911.46 Monday. The last time a similar decline occurred in January 1980. The proportion of the past two days, gold has fallen 8.4 percent, ranking the largest since the 1980s one of the 10 drop. Analysts believe that from selling first from Asia, the Shanghai Gold Exchange in continuous two-day rise, investors began to sell-off on Wednesday night CME announced that it will increase the gold futures margin rate of 27%.
become more pessimistic about the prospects for economic development and future financial position, the British consumer is shelved the purchase of commodities. All England Housing Mortgage Association (the Nationwide Building Society) survey released Thursday shows that even before the unrest and financial instability occurred in London, the British on the economy has become more pessimistic. The association survey found that UK July consumer confidence fell to the level of the beginning of this year, but improved in the second half of this year is extremely unlikely. The association announced the July consumer confidence index fell to 49, well below the 79 long-term average, and nearly hit a record low in February 41. The association said consumers expected their home values fell 0.4 percent in the next six months, which partly explains the reason they set aside the purchase of commodities. This year, the British consumer confidence by the tax increase, wage increase fatigue and energy expenditure increased by a multiple blow. British Official figures released in July, the UK's second-quarter economic environment, an increase of 0.2 percent and 0.7 percent over the same period last year.
Guardian: British consumers are on hold commodities to buy
"New York Times: Steve Jobs resigned from Apple CEO job
U.S. budget deficit in fiscal 2011 will be a record $ 1.3 trillion in history, but the party neutral Congressional Budget Office said that, if adopted by the Bush-era tax cuts and other measures planned to exit, then the deficit in the next 10 During the year will be significantly reduced. Adhere to the bill signed by Obama is expected to cut $ 3.3 trillion deficit over the next decade, but to realize must be accompanied by a series of tax cuts and other fiscal measures to increase. The Budget Office also predicted that economic growth over the next few years will be weak, the unemployment rate from 9.2% to 8.5% of the 2012 fourth quarter, the U.S. economy will grow 2.3 percent this year, next year will grow by 2.7 percent, from 2013 to 2016 period The average growth rate of 3.6%.
Reserve Bank of India said that the increased risk of non-performing loans of the Bank of India has triggered concern that problems in certain sectors. In Zhou Sanmeng buy to hold meeting of the Federation of Indian Chambers of Commerce and Industry International Bankers Association, said India's central bank vice governor Anand Sinha, the outside world is expected that the non-performing assets will continue to increase, but the Reserve Bank of India is not considered a systemic problem that some departments did not increase the cost of financing to the lender, resulting in pressure on small loans, retail loans and loans to SMEs pressure. According to a study by the Boston Consulting Group, India's small banks breach housing loans accounted for about 5% of total loans.
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"The Times of India" India's central bank said the increase in bad loans caused concern
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Washington Post: U.S World Pipe network informed. fiscal year 2011 deficit will create $ 1.3 trillion records