Finance counsels

Vietnam, the first country in Asia to release second-quarter growth numbers, will probably say its economic expansion accelerated in the period, foreshadowing likely recoveries in the rest of the region.
The economy grew 3.9 percent in the first half from a year earlier, according to the Ministry of Planning & Investment. That implies second-quarter […]

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France should restrain its budget deficit as its economy returns to “sluggish” growth next year, the International Monetary Fund said.
“The economic contraction is expected to slow in the remainder of 2009, followed by a sluggish return to growth beginning in early 2010,” the Washington-based agency said in a report released late yesterday. “A […]

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The U.S. economy shrank at an annual pace of 5.5% in the first quarter, the government said Thursday, a slower pace of decline than previously reported but still the second largest quarterly drop in 27 years.
Economists had expected a 5.7% drop, according to a consensus estimate from Briefing.com.
The first quarter of 2009 marked the […]

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Saks Fifth Avenue is cutting orders 20 percent after posting losses in the last four quarters. Kia Harris says some customers at the Washington shoe store where she works are buying one pair rather than three.
In the recession following a borrowing binge that sent consumer debt to the highest level ever, Americans are […]

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Eastman Kodak Co. said Monday that is retiring Kodachrome color film after 74 years on the market.
When Kodak (EK, Fortune 500) introduced Kodachrome in 1935, it became the first commercially successful color film. But with the rise of digital technology, Kodachrome sales are now just a fraction of 1% of the Kodak’s still-picture […]

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Bank of England Chief Economist Spencer Dale said the central bank’s program to buy assets with newly printed money is showing “encouraging” signs of helping the economy escape the recession.
The bank’s plan is “on track” for 125 billion pounds ($204 billion) in purchases by the end of July, Dale said at the Society […]

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Turkey’s economy may shrink 5.5 percent this year, the World Bank said today, predicting a deeper contraction than previously forecast.
The Washington-based institution lowered its gross domestic product forecast from a contraction of 2 percent forecast in March, according to its Global Development Finance report.
The bank forecast a return to growth in 2010 […]

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The World Bank raised its growth forecast for China this year and advised policy makers to delay until 2010 any additional stimulus plan to boost the world’s third-largest economy.
China’s economy will expand 7.2 percent in 2009 from a year earlier, up from a 6.5 percent forecast in March, the Washington-based lender said in […]

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The World Bank raised its growth forecast for China this year and advised policy makers to delay until 2010 any additional stimulus plan to boost the world’s third-largest economy.
China’s economy will expand 7.2 percent in 2009 from a year earlier, up from a 6.5 percent forecast in March, the Washington-based lender said in […]

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Covidien Ltd.’s Mallinckrodt Inc. unit based in Hazelwood and Nuvo Research Inc. of Canada have agreed to collaborate on developing two topical formulations of diclofenac, a non-steroidal anti-inflammatory drug used to treat pain. Covidien said Tuesday that the agreement is aimed at expanding its entry into the branded pain management market. One of the […]

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