Clothing shops close their doors

Fleur’t Boutique in North Scottdale and Spoken Boutique in downtown Phoenix are closing their doors.
Fleur’t Boutique will be closing its doors at the end of April at Gainey Village Shops. A liquidation sale will start on Friday with items sold at 20 to 50 percent off retail prices.
Under the ownership of Kori Davidson, the boutique […]

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Trusting science on climate change

Those beating the global warming drum have sure taken a few lumps lately.
First there were the hacked e-mails from climate scientists, which critics say show an effort to massage some data and keep some scientists out of the debate.
Then there was an admission from the Untied Nations’ top climate body saying that it […]

Student loan provider offers online savings

Students can now pay their college loans and save with Sallie Mae.
The largest U.S. student loan company took its first steps into retail banking Tuesday with the launch of two new online savings accounts.
The Reston, Va.-based company said it will offer high-yield savings accounts with a 1.35% interest rate and certificates of deposit […]

Pakistan May Offer $1 Billion Debt, Sell State Assets

Pakistan may offer as much as $1 billion of bonds and resume selling state assets in the coming months, Finance Minister Shaukat Tarin said, as the government forecasts a widening budget deficit amid rising war costs.
“We have made all the arrangements and we will conduct roadshows in the next couple of months,” Tarin […]

A Morgan Stanley star falls in China

In the end, Garth Peterson, a rising star at Morgan Stanley in China, was undone by his pursuit of “guanxi.”
A central concept in Chinese society, guanxi loosely translates as “connections” and relationships.” But to Chinese people, it means much more than that: Guanxi equals power.
“Sometimes, money cannot buy you guanxi. But if you have […]

Draghi’s Drive on Banker Bonuses Boosts Possible ECB Candidacy

Mario Draghi’s drive to rein back bankers’ pay is pushing him to the forefront of candidates to succeed Jean-Claude Trichet as head of the European Central Bank.
Italian Foreign Minister Franco Frattini on Sept. 29 backed the country’s central bank chief to run the ECB when Trichet’s term expires in 2011, the first time […]

Ruble Devaluation Won’t Fix Russia’s Economic Woes, EBRD Says

A ruble devaluation won’t solve Russia’s economic problems as the world’s largest energy exporter faces “a very difficult next couple of years,” said European Bank for Reconstruction and Development Chief Economist Erik Berglof.
“This is the wrong way to think about the recovery in Russia,” Berglof said in a Sept. 10 interview in London. […]

Noda Says BOJ Should Avoid Ending Credit Policy Early

Bank of Japan board member Tadao Noda said the central bank shouldn’t end its emergency credit programs prematurely because that could stymie a recovery.
“We need to avoid ending measures too early,” Noda said in a speech today in Matsumoto, central Japan. Still, “having extraordinary policies in place for too long may prevent the […]

Taylor Says Fed Gets Rule Right, Goldman Doesn’t

John Taylor has a message for economists who say Ben S. Bernanke is ignoring a benchmark guide for interest rates: They’re wrong.
Taylor should know: He wrote the rule.
Economists from Goldman Sachs Group Inc., Macroeconomic Advisers LLC, Deutsche Bank Securities Inc. and even the San Francisco Federal Reserve Bank argue the Taylor Rule, […]

BOJ to Consider Ending Credit Steps Individually, Minutes Show

Bank of Japan is likely to consider when to end its three unprecedented credit programs separately, minutes show.
“Since each measure was different in its purpose and framework and in its effects on financial markets and overall financial conditions, the future of the measures should not be examined collectively but individually,” members said in […]