The Indian government has approved the purchase of 145 ultra-light M777 howitzers worth $ 560 million from the United States unit of British firm BAE Systems Inc.
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European Commission sees contraction in eurozone
May 12th, 2012 
admin The European Commission predicts the eurozone economy will shrink this year as the region’s debt crisis continues to take its toll.
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JP Morgan criticized for portfolio ties to Sudan
May 12th, 2012 admin JP Morgan saw its shares fall in trading over a risky investment strategy that has so far cost the bank $ 2 billion, but its continued association with PetroChina could cause more trouble.
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U.S. markets open lower sparked by trading losses at JP Morgan Chase
May 11th, 2012 admin Diane Alter – Fourth Estate Cooperative Reporter
New York City, NY, United States (4E) – U.S. stocks opened lower Friday morning after JP Morgan Chase’s trading losses spooked investors. Right after the opening bell on Wall Street, the Dow Jones Industrial Average dropped 64 points, the S&P 500 Index fell 6 points and the NASDAQ slid 2. JP Morgan Chase reported Thursday after the close a $ 2 billion loss. The banking giant’s CEO Jamie Dimon cited “errors” and “bad judgment” in trades meant to hedge risk. The loss damages JP Morgan’s reputation. The bank had weathered the financial crisis of 2008 in much better shape than it peers, but investors now are closely watching [...] Continue Reading…
Mortgage rates fall to new low–again
May 11th, 2012 admin Diane Alter – AHN News Reporter
Arlington, VA, United States (AHN) – Mortgage rates fell to new lows again for the week ended May 10, with the 30-year averaging 3.83 percent. Freddie Mac said in a statement Thursday, “Following April’s weaker than expected employment report and the French and Greek election results raising concerns over the stability of the eurozone, long-term Treasury bond yields declined, allowing fixed mortgage rates to ease to new all-time lows this week.” The rate for the 30-year averaged 3.84 percent in the prior week and 4.63 percent in the same period a year ago. Rates on the 15-year fixed mortgage averaged 3.05 percent in the latest week, down from 3.07 percent last [...] Continue Reading…
Tata plans production of cars that run on compressed air
May 11th, 2012 admin Indian carmaker Tata Motors announced Thursday the successful demonstration of a compressed air engine in two of its cars and is now poised to mass produce vehicles that run on compressed air.
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Nearly half of all Americans not earning enough to save for retirement
May 11th, 2012 admin Nearly half of all Americans say they are not contributing to a retirement plan, according to the latest survey by LIMRA, a trade association for the financial services industry.
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China sees exports and imports slow
May 11th, 2012 admin China saw growth in its exports slow to 4.9 percent in April, compared with 8.9 percent last year because of the slowing of economies around the world.
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Stocks rise Thursday after days of losses
May 10th, 2012 admin Diane Alter – AHN News Reporter
New York, NY, United States (AHN) – U.S. markets rose right out of the gate Thursday after several days of heavy losses. Just after the opening bell on Wall Street, the Dow Jones Industrial Average was up 40 points, the Standard & Poor’s 500 Index gained 8 points and the NASDAQ added 5. Investors have a slew of economic data to sift through Thursday. Market participants seemed to shrug off reports on the widening U.S. trade deficit and jobless claims data that came in pretty close to expectations. And then there was the ongoing uncertainty in Europe that has been plaguing markets for months, a weaker-than-expected report from China and a [...] Continue Reading…
Okada sees Philippine casino project beating Las Vegas’ Wynn Resorts
May 10th, 2012 admin Kazuo Okada has vowed to beat the Las Vegas casino operations of his estranged partner, U.S. gaming magnate Steve Wynn, with his own $ 2 billion casino in the Philippines.
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