| Economic News NIESR Trims U.K. Growth Outlook The National Institute of Economic and Social Research (NIESR) on Thursday trimmed the growth estimate for the U.K. economy. (Nov 3, 2011) Full Article    Swiss Q3 UBS Real Estate Bubble Index Rises The Swiss real estate bubble index rose in the third quarter, signaling a continuing boom on the real estate market, the UBS bank said Thursday. (Nov 3, 2011) Full Article Spanish Unemployment Rises In October Unemployment in Spain increased from the previous month in October, latest government data showed Thursday. (Nov 3, 2011) Full Article Global Food Price Index At 11-Month Low In October: FAO An indicator of global food prices hit its lowest level in eleven months in October, due to decline in all international commodities included in the price index, the Food and Agriculture Organization (FAO) said Thursday. (Nov 3, 2011) Full Article U.K. Oct. Services PMI Falls More Than Expected The U.K. service sector growth continued for the tenth successive month in October, but at a weaker than expected pace, data from Markit Economics revealed Thursday. (Nov 3, 2011) Full Article BoE's Bean Sees Very Moderate Growth In Q4 The U.K. economy is likely to log a very moderate growth at best in the final quarter of 2011, Charlie Bean, Deputy Governor of the Bank of England said Thursday. (Nov 3, 2011) Full Article European Central Bank Unexpectedly Cuts Interest Rates The European Central Bank unexpectedly lowered its interest rates by 25 basis points on Thursday as the debt crisis scene increasingly turns murkier. The Governing Council led by ECB President Mario Draghi decided to lower the main refi rate to 1.25 percent from 1.50 percent. Economists had expected the rate to be left unchanged in the new ECB chief's inaugural rate-setting meeting. (Nov 3, 2011) Full Article Forex Top Story Australia Retail Sales +0.4% In September Retail sales in Australia climbed a seasonally adjusted 0.4 percent on month in September, the Australian Bureau of Statistics said on Thursday, coming in at A$20.912 billion. (Nov 3, 2011) Full Article Greek Referendum Likely In December, EU Withholds Loan Installment Greece is expected to vote on a referendum on the European Union bailout package in the first week of December, while the EU withheld the payment of the latest loan installment worth 8 billion euros until after the referendum. (Nov 3, 2011) Full Article China Non-Manufacturing Growth Slows In October China's non-manufacturing growth slowed in October, according to survey results from the China Federation of Logistics and Purchasing (CFLP), released Thursday. (Nov 3, 2011) Full Article U.S. Initial Jobless Claims Fall To 397,000, Lower Than Expected New claims for unemployment insurance fell more than expected for the final week of October, according to figures released Thursday by the Labor Department. (Nov 3, 2011) Full Article Commodities Gold Steady Amid Weak Dollar The price of gold was steady above $1,730 Thursday morning amid a weak U.S. dollar. (Nov 3, 2011) Full Article Crude Firm Near $93 The price of crude oil was firm near $93 Thursday morning as traders await cues from today's economic data, including weekly jobless claims numbers. (Nov 3, 2011) Full Article Political News Syria Accepts Arab League Peace Plan The Syrian government led by President Bashar al-Assad has accepted a peace plan proposed by the Arab League to end months of violence triggered by a popular unrest in the Middle East nation, the group said on Thursday. (Nov 3, 2011) Full Article EU Juncker: Referendum Will Be On Greece's Euro Membership The Greek referendum will be about whether the country is going to remain in the Eurozone, Eurogroup Chairman Jean-Claude Juncker was quoted as saying on Wednesday. (Nov 3, 2011) Full Article Analyst Currency Comments Westpac Sees Further Sell-off In Euro If ECB Fails To Address Liquidity Issues While noting that the euro was sold-off in Asian trading on Thursday following the news of confirmation of a Greek referendum in December, Westpac analysts said that it expects the single currency to decline further if the European Central Bank fails to address liquidity issues at its monetary policy meeting later in the day. (Nov 3, 2011) Full Article Currency Alerts Risk Aversion Aggravates On Lingering Greece Worries Risk aversion remained the main driver for trade in Asian deals on Thursday after French President Nicolas Sarkozy and German Chancellor Angela Merkel warned that Greece will not get "one more cent" in aid without holding to the terms of its bailout deal, prompting traders to continue selling high-yielding currencies and bet on safe havens. (Nov 3, 2011) Full Article Greece Woes Weaken Euro; ECB, G20 Meeting In Focus The European currency drifted lower against its major rivals in early European deals Thursday on increasing risk-aversion after French President Nicolas Sarkozy and German Chancellor Angela Merkel warned that Greece will not get "one more cent" in aid without holding to the terms of its bailout deal. (Nov 3, 2011) Full Article Dollar Unable To Rally Despite Ultimatum For Greece The dollar was generally weaker Thursday morning in New York, after Germany and France gave Greece told Greece they must decide whether to stay in the euro zone or go their own way. (Nov 3, 2011) Full Article General News Ex-Colombian Beauty Queen Jailed In Argentina A court in Argentina on Wednesday sentenced former Colombian beauty queen Angie Sanclemente Valencia to six years and eight months in prison after finding her guilty of attempting to smuggle cocaine to Europe. (Nov 3, 2011) Full Article US Federal Court Convicts Russian Arms Dealer Viktor Bout A U.S. federal court in New York on Wednesday convicted former Soviet military officer and alleged arms dealer Victor Bout on charges of attempting to sell heavy weapons, including surface-to-air missiles, machine guns and other weapons, to a Colombian terror group. (Nov 3, 2011) Full Article French PM Condemns Firebomb Attack On Satirical Weekly French Prime Minister Francois Fillon has condemned the firebomb attack on the Paris offices of the satirical weekly 'Charlie Hebdo' as an assault on freedom of expression. (Nov 3, 2011) Full Article Reports: Fierce Gun Battle Raging In Afghan City Of Herat A fierce gun battle is raging between Afghan security forces and a group of insurgents at the office of a private company in the western city of Herat since Thursday morning, media reports said citing Afghan officials. (Nov 3, 2011) Full Article Unmanned Chinese Spacecraft Dock Together In Orbit China took a giant leap in its space program on Wednesday when two of its unmanned spacecraft docked together successfully in space, with their union taking place above the Communist nation itself. (Nov 3, 2011) Full Article US Willing To Sell India F-35 Fighter Jets The United States is willing to sell India the new stealth F-35 Joint Strike Fighter jets, the Pentagon said on Wednesday. (Nov 3, 2011) Full Article Stocks To Watch Brimming With Energy... This energy company comes on our radar, after having built a solid record of production and reserve growth since its founding in 1954. The company has increased reserves in 22 out of the last 25 years (Nov 3, 2011) Full Article | 
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