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Economic leaders fear policy paralysis

JACKSON HOLE, Wyoming (Reuters) – The heads of the U.S. Federal Reserve, IMF and OECD stepped up pressure on political leaders on both sides of the Atlantic to shake off their inertia and tackle urgent economic problems. If politicians ignore their pleas — including a blunt call from International Monetary…

Futures gain as normal Wall St operations expected

NEW YORK (Reuters) – Stock index futures jumped on Monday, signaling a strong open on Wall Street, as investors were relieved to see Hurricane Irene caused less damage than feared in New York City over the weekend. The New York Stock Exchange and the Nasdaq will operate as normal, although…

Samsung, Apple tablet row heats up in Australia

Electronics giant Samsung Monday said it would launch a counter claim against US firm Apple in Australia as part of a dispute between the rival companies over tablet computers. The American company launched legal action against South Korea’s Samsung Electronics in Sydney earlier this month, accusing it of infringing its…

Dollar holds firm after Bernanke speech

The dollar held firm against other major currencies in Asia on Monday after a much-awaited speech by US Federal Reserve chairman Ben Bernanke boosted positive sentiment. The euro bought $1.4480 in Tokyo morning trade, slightly down from $1.4490 in New York late Friday. It was almost flat at 111.10 yen.…

Eurozone crisis over in ‘two to three years’

The head of the European Financial Stability Facility (EFSF), Klaus Regling, believes the eurozone will overcome its current debt crisis by 2014. “One can justifiably expect the crisis to be over within two to three years,” he told the magazine Spiegel out Sunday. “In all eurozone countries the fundamentals are…

New IMF chief says urgent action needed to protect recovery

JACKSON HOLE, Wyo (Reuters) – The new head of the IMF on Saturday urged global policymakers to pursue urgent action, including forcing European banks to bulk up their capital, to prevent a descent into a renewed world recession. “Developments this summer have indicated we are in a dangerous new phase,”…

Facebook shutting down online Deals program

Facebook is ending a Deals program launched in April which offered online bargains like Groupon, LivingSocial and other companies. “After testing Deals for four months, we’ve decided to end our Deals product in the coming weeks,” the Palo Alto, California-based social network said in a statement. “We think there is…

Bernanke: It’s Congress’s turn to act on economy

JACKSON HOLE, Wyoming (Reuters) – Federal Reserve Chairman Ben Bernanke on Friday stopped short of detailing further action to boost the U.S. recovery but said the central bank would consider what more it could do to fight high unemployment, giving some comfort to investors. Bernanke said the Fed had marked…

Survey: Half of U.S. adults are using online social networks

WASHINGTON — Half of US adults are using social networks such as Facebook, Myspace or LinkedIn, according to a survey published Friday. The survey by the Pew Research Center’s Internet and American Life Project found that 65 percent of adult Internet users in the United States use social networks. That…

Can electric cars win over the mass market?

CHICAGO — It’s not every day that a US governor accepts an invitation to the launch of a Japanese-built car, but Nissan’s all-electric Leaf offers environmental credentials that top any nationalistic concerns. “Illinois is laying the groundwork for electric vehicles and a more green economy, and our efforts are paying…

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