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Aug 10, 2010

NASDAQ : Latest Forex News. August 10th., 2010

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FGC BOLSA - FGC FINANCIAL MARKETS : MarketWatch - Industry - Financial Services.-China's high-tech subsidies boosts paper pushers. August 10th., 2010





INDUSTRY-FINANCIAL SERVICES


Caixin Online: China's high-tech subsidies boosts paper pushers
 
By Zhou Qiong Caixin Online


A Chinese policy meant to encourage high-tech innovation has instead fostered a new industry in middle-man agencies that collect fees on the new application process, reports Caixin Online. 

BBC Business News - Bank of England expected to revise growth forecast. August 10th., 2010


 "Bank of England expected to revise growth forecast  Clothes hanging in an Oxford Street store The Bank's forecasts for inflation next year will have to be revised up to reflect the higher VAT rate.
The Bank of England is expected to lower its forecasts for economic growth in the UK but raise its expectations for inflation when it publishes its quarterly inflation report later.

The revisions including the increase in the cost of living will reflect the decision to increase VAT to 20% in January - which was revealed in the June Budget.

In May, the Bank predicted growth of 3.5% in 2011 and forecast inflation to fall below its 2% target next year.

The Office for Budget Responsibility (OBR) expects growth of 2.6% next year.

Any downward revisions to growth forecasts may fuel fears of a double dip recession in the UK.

This comes after America's central bank, the Federal Reserve, admitted on Tuesday that the pace of recovery there had slowed in recent months and was likely to be more modest than anticipated in the short term.

Inflation in the UK in June stood at 3.2% on the Consumer Prices Index (CPI) measure, well above the Bank's target rate.

The Retail Prices Index (RPI) inflation measure stood at 5%.
'Nervous customers'

Data this week has suggested house prices are starting to fall and that there is a slowdown in spending on the high street.

The British Retail Consortium (BRC) reported a 0.5% rise in retail sales in July compared with a year earlier, down from the 1.2% increase seen in June.

The BRC's director general Stephen Robertson said consumers were concerned about job security, before the full scale of government cuts is revealed in October.

'There is no doubt that the message out of our most recent numbers is that the customer is feeling more nervous and that they're feeling less confident,' he said.

'It is very important that we continue to support the private sector and that we make sure that the private sector is able to mop up some of the jobs that will almost certainly be shed after the Autumn Public Spending Review.'

- Sent using Google Toolbar"

ABC News : Australia Business News.- Residents to meet over Mt Isa lead row. August 10th., 2010


Residents to meet over Mt Isa lead row
Former Labor MP Tony McGrady says a community meeting to discuss lead exposure in Mount Isa in north-west Queensland should be held within the fortnight.


Legal action keeps striking miners away from rail line
The Construction, Forestry, Mining and Energy Union (CFMEU) says Xstrata has taken legal action preventing its members from going near a north Queensland rail line.


Loggers want politics out of industry remedy
The national forest industry lobby hopes to win funding for Tasmania's struggling loggers, without making forestry an election issue.


More Business Stories > 

FGC BOLSA - FGC FINANCIAL MARKETS: MarketWatch - Industry - Financial Services.-High-speed trading led to flash crash: survey.August 10th., 2010.





INDUSTRY- FINANCIAL SERVICES



ETF Focus: High-speed trading led to flash crash: survey

By April H. Lee MarketWatch


A majority of financial advisers said an over-reliance on computer systems and high-frequency trading were primary drivers of the May 6 so-called flash crash, but felt that similar events will happen again no matter what steps are taken, according to an online survey. 

CNBC : Evening Brief : Fed to Market: Long-Term Rates Can Go Even Lower. August 10th., 2010


LATEST STORIES

»click here to see the latest top stories from CNBC.com

LATEST VIDEO

Fed Decision: Unchanged
The Fed decides to keep fund rates unchanged. Insight
with CNBC's Eamon Javers & Steve Liesman;
William Gross,Pimco and Ken Volpert, Vanguard Funds.
» Watch Video 

Obama on State Aid Bill
President Obama delivers remarks in favor of a $26 billion
package to help cash-strapped state governments.
» Watch Video

El-Erian on Fed's "New Normal"
Mohamed El-Erian, CEO and and co-CIO of Pimco,
discusses the Fed's "new normal" with CNBC.
» Watch Video  

Rendell, LaHood Discuss Nation's Infrastructure
Government and business leaders are gathering in
Pennsylvania Tuesday to talk about the urgent needs facing
the nation's infrastructure. Gov. Ed Rendell (D-Pa.) and
Transportation Secretary Ray LaHood discuss
the need with CNBC.
» Watch Video 

RTTNews: Evening Market Wrap.-Stocks End Notably Lower After Fed Maintains Rates. August 10th., 2010.

Evening Market Wrap Tue Aug 10 17:01 2010 

Commentary

Aug 10, 2010 Stocks End Notably Lower After Fed Maintains Rates - U.S. Commentary Stocks closed down by notable margins on Tuesday, as the Federal Reserve left interest rates unchanged while acknowledging that the economic recovery has lost some steam in recent months. The major averages all ended well off of their worst levels of the day, seeing considerable volatility in late-session dealing following the announcement. Full Article

Economic News

Aug 10, 2010 Productivity Unexpectedly Drops Amid Jump In Hours Worked With a significant increase in hours worked in the second quarter outpacing an increase in output, the Labor Department released a report Tuesday morning showing an unexpected decrease in labor productivity in the quarter. The report showed that productivity fell by 0.9 percent in the second quarter following an upwardly revised 3.9 percent increase in the first quarter. Economists had expected productivity to edge up by 0.1 percent compared to the 2.8 percent growth that had been reported for the previous quarter. Full Article
Aug 10, 2010 Fed Leaves Rates Unchanged, To Maintain Balance Sheet Noting that recent data indicates a slowdown in the pace of the economic recovery, the Federal Reserve said Tuesday that it has decided to leave interest rates unchanged at near-zero levels. The Fed also revealed plans to maintain the size of its balance sheet. The central bank said it would keep the target range for the federal funds rate at zero to 0.25 percent and reiterated that economic conditions will warrant exceptionally low rates for an extended period. Full Article

Earnings News

Aug 10, 2010 Fossil Raises 2010 Profit Outlook After Stylish Q2 Fashion accessories and watch retailer Fossil, Inc. (FOSL) reported Tuesday a profit for the second quarter that more than tripled from last year, helped by margin increase and sales growth. Earnings per share and sales for the quarter topped analysts' expectations. The company also raised its earnings forecast for the full-year 2010. Full Article

Corporate News

Aug 10, 2010 Netflix, EPIX Strike 5-year Deal On Streaming Movies Over Internet - Update Netflix, Inc. (NFLX), a subscription service of streaming movies and TV episodes, and EPIX, an entertainment channel and a joint venture of Viacom Inc. (VIA, VIAB), Tuesday announced a multi-year deal by which Netflix members will get an array of new movie releases and library titles from EPIX streamed over the Internet. Full Article
Aug 10, 2010 Oracle CEO Ellison Lashes Out At HP Board For Forcing Out Hurd Oracle's (ORCL) Larry Ellison has blasted Hewlett-Packard's board (HPQ) for forcing HP CEO Mark Hurd to resign despite finding no evidence to back a former employee's sexual harassment claim. "The HP board just made the worst personnel decision since the idiots on the Apple board fired Steve Jobs many years ago," Ellison wrote in an email to The New York Times. Full Article
Aug 10, 2010 Saudi Arabia To Allow BlackBerry Services To Continue Research In Motion Ltd.'s (RIMM, RIM.TO) BlackBerry messenger services will not be banned by the telecommunications regulator in Saudi Arabia after all. This according to a report in the Wall Street Journal. The paper said service providers met certain of regulatory requirements to keep the popular mobile device running. Full Article

Forex Top Story

Aug 10, 2010 Dollar Falters As Fed Signals More Support For Economy The dollar turned lower Tuesday afternoon, reversing early gains after the Federal Reserve signaled more further efforts to prop up the sluggish domestic economy. Policy makers once again pledged to keep interest rates near zero for "an extended period," as expected. However, the Fed went a step further by saying it would reinvest mortgage bond proceeds, noting the US recovery has slowed recently. Full Article

Political News

Aug 10, 2010 Former Sen. Stevens Reportedly Among Passengers On Downed Plane Former Alaska Senator Ted Stevens may have been among the passengers aboard a small plane that crashed Monday evening in southwest Alaska. While Stevens was reportedly one of the eight passengers on the plane and reports have indicated that there are survivors, it is unknown if Stevens is among them. Full Article