Jim O'Neill News
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European leaders shift their focus this week to bolstering the euro region’s debt-crisis firewall after the Group of 20 nations rebuffed their call for help.
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Germany was left to dig deeper to combat the euro-area debt crisis after the Group of 20 nations told Europe to come up with more financial firepower before they consider lending outside support.
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Investors are buying what Mario Draghi and Angela Merkel are selling.
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Israel’s multilane Ayalon Highway runs parallel to the Mediterranean Sea, past Tel Aviv’s skyscrapers, funneling traffic to its wealthy suburbs.
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Italian Prime Minister Mario Monti, by combining budget cuts with deregulation, has won praise from French President Nicolas Sarkozy for “spectacular progress” in fighting the debt crisis while racing to stay ahead of domestic critics.
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When Antoine van Agtmael was traveling around Asia in the late 1970s, he became convinced there were companies worth investing in throughout the developing region. In 1981, while working for the World Bank’s International Finance Corp., he presented an idea for a “third- world equity fund” to Salomon Brothers Inc.
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With Asia’s elderly population poised to double within four decades, more money is being plowed into preserving wealth than enhancing growth, driving up demand for the region’s bonds that are beating returns on stocks.
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Jim O’Neill, chairman of Goldman Sachs Asset Management, said Greece will probably agree to a deal with its creditors on a debt swap before March 20, Handelsblatt reported, citing an interview.
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China’s central bank pledged support for first-home buyers as a crackdown on real-estate speculation threatens to trigger a property slump in the world’s second- biggest economy.
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Jim O’Neill, the economist who coined the term BRIC a decade ago, said China’s fourth-quarter growth rate, while the slowest in more than two years, was stronger than many analysts had forecast and was a “blow” to those predicting a “hard landing” for the nation’s economy.
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