Paul Ashworth News
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Perpetual Ltd., which managed A$26 billion ($26 billion) at the end of last year, sued Cameron Harrison Private Pty, accusing it of poaching clients after hiring away two senior managers.
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The U.S. isn’t broke, and the dollar isn’t in danger of collapse even after unprecedented stimulus measures enacted following the worst financial crisis since the Great Depression, according to Capital Economics Ltd.
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Amy Valle is caught in a labor- market recovery that’s forcing some Americans to settle for less. Before she lost her job as a full-time health-department case worker last November, she was making $23 an hour. Now she’s paid $10 an hour as a part-time assistant coordinator in an after-school program.
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The U.S. economy’s anemic rebound from the worst recession in six decades is pummeling workers while leaving bosses almost unscathed and neither President Barack Obama nor Republican challenger Mitt Romney is captivating these disaffected voters five months before the national election.
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Treasury yields were the highest in 12 months relative to their major peers before data today that economists say will point to improvement in the U.S. job market.
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The biggest U.S. banks including JPMorgan Chase & Co. and Citigroup Inc. are lending the smallest portion of their deposits in five years as cash floods in from savers and a slow economy damps demand from borrowers.
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Some Federal Reserve policy makers may join Boston Fed President Eric Rosengren in backing new stimulus at a meeting this month after unemployment rose to 8.2 percent in May, economists said.
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Inventories at U.S. wholesalers rose more than forecast in October, a sign goods are piling up in the face of slowing demand.
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Manufacturing in the New York region sped up in February, a sign factories continue to drive the economic expansion.
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Tom Donohue, the president of the U.S. Chamber of Commerce, last week said higher taxes and a “flood of new regulations” will damage an already subpar economy. “In many ways, we’re going backwards,” he said.
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