Rob Carnell News
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Call them the “whatever-it-takes” central bankers.
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Prime Minister Mario Monti said he is not seeking Italy’s presidency as his decision to try for a second term in elections in February hinders his chances of being appointed to the non-partisan post.
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Swiss stocks ended little changed, as Novartis advanced after the European Commission approved its bid for eye-care company Alcon Inc. and exporters declined following China’s larger-than-forecast trade surplus.
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Bank of Canada Governor Mark Carney was unexpectedly named head of the Bank of England as the U.K. government looked abroad for a candidate untainted by financial turmoil to lead the beefed-up central bank.
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Bank of England Governor Mervyn King said inflation will probably slow below the bank’s target in 2012 and growth will be weaker than previously forecast, signaling the U.K. economy may need more emergency stimulus.
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Treasury 10-year notes erased losses on concern negotiations over the so-called fiscal cliff between President Barack Obama and Republican lawmakers are stalled, spurring demand for refuge.
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The world economy is heading for its third straight mid-year lull after manufacturing output shrank in Europe and slowed in China, leaving the U.S. under pressure to drive global growth.
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China is “favorable” on the prospect of Christine Lagarde leading the International Monetary Fund, French government spokesman Francois Baroin said, indicating support for her may build beyond Europe.
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U.S. home sales probably fell in February, while orders for long-lasting goods climbed, a reminder of an economic recovery reliant on manufacturing as housing struggles, economists said before reports this week.
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Europe’s financial crisis deepened and enveloped Spain, raising pressure on German Chancellor Angela Merkel at a meeting of world leaders to shift her stance on shielding the global economy.
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