v
The
economy fared slightly better than initially thought in the second quarter,
but the pace of growth remained too slow to shut the door on further monetary
easing from the Federal Reserve.
v
Japan's Nikkei average fell below
9,000 to a two-week closing low on Thursday, hurt by concern that U.S.
Federal Reserve Chairman Ben Bernanke will not signal more stimulus measures in
his speech on Friday.
v
Gold was
trapped in a tight range on Thursday ahead of a speech from Federal
Reserve Chairman Ben Bernanke on Friday that could stoke expectations for a
third round of quantitative easing to stimulate the U.S. economy.
v
Stocks
edged higher on Wednesday in the lightest trading of the year as
investors waited for a key speech by Federal Reserve Chairman Ben Bernanke on
Friday.
v
Citigroup
Inc agreed to pay $590 million to settle a shareholder lawsuit accusing
it of hiding tens of billions of dollars of toxic mortgage assets, one of the
largest settlements stemming from the global financial crisis.
v
China’s
stocks fell, dragging the benchmark index down for a fourth straight
month, after companies from China Cosco Holdings Co. (601919) to China
Shipping Container Lines Co. reported first-half losses
v
Asian
shares hit a one-month low on growth concerns while major currencies trod water on Thursday as
investors waited to see whether U.S. Federal Reserve Chairman Ben Bernanke will
give any hint about further U.S. stimulus in a speech to fellow central bankers
on Friday.
v
Nineteen
miners were killed and 28 are missing in China
after a gas explosion in a coal shaft, the Xinhua news agency said on Thursday,
marking one of the biggest disasters of the year in the accident-plagued
industry.
v
Asian
shares hit a one-month low on growth concerns while major currencies trod water on Thursday as
investors waited to see whether U.S. Federal Reserve Chairman Ben Bernanke will
give any hint about further U.S. stimulus in a speech to fellow central bankers
on Friday.
v
Australia’s currency,
historically a shock absorber for the world’s 13th-largest economy, may
be losing some of its elasticity, increasing the likelihood that the central
bank will consider cutting interest
rates.
v
Oil
dropped for a second day in New York
as stockpiles unexpectedly rose and Hurricane Isaac weakened, reducing
the threat to offshore platforms and rigs in the Gulf of Mexico.
v
Exxon Mobil
Corp. (XOM) and Apache Corp. (APA) will hold talks with YPF SA (YPFD)
next month as the Argentine company nationalized in April seeks partners to
step up shale oil development, said a YPF official briefed on the matter.
v
Moody's
Investors Service on Thursday downwardly revised growth forecasts for
Group of 20 emerging economies, citing a troubled external environment and
weaker domestic demand. In an update to forecasts released in April, Moody's
cut its forecasts for growth in emerging economies to 5.2% in 2012.
v
Copper
consumption in China,
the world’s biggest user, is expected to expand this year at the slowest
rate since 1997 as economic growth cools, according to Beijing Antaike
Information Development Co.
v
Australian
shares sank in early trading Thursday, as weak commodity prices weighed
on mining firms of the resource-rich nation.
v
Brazil's
central bank late Wednesday cut the country's benchmark interest rate by
a half-percentage point to 7.5%, a record low.
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