Daily Digest

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Daily Digest 11/1 - UBS Cuts 10,000 Jobs, Power Your Home With Pets

Thursday, November 1, 2012, 4:50 PM

Economy

Higher jobless rate predicted by budget watchdog (westcoastjan)

The PBO forecast growth in real gross domestic product of 1.9 per cent this year, 1.5 per cent next year, down from the 1.6 per cent growth prediction in its April outlook, and two per cent for 2014, a drop from 2.2 per cent.

That would translate into a drop in the value of all goods and services produced in the Canadian economy annually of about $22 billion.

UBS cuts 10,000 jobs as it slims down investment bank arm (westcoastjan)

It is standard practice that bank employees are prevented from trading the moment they are informed that they are losing their jobs and are only able to collect any belongings under supervision.

UBS currently employs just over 6,600 staff in the UK.

Many Canadians count on winning lottery, inheritance for financial plan: poll (westcoastjan)

Nearly two in ten, or 18%, of those polled say they believe winning the lottery will contribute to their financial plan, while one in 10, or 10% say they expect a large inheritance to help out.

Looters target Coney Island after Sandy sweeps through (Thomas C.)

"People were running in and out of Rent-A-Center carrying these big flat screens. They were holding on tight," said witness Aisha John, 20. "I couldn't understand how someone could steal a big TV in broad daylight, but no one cared.”

Andrew Coyne: Like Europe, Canada is attempting to run a monetary union without a proper fiscal union (westcoastjan)

Like Europe we have a single currency. And like Europe, we maintain within that common currency a number of sovereign fiscal authorities, each seeking funds from credit markets in splendid isolation from the others, and each entitled to borrow without restriction of any kind. We, too, are attempting to run a monetary union without a proper fiscal union.

Oil producers eye Arctic backup plan as pipelines face uncertain future (westcoastjan)

Discussions are quietly underway between Calgary’s oil community, Canada’s only Arctic seaport, railway companies, and refiners on the East Coast and the Gulf Coast, as well as in Europe, to collect unrefined oil by rail from fields across Western Canada, get it to the port on the west coast of Hudson Bay and load it on Panamax-class tankers.

Animal House: Power Your Home With Pets (Sally O.)

Nonetheless, the majority of experiments in this realm are centered on using people power to run small electronics such as an oscillating fan. The team at Movoto, however, wanted something more interesting. Our solution: Put our freeloading pets to work.

Was Hurricane Sandy supersized by climate change? (ScubaRoo)

But how, precisely, can we say that Hurricane Sandy, and the extensive damage it will soon cause, are related to climate change? You have to be careful, given that a Category 1 hurricane in October is not itself unusual—and what's really unique about Sandy is its collision with another, extratropical or winter storm system. Still, there is much that can be said here, even though scientists are careful to emphasize the remaining uncertainties...

Bananas could replace potatoes in warming world (westcoastjan)

"It's not necessarily a silver bullet, but there may be places where as temperatures increase, bananas might be one option that small-holders could start to look at."

The report describes wheat as the world's most important plant-derived protein and calorie source.

Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

1 Comment

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Online)
Joined: Jul 30 2009
Posts: 4169
Reposting today's news
 
 

Italy cuts number of provinces in cost-saving drive

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The Daily History of the Debt Results

Historical returns from 10/23/2012 through 10/31/2012

The data for the total public debt outstanding is published each business day. If there is no debt value for the date(s) you requested, the value for the preceding business day will be displayed.

( Debt Held by the Public vs. Intragovernmental Holdings )

 

 

Date Debt Held by the Public Intragovernmental Holdings Total Public Debt Outstanding
10/23/2012 11,348,945,054,421.76 4,854,900,391,213.95 16,203,845,445,635.71
10/24/2012 11,349,517,894,900.98 4,845,273,931,773.91 16,194,791,826,674.89
10/25/2012 11,353,545,059,641.68 4,843,537,494,398.36 16,197,082,554,040.04
10/26/2012 11,353,950,855,146.35 4,843,864,859,164.35 16,197,815,714,310.70
10/29/2012 11,354,115,044,449.90 4,844,878,509,622.45 16,198,993,554,072.35
10/30/2012 11,355,484,849,726.02 4,848,576,821,378.81 16,204,061,671,104.83
10/31/2012 11,411,598,060,978.54 4,849,872,449,742.20 16,261,470,510,720.74

Headlines:

  1. Japan Firms See Billions of Dollars in Revenue Lost as Tokyo-Beijing Row Churns On
  2. Debt-ridden Japanese city puts its name on sale
  3. Germany Sees No Decision on Greek Aid Nov 12 - German Finance Ministry Officials
  4. Greece outlines new austerity as debt load rises
  5. Spain airports announce 1,600 layoffs
  6. Investors skirt new shorting curbs to bet on EU woes
  7. Greece Running Out of Cash; Government Under Threat
  8. Facing deficits, L.A. Council moves forward with proposed tax hikes
  9. New debt forecasts dash Greece hopes
  10. Canada economy shrinks in August, clouds outlook
  11. Municipal debt nightmares coming to life for Hungarian banks
  12. New York state asks Washington to cover all storm costs

"The unemployment rate would have to drop near 6.5% before the Federal Reserve should raise short-term interest rates, as long as inflation pressures remain tame, said Eric Rosengren, the president of the Boston Federal Reserve Bank, on Thursday. The Fed should keep running its third round of bond purchases, known as QE3, until the jobless rate falls under 7.25%, he added. Even then, the Fed should just assess inflation and the labor market to see whether to continue the QE3 purchases, he said. Rosengren is the third Fed official to lay out their suggestions on possible numeric targets for future Fed policy moves. Fed watchers think the central bank discussed adopting such triggers at their policy meeting last month. At the moment, the Fed has said it expects to keep rates exceptionally low until mid-2015 even if the economy improves. Rosengren's comments came in a speech at Babson College in Wellesley, Mass."

 

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