It still feels like a recession and job losses are mounting. So what’s in store for the American consumer and all-important holiday shopping season?Personal debt levels are exaggerated and lack context, says our upbeat guest
Despite a “persistent array” of better-than-expected news on the economy, earnings and the healing of the financial markets, the “wall of worry” remains remarkably high, says James Paulsen, who oversees $375 billion as chief investment
From The Business Insider, Nov. 2, 2009:Prior to the bust, the Japanese yen was the favored currency behind
the so-called “carry trade.” Traders would borrow a cheap currency, buy
risky assets, and then profit. It was basically that easy.
But
Royal Bank of Scotland (RBS.L) says its deal with EU regulators and the UK government could include “divestments not initially contemplated” as radical shake-up of the UK bank sector looms in the coming days.
For more on these stories, and all the rest of the latest deal-related news from Reuters, click here.
And here’s some picks from the papers (some external links may require subscriptions):
* Comcast Corp (CMCSA.O) and General Electric Co (GE.N) are closer to a deal to give Comcast a 51 percent stake in NBC Universal and a formal announcement may be made in the coming week, the New York Times says, citing people briefed on the talks.
* German retailer Metro (MEOG.DE) is losing interest in acquiring the stores of Karstadt, the department store unit of insolvent Arcandor (AROG.DE), Frankfurter Allgemeine Sonntagszeitung, a German newspaper says.
* Goldman Sachs (GS.N) is in talks to buy millions of dollars of tax credits from Fannie Mae (FNM.N), but the U.S. Treasury could block the deal, says the Wall Street Journal.
* British real estate developer Quintain Estates and Development (QED.L) says it is considering raising equity, after a report it will raise up to 180 million pounds ($298 million) of fresh funds from the Sunday Times.
* Lebanon may launch a public sale of 25 percent of national carrier Middle East Airlines (MEA) after the world economy improves and a new government backs the plan, the central bank governor told a television.