Sunday, October 24, 2010

Quick Overview

  • Bloomberg / Businessweek 10/31/2010: The top 20% richest Americans own 84% of the nation’s total wealth. The poorest 20% own 0.1%

  • (FT) Finance ministers, meeting this weekend in the South Korean city of Gyeongju, agreed for a policy framework to contain large current account surpluses and deficits, but a proposal to set specific targets ran into opposition.

  • (FT) Overlay Asset Management, a $20bn foreign exchange manager, is launching a currency basket it claims represents a "virtual world reserve currency".

  • (Reuters) - Britain's finance minister George Osborne is unnecessarily risking the economic recovery with his deep spending cuts; the country's new Nobel Prize winning economist was quoted as saying on Saturday.

  • WikiLeaks said on Saturday its release of nearly 400,000 classified U.S. files on the Iraq war showed 15,000 more Iraqi civilians died than previously thought.

  • Google said its "Street View" cars around the world "accidentally" collected more personal data than previously disclosed, and that it was changing its privacy practices.

  • (Reuters) Israel cannot use the Biblical concept of a promised land or a chosen people to justify new settlements in Jerusalem or territorial claims, a Vatican synod on the Middle East said on Saturday.

  • QoQ Australian producer prices rose 1.3% in Q3 of 2010 and rose 2.2% YoY
  • Japan’s exports climbed 14.4% YoY

  • Russia extended its ban on grain exports to July 1

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