Coffey, who has lost money for clients in the past two years, follows other high-profile hedge-fund managers to step away from trading as Europes’s sovereign-debt crisis and concerns over global economic growth roils markets. Article
Ikea has switched to the yen and finds it helpful. Article
Stay the course and avoid lurches, argues Summers. The alternative “demand support view,” while recognizing the need to contain debt accumulation and avoid high inflation, emphasizes the need for steps to increase demand in the short run as a means of jump-starting economic growth and setting off a virtuous circle in which income growth, job creation and financial strengthening are mutually reinforcing. Article
Mallika Srinivasan, whom her colleagues describe as someone with a natural instinct for marketing, has inordinate respect for the views of the end-users, and spares no expense for a chance to listen to them. On her trips to rural areas, she always makes it a point to stop at tea shops and get into conversations with people. A Business Line story says: Every morning she gets a stream of text messages from distributors on rainfall in their respective areas. “They say the devil is in the detail, but God is in the detail too,” she said. Article
We will undoubtedly here more about this as the northern European countries struggle to help the southern ones without jeopardizing their own stability. Article
John Dalli, a former Maltese businessman, resigned after the EU’s anti-fraud office found that he was aware of an attempt at corruption surrounding new legislation on the Swedish tobacco product known as snus. Article
LIMA: US Secretary of State Hillary Clinton has issued a clarion call for nations to lift barriers to women’s economic participation, arguing that in tough times they are a vital key to growth. Article
Clinton with Michelle Bachelet of UN Women’s Under Secretary and President Heredia of Peru.
The Board of Directors of Citigroup today announced that Vikram Pandit has stepped down as the Company’s Chief Executive Officer and as a member of the Board, effective immediately. The Board also announced it has unanimously elected Michael Corbat CEO and a director of the Board. Mr. Corbat previously served as Citigroup’s CEO of Europe, Middle East and Africa. Article
