Stocks Fall 1% After Health Ruling; Banks Sag – CNBC

Stocks were down more than 1 percent across the board Thursday after the U.S. Supreme Court upheld a key part of President Obama's health care overhaul.

Barclays: Cameron says bank faces 'serious questions' – BBC

Barclays was fined £290m ($450m) after an investigation into claims that several banks manipulated the Libor rate at which they lend to each other.

RIM results likely to be dismal – CBC

Another chapter in the Research In Motion drama will begin Thursday as the company releases its first-quarter earnings results, which are widely expected to show more problems ahead for the BlackBerry maker.

REFILE-Eaton, IRS tangle over cross-border pricing pacts - Reuters

Eaton Corp is challenging the Internal Revenue Service in U.S. Tax Court, arguing that the agency broke agreements dealing with how the company moves assets and money across international borders, a volatile issue in the tax world.

IRS suspends issuing ITINs without original documentation – Journal of Accountancy

Beginning June 22, 2012, and continuing until the IRS issues new rules (which it says it will do by the beginning of the 2013 filing season), the IRS will not issue individual taxpayer identification numbers (ITINs) unless the applicants provide original documents such as passports or birth certificates, or certified copies of those documents from the issuing agencies

Greece needs more cuts not higher taxes, says IMF - BBC

The International Monetary Fund (IMF) has told Greece it needs better tax collection and deeper spending cuts, not higher taxes, to avert its crisis.

Stock Dividends Sending Buy Signal, But Be Careful - CNBC

"Investors rarely overlook stock market bargains,” says one analyst. But with the Fed intervening in bond markets, the difference between stock and bond yields may be skewed.

Obama proposes $1.5 trillion in new taxes - CBC

U.S. President Barack Obama Monday proposed $1.5 trillion in new taxes — aimed predominantly at the rich — as part of his proposal for cutting the American public deficit by more than $3 trillion US.

Loonie sinks over European debt pressure - CBC

The Canadian dollar fell by one cent Monday and stock exchanges traded lower on worries about Europe’s debt crisis.

IEA increases oil demand estimate – CBC

The International Energy Agency predicted Thursday average world oil demand could rise by 1.1 million barrels a day to 95.3 million by 2016.

RIM to cut jobs – CBC

Shares in Waterloo, Ont.-based Research In Motion fell Thursday after it announced it was planning job cuts as it reported first-quarter revenue and earnings that didn't meet analysts' expectations.

Alibaba splits Taobao, China's biggest retail website – BBC

Chinese internet giant Alibaba has announced that it is reorganizing one of its websites, Taobao, into three separate units.

US current account deficit widens as oil imports rise – BBC

The US current account deficit rose 6.3% to $119.3bn (£74bn) in the first three months of the year, the Commerce Department has said.

Carney keeps rate at 1% - CBC

The Bank of Canada held its benchmark interest rate steady at one per cent on Tuesday, the sixth straight time the bank has opted to stand pat.

Budget forecasts remain intact: Flaherty – CBC

Finance Minister Jim Flaherty said he's been assured by private sector economists that projections used for the March budget are in line with current forecasts, despite recent economic developments.

Auto Sales: High Prices, Less Cars Likely Hurt in May – CNBC

Higher car prices and a shortage of fuel-efficient vehicles likely threw a roadblock in the U.S. auto industry's recovery path in May, when the Japan crisis had its biggest impact on U.S. sales so far.

Eurozone inflation falls as unemployment stays flat - BBC

Inflation in the countries that share the European single currency fell to 2.7% in May, according to the European Union statistics office.

House Republicans reject US debt limit bill – BBC

Republicans in the US House have rejected a bill to raise the US debt limit, in what analysts describe as a bid to force government spending cuts.

Economic recovery at risk over oil supply says IEA – BBC

The International Energy Agency (IEA) has urged oil producing countries to increase supply to avoid "derailing the economic recovery".

Critics Take Aim at ECB Boss Jean-Claude Trichet – CNBC

As he prepares to stand down from the European Central Bank later this year, Jean-Claude Trichet could be forgiven for asking himself why he bothers. Having steered the euro zone through crisis after crisis, the criticism of his time running Europe’s central bank gets louder and louder.

Greece to start selling domestic assets to ease debts – BBC

The Greek government has said it will begin to sell stakes in a number of domestic corporations "immediately" in order to raise cash to help reduce its massive debts.

Most States Seeing Further Gains in Tax Revenue – CNBC

A new report says state tax revenues increased in the final three months of last year as the improving economy boosted income and sales taxes receipts.

Air travel up 8% in 2010: IATA - CBC

After a tough 2009 airlines enjoyed a rebound in 2010, with passenger traffic up by 8.2 per cent, the International Air Transport Association said Wednesday.

China Baidu search engine profits more than treble - BBC

Quarterly profits at Chinese internet search engine Baidu have more than trebled as its dominance in its homeland continues.

Egypt unrest: Moody's downgrades five banks - BBC

Moody's has cut its ratings on five Egyptian banks and warned that further downgrades may follow.

Bank of Canada expected to hold rates  -  CBC

Bank of Canada governor Mark Carney is expected to stand pat on interest rates when the central bank makes its decision known Tuesday.

Desire Petroleum shares fall as oil firm strikes water  - BBC

Shares in Desire Petroleum have slumped almost 50% after the explorer said a key drilling prospect off the Falkland Islands contained mostly water, not oil.

Futures Remain Lower After Home Price News  - CNBC

U.S. stock index futures continued to fall sharply ahead of the open Tuesday after an index of home prices fell unexpectedly and as fear of contagion from the European debt crisis continued to rattle investors.

Making use of tax breaks in giving can be involved  -  USA Today

Unless your last name is Scrooge, you probably don't give to charity just to get a tax deduction. But if you're charitably inclined, there's nothing wrong with taking advantage of tax breaks designed to encourage giving.

India economy grows by forecast-beating 8.9 percent  -  The Sydney Morning Herald

India's economy grew a forecast-beating 8.9 percent year-on-year in the July-September quarter, data showed Tuesday, underscoring the country's brisk recovery from the global financial crisis.

Debt, Taxes & Bernanke in Focus on Wall Street Tuesday  - CNBC

Europe's sovereign debt woes will continue to tug at markets, as investors Tuesday also get a few new pieces of U.S. economic data and hear from Fed Chairman Ben Bernanke on the economy.

Irish bank's deposits drop 17% since June  -  CBC

Ireland's second largest bank reported Friday that deposits have dropped by 17 per cent since June as individuals and businesses withdrew savings in the midst of the country's debt crisis.

Ireland anticipates massive loan  -  tvnz.co.nz

Ireland's central bank chief said he expected Dublin to receive tens of billions of euros in loans from European partners and the IMF to provide contingency capital for its shattered banks.

Doubts on euro debt lift yields in Spain -  Business Day

Spain raised 3.654 billion euros ($A5.05 billion) in 10-year and 31-year bonds on Thursday but had to offer higher yields as investors sought greater returns due to renewed concerns over eurozone debt levels.

GM shares lose momentum  -  Stuff.co.nz

General Motors Co made a triumphant return to Wall Street less than a year and a half after the government rescued the automaker and forced a massive overhaul but its shares lost momentum after an early bounce.

US inflation moves closer to zero  -  BBC

Inflation in the US slowed further in October, with "core" inflation - which excludes volatile food and fuel prices - up only 0.6% on a year ago.

Argentina's Paris Club Debt to be Resolved by Early 2011, Lorenzino Says  -  Bloomberg

Argentina wants to resolve negotiations with the Paris Club group over defaulted debt before April to help boost investment in South America’s second- biggest economy, Finance Secretary Hernan Lorenzino said.

U.S. commission pitches $3.8T debt cutting plan  -  CBC

A commission set up by U.S. President Barack Obama is proposing an austerity plan that would reduce social security and Medicare benefits, modify personal and corporate tax rates and eliminate mortgage-interest tax deductibility.

GE to buy 25,000 electric vehicles by 2015  -  CBC
General Electric Co. said Thursday it will buy 25,000 electric vehicles by 2015 in hopes of sparking demand for the emerging market for which it makes charging stations and other infrastructure.

Jobs to be Cut to Secure International Loan – All Africa.com

Thousands of public servants in Swaziland are due to lose their jobs in cutbacks as part of a government bid to gain approval from the International Monetary Fund for a loan. But some Swazis would rather see the budget slashed for the country’s autocratic royals.

Greek Unemployment Rises to 12.2% in August  - CNBC

Bank Chiefs Call for Standards on the Standards  -  The Wall street Journal

Canadian dollar trades at parity  -  CBC

Energy price spike looms, agency says  -  CBC

The International Energy Agency warned Tuesday that governments aren't doing enough to prepare for the next spike in energy prices.

Vodafone exits Japan and raises profit forecast  - BBC

Mobile phone operator Vodafone has revealed an agreement to sell its remaining interest in Vodafone Japan for £3.1bn, as part of its new strategy of offloading non-core assets.

China, Germany and South Africa criticise US stimulus  -  BBC

Germany, China, Brazil and South Africa have criticised US plans to pump $600bn (£373bn) into the US economy.

US insurance giant AIG loses $2.4bn in quarter  -  BBC

American International Group, the giant insurer rescued by US tax payers during the credit crisis, has plunged to a third-quarter losses of $2.4bn.

Loonie see-saws at parity  -  CBC

The Canadian dollar see-sawed above and below parity with the U.S. dollar Friday as the American dollar made gains on currency markets.

Unemployment rate dips to 7.9%  -  CBC

Job growth stalled for a second straight month in October, as the economy created just 3,000 new positions, Statistics Canada said Friday.

U.S. economy adds 151,000 jobs  -  CBC

The American economy put on its biggest job-creation show in five months in October, adding 151,000 positions, the U.S. Labour Department said Friday.

Blue-chip cos may have evaded 27,000cr in taxes  -  The Economic Times

NEW DELHI: In one of the biggest tax recoveries to be made from blue-chip companies, the finance ministry has asked Central Board of Direct Taxes (CBDT) to reopen income-tax returns of entities found to have allegedly evaded taxes estimated at over Rs 27,000 crore by wrongly claiming derivative losses.

China: QE2 exposes global monetary flaws  -  CNBC

PotashCorp decision slows loonie  -  CBC

Ottawa's decision to block BHP Billiton's bid for Potash Corporation of Saskatchewan slowed gains in the Canadian dollar Thursday.

Markets up sharply on Fed stimulus  -  CBC

The Toronto stock market made sharp gains Thursday, along with exchanges around the world, a day after the U.S. Federal Reserve announced a $600-billion program to stimulate the American economy.

Eskom clinches $15bn loan from Development Bank of Southern Africa - Business Day

ESKOM’S multi-billion rand capital expansion programme has received a shot in the arm after the utility and the Development Bank of Southern African (DBSA) sealed a R15bn loan to finance Eskom projects.

Next year will be a year unlike any other for the stock market  -  News Observer
The Republican takeover of the House of Representatives on Tuesday means Wall Street will be contending with three situations in 2011 that drive stock prices.

Eurozone interest rate held at 1%  - BBC

India, Australia hike interest rates  -  CBC

The central banks of India and Australia moved Tuesday to curb inflation by raising key interest rates.The Reserve Bank of India's quarter-point hike in its short-term lending rate to 6.25 per cent was the sixth increase since March and another sign of the difference in the pace of recovery between emerging Asian economies and the developed world.

United Nations Global Compact initiative launched  -  The Herald

The United Nations Global Compact initiative that seeks to advance 10 universal corporate principles in the areas of human rights, fair labour practices, environment and anti-corruption was launched during the Employers Confederation of Zimbabwe annual congress in Victoria Falls last week.

US Public Pensions Face Day of Reckoning  - CNBC

In 2006, US regulators, reacting to the 2000 stock market crash and the so-called “perfect storm”, implemented broad rules for corporate defined benefit pension plans on liability valuation and financial reporting (SFAS 158), and on funding (the Pension Protection Act).

BP back to profit after oil spill  -  BBC

Oil giant BP has announced a return to profit in the three months to September after last quarter's record loss.

Imperial Oil Q3 profit down 24%  - CBC

Imperial Oil's third-quarter profit slumped by $129 million, or 24 per cent, because of scheduled maintenance at the Syncrude oilsands operation and the strong Canadian dollar, the company said Monday.

PotashCorp shares flutter on bid speculation  -  CBC

Shares of takeover target Potash Corporation of Saskatchewan traded up and down, then up again, on Monday as investors tried to guess the outcome of the $38.6-billion US hostile bid for the company.

Federal Reserve to unveil economic stimulus  -  The Herald (Scotland)

This week at a Federal Reserve policy meeting, Ben Bernanke will take the US central bank into perilous monetary waters for only the second time since he became chairman in 2006.

Toshaos meet a groundbreaking achievement  -  Guyana Chronicle Online

Foreign buyers in 45% of oilpatch deals  -  CBC

Foreign interest — especially by companies based in Asia — in western Canadian oil and gas properties has picked up sharply compared with 2009, according to Sayer Energy Advisors.

Economic Growth at 2% as Recovery Sputters Forward  - CNBC/Reuters

U.S. economic growth edged up as expected in the third quarter but not enough to chip away at high unemployment or change perceptions of more monetary easing from the Federal Reserve next week.

US vows to get China ties right.  -  Sydney Morning Herald

The United States vowed to get its rocky relations with China "right" despite flaring rows, and announced that President Barack Obama would meet President Hu Jintao next month in Seoul.