4 Sep

CITY VIEWS: IS THE UK HEADING FOR ANOTHER RECESSION?

first_img KCS-content CHRISTINE GREENWOOD | KENNEDY PEARCE“Yes. We are headed for another recession because the moment the UK gets out of recession, we end up spending too much money, which eventually pushes us back into recession.”PADY CHATZIS | INTERMAR“No. Britain is likely to perform well and this is because of the new government and tighter regulation. European countries like Greece are doomed, while Britain is safer from a recession.”JULIA HAYHOE | BAKER & MCKENZIE“No, the UK isn’t headed for another recession. My sense is that a lot of people took longer holidays than normal over the summer but they’re back now, and are highly motivated. It will be tough but we’ll avoid another recession.” CITY VIEWS: IS THE UK HEADING FOR ANOTHER RECESSION? whatsapp Tags: NULL Share Tuesday 31 August 2010 8:47 pm whatsapp Show Comments ▼ More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org last_img read more

4 Sep

Output grows as retail sales start to slow

first_imgThursday 16 September 2010 9:02 pm Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp Show Comments ▼ RETAIL sales suffered a surprise drop of 0.5 per cent in August, but manufacturers remained upbeat about demand for next month, official figures from the Office of National Statistics (ONS) and the CBI respectively showed yesterday. The fall in retail sales was the first in over six months when the unusually cold winter put shoppers off going to the high street. The numbers came as a surprise largely because July had seen such strong positive sales growth of 0.8 per cent. Analysts had been expecting growth of 0.3 per cent.The reversal saw sales volumes fall most for non-food retailers, down 0.7 per cent compared to food chains which saw sales drop 0.5 per cent. While the monthly decrease was comparatively sharp, sales were still 0.4 per cent higher than in August 2009. Meanwhile, sales volumes for the three months to August increased by 1.4 per cent compared to the previous three months, largely led by non-food stores Opinions among retailers are divided with some concerned government spending cuts could threaten confidence and the traditional Christmas shopping boom. Others believe the impending VAT rise proposed for January could lead to a spending spree on the high street before prices go up on 1 January.However, the coalition government cautioned against reading too much into one set of of monthly figures.?A Treasury official pointed out that the most recent three month figures indicated growth.Meanwhile the closely-watched CBI industrial trends survey was more upbeat. It found that 23 per cent of firms reported higher-than-normal export orders, against 27 per cent who reported lower-than-normal orders. The resulting balance of -5 per cent was weaker than in August but still much higher than recent averages and reflects a much better outlook than at the start of the year. Output grows as retail sales start to slow KCS-content whatsapp Share Tags: NULLlast_img read more

4 Sep

Posen: We need QE to start again

first_img whatsapp QUANTITATIVE EASING (QE) must be restarted if Britain is to avoid persistent high unemployment and economic stagnation, Bank of England Monetary Policy Committee (MPC) member Adam Posen said yesterday.In a speech delivered in Hull yesterday, Posen was the first MPC member to call explicitly for a second round of QE. His comments put him on a collision course with fellow policymaker Andrew Sentance, who has been calling for higher interest rates since June. Posen argued: “It is right for both long-term stability and short-term performance for central banks to do more now.”He warned that policymakers’ misplaced fears of inflation should not lead them to settle for weak growth: “The risks that I believe we face now are the far more serious ones of sustained low growth turning into a self-fulfilling prophecy, and/or inducing a political reaction that could undermine our long-run stability and prosperity.”Posen has not yet voted for further monetary loosening and said that his vote at the next meeting was not a foregone conclusion. “Although we find Mr Posen’s analysis sobering and plausible, we believe it will take further downside news on the economy if a majority of MPC members is to support a QE extension,” said Barclays Capital’s Simon Hayes. whatsapp Show Comments ▼ Tuesday 28 September 2010 11:37 pm KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comcenter_img Posen: We need QE to start again Share Tags: NULL More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orglast_img read more

4 Sep

SocGen rogue trader Kerviel to get his day of reckoning in court

first_img whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Show Comments ▼ KCS-content whatsapp A PARIS judge will tomorrow decide whether former trader Jerome Kerviel should be punished for his freewheeling market bets that brought French bank Societe Generale to the brink of collapse in 2008.The 33-year-old ex-trader, who now works for a technology consultancy, risks five years in prison and a €375,000 (£323,000) fine if found guilty of charges of breach of trust, computer abuse and forgery.At the end of Kerviel’s high-profile three-week trial in June, his defence team pleaded guilty to computer abuse but rejected the other charges. The public prosecutor has recommended Kerviel serve at least four years behind bars, with a fifth year suspended. Tuesday’s verdict is critical for SocGen, which has worked hard to clean up its image since the scandal. SocGen rogue trader Kerviel to get his day of reckoning in court Share Sunday 3 October 2010 10:45 pm Tags: NULLlast_img read more

4 Sep

Fears of an overshoot grow as budget deficit jumps unexpectedly to £16.2bn

first_img Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo Fears of an overshoot grow as budget deficit jumps unexpectedly to £16.2bn Tags: NULL PUBLIC borrowing unexpectedly rose to a record high for September, demonstrating the sheer scale of the challenge facing the coalition government as it yesterday unveiled deep spending cuts. Excluding the temporary effects of financial intervention, net borrowing was £16.2bn, well above the consensus forecast of £14.3bn. Including the effects of this intervention, net borrowing was £15.6bn. Some economists think that the government is on track to overshoot its 2010-11 target.“Six months into the fiscal year, a simple extrapolated trend suggests that net borrowing excluding intervention is set to rise to £156bn by the end of the year, £7bn above the June Budget forecast of £149bn and bang in line with last-year’s outturn,” warned Barclays Capital’s Simon Hayes. Although the detail of the figures showed some welcome improvements, notably in terms of growing tax receipts, there was a worryingly sharp increase in the contribution of debt interest payments, which surged 155 per cent to £2.3bn from £912m a year earlier.“This is partly because higher inflation has pushed up the interest payable on index-linked gilts, but it is also due to the large increase in government debt which now stands at 57.2 per cent of GDP on the Treasury’s favoured ‘excluding financial interventions’ measure,” said Nida Ali, economic advisor to the Ernst & Young ITEM Club Wednesday 20 October 2010 8:43 pm Show Comments ▼center_img KCS-content whatsapp whatsapp More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Sharelast_img read more

4 Sep

Focus on EMI trial

first_imgThursday 4 November 2010 10:33 pm JUDGE JED RAKOFFJed Rakoff provoked the ire of Wall Street when he rejected Bank of America’s $33m attempt to settle a dishonesty probe last year, describing such offers as “half-baked justice at best”. He redeemed himself in the eyes of one American bank yesterday, though his merciless courtroom treatment of long-winded witnesses gained him few friends. He was happy to slash Hands’ damages claim by $6bn, and once cut off irrelevant arguments about Hands’ and Wormsleys’ children by snapping: “I congratulate them on their fertility.”GUY HANDSTHERE were numerous raised eyebrows in both music and private equity camps when Guy Hands bought EMI in 2007. As a private equity tycoon with huge stakes in the Meridien hotel chain and Shanks waste plants, Hands never seemed the right fit for the home of Kylie Minogue and Pink Floyd. Nevertheless, he has poured millions of pounds from his own funds into keeping afloat the record label he hunted for close to 15 years. He said in court last month that between 60 and 70 per cent of his personal fortune is tied up in the firm. Hands graduated from Oxford with a third class degree in politics and economics, and started his career as a bond trader at Goldman Sachs. He also spent time at Nomura before setting up his private equity vehicle Terra Firma in 2002. He is now based in Guernsey, having moved from Kent last year for tax reasons. He claims to almost never visit his wife and two school-age children to retain his exile status. DAVID WORMSLEYDAVID Wormsley, known as The Worm in financial circles, was once Guy Hands’ financial adviser and used to take shooting holidays with him and his family. Citigroup’s UK chair of investment banking is unlikely to get another invitation. Wormsley, 50, had until recently managed to steer clear of the public eye, despite being named the top mergers and acquisitions banker in the City several years running. He has been linked with gigantic deals including Ferrovial’s £10bn purchase of BAA and a £41bn restructuring at Shell. His most recent distractions from the US fraud case included advising CVC Capital in its £850m joint takeover bid for Brit Insurance, the sponsor of the England cricket team, earlier this year. In an email to Hands in 2006 he told his old friend: “I am incapable of not trying to get you to the best possible outcome.”Despite the sour outcome of the EMI deal, the US courts agree with him. TIME LINE | TERRA FIRMA AND EMI18 – 21 May 2007Guy Hands claimed David Wormsley made three phone calls to Guy Hands encouraging Terra Firma to bid 265p a share for EMI by 9am the next day to close the deal.21 May 2007Terra Firma borrows £2.6bn from Citigroup to buy out EMI for £4.2bn.October 2008EMI posts a full-year loss of £757m.September 2009Terra Firma writes down the investment by 50 per cent and its entire portfolio by 45.5 per cent.11 December 2009Hands files lawsuit at the New York Supreme Court accusing Citi of tricking Terra Firma into buying EMI.August 2010EMI achieves 2010 revenues of £1.65bn and a net loss of £512m.October – November 2010Fraud case opens in Manhattan, eventually dismissing Hands’ claims that Wormsley lied to push him into bidding. Show Comments ▼ whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorymoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterMartha Stewart CBDShop Martha Stewart’s CBD Products NowMartha Stewart CBD KCS-content whatsapp Share Focus on EMI trial Tags: NULLlast_img read more

4 Sep

Siemens bullish on the future

first_img Industrial giant Siemens has said its net loss was 65 per cent lower in the final quarter of 2010 than the same period a year earlier. For the full-year, net income climbed 63 per cent to €4bn (£3.5bn).The fourth-quarter net loss was €396m, compared with a loss of €1.06bn in the last part of 2009. But it said its growth was “gaining momentum” and that it expected to win new orders at a faster pace next year. Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionUndo whatsapp KCS-content whatsappcenter_img Tags: NULL Siemens bullish on the future Thursday 11 November 2010 8:07 pm Show Comments ▼ More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comlast_img read more

4 Sep

Natixis returns to profit

first_img whatsapp Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndo More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comConnecticut man dies after crashing Harley into live bearnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com KCS-content Natixis returns to profit center_img whatsapp FRENCH bank Natixis returned to a net profit last year and plans to resume paying a dividend.Natixis, which focuses on investment banking, has boosted revenue in a volatile year thanks to strength in corporate finance, capital markets and asset management.The bank’s net profit for 2010 was €1.73bn, compared with an average analyst estimate of €1.34bn. Natixis posted a €1.39bn loss in 2009.Natixis chairman Francois Perol said that the bank, which is 72 per cent owned by cooperative group BPCE, is on track to comply with stricter Basel III capital rules without having to raise funds.Shares of Natixis closed up 4.29 per cent at €4.30, to make the stock the top gainer on the French blue-chip CAC 40 index. Show Comments ▼ Tags: NULL Wednesday 23 February 2011 8:41 pmlast_img read more

4 Sep

GDP revisions expected for UK

first_img More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comWhy people are finding dryer sheets in their mailboxesnypost.com whatsapp Thursday 24 February 2011 8:33 pm Share KCS-content GDP revisions expected for UK Show Comments ▼ An updated estimate of British GDP in the final three months of the year will be released by the Office for National Statistics today. Last month the ONS shocked economists by announcing a 0.5 per cent contraction in the economy, according to its first estimate. whatsapp Tags: NULLlast_img read more

4 Sep

US government shutdown delayed

first_img Show Comments ▼ whatsapp US government shutdown delayed Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute Wednesday 2 March 2011 8:42 pm center_img whatsapp Share The US Congress has passed a bill extending funding for the federal government by two weeks, staving off a possible government shutdown. It comes as politicians continue to tussle over Republican plans to cut federal domestic spending by a quarter. The bill contains $4bn (£2.5bn) in agreed cuts, well short of the $60bn targeted by Republicans.Federal Reserve chairman Ben Bernanke has warned that the cuts plan would cost the US economy 200,000 jobs. “I would like to see job creation,” said Bernanke, adding that the impact was “not trivial”. KCS-content More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orglast_img read more