The US economy grew at a faster pace than initially thought, figures show. The economy grew at an annualised rate of 2.5% in the July-to-September period, up from an earlier estimate of 2%, the Commerce Department said. Earlier this month, the US Federal Reserve said it would pump $600bn (£373bn) into the economy to try to boost the economic recovery. ... Read More »
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People’s Bank Increases Reserve Ratios!
China, the owner of a large portion of U.S. debt, has begun to put the screws on local banks with new rules on credit and some of the biggest state-owned banks will be affected in the country. “The jump in the dollar is accompanied by a dip in the yen this morning, which could yet allow the Bank of Japan ... Read More »
U.S. Gold Hits Record High
The Gold is getting hotter by the day. In US the gold has hit a record high price of above $1300 an ounce. Thanks to the failing markets and low confidence in market, people are now turning to Gold for refugee. Investors are now eying the Gold for their investments. This is increasing the demand and shooting the price up. ... Read More »