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System Messages

  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • strict warning: Declaration of views_handler_argument::init() should be compatible with views_handler::init(&$view, $options) in /home1/finfacts/public_html/sites/all/modules/views/handlers/ on line 745.
  • strict warning: Declaration of views_handler_filter::options_validate() should be compatible with views_handler::options_validate($form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/handlers/ on line 589.
  • strict warning: Declaration of views_handler_filter::options_submit() should be compatible with views_handler::options_submit($form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/handlers/ on line 589.
  • strict warning: Declaration of views_handler_filter_node_status::operator_form() should be compatible with views_handler_filter::operator_form(&$form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/modules/node/ on line 14.
  • strict warning: Declaration of date_api_filter_handler::value_validate() should be compatible with views_handler_filter::value_validate($form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/date/includes/ on line 578.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • strict warning: Declaration of uc_product_handler_field_price::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/ubercart/uc_product/views/ on line 94.
  • strict warning: Declaration of uc_product_handler_field_weight::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/ubercart/uc_product/views/ on line 61.
  • strict warning: Declaration of views_handler_field_user::init() should be compatible with views_handler_field::init(&$view, $options) in /home1/finfacts/public_html/sites/all/modules/views/modules/user/ on line 48.
  • strict warning: Declaration of semanticviews_plugin_style_default::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/semanticviews/ on line 232.
  • strict warning: Declaration of views_plugin_row::options_validate() should be compatible with views_plugin::options_validate(&$form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/plugins/ on line 135.
  • strict warning: Declaration of views_plugin_row::options_submit() should be compatible with views_plugin::options_submit(&$form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/plugins/ on line 135.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • warning: Creating default object from empty value in /home1/finfacts/public_html/sites/all/modules/views/includes/ on line 653.
  • strict warning: Declaration of views_plugin_style_default::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/views/plugins/ on line 25.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
Weekly Summary

Weekly Summary

(August 2013) India reintroduced capital controls on domestic investors to slow an outflow of cash that was pushing down the rupee to record levels against the US dollar. However, the US Federal Reserve's minutes of its latest policy meeting, which showed that it was on track to ease bond-buying this year, sent the rupee into a new tailspin. Currencies in other emerging markets also came under pressure and Turkey’s central bank raised interest rates to support the lira. The Brazilian real fell to its lowest level against the dollar in four years. Meanwhile on Friday, Microsoft announced Steve Ballmer, its CEO since 2000 is to retire in the coming 12 months and the software giant, which has missed the boat on mobile to both Apple (handsets/software) and Google on the dominant Android operating system while Google has become dominant in search, is in need of a retooling.
(June 2013) The Irish Government announced on Thursday that it would spend the remaining €6.4bn in a public pensions fund that had been used to fund bank recapitalisations. The pension fund is being wound up and the money will be put into a new Ireland Strategic Investment Fund (ISIF). With no independent oversight, the election war-chest is a welcome boost for the Labour Party, which is on the ropes mid-way in the election cycle.
(June 2013) The European Commission said it would allow some EU member states to slow their pace of austerity cuts, amid concerns over growth. France, Spain, Poland, Portugal, the Netherlands and Slovenia were given more time to complete their austerity plans, while Italy was removed from the so-called excessive deficit procedure. Annual US house prices in March rose at the highest rate since 2006 while consumer confidence jumped in April to the highest level since 2008.
(May 2013) The Eurozone’s GDP dipped for the sixth straight quarter, falling by 0.2% in the first quarter of 2013. The economy contracted in nine of the single currency's 17 countries, including France, which fell into recession for the second time in four years. Germany, grew by just 0.1%. Meanwhile, the UK unemployment rate was at 7.8% in the first three months of the year. The jobless rose by 15,000 compared with the previous quarter, to 2.52m. In Ireland, a paper published by the ESRI (Economic and Social Research Institute), said in a paper that Irish GNP (gross national product) and the Current Account surplus have been overstated because of the rise in large mainly US companies transferring headquarters to Ireland while having most of their operations overseas. The Wall Street Journal reported that the Obama administration on Friday cleared the way for broader natural-gas exports by approving a $10bn facility in Texas, a milestone in the US transition into a major supplier of energy for world markets.
(May 2013) Spain’s average borrowing costs fell Thursday after the country took advantage of positive market sentiment for financially stretched issuers to sell more government bonds than planned at an auction. The Spanish Treasury sold €4.57bn ($6.0bn) in three government bonds, maturing in 2016, 2018 and 2026, topping its €3.5bn to €4.5bn target range. meanwhile, the richest 1%, the world’s 1,426 billionaires, are likely stockholders in the Dow’s latest rally that’s more than doubled from the 6,547 bottom in March 2009 to the week's record over 15,000. Meanwhile GDP has been hurting the other 99%, as wages stagnated for this generation.
(May 2013) The European Central Bank cut its main interest rate on Thursday, but opposition from the German member of the central bank's six-man executive board, highlighted the constraints to further action. In the US non-farm payrolls rose by 165,000 last month and the unemployment rate fell to 7.5%, a four-year low, from 7.6%, the government said. In addition, hiring was much stronger than previously thought in February and March. Purchasing manager's index data showed a slowing of manufacturing activity in several countries, and on Friday, presenting the European Commission's spring economic forecasts, Olli Rehn, the European commissioner for economic and monetary affairs, said the Eurozone's gross domestic product (GDP) is now expected to shrink by 0.4%. The previous forecast was a 0.3% contraction.
(April 2013) European Union finance ministers meeting in Dublin on Friday agreed to allow Portugal and Ireland to repay their bailout loans later than initially agreed, officials said, in a bid to help the two governments wean themselves off bailout money in the coming year. On Tuesday, a partner of KPMG, the BIG 4 accounting firm based in its Los Angeles office, issued a statement admitting he provided stock tips on clients to a friend in exchange for cash and gifts. He will spend years in prison for his stupidity. Meanwhile, global PC sales tumbled 14% in the first quarter of 2013, the biggest slide since US research firm IDC began tracking the industry in 1994. The poor consumer response to Microsoft's Windows 8 operating system, contributed to the plunge.
(April 2013) Japan announced a massive bond-buying program to end deflation; the US added only 88,000 jobs in March and the ECB left its key refinancing rate at a record-low 0.75% at its monthly meeting on April 4, with Mario Draghi, ECB president, saying at a press conference that monetary policy “will remain accommodative for as long as needed.” Meanwhile the Portuguese government warned that a high court decision to strike down some austerity measures will put into question the country's ability to fulfill its €78bn international bailout program.
(March 2013) The news in Europe was dominated all week by fallout from the EU-IMF bailout deal for Cyprus that provided for unprecedented haircuts for insured depositors. Ireland reported a GDP rise of 0.9% in 2012 with the help of a 15% rise in computer services exports related to multinational tax strategies. Ryanair, Ireland's low fares airline, ordered 175 aircraft from Boeing at a list price of $15.6bn. In the UK George Osborne, chancellor of the exchequer, unveiled the government’s 2013 budget.
(March 2013) European Union finance ministers may next month agree to give Ireland and Portugal more time to repay bailout loans, Olli Rehn, economic and monetary affairs commissioner said. Meanwhile, US employers in February boosted hiring by adding 236,000 jobs, posting gains in almost every corner of the private sector. February's job creation compared with the 195,000-job-a-month average of the previous three months and pushed the jobless rate to a four-year-low of 7.7%.