European stock markets quickly reversed direction and fell for a second day

European stock markets quickly reversed direction and fell for a second day.

European stocks slid deeper into the red on Tuesday and the euro fell on rising expectations that Greece is set for a default despite fresh international efforts to resolve the debt crisis. 

German Chancellor Angela Merkel sought to ease fears over a possible Greek bankruptcy, saying the 17-country eurozone had to stick together and that an “uncontrolled insolvency” must be avoided.

 

US President Barack Obama warned overnight that the world economy would remain weak until the eurozone crisis was solved, as market anxiety mounted over debt woes in Greece, Spain and Italy.

 

The Paris CAC 40 tumbled 1.61 percent to 2,806.39 in afternoon deals, London s FTSE 100 stocks index dropped 0.63 percent at 5,097.90 points and in Frankfurt the DAX 30 index slid 0.20 percent to 5,062.22. Madrid lost 0.52 percent and Milan fell 0.17 percent.

 

Shares in French banks plummeted again amid rumours that China was refusing to buy Italian government bonds, dealers said. BNP Paribas, the bank most exposed to Italian debt, plunged by nearly 10.0 percent in early trading on the Paris stock exchange, with Societe Generale down by 4.0 percent.

 

 

Italy meanwhile placed bonds worth close to 6.5 billion euros ($8.8 billion) on Tuesday but the yield it had to offer reached a new high level, the Bank of Italy said, revealing a marked lack of investor confidence.

 

In foreign exchange trade, the euro dropped below $1.36 but was off 10-year lows against the yen struck on Monday.
Speaking to German radio station RBB on Tuesday, Merkel said “the top priority is to avoid an uncontrolled (Greek) insolvency, because that would not just affect Greece, and the danger that it hits everyone or at least several countries is very big.”

 

She stressed that the eurozone had to remain intact, hinting that if Greece were to leave the group, others would swiftly follow. “I have made my position very clear that everything must be done to keep the eurozone together politically. Because we would soon have a domino effect,” said the chancellor.

 

Source: http://www.latestcnnnews.com/european-stocks-down-on-second-consecutive-day.html

European stock markets quickly reversed direction and fell for a second day

European stock markets quickly reversed direction and fell for a second day.

European stocks slid deeper into the red on Tuesday and the euro fell on rising expectations that Greece is set for a default despite fresh international efforts to resolve the debt crisis. 

German Chancellor Angela Merkel sought to ease fears over a possible Greek bankruptcy, saying the 17-country eurozone had to stick together and that an “uncontrolled insolvency” must be avoided.

 

US President Barack Obama warned overnight that the world economy would remain weak until the eurozone crisis was solved, as market anxiety mounted over debt woes in Greece, Spain and Italy.

 

The Paris CAC 40 tumbled 1.61 percent to 2,806.39 in afternoon deals, London s FTSE 100 stocks index dropped 0.63 percent at 5,097.90 points and in Frankfurt the DAX 30 index slid 0.20 percent to 5,062.22. Madrid lost 0.52 percent and Milan fell 0.17 percent.

 

Shares in French banks plummeted again amid rumours that China was refusing to buy Italian government bonds, dealers said. BNP Paribas, the bank most exposed to Italian debt, plunged by nearly 10.0 percent in early trading on the Paris stock exchange, with Societe Generale down by 4.0 percent.

 

 

Italy meanwhile placed bonds worth close to 6.5 billion euros ($8.8 billion) on Tuesday but the yield it had to offer reached a new high level, the Bank of Italy said, revealing a marked lack of investor confidence.

 

In foreign exchange trade, the euro dropped below $1.36 but was off 10-year lows against the yen struck on Monday.
Speaking to German radio station RBB on Tuesday, Merkel said “the top priority is to avoid an uncontrolled (Greek) insolvency, because that would not just affect Greece, and the danger that it hits everyone or at least several countries is very big.”

 

She stressed that the eurozone had to remain intact, hinting that if Greece were to leave the group, others would swiftly follow. “I have made my position very clear that everything must be done to keep the eurozone together politically. Because we would soon have a domino effect,” said the chancellor.

 

Source: http://www.latestcnnnews.com/european-stocks-down-on-second-consecutive-day.html

India: Shah Rukh Khan no happy with Kareena

India: Bollywood king actor Shah Rukh Khan has said that Kareena Kapoor has no time for him.

The music launch of Bollywood’s expensive film Ra One was held at Film City on Monday.At the packed venue, SRK lifted a noticeably heftier Kareena who had come in late, and joked:  She no longer has time for me, yeh aaj kal sirf chote chote Khans ke saath kaam karti hain .

Source:
http://www.latestcnnnews.com/india-bollywood-actress-shah-rukh-khan-gets-angr...

India: Shah Rukh Khan no happy with Kareena

India: Bollywood king actor Shah Rukh Khan has said that Kareena Kapoor has no time for him.

The music launch of Bollywood’s expensive film Ra One was held at Film City on Monday.At the packed venue, SRK lifted a noticeably heftier Kareena who had come in late, and joked:  She no longer has time for me, yeh aaj kal sirf chote chote Khans ke saath kaam karti hain .

Source:
http://www.latestcnnnews.com/india-bollywood-actress-shah-rukh-khan-gets-angr...

Chinese Premier Wen Jiabao says he is confident that China will maintain economic growth

Chinese Premier Wen Jiabao says he is confident that China will maintain economic growth.
China s Premier Wen Jiabao on Wednesday said China will keep monetary policy right to keep a lid on inflation, but also signaled caution to avoid hurting the world s second-largest economy.

“China will adhere to the strategy of expanding domestic consumption, focus on adjusting and optimising the demand structure and increase the momentum triggered by consumption,” he said.

 

He vowed to keep a tight lid on inflation, following a drop in annual inflation figures from a three-year high of 6.5 percent in July to 6.2 percent in August. He also signaled caution to avoid hurting the world s second-largest economy.

 

“We will continue to implement positive fiscal policies and prudent monetary policies, aimed at tackling the prominent problems emerging during economic operation to keep the continuity and stability of China s macro-economic policies,” Wen said.

 

“The governments of all the countries must truly take responsibility and take care of their own affairs. The main developed countries must take responsible and effective fiscal policies to properly cope with the sovereign debt issues,” he said.
He also called for European countries to recognise China as a market economy.

 

Wen delivered the opening speech at the event, known as “summer Davos”, since the World Economic Forum first began staging the event in China in 2007.

 

Source: http://www.latestcnnnews.com/chinese-premier-wen-jiabao-to-fight-inflation.html

Chinese Premier Wen Jiabao says he is confident that China will maintain economic growth

Chinese Premier Wen Jiabao says he is confident that China will maintain economic growth.
China s Premier Wen Jiabao on Wednesday said China will keep monetary policy right to keep a lid on inflation, but also signaled caution to avoid hurting the world s second-largest economy.

“China will adhere to the strategy of expanding domestic consumption, focus on adjusting and optimising the demand structure and increase the momentum triggered by consumption,” he said.

 

He vowed to keep a tight lid on inflation, following a drop in annual inflation figures from a three-year high of 6.5 percent in July to 6.2 percent in August. He also signaled caution to avoid hurting the world s second-largest economy.

 

“We will continue to implement positive fiscal policies and prudent monetary policies, aimed at tackling the prominent problems emerging during economic operation to keep the continuity and stability of China s macro-economic policies,” Wen said.

 

“The governments of all the countries must truly take responsibility and take care of their own affairs. The main developed countries must take responsible and effective fiscal policies to properly cope with the sovereign debt issues,” he said.
He also called for European countries to recognise China as a market economy.

 

Wen delivered the opening speech at the event, known as “summer Davos”, since the World Economic Forum first began staging the event in China in 2007.

 

Source: http://www.latestcnnnews.com/chinese-premier-wen-jiabao-to-fight-inflation.html

Mustafa Abdul-Jalil addressed a crowd of thousands in Martyr’s Square in central Tripoli.

Libya leader Mustafa Abdul-Jalil addressed a crowd of thousands in Martyr’s Square in central Tripoli.
The chief of Libya s revolutionary movement told thousands of cheering Libyans in Tripoli Monday to strive for a civil, democratic state, while loyalists of the hunted dictator Moammar Gaddafi killed at least 15 opposition fighters in an attack on a key oil town in Libya s east.

 

Mustafa Abdul-Jalil addressed a rowdy crowd of thousands in Martyr s Square in central Tripoli, a site that until recently was famous for pro-Gaddafi rallies. Flanked by a few dozen revolutionary leaders in their largest public gathering since rebel forces stormed into the capital on Aug. 21, he called on Libyans to build a state based on the rule of law.

 

“No retribution, no taking matters into your own hands and no oppression. I hope that the revolution will not stumble because of any of these things,” he said.

 

As he spoke, thousands waved flags, cheered and chanted, “Hold your head high, you re a free Libyan!” Some wept openly as fireworks exploded overhead.

 

 

Source: http://www.latestcnnnews.com/libyas-leader-abdul-jalil-revolutionary-calls-fo...

 

Abdul-Jalil heads the National Transitional Council, founded in the eastern city of Benghazi early in the six-month civil war to guide the rebel movement. Its leaders have been arriving in the capital since it fell into rebel hands last month to start building a new government.

 

Abdul-Jalil, who served as Gaddafi s justice minister before joining the rebels at the uprising s start, defined the government he says the NTC hopes to create.

 

“We strive for a state of the law, for a state of prosperity, for a state that will have Islamic sharia law the basis of legislation,” he said.

 

Abdul-Jalil said the new Libya would focus on youth and women, adding that some ministries and embassies would be headed by women. Some have criticized the rebel movement for not putting women in leadership roles, and none stood on stage with the movement s leaders.