Euro-Zone Data Add to Signs of Slump
Manufacturing in the euro zone contracted in October at its steepest rate since July 2009, adding to signs that growth in the region is grinding to a halt.
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G-20 Scrambles to Contain Euro-Zone Crisis
G-20 leaders scrambled to arrange emergency measures aimed at preventing the sovereign-debt crisis from contaminating the rest of Europe and the global economy.
ECB Cuts Key Rate
The European Central Bank cut interest rates, taking a decisive step against rapidly growing risks to the euro zone’s economic outlook and financial stability.
One Killed in Red Sea Ferry Blaze
A Jordanian man died while 1,246 other passengers and crew members were rescued following a fire aboard their ferry that was sailing on the Red Sea en route to Egypt’s port of Nuweiba.
Greece’s Government On the Brink
George Papandreou said through a spokesman that he was open to talks with a leading opposition party to push through reforms required for financial aid, amid speculation he will have to resign.
Top-selling Chevrolet celebrates 100 years
(By Tom Krisher, Associated Press) We saw the USA in them. We drove them to the levee. We even worked on our night moves in their back seats. For a century, Chevrolets won America’s love with their safety, convenience, style and speed – even if sometimes they were clunky, or had problems with rust or their rear suspensions.
Duke Energy posts 30% drop in 3rd-quarter profits
(By David Perlmutt, dperlmutt@charlotteobserver.com) Charlotte-based Duke Energy reported third quarter profits dropped 30 percent, largely after power sales declined, and costs for a new Indiana power plant came in larger than expected. The utility reported earnings of $472 million, or 35 cent a share, for the three months that ended Sept. 30 — compared with $670 million, or 51 cents a share, for the same three months in 2010.
Argentina To Overhaul Subsidy Regime
Argentina’s said it will overhaul the costly energy and transportation subsidies that have become a growing burden on public finances, signaling an end to a key pillar of President Cristina Kirchner’s economic program
U.S. Firms Pose Hurdle for Yuan
China’s effort to make the yuan a global reserve currency has hit a snag: While American companies have poured into China, they have been slow to make use of the yuan.
Afghanistan, Regional Powers Discuss Next Steps
Afghanistan’s neighbors and regional powers agreed to a “road map” of confidence-building measures, from building road and rail connections to cooperating on border controls, aimed at strengthening the war-torn nation as U.S. forces withdraw.
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