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Germany to beat export record despite China worries: trade body
September 06, 2015 MONEY (MSM)

Germany to beat export record despite China worries: trade body

Germany will set another export record this year despite recent worries of an economic slowdown in China, the head of the German trade association said in an interview published on Sunday. Economists have expressed concern that China’s woes might become a burden for Germany’s export-centric economy, Europe’s largest, which has the greatest exposure to China of all 28 EU member states. China is the Germany’s fourth biggest export market, accounting

September 06, 2015 ENTERTAINMENT (MSM)

'Queen's vagina' sculpture at Versailles vandalised again

A controversial sculpture by artist Anish Kapoor on display in the gardens of France’s Palace of Versailles, and which has become known as the “queen’s vagina”, was vandalised Sunday for the second time. Officially known as “Dirty Corner,” the giant steel funnel that Kapoor himself has described as “very sexual” was covered in anti-Semitic graffiti in white paint, said Versailles president Catherine Pegard. The 60-metre (200-foot) long, 10-metre (33-foot) high

G20 eyes faster economic reforms as cheap credit not enough for growth
September 06, 2015 MONEY (MSM)

G20 eyes faster economic reforms as cheap credit not enough for growth

Financial leaders from the world’s 20 biggest economies agreed on Saturday to step up reform efforts to boost disappointingly slow growth, saying reliance on ultra-low interest rates would not be enough to accelerate economic expansion. “Monetary policies will continue to support economic activity consistent with central banks’ mandates, but monetary policy alone cannot lead to balanced growth,” the communique of the G20 finance ministers and central bankers said.

IMF's Lagarde says Fed should not rush its rate rise decision
September 06, 2015 MONEY (MSM)

IMF's Lagarde says Fed should not rush its rate rise decision

The U.S. Federal Reserve should not rush its decision to raise interest rates and should move only when it is sure the decision is unlikely to be reversed later, the head of the International Monetary Fund, Christine Lagarde, said on Saturday. Many emerging market economies are concerned that a Fed rate rise would trigger large outflows of capital from emerging economies into dollar-denominated assets, creating market turmoil that would hurt

Fiat Chrysler CEO says desired tie-up with GM 'high priority'
September 06, 2015 MONEY (MSM)

Fiat Chrysler CEO says desired tie-up with GM 'high priority'

Fiat Chrysler Automobiles (FCA) boss (FCHA.MI) Sergio Marchionne said on Sunday a tie-up with General Motors (GM.N) was a “high priority” for the company and a merger between the two carmakers was also the best strategic option for its U.S. rival. “That discussion remains a high priority for FCA,” he told journalists on the sidelines of the Formula One Italian Grand Prix.