Goldman Sachs cut its global 2012 economic growth forecast to 3.5% from 4.3%. The company expects a mild recession in Germany and France and a deeper downturn in Eurozone’s periphery over next few quarters, economists Jan Hatzius and Dominic Wilson wrote in a note yesterday. Goldman also lowered its three-month forecast for the euro to $1.38 per dollar from an earlier projection for it to trade at $1.40. The common currency will be at 106 yen in three months, compared with a previous estimate of 108 yen, the bank said in a separate report. Eurozone finance ministers said yesterday that they were reviewing the size of the private sector's involvement in a second bailout package for Greece, a move that could hasten the threat of a debt default. Ministers also agreed that Greece could wait until mid-November until it receives the next instalment from the existing emergency aid programme, putting further pressure on Athens to resolve its debt problems. A SURVEY by JPMorgan shows that…
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Yahoo, the troubled internet giant, has emerged as a possible acquisition target of Alibaba, the Chinese internet company which is 40% owned by Yahoo, according to reports. Marks & Spencer is bringing in this year's finalists from 'The X Factor' to star in its traditional celebrity-studded Christmas campaign. Former Channel 4 chief executive Andy Duncan is leaving his post with luxury automotive retailer HR Owen, to become managing director at Camelot UK Lotteries. Mick Perry, head of airtime sales at Channel 4, has stepped down from his role with the broadcaster less than 18 months after his arrival. Reach Scotland, the tour operator, has appointed its first-ever marketing director, as it looks to drive up customer numbers during its first year. KOHLBERG KRAVIS ROBERTS & CO. L.P. KKR announced the appointment of Tony De Nunzio as a senior advisor to the firm. De Nunzio was the chief executive of Maxeda, a Dutch retail group. LPL INVESTMENT HOLDINGS INC LPL Financial, a subsidiary of LPL…
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GREECE is set to miss its deficit targets for both this year and next, its finance ministry admitted last night. Finance minister Evangelos Venizelos said that the deficit is due to come in at 8.5% of GDP this year, almost a whole percentage point above the 7.6% target agreed with Greece’s international lenders. It will miss the target by less next year, he claimed, forecasting a deficit of 6.8% of GDP versus the 6.5% target. However, the Greek cabinet did manage to rubber-stamp its 2012 austerity budget. � � Consumer spending in the US slowed in August as incomes unexpectedly dropped for the first time in almost two years, forcing households to dip into savings. Purchases rose 0.2% after a 0.7% increase in July, Commerce Department figures showed last Friday. Incomes decreased 0.1%, the first decline since October 2009. Economists had forecast incomes would rise 0.1%, according to a Bloomberg survey. Signs of stability in China’s manufacturing industry in September may ease concern the world’s…
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De ‘slasher’ generatie is in opmars. We hebben het hier niet over een figurant in een horror-film, maar over de persoon die een veelvoud van functietitels heeft, zoals muzikant/leraar/schrijver. Deze trendsetters, vaak van de generatie Y, geven carrières en organisaties een nieuwe inhoud. Demograaf Bernard Salt zegt dat Generatie Slashie (schuine streep) overal te vinden is. Een advocaat heeft misschien een blog, of zou kunnen werken aan een filmscript. Een marketeer produceert wellicht een film. De gemiddelde baby boomer was op 21-jarige leeftijd getrouwd, had twee jaar later een kind en op zat op 25-jarige leeftijd vast aan een hypotheek, wat betekende dat zij een stabiele baan nodig hadden, zegt hij. ‘Als je dit alles wegdenkt heb je generatie Y voor je; zij trouwen niet vroeg, hebben geen kinderen of hypotheek, zijn goed opgeleid en vol vertrouwen. Zij doen wat ze willen doen voor zo’n 10 jaar en gaan daarna pas settelen. Kortom, ze proberen veel nieuwe dingen,’ aldus Salt. ‘Het heeft dit perfecte klimaat…
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