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Economy


Fujii Says He'll Contact U.S., Europe on Currencies If Needed as Yen Jumps Japanese Finance Minister Hirohisa Fujii said he may contact U.S. and European officials to act on currencies, amid concern the yen’s surge to a 14-year high will hamper the economic recovery.

European Economic Confidence Climbs to Highest Level Since Lehman Collapse European confidence in the economic outlook improved in November to the highest since the collapse of Lehman Brothers Holdings Inc., suggesting the recovery in the 16-nation euro region is gathering strength.

Spain's Almunia, France's Barnier, Finland's Rehn Get Top EU Economy Jobs European Economic and Monetary Affairs Commissioner Joaquin Almunia, a Spanish Socialist known for tackling countries’ deficits, will be antitrust chief in the next European Commission, succeeding Neelie Kroes.

Fed, Treasury Examiners Faulted in Watchdog Reports on U.S. Bank Failures Treasury Department and Federal Reserve examiners should have done more to halt risky lending at U.S. banks that failed amid real-estate losses, reports by agency watchdogs show.

Japan Consumer Prices Fall Near-Record 2.2%, Reinforcing Deflation Concern Japan’s consumer prices fell at a near record pace in October, reinforcing the government’s concern that deflation will hamper the economy’s recovery from its worst postwar recession.

Dubai Shows Limits of Government Bailouts for Markets, Roubini's Das Says The worldwide decline in equities spurred by Dubai’s efforts to reschedule its debt is a sign that government spending alone won’t be enough to protect financial markets, according to Arnab Das of Roubini Global Economics.

Japan Focusing on Yuan-Yen Rate Rather Than Dollar Level, Citigroup Says Japanese officials are more likely focused on the exchange rate of the yen versus China’s yuan rather than against the dollar, according to Citigroup Inc., citing the fact that China is Japan’s biggest trading partner.

EU Exports to China Dropped 5.3% in First Half as Euro Gained Against Yuan European exports to China, the world’s fastest-growing major economy, fell 5.3 percent in the first half of the year as the euro’s appreciation made the goods from the region less competitive abroad.

Lithuania Won't Risk `Killing' Economy to Meet Euro Terms, Kubilius Says Lithuania won’t adhere to a “painful” euro adoption schedule that would quell demand and hurt the economy, Prime Minister Andrius Kubilius said.

China's Politburo Pledges to Maintain Monetary, Fiscal Stimulus Next Year China’s Politburo, the Communist Party’s top decision-making body, said the nation will maintain stimulus policies next year as the world’s third-biggest economy recovers from the global slump.


Fed Watch


Fed, Treasury Examiners Faulted in Watchdog Reports on U.S. Bank Failures Treasury Department and Federal Reserve examiners should have done more to halt risky lending at U.S. banks that failed amid real-estate losses, reports by agency watchdogs show.

Fed Officials Said Low Rates May Fuel `Excessive' Speculation, Minutes Say Federal Reserve officials said record-low interest rates might fuel “excessive” speculation in financial markets and possibly dislodge expectations for low inflation, according to minutes of their meeting released today.


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