IMF warns of deflation risk - (money.cnn.com) The
International Monetary Fund is warning that dangerously low inflation could put
the global economic recovery at risk in 2014. The IMF on Tuesday upgraded its
2014 forecast for economic growth in the United States and most other major
developed economies. Global growth should accelerate to 3.7% from 3% last year,
thanks to the recovery in advanced economies. That's a slight increase from its
October projection. But it rang alarm bells about low inflation. "Risks to
activity associated with very low inflation in advanced economies, especially
the euro area, have come to the fore," the IMF said.
Bailout Risk, Far Beyond the Banks - (www.nytimes.com) Everyone
knows that the largest of our nation’s banks would be destined for a taxpayer
bailout if they ran into trouble anytime soon. But which nonbank financial
institutions — say, asset management companies offering hedge funds or mutual funds —
might also pose too-big-to-fail risks because of their size and
interconnections? It’s what you could call the $53 trillion question. That’s
the amount of assets currently overseen by the United States money management
industry, federal regulators say. Last week, global financial regulators moved
a step closer to answering that question. A paper published by the Financial Stability
Board and the International Organization of Securities Commissioners laid out
how regulators planned to identify financial entities that are not banks or
insurance companies but nonetheless are systemically significant and whose
failure could pose a threat.
Russia
urges Europe not to interfere in Ukraine, fears growing crisis - (www.reuters.com) Russian
Foreign Minister Sergei Lavrov urged European governments on Tuesday not to
interfere in Ukraine's political crisis and expressed concern that events in
Kiev could be spinning out of control. Moscow, which sees its fellow former
Soviet republic as part of its traditional sphere of influence, has watched
nervously as protests against President Viktor Yanukovich's decision to shun a
trade pact with the European Union have turned violent. Yanukovich, who
received a multi-billion dollar bail-out package from Moscow after he spurned
the EU deal, has angered protesters by signing sweeping laws to curb public
protest.
Bombardier
to cut 1,700 aerospace jobs, most in Montreal - (www.reuters.com) Bombardier
Inc (BBDb.TO),
the Canadian plane and train maker, said on Tuesday it will lay off 1,700
employees in its aerospace division, primarily in the Montreal area. The
company, which again delayed the launch of its $3.9 billion CSeries jetliner
last week, said it is reducing staff as part of a cost-cutting push that began
in 2012. Bombardier said 300 of the 1,700 jobs had already been cut in December
and that it would try to match employees whose jobs were being eliminated with
a "few hundred" positions it is currently trying to fill. The
Montreal-based company, which has 22,200 of its 38,350 global aerospace
employees in Canada, said the cuts will be made in several sectors, including
manufacturing, engineering, sales and support.
Family
with disabilities denied Obamacare coverage, 'stuck' with more expensive plan - (www.mlive.com) A
Bangor Township family of four, all of whom have disabilities, say they fall
within a niche that makes the Affordable Care Act more of a burden than a
blessing. Now, they say, they'll be paying nearly $8,000 more per year for
medical care after being denied coverage through Obamacare. The family in
question is the Daverts — husband and wife Ken and Melissa and their
15-year-old twins Austin and Michaela. The twins and their mother are afflicted
with osteogensis imperfecta, a disease that makes their bones extremely
fragile. They are also highly susceptible to lung infections. Ken Davert has
cerebral palsy. Ken and Melissa “Missy” Davert receive their income from Social
Security disability payments and have health insurance through Medicare, but
that plan does not cover their children. Until recently, the children were
covered by a private Blue Cross plan. They remain covered by a supplemental
plan through the Michigan Department of Community Health’s Children’s Special
Health Care Services, which only assists in matters directly linked to their
bone disease.
Global
Hedge Funds Assets Climb 17% to a Record $2.63 Trillion - (www.bloomberg.com)
Geithner Said U.S. Would Respond to Downgrade, S&P Says - (www.bloomberg.com)
Geithner Said U.S. Would Respond to Downgrade, S&P Says - (www.bloomberg.com)
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