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Doubts about Pandit's inaction at Citi, suggesting that restructuring needs to move faster.

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Denning uses the Brazilian government's scrapping of a 6% tax on foreign purchases of bonds to slow the slide in the value of the Brazilian currency, the Real, to point to the changed situation today for Brazil, India, Turkey and S. Africa. Current account deficits in these countries are high, and foreign investors sentiment about emerging markets may be affected by the street protests in Turkey, reducing inflows of capital. The mining worker protests in S. Africa and the street protests in Turkey, have led to a decline in the currencies of the two countries. The Fed's quantitative easing program may be coming to a close, which would reduce the flows of capital to emerging market countries. Turkey has seen a boom in domestic credit supported partly by foreign capital inflows. The current account deficit to GDP ratio for Turkey is expected to be 7.28% in 2013, for S. Africa 6.46%, and Brazil 3.25%, according to IMF forecast.

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Efforts by Spain's government of prime minister Rajoy to come up with credible estimates about the actual needs for recapitalization of troubled parts of the banking system, and which banks should be closed. Report out in June by consulting firms Oliver Wyman and Roland Berger relies on information from the Bank of Spain. A detailed audit examining the books of the 14 largest banks in Spain will be completed by audit firms by the end of July 2012. Considerable criticism in banking circles in Barcelona and London about the procrastination by Spanish banking authorites in coming up with credible estimates of the actual bad loans and losses in the Spanish banking system. This would improve confidence in financial markets that the problems can be controlled and a way forward planned.

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U.S. President Obama's 2013 State of the Union address focussed on the problems facing the U.S. middle class, calling it "our generation's task" to tackle this problem. Economic changes have changed the patterns of economic growth and jobs, growth, income growth, that prevailed from the end of the Second World War to about 1989. But he offered few solutions beyond increasing the minimum wage to $9.00 from $7.25 to reduce poverty.

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Oil prices in the U.S. drop to $55 a barrel on the New York Mercantile Exchange, and $65 a barrel for Brent crude price. Earlier expectation of the impact of reimposed sanctions on Iranian oil shrinking global oil supplies have been reversed with increased production from Saudi Arabia, Russia and the U.S.

Another new development that caused this reversal in sentiment is that the Trump administration granted waivers to some buyers of Iranian crude oil. The U.S. trade dispute with China has also added to this with lower growth forecasts. Unlike in previous years OPEC or Saudi Arabia cannot by itself shrink global supplies with production cuts. The U.S. and Russian output also plays a significant part.

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On the Rosneft IPO. Strong demand for the IPO shares will help raise at least $10 billion for Rosneft. Successful implementation of new Russian energy policy to build a number of large state run energy companies and modernize it energy sector as a basis for Russian economic growth.

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Merck's new cholesterol drug Anacetrapib reduced bad cholesterol by 40% and increased good cholesterol by 138% in a recent study. This drug does not increase blood pressure in animals. A drug research effort for torcetrapib was abandoned by Pfizer after the cholesterol drug was found to increase blood pressure.

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business analytic software is a $23 billion market and is a market that is growing. IDC forecasts growth of 3.45% growth for this market in 2009. It expects 2% growth in the $45 billion analytics consulting business. IBM, HP, SAP and Oracle are dominant players in these areas.

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Monica Hesse gives this exceptional story of Gladys Ament, which is the story of American women as they voted in election after election after the 19th Amendment gave women the right to vote in 1920. In 2016 she is 96 years old and used an absentee ballot to vote for a first women president for the U.S.. Ament gives this touching and graceful account of a woman who lived through many presidents, and never failed to exercize her vote in every election held since the day she was born on Aug. 26, 1920. That day Tennessee became the 36th state to ratify the 19th Amendment giving it the majority needed to become the law of the land. This was the year Woodrow Wilson, a Democrat, was in office. Her story starts in a two room schoolhouse in Lonaconing, Maryland, population 2054, when America was largely rural and rapidly urbanizing. The girls did the housework and the boys worked in the coal country, and women were not considered to be the ones in the home to go to a college or university. She dated a man who worked for the phone company, and later was drafted in the war. She joined Montgomery Ward filling catalogue orders. Her first vote was for FDR in 1944, in reality for Eleanor Roosevelt. And then she voted for Harry Truman, who she liked for his plain talk manner. Then Eisenhower, Nixon, Humphrey, McGovern, Carter, as she fulfilled the role of a mother and teachers aide at a school for special needs children. Her husband was not sure her daughter Mary needed to follow the two sons to college, but she made sure Mary did even though tution money was tight. She loved the self-respect which came with working, she was patient. The opportunities came and it was Mary who pursued her education and became an administrator who also supervised men. Things had changed, nobody thought of it twice, what Gladys had struggled with was now the accepted way of things. Then came a granddaughter and by this time young women had more opportunities, and there were as many women in universities as men. Gladys voted for the first black president and then for a first woman president at 96, 96 years after the ratification of the 19th Amendment giving women the vote in America. After that election in which she really voted for Eleanor Roosevelt- who was all over the country making speeches and talking to people to bring hope during the Depression years- she could see the potential in a next woman as president. She had seen some of the 18 presidents who had led the country as good leaders and some not so good, some who were seen as good in their years in office but later seen as having done poorly, she could see that women could do just as well or better after all these years of her voting and learning. ...

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This piece in the Economist magazine points out why people in Portugal, Spain and Italy resent the remarks of Dutch finance minister, Jeroen Dijsselbloem, current head of the Eurogroup council of finance ministers, In an intervew with Germany daily Frankfurter Allgemeine Zeitung, he said he was proud of the solidarity shown by northern European countries with the southern ones, but solidarity he said means obligations- " I cannot spend all my money on schnapps and women, and then ask for your support."  It also points out that Dijsselbloem's Labor Party lost three fourths of its seats in the recent Dutch elections and so is an unrepresentative presence in the Eurogroup. By supporting austerity policies in a coalition with a centre right party the Labor Party lost most of its seats. Dijsselbloem did this in the EU with strict rules for Italy for injecting money to recapitalize its banks and increase growth that have hurt Italy, and earned the resentment of Mr. Renzi, says the Economist magazine.He may even be replaced by an official from Spain or another southern European country, says the magazine. In any case it does little for EU unity at a sensitive time, and was a serious mistake. The timing was even worse, as the EU faces a test in elections in France and Germany, after Netherlands, and needs popular perceptions to be positive about what has been achieved since the dark days of 1945. ...

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Pulitzer prize winning journalist reporting on the Middle East and Saudi Arabia, Karen Elliott House, describes the changes in Saudi society and politics against the backdrop of the changes in the Middle East. Her exceptional reporting and insights provide a look into the Middle East at a time when young people make up the largest demographic and are looking for jobs and economic opportunity, with political structures lagging far behind in meeting the growing aspirations. The larger backdrop of the region extends into South Asia, with large Muslim populations unable to make the right choices for freedom and economic progress because of internal divisions, widespread illiteracy and lack of education of the rural population, and poor leadership. The lag affects western society in different ways, including the threat of terrorism, sporadic involvement in the region's conflicts, and a sense of not being able to do the right thing by its own ideals.

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Patrick Barta's exceptional reporing on Manek Chowk, a busy industrial and commercial centre of Ahmedabad. Manek Chowk, the public market in Ahmedabad, India, where street vendors find jobs in the informal economy. The informal economy provides most of the jobs in countries like India and Brazil. They could be street vendors, rickshaw drivers, workers doing textile stitching work and being paid by the piece, and so on. Ahmedabad has 55,000 richshaw drivers, 70,000 street vendors, 70,000 construction workers, and 45,000 rovish trash collectors and recyclers. Most of the city's once prominent textile mills have vanished or are rotting. If Ahmedabad makes it through this difficult period with job losses in India, its because of a thriving local informal economy. It may not provide what a regular job provides, but it helps people feed their families and they are happy to make it through the tough times. And even in the better times the jobs just do not exist in the proportion necessary in countries like India and Brazil. Consider this. Between 2000 and 2005, the number of formal jobs in India stayed flat at about 35 million, while informal jobs grew 17% to 423 million, according to the Indian government. These are the most recent years for which information is available. Economists say the creation of formal jobs may have picked up after 2005, but not by much. The situation is like this all over much of Africa, Asia and Latin America. And as companies layoff formal workers in favor of cheaper employees part-time and without benefits, the importance of the informal economy grows. In Ahmedabad the rights of these people are protected in the case of women by the Self Employed Women's Association of India, which numbers 1 million people across India....