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USA Today Opens Up its Data

October 25, 2011 by Jenz514   Comments (0)

A recent article reports, “Many newspapers and other traditional media entities still think of themselves as delivering their content in a specific package… But few are thinking about their businesses in radically different ways — as content-generating engines with multiple delivery methods, or as platforms for data, around which other things can be built. USA Today appears to be moving in this direction, by opening up its data for others to use and even commercialize, following in the footsteps of The Guardian and its ground-breaking open platform.” continued…


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Bank of Canada Keeps Interest Rate at 1.00%

October 25, 2011 by CentralBankNews   Comments (0)

The Bank of Canada kept its target for the overnight rate unchanged at 1.00%; also holding the Bank Rate at 1.25% and the deposit rate at 0.75%.  The Bank noted: "The global economy has slowed markedly as several downside risks to the projection outlined in the Bank's July Monetary Policy Report (MPR) have been realized. Financial market volatility has increased and there has been a generalized retrenchment from risk-taking across global markets. The combination of ongoing deleveraging by banks and households, increased fiscal austerity and declining business and consumer confidence is expected to restrain growth across the advanced economies.  The Bank now expects that the euro area—where these dynamics are most acute—will experience a brief recession." 

Previously the Bank of Canada also held the target interest rate unchanged at its September meeting; it's last move was a 25 basis point increase to 1.00% in September last year.  Canada reported annual CPI inflation of 3.2% in September, compared to 3.10% in August, 2.7% in July, 3.1% in June, 3.7% in May, and 3.3% in April, the same as March, according to Statistics Canada.  The Bank of Canada has an inflation target of 2 percent over the medium term.  

Canada reported year on year GDP growth of 2.2% in Q2 this year, compared to 2.9% in Q1, while "the Bank projects that the economy will expand by 2.1 per cent in 2011, 1.9 per cent in 2012, and 2.9 per cent in 2013."  The Canadian dollar (CAD), also known as the Loonie, has weakened by 1% against the US dollar so far this year, while the USDCAD exchange rate last traded around 1.01.  The Bank of Canada next meets on the 6th of December

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Greek Crisis Resolution: An Alternative Plan

October 25, 2011 by Sahil Alvi   Comments (0)

Despite the various permutations and combinations being proposed by various sides involved in the attempted resolution of the Greek sovereign debt crisis, there seems to be a dangerous chasm building among institutional stakeholders (Greek government, EU Commission, ECB/EFSF, IMF, G-20, German government, French government, private sector bond-holders, Greek populace, etc.). There seems to be a case of “stove-pipe” approach among the various economists, politicians, policy- makers, and bureaucrats who are trying to come up with a solution. They seem to be unable to connect the dots and provide a “holistic” solution that addresses economic, financial, structural, social, and most of all, political issues – all at the same time.


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