27Jan

US Economy Expands by 2.8%

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In the final quarter of 2011, the US economy grew by 2.8% as the consumers ramped up their spending and businesses boosted their production.
The first reading of GDP growth of the commerce department in the fourth quarter was slightly below economists’ expectations of a 3% annualised pace. However, it was an acceleration from the third quarter’s tepid increase of 1.8%.
Growth was lifted by a 2% rise in consumer spending, compared with 1.7% in the third quarter. Even though, it was still lower than the forecast of 2.4%.

23Jan

Intel Succession Clues in Reshuffle

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Intel has just announced a management reshuffle to provide fresh clues to the eventual successor to Paul Otellini as chief executive.
Head of manufacturing—Brian Krzanich, is also taking on a chief operating officer role.

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The International Monetary Fund (IMF) said they would try to increase their resources through the $ 500 billion (£ 325bn) to help stabilize the world economy. The extra money could be used to fight to the countries in the euro zone to pay their debts.

But the IMF said that it may be up to $ 1TN “in the coming years. The $ 500 billion includes the recent European commitment to the € 150 billion (£ 125bn, $ 194bn) are committed to the IMF, said the 187-nation body. Based on staff estimates of potential global financing requirement of about $ 1TN in the coming years, the fund would aim to up to $ 500 billion of additional lending resources,” said the IMF. “In this first phase, we examine ways of funding and will have no further comment, pending the completion of the necessary consultations with the members of the Fund.”