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Chávez’s socialist dream fades fast

Tue, 04/16/2013 - 08:44 EDT

Month and a half after the death of Hugo Chavez, his successor Nicolas Maduro, who proclaimed himself as a “son of Chavez”, won the presidential elections in Venezuela last weekend.

Nicolas Maduro won the elections with 50.7 of the vote, while his opponent Henrique Capriles collected 49.1%, the difference between them, which accounted for only 235,000 votes. Mr Capriles rejected the results and said he would wait until the audit.

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Citigroup, New York Manufacturing, J.C. Penney Co and Canadian dollar in Our Daily Round-Up for 04/16/2013

Tue, 04/16/2013 - 04:32 EDT

daily markets round-up

Citigroup’s Q1 financial report showed higher than expected results on both revenue and profit. In April New York state industrial sector’s growth has slowed more than forecasted. J.C Penny Co announced that it has withdrawn $850 million from its $1.85 billion revolving credit line. Canadian dollar lost three-quarters of the US cent yesterday morning following a massive sales of gold and news for slower economic growth.

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China enters era of slower growth

Tue, 04/16/2013 - 03:35 EDT

Yesterday the Chinese government announced that the country’s economy has entered a period of slower growth after thirty years of double-digit economic increase, reported Financial Times.

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Walmart starts campaign ‘Made in America’

Mon, 04/15/2013 - 09:05 EDT

US largest retailer – Walmart plans to start a campaign for more goods, made in America instead of imported from overseas. The company promised to increase its purchases to US manufacturers by $50 billion over the next 10 years for its Walmart and Sam’s Club stores.

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Cyprus, Asian Debt, ECB and Eric Schmidt in Our Highlights for Today 04/15/2013

Mon, 04/15/2013 - 05:28 EDT

daily markets round-up

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UK pension deficits set to rise by £100bn

Mon, 04/15/2013 - 03:44 EDT

According to forecasts, reports, from British companies releasing their annual results for the year to March, will show near £100 billion increase in their aggregate pension scheme deficits, reported Financial Times.