FIGHT-THE-BANK: G20 summit ends with pledge to boost IMF

Friday, November 4, 2011

G20 summit ends with pledge to boost IMF - NOV-04-2011-

G20 summit ends

with pledge to boost IMF

Nov-04-2011--G20 leaders have ended their summit in Cannes after two days dominated by Greek turmoil and the threat to the euro zone and beyond.

Many big issues have been put to one side. Leaders vowed to boost the resources of the International Monetary Fund.

But no countries outside the euro zone have agreed to contribute to its bailout fund.

Barack Obama found a positive way to tell Europe to sort out its debt crisis.

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GLOBAL MARKETS-

Stocks, euro slide on EU bailout doubts

Nov-04-2011--NEW YORK -- Global stocks and the euro fell on Friday as new doubts about Europe's bailout package and worries over the outcome of a key vote in Greece overshadowed signs of an improving US labor market. Stock sectors most exposed to weakness in European banks and tied to growth, such as industrials, financials, materials and energy, were among the weakest.

"There's too much uncertainty going on.

What Greece has taught us this week is that just when you think things are certain, they're actually not," said Camilla Sutton,

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US Payrolls Rose 80000 in October;

Jobless Rate Fell to 9%

NOV-04-2011-- US employment climbed in October at the slowest pace in four months, illustrating the “frustratingly slow” progress cited by Federal Reserve Chairman Ben S. Bernanke this week.

The crisis in Europe and looming deadline on U.S. budget talks may be prompting companies to hold back on concern failure to reach resolutions will put the global recovery at risk. Fed policy makers project the jobless rate won’t drop under 8 percent until 2013 at the earliest, one reason why Bernanke this week said additional stimulus “remains on the table.”

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Europe Saps US Stocks' Weekly Winning Streak; DJIA Sheds 61

Nov-04-2011--NEW YORK --US stocks capped their first weekly loss since September with a drop on Friday, as Europe's sovereign-debt problems overshadowed a small gain in US employment.

The Dow Jones Industrial Average shed 61.23 points, or 0.51%, to 11983.24, and snapped a streak of five weekly gains by falling 2% for the week. The Standard & Poor's 500-stock index shed 7.92 points, or 0.63%, to 1253.23, ending its own weekly winning streak at four. The technology-oriented Nasdaq Composite lost 11.82 points, or 0.44%, to 2686.15.

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Occupy Protesters Disavow

Oakland Violence?

Nov-04-2011--Occupy Wall Street supporters who staged rallies that shut down the nation's fifth-busiest port during a day of protests condemned on Thursday the demonstrators who clashed with police in the latest flare-up of violence in Oakland, CA.

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