Saturday, March 05, 2011

GGN- Economic News :: January 16, 2011 Part 3/3

PLEASE SUBSCRIBE!!! * Please visit our website: www.ggnonline.com for more news commentary. * Please donate to GGN www.paypal.com because it would be greatly appreciated. Thank you. (Telegraph) The housing market has stalled, figures show, as lenders warn that lending criteria will remain tight for borrowers. - (WSJ) Home-mortgage rates declined for a second straight week, according to data released Thursday by Freddie Mac. - (WSJ) Co-op and condo owners will pay sharply higher property taxes next year, under a preliminary assessment roll released Friday by the Bloomberg administration. - (CBS) Gov. Jerry Brown proposed a budget Monday that would slash funding to most areas of state government and maintain a series of tax increases for five years to close California's huge budget deficit. - (AP) Illinois Gov. Pat Quinn defended a massive increase in state income taxes passed by lawmakers Wednesday and promised to quickly sign the measure to help heal the state's ailing finances. - (Bloomberg) Switzerland's central bank said it may have posted a record loss in 2010 as the euro's slump eroded the value of its currency reserves. - (Telegraph) The costs of raw materials at British factories rose at the fastest rate in eight months in December, posing a headache for policymakers tasked with keeping inflation under control. - (People's Daily) The Bank of England announced Thursday that it has kept the short-term interest rate at a record low 0.5 percent and maintained the size <b>...</b>
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