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Eurozone Debt Crisis Deepens Sending Euro Lower and Gold to New Record at EUR 1,080/oz
The euro, global equities and bonds in peripheral Eurozone countries are all lower this morning on heightened concerns about the debt crisis in the Eurozone. The euro has fallen against all currencies and is now at a record low against gold at EUR 1,080.21/oz.

Read more on GoldSeek.com

Short sellers pressure bank shares
Shares in Australia’s big banks have come under heavy selling pressure from short-sellers.

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Cable warns of ‘painful’ squeeze
Vince Cable has warned that the political class has not yet prepared the public for the scale of the underlying problems facing the UK economy and the coming squeeze on living standards.

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The Land of Rising Prices and Stagnant Incomes
…Cathedral’s going by to the right, so that means they are, what? two blocks away from the Bund. A Yangtze River Patrol gunboat is tied up there, waiting for the stuff they’ve got in the back of this truck. The only real problem is that those particular two blocks are inhabited by about five million Chinese people.

Read more on The Daily Reckoning

Africa: ‘Game Changer’ For Aids Research
A new randomized study of AIDS treatment as prevention, beginning early treatment of infected heterosexual people who are living in partnership with an uninfected person, has shown a 96% reduction in risk of infection. …

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Outlook for spending ‘bleak’ and road to recovery is long, Ernst & Young ITEM Club warns
High street bosses have spoken for months about a “slow yet steady” recovery in the consumer economy.

Read more on AFP Telegraph Finance News via Yahoo! UK & Ireland Finance

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Eastday-Citi’s Q1 income slumps 32%
CITIGROUP’S first-quarter income fell 32 percent on lower revenue from investment banking and a decline in consumer loans. The bank was able to set aside fewer reserves for losses as more borrowers were able to keep up with their debt payments.

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Citigroup’s first-quarter profit falls
Citigroup says first-quarter profit fell, but problems with bad loans eased and consumer banking in Latin America grew.

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Wall Street sinks after S&P warns on U.S. debt
A warning from Standard & Poor’s that the agency might lower its rating on U.S. government debt sent stocks on their steepest slide in a month Monday.

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India CapitalGrwthFd – Annual Financial Report
India CapitalGrwthFd – Annual Financial Report

Read more on AFX CNF Finance Regulatory News via Yahoo! UK & Ireland Finance

eft.com
BIFA director general Peter Quantrill pointed out that the one pence per litre cut in fuel duty on petrol and diesel has not been cancelled, just postponed until 2012.

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OBR warns on effect of inflation and rising oil price
Inflation and oil prices remain the biggest risks to Britain’s economic recovery, the Office for Budget Responsibility has warned.

Read more on AFP Telegraph Finance News via Yahoo! UK & Ireland Finance

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Police and Fire Report
GOOD SAMARITAN VICTIMIZED: A Battle Creek man, 34, was arrested on a charge of larceny after Battle Creek police alleged he stole the purse of a woman who gave him a ride home. The victim, 54, told police she was at a gas station on Bedford Road about 1:15 a.m. Wednesday and said the man was bothering the owner and customers. She offered to give him a ride home and dropped him off at the Bedford …

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Study: Asheville metro area ranks 6th in credit card debt
ASHEVILLE — The Asheville metro area ranks among the nation’s worst when it comes to piling up credit card debt, according to a new study.

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HMRC warns (again) over tax refund phishing scams
Marks still sending their account info to email fraudsters UK taxpayers were officially warned on Friday to have nothing to do with supposed tax refund emails that have begun circulating since the deadline for self-assessment tax returns expired on Monday.…

Read more on The Register

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Former real estate giant Monument Realty is working on a comeback
One of the headline examples of Washington’s real estate bust is back in the market, acquiring new properties and shrinking its relationship to longtime partner Lehman Brothers.

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Oregon Treasurer Tries To Stimulate Bank Lending
Oregon Treasurer Ted Wheeler says he wants banks who do business with the state to make more loans to consumers and companies.

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JP Morgan boss warns of debt risk
Forcing eurozone countries to restructure their debt would be “far too risky”, the head of US bank JP Morgan Chase warns.

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Cheer up! Blue Monday is coming
SMALL PRINT:SIX years ago, a PR company paid Welsh psychologist Cliff Arnall to come up with an equation to calculate the most depressing day of the year – and he came to the conclusion that today’s the day.

Read more on The Irish Times

Limerick shoplifting outbreak draws police scrutiny
LIMERICK — With the Philadelphia Premium Outlets attracting criminals who are looking to make a buck, the Limerick Township Police Department is exploring and enacting different tactics to stay ahead of criminals before they set foot at the mall.

Read more on Daily Local News

Sheriff Warns About Phony Car Crash Scam
A ruse designed to get you to send money to a relative in need actually pads the pockets of scam artists.

Read more on WITN 7 North Carolina

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Mad at card issuers? Don’t take it out on your own credit
Think twice before closing little-used credit card accounts because you’re mad at the issuer. It could backfire by damaging your credit score

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Store clerk arrested on suspicion of credit card abuse
Police arrested a convenience store clerk for allegedly overcharging a woman on a credit-card purchase, one of numerous complaints against him.

Read more on El Paso Times

Business Owner Warns of Credit Scam
The owner of Dragon Man’s Shooting Range said their business lost out hundreds of dollars thanks to a fake credit card, which to a small business could be a lot of money.

Read more on KKTV 11 Colorado Springs

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Bredesen Announces New Finance Commissioner
Gov. Phil Bredesen has appointed Mike Morrow as the new Finance and Administration commissioner.

Read more on News Channel 5 Nashville

Cash-strapped firms opting for invoice finance
An invoice finance firm has said it has seen a “surge in demand” for its finance products. Related Stories Specialist wine firm celebrates winning top award Creamery awarded Sainbury’s contract Ulster Rally helped drive £2m into local economy Get set for 20% VAT rate on January sales figures Sharing the knowledge and the rewards

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Portugal at Risk of Needing Bailout, Finance Minister Warns: Report
Portugal’s finance minister warned Monday that the country is at high risk of needing to turn to the international community for an emergency bailout amid fears that the eurozone debt crisis will spread, according to the Financial Times.

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(AFX UK Focus) 2010-03-07 01:04 WRAPUP 3-Icelanders reject deal to repay British and Dutch
By Wojciech Moskwa

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(AFX UK Focus) 2010-03-05 17:16 Obama says Feb jobless figures better than expected
ARLINGTON, Va, March 5 (Reuters) – U.S. President Barack Obama said on Friday better-than-expected February jobless figures showed measures his administration took to boost the economy were working, but he said unemployment was still too high. “This morning we learned that in February our economy lost an additional 36,000 jobs. Now this is actually better than expected considering the severe …

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UK economy would crumble under Labour, warns Ken Clarke
Britain’s economy would be at the “mercy of the bondmarkets” if Labour wins the election, Kenneth Clarke has warned.

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