Budget cut agreement failure hits US economic outlook

Note: This section contains information in English only.
Source: Marketwatch
© Scanpix/AFP

On Monday Republicans and Democrats announced they did not manage to approve the proposal of budget cuts in order to reduce national deficit by $1.2 trillion in next 10 years. The failure reflects US inability to put his financial system in order. US gridlock come in inappropriate time amid Europe's struggle to end debt crisis. Additionally deadlock implies uncertainty whether officials will support payroll tax reductions or enlargement of unemployment allowances to stimulate US economy.

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Tue, 22 Nov 2011 13:52:04 GMT

LDK Solar experiences loss

LDK Solar Co., the Xinyu City, China, producer of solar energy products reports about loss in Q3 caused by decline in sales by 30%.The loss is estimated as $114.5 million compared to net profit of $93.4 million in the same period in 2010. The demand was lower than anticipated, said Xiaofeng Peng, Chief Executive. The total sales for the year projected by the company

Tue, 22 Nov 2011 13:53:45 GMT

Hungarian forint streaming towards record low against euro

On Monday the Hungarian national currency fell again versus 17 nation currency and is moving towards record low (317.72 forint per euro) on growing anxiety that the country also will call for a bailout from International Monetary Fund. Euro appreciated against forint extra 0.7% on Monday reaching a 10% increase on a yearly basis. 

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