AP - Retail sales posted a surprising increase in February as consumers did not let major snowstorms stop them from storming the malls. The advance, the biggest since November, provided hope that the recovery from the Great Recession is gaining momentum.
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Reuters - Switzerland’s UBS has warned parliamentarians failure to back a deal to end its bitter U.S. tax row with the bank could result in a damaging backlash for Swiss banks as well as the Alpine nation’s economy. Read Original Post Here
Reuters - President Barack Obama plans to nominate San Francisco Federal Reserve Bank President Janet Yellen, a respected policy dove, to be vice chairman of the central bank, a source familiar with the process said on Thursday.
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AP - Retail sales post surprising 0.3 pct February increase raising hopes economy gaining momentum. Read Original Post Here
Reuters - Sales at U.S. retailers rose unexpectedly in February despite a drop in vehicle purchases and inclement weather that was expected to curtail shopping, bolstering hopes of a sustainable economic recovery.
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AP - Canada’s unemployment rate has slipped to 8.2 percent as the economy gained 21,000 jobs. Read Original Post Here
AP - Industrial production in the 16 countries that use the euro spiked by an impressive 1.7 percent in January from the month before, official figures showed Friday, raising hopes that the recovery from recession may be more buoyant than expected. Read Original Post Here
AFP - Europe’s main stock markets rose Friday as investors awaited crucial economic data and tracked US attempts to rein in the banking sector, dealers said.
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AFP - The dollar traded mixed on Friday before the publication of official US economic data, while the yen was also in focus after Japan’s leader called for “firm steps” against the currency’s recent rise.
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AP - President Barack Obama intends to nominate Janet Yellen, the president of the Federal Reserve Bank of San Francisco, to take over as vice chairman of the Federal Reserve, a person familiar with the selection said Friday.
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