Business – 19 July 2013

Detroit bankruptcy could hit millions of retirees

Written by John W. Schoen, Published on CNBC

With its bankruptcy filing, the city of Detroit has entered uncharted territory. It’s a dark place that no major U.S. city has ever gone—but that could change.

China Removes Floor on Lending Rates as Economy Cools

Written by Paul Panckhurst, Published on Bloomberg

China will remove the floor on lending rates offered by the nation’s financial institutions as economic growth slows and authorities push forward with measures giving its banks more freedom to set borrowing costs.

Ohio’s Unemployment Numbers Released

Published on Fox 28

Officials say Ohio’s unemployment rate rose to 7.2 percent in June with a loss of 12,500 jobs, the second largest of any state that month.

Stock futures mixed after tech sector results disappoint

Written by Leah Schnurr, Published on Reuters

Stock index futures were mixed on Friday, after the Dow and S&P 500 closed at record highs a day earlier, in the wake of disappointing results from tech giants Microsoft and Google.

RBI may reverse tight liquidity stance after rupee stabilises

Published on The Economic Times

RBI may consider reversing its recent hike in short-term interest rates after it succeeds in stablising the rupee against the US dollar, Prime Minister Manmohan Singh said today.

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