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Business activity in BRICs shrinks for first time in 4 years

The HSBC Emerging Markets Index (EMI), a monthly indicator derived from purchasing managers surveys (PMI), fell to a low of 49.4 in July, down from 50.6 in June. This marks the first time the reading below the 50 level, which separates growth from contraction, since April 2009. Added to that, Brazil, Russia, India and China (BRICs) all saw the first broad-based contraction in factory output in over four years.

Global economy: Central bankers gone wild

BOSTON — Central bankers rarely do radical, or even surprising, things. This week it happened twice. Hold on to your pinstripes. 

Iraq’s oil could reshape global energy landscape

  NEW YORK --- In a major new study published last week, the International Energy Agency reconfirmed what Washington has long suspected: Iraq has the potential to reshape the global energy landscape in the years ahead, thanks to its huge untapped oil reserves.  But whether Baghdad can capitalize on this opportunity is far from clear. The stakes are high—both for the global economy and the country’s future.

David Rosenberg explains what's behind the global rally

European stocks are on their way to an 11th straight week of gains, the peripheral bond markets in Europe are showing signs of stabilization.

Israel enacts economic austerity measures

JERUSALEM — Pressures on the sturdy Israeli economy came to a head this week, and in response, the government announced an array of immediate austerity measures.

IMF cuts global growth forecast

Merde! The International Monetary Fund warns of more trouble ahead. Thanks, Europe.
Dark clouds returnEnlarge
Here comes the darkness. Again. (Mario Tama/AFP/Getty Images)
When it comes to the global economy we're all connected. That's the underlying message from the International Monetary Fund today, which said ongoing trouble in Europe will lead to lower economic growth in emerging market stars like China, India and Brazil. And, yes, for the rest of the world, too.
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This is what will happen to the global economy for the next three years

Citi recently published its 80-page Global Economic Outlook and Strategy report, which provides up-to-date commentary and forecasts for the major economies covered by the bank's army of economists.

Moody's expected to downgrade major banks

Mike Mayo believes Moody's will announce major downgrades for some of the world's biggest banks today.

Brics nations to boost contributions to IMF

China, the second-biggest economy in the world, has said it will contribute $43 billion to the fund, while both India and Russia have pledged to boost their contributions by $10 billion each.

The incredible shrinking president: 3 things to watch on the economy

BOSTON — The link between economics and politics is strong in any election year. But it's even more pronounced right now with the US economy sputtering again and much of the rest of the world looking shaky, too. So as we careen towards November's election, here are the three biggest economic factors to watch.
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