Russia's Lending

Russia's central bank annouced that they would be reducing their refinancing rates by a quarter of a point from 11% to 10.75%. They would also reduce their repurchase rate on bank loans to 9.75% from 10%. The government is currently attempting to encourage lending and consumer spending without increasing inflation after the annual inflation rate rose to 12% in July.

BRIC Nations Gain and American Debt

The emerging BRIC Nations are continuing to build up steam as they further prove their future economic dominance. Their reserves now make up 43% of the world's total. It is estimated that these countries will expand 1.3% this year and 4.5% next year. Meanwhile the States continue to pile on debt. The country's debt currently makes up 79% of their GDP. California is currently dealing with upwards of $60 billion worth of debt, that they are slowly selling off in the form of IOUs.

Italian Economy Continues to Contract

While many of the world's economies are showing signs of improvement the Italian economy is continuing its downward spiral. Although the economy is not contracting as much as it has been recently this is the 5th straight quarter in which there has been no improvement for the Italians and unemployment is at a 4 year high. During this recession there has been little want for Italian goods and exports and the country's stimulus plans appear to be failing.

Chinese Government to Closely Monitor Lending

In the hope of preventing an increase in credit risk and the development of new asset bubbles China is studying stock-market variabilities and carefully monitoring the lending industry. The country has a number of ways to control the flow of money and is therefore able to manipulate various stock trends.

National Express Puts Up Deadline

England's National Express railroad franchise has set up a date by which an offer has to be on the table to sell. The company has decided that all offers must be in place by September 11. Currently there are two bidders looking to buy.

20% Decrease in M&A Activity This Year

Since this time last year M&A activity has decreased by approximately 20% and these deals are worth a lot less that they were. The total value of trades is down 38% from 1.3 trillion last year.

North Pacific Group Selling

The North Pacific Group has just signed a letter of intent to sell it's stocks to a private equity firm that has to this point remained unnamed.

Financial Crisis Takes Toll on India's Religious

Most of us don't stop to think twice about Christianity in India, but with the current financial crisis and the toll it has taken on Western religion, India's Christian population has suffered. The struggling religion has seen a major decrease in mass outsourcing as well as a decrease in funding and revenues. Considering the Christian faith in India is relatively small this could have a severe impact on the ability for the church to continue there.

Arkema to Buy Dow Subsidiary

Arkema announced that it was to purchase an acrylic acid and esters plant from Dow Chemicals for $50 million.

China's Job Crisis

When we think about the instability in the job market many of us recognize the problems facing the United States and Europe, seldom do we think of China as having a similar issue. China and several other Asian countries are supposed to be the solution, picking us up out of the financial crisis. However, China is dealing with its own unemployment crisis. With the decreased demand of Chinese exports many companies are downsizing. Although the Chinese unemployment rate of 4.3% is well below that of the United States and the EU, the rate is still severe for the nation.