From WORLD 6:50pm

Obama warns of lengthy fiscal crisis

US President Barack Obama speaks to the media about sequestration in the Brady Press Briefing Room at the White House in Washington on March 1, 2013 following a meeting with US Speaker of the House John Boehner and Congressional leaders. Obama summoned congressional leaders but the talks were more for the sake of appearances rather than a deadline day bid to avert a damaging $85 billion in arbitrary budget cuts. Obama was bound by law to initiate the automatic, indiscriminate cuts, which could wound the already fragile economy, cost a million jobs and harm military readiness, in the absence of an deficit-cutting agreement. AFP PHOTO / Saul LOEBSAUL LOEB/AFP/Getty Images ©AFP

President signs the directive to put cuts into effect

From US ECONOMY Mar 1, 2013

Fiscal emergency declared in Detroit

Step closer to largest municipal bankruptcy in US history

From US ECONOMY 5:44am

Bernanke warns against raising rates early

Fed chief says ‘high risk of short-circuiting the recovery’

From COMPANIES 9:55pm

Boost for Keystone XL pipeline plan

Impact study finds it would have only marginal effect on emissions

Cospokes person of the European Green Party Philippe Lamberts speaks during an election rally of the Greek ecologists green party ahead of the May 6 parliamentary elections in Thessaloniki on May 4, 2012. mpaigning ended in Greece Friday for an election that could determine the country's place in the eurozone and the future of a debt crisis that has swept across Europe. ©AFP From WORLD 6:35pm

The man who capped the banks

Belgian Green MEP took on financiers over bonuses and won

CHINESE ECONOMY Mar 1, 2013

China’s manufacturing growth slows

Official purchasing managers’ index dips to 50.1 in February

Temporary tents provided for devotees during the Kumbh Mela festival in Allahabad ©Getty From WORLD Mar 1, 2013

Pop-up megacity is a lesson for India

Kumbh Mela’s efficient infrastructure should be possible elsewhere

From MARKETS 7:12pm

Brazil job market belies GDP problems

Sluggish fourth-quarter economic output misses estimates

MARCH 1 DATA

Country Data Estimate Actual
Eurozone PMI (Markit), final 47.9
China PMI 50.5 50.1
PMI (HSBC) 50.6 50.4
Germany Retail sales, MoM 0.9% 3.1%
Eurozone Unemployment 11.9%
l
US Personal spending 0.2% 0.2%
U Michigan confidence 76.3 77.6
ISM manufacturing 54.2
Personal income -3.6%

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