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Kodak files for bankruptcy, No More ‘Kodak’ Moments

Kodak files for bankruptcy, No More ‘Kodak’ Moments

Dominating the world of cameras for around 130 years, George Eastman's company, Kodak has finally put an end to the 'Kodak Moment'. Teetering on the brink of collapse for some time, Eastman Kodak filed for bankruptcy protection Thursday morning. With debts that stand at around $6.8bn and assets, as per filing, around $5.1bn, Kodak faced no other option than file for bankruptcy. The fall of this icon of photography industry is in line with the disappearance of dinosaurs. The way dinosaurs became extinct due to their inability to adapt to the changing environment, similarly the reason for collapse of Kodak is its inability to adapt to the digital revolution.

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Expect a Slow Growth – World bank Warns Developing Nations

Expect a Slow Growth – World bank Warns Developing Nations

World Bank's Global Economic Prospects Report on Tuesday gave a jolt to the nations across the world. This biannual report examines the trends of growth of global economy and their impact on developing nations. In the report for 2012 released on Tuesday, the Bank has lowered the growth forecasts for developing countries to 5.4 percent from 6.2 percent for 2012 indicating a growth slowdown while for high income nations the forecast is around 1.4 percent. Global growth projections for 2012 were also substantially cut to 2.5 percent from the previous estimate of 3.6 percent and it is estimated as 3.1 percent for 2013. The Report came in at the time when economies were expecting that the economic turmoil is receding and there are prospects of revival.

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Triple 'A' Rating of Eurozone Rescue Fund Reduced by a Notch

Triple 'A' Rating of Eurozone Rescue Fund Reduced by a Notch

The spiraling effect of the crisis in Europe is being felt by the economies all ver the world. While the economies were still getting over the impact of recession that was triggered in United States in 2008, the fresh bout of economic turmoil was a harder than expected blow. As the debt crisis situation in Europe worsens with no solution in sight, Standard and Poor's has again hit the headlines, this time for downgrading European Financial Stability Facility (EFSF). US rating agency, S&P, has downgraded the creditworthiness of EFSF by a notch to 'AA+'.

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Towards a Neutral Monetary Policy – RBA Cuts Key Rates by 25 Basis Points

Towards a Neutral Monetary Policy – RBA Cuts Key Rates by 25 Basis Points

The eurozone crisis and the sluggish U.S economy have raised the chances of the economies facing another recession. Countries are gearing up to stay well equipped in the face of storm in these financial turbulent times. Considering the warnings of Europe tipping into recession and the events last week which turned the situation in Europe worse, the Reserve Bank of Australia eased its monetary policy by announcing a cut in the key rates by 25 basis points. At its November board meeting, RBA announced a cut in cash rate by 25 basis points to 4.5%.

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‘Land of Rising Sun’ Shows Signs of Revival –Japanese GDP Rises 1.5%

‘Land of Rising Sun’ Shows Signs of Revival –Japanese GDP Rises 1.5%

World's third biggest economy, Japan posted a growth of 6% in the July-September quarter signaling towards a strong recovery. This is the first growth recorded after the turmoil caused by the tsunami, earthquake that pummeled Japan in March 2011 and the subsequent nuclear crisis. This is the fastest pace of growth of Japanese economy since January 2010 and is much in line with the expectations of the markets. Japan's comeback from the slump is already under clouds as it faces the global headwinds.

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