News Headlines - 02 November 2011

▽Japanese TV manufacturers admit defeat - Financial Times
Two of Japan’s best-known television makers raised white flags of defeat this week in their battle with Taiwanese and South Korean rivals.
Sony and Panasonic, whose TVs dominated the world’s living rooms for much of the analogue era, are shrinking their operations dramatically in an acknowledgment that they have failed to compete in the age of digital flatscreens.

▽Japan Faces $510 Billion Losses From Yen Sales, JPMorgan Says - Bloomberg
Japan's government faces almost 40 trillion yen ($512 billion) in losses from intervening in the foreign-exchange markets to stem the yen's advance, according to estimates by JPMorgan Chase & Co.

▽Fed lowers economic forecast to take into account significant slowdown in growth - CNN
The central bank’s latest forecast released Wednesday predicts that the economy will grow just 1.6 percent to 1.7 percent for all of 2011. For 2012, growth will range between 2.5 percent and 2.9 percent. Both forecasts are roughly a full percentage point lower than the Fed’s projections from June.

▽Israel, Palestinians anger US with moves that hurt peace efforts but no consequences in sight - Washington Post
The Obama administration on Wednesday sharply criticized Israel’s decision to accelerate settlement construction in east Jerusalem and the West Bank in retaliation for the Palestinians winning membership from the United Nation’s cultural organization.

▽WikiLeaks founder Assange to be extradited to Sweden to face rape claims - Washington Post
Julian Assange, founder of the anti- secrecy website WikiLeaks, lost a U.K. appeal to stop his extradition to Sweden to face rape claims almost 11 months after he was arrested in London.







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