GREECE: ‘ EUROGROUP ANNOUNCES FOUR-MONTH EXTENSION TO BAIL-OUT ‘

#AceFinanceNews – GREECE:Feb.24: Eurogroup announces agreement to four-month extension to bailout.

The reforms, which include tackling tax evasion, corruption and smuggling, were delivered on the cusp of Monday night’s deadline.

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WASHINGTON: ‘ YELLEN TO COME UNDER SCRUTINY OF LAWMAKERS OVER FED’S INTEREST TIMING ‘

#AceFinanceNews – WASHINGTON:Feb.24: Federal Reserve Chair Janet Yellen is expected to face pointed questions this week from U.S. lawmakers aimed at revealing details about the Fed’s timing on interest rate hikes, as well as fresh scrutiny about transparency at the central bank.

Yellen will likely give away little in her prepared testimony for the Senate Banking Committee on Tuesday, and the House Financial Services Committee on Wednesday. But her answers to lawmakers’ questions will be parsed for insight into the her thinking about issues like persistently weak inflation, stagnant wage growth and whether she still feels the nation’s falling unemployment rate disguises lingering ills in the labor market Reuters reported.

Yellen’s appearance before the Senate will be a key test of her ability to navigate the new Republican-controlled Congress while steering the Fed to a historic change in policy expected later this year.

Source:

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GREECE: ‘ DEUTSCHE BANK REPORT HIGHLIGHTS FOUR CHALLENGES OVER NEW AGREEMENT ‘

#AceFinanceNews – GREECE:Feb.24: In a new Deutsche Bank report on Greece, one infographic perfectly captures the tortuous road ahead in order to avoid a Greek exit from the eurozone, or Grexit BI Finance reported.

To begin with, the four-month bailout extension that was agreed to on Friday, could still fall apart if Athens’ promised list of reforms — which we still haven’t seen — is not accepted by Europe’s finance ministers, known as the Eurogroup.

The snapshot of the chart below outlines the four other challenges before a new agreement is made.

Infograph Here:

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BRITAIN: ‘ LOW PAY COMMISSION RECOMMENDS 3% INCREASE IN NATIONAL MINIMUM WAGE TO £6.70 BY OCTOBER 2015 ‘

#AceFinanceNews – BRITAIN:Feb.24: The Low Pay Commission (LPC) has today recommended to the Government that the adult rate of the National Minimum Wage, which applies to workers aged 21 and over, should rise by 3 per cent to £6.70 from October 2015.

The LPC’s aim is to advise on a rate that protects as many low-paid workers as possible without damaging jobs or the economy. We have carefully weighed the risk of doing too little to raise the earnings of the lowest paid against the risk of recommending more than business and the economy can afford.

With inflation now forecast at 0.5 per cent, this recommendation (PDF, 89.3KB, 3 pages) would, if accepted by the Government:

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