It's time for the complaining analysts to shut up

All those analysts who have complained for years that the Federal Reserve can't really be trusted because it hasn't set an explicit inflation target are going to have to shut up.

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Business International

Fed casts shadow on growth prospects

Federal Reserve policymakers lowered their growth forecast in October and worried about credit-market losses, even as they described the interest-rate cut as a "close call".

Building permits at lowest since '93

Homebuilding permits in the US slumped in October to their lowest level since 1993 and construction of single-family homes tumbled, indicating the industry has yet to reach bottom.

Proton drops on end of VW, GM talks

Proton Holdings Bhd, Malaysia's state-owned carmaker, plunged to a seven-year low in Kuala Lumpur trading yesterday after the government ended alliance talks with Volkswagen AG and General Motors Corp.

Spending slowdown could stymie Cisco earnings

For Cisco Systems Inc, the trouble may just be starting.

IN BRIEF (Page 16)

Business International

SABMiller to buy Grolsch for $1.2b

SABMiller Plc, the world's third- largest brewer, agreed to buy Royal Grolsch NV for 816 million euros ($1.2 billion), gaining a 392-year-old Dutch beer brand to sell in Latin America and South Africa.

Bayer unveils strategy to fight climate change

German chemical giant Bayer is living up to its commitment to a cleaner, greener environment by launching a drive to further cut its carbon dioxide (CO2) emissions.

UBS faces 'major' CDO losses

UBS AG, Europe's largest bank by assets, may have lost as much as $9 billion on collateralized debt obligations, according to CreditSights Inc.