Management bibles are not gospel

(Reuters) - That is the conclusion of Phil Rosenzweig, a professor at the IMD business school in Lausanne, Switzerland, in his book "The Halo Effect ... and Eight Other Business Delusions That Deceive Managers" .




"Some of the biggest business blockbusters of recent years contain not one or two, but several delusions. They operate mainly at the level of storytelling," he writes.


Read more at Reuters.com Business News

Treasury Yields Touch Five-Year High as Global Growth Outlook Increases

(Bloomberg) -- Yields on benchmark 10-year U.S.
Treasury notes touched a five-year high on concern faster global
economic growth will hurt demand for fixed-rate investments.

Ten-year note yields, which determine interest rates on
mortgages and corporate bonds, touched 5.25 percent yesterday,
matching the highest since May 2002. Short-maturity yields
climbed less as the consensus forecast for Federal Reserve
policy this year shifted from an interest-rate cut to no change.


Read more at Bloomberg Bonds News

G8 powers face up to changing economic balance

(Reuters) - Some thirty years on, the G8 group of industrialised economic powers acknowledged in essence on Friday that the world is no longer one they can shape without consulting the likes of China.

Launching what they called the Heiligendamm Process, leaders of the G8 club said they wanted to establish a permanent system of policy consultation with some of the new or coming big hitters of the global economy, such as China, India and Brazil.


Read more at Reuters Africa

U.K. Pound Declines Against the Dollar on Interest Rates, Slide in Bonds

(Bloomberg) -- The pound fell versus the dollar for a
second week after the Bank of England kept interest rates
unchanged at its monthly meeting two days ago.

The pound fell as a global sell-off in bonds helped the
dollar rise against 14 of the 16 most-traded currencies. It
slumped the most in three months versus its U.S. counterpart two
days ago after the Monetary Policy Committee, led by Governor
Mervyn King, kept the Bank Rate at 5.5 percent, as predicted by
58 of 62 economists in a Bloomberg News survey.


Read more at Bloomberg Currencies News