Socialist Prime Minister George Papandreou and conservative leader Antonis Samaras are to hold fresh talks to hammer out the composition of the new 15-week government, Which Will Be tasked with passing the euro130 billion ($ 179 billion) package from the country's international Creditors Before elections.

Former European Central Bank vice president Lucas Papademos IS Being tipped as the Most Likely new head of the government That Would serve a Until Feb.Finance Ministers from the 17 Eurozone Countries are due to Meet Later in Brussels, and Will Be Awaiting an update from Greece's Evangelos Venizelos personal humidifier.

Germany's vice chancellor Philipp Roesler Greece again Warned not to delay in pushing-through reform.

"The Greeks Have Themselves The Choice: Reforms in the eurozone or No Reforms, and out. There Is No Third Way," He Told German daily Bild the popular

Frustrated with Greece's Political protracted disagreement, the country's Creditors Have Threatened to withhold the next critical euro8 billion ($ 11 billion) loan installment Until the new debt deal IS Formally Approved in Greece.

Greece IS Surviving was euro110 billion ($ 150 billion) rescue-loan program from eurozone partners and the International Monetary Fund.

Freddie Mac Said Thursday That it lost $ 6 billion, or $ 1.86 a share, in the July-September quarter. That COMPARED with a loss of $ 4.1 billion, or $ 1.25 a share, in the Same Quarter of 2010.

Freddie's Losses are Increasing Mainly for Two Reasons: Many homeowners are Paying less interest Because They Are Able to refinance at lower mortgage rates. And failing and bankrupt mortgage Insurers Are Not As Much Paying out money When homeowners default.

The government rescued Freddie Mac and Its sister company, Fannie Mae, in September 2008 After extensive Losses on risky mortgages to topple Threatened Them room air conditioners. Since then, a federal regulator controlled HAS Their Financial decisions.

Fannie and Freddie are required to pay 10 percent Dividend on the government money THEY receive. Freddie Paid $ 1.6 Dividend to one billion in the Treasury Department in the July-September quarter.

Continuous pressure on the government to Fannie and Freddie Eliminate and Reduce Taxpayers' exposure to risk. The Treasury Department put forward a plan in February to dissolve Fannie and Freddie Steady, although That process Could take years.

Freddie Mac Loses $ 6 Billion in Third Quarter

Hot News:

"Banks must raise Their level of resistance and Avoid Behavior That Is not in cohesion with the values ​​of our society – Including excessive bonus payments."

He Said Regulatory Bodies Should Ensure Financial Market Served innovations and the real economy Did not damage it.

"At the moment we are working on Correcting this, 'he said.

"There Is An agreement Among all Authorities worldwide That We Have discipline to the markets and in general the Financial System, and to make sure We Have That They Are considerably more resistant Under all Circumstances in the future outdoor fireplaces."

Aim the central banker Warned Against restricting banks too much, Given That Would Have Negative Impact this on the real economy THEY Financed.

Trichet Said Needed to Strengthen ITS Europe Political structures, Which Would require exchange of the constitution.

The Commerce Department said on Wednesday durable goods orders rose 7.1 percent transportation EXCLUDING After falling by a revised 0.4 percent in August.

The rise beat economists' expectations for a 0.4 percent Increase Previously Reported After a 0.1 percent dip.

Aim for a drop in demand for transportation equipment as motor vehicles and bookings Civilian aircraft orders overalls Declined Pulled down 0.8 percent.

That Followed a 0.1 percent dip in August and in line with WAS economists' expectations for a 0.9 percent fall.

"Demand for big ticket items Seems to be alive and well," Said John Ryding, chief economist at RDQ Economics in New York."Outside of the volatile Transport Sector, the gains in durable goods orders Were Broad based and point to a Manufacturing Sector That continued to expand at a solid rate."

US stock index future Held Their gains, while Treasury debt Were Prices for lower. The dollar versus the euro WAS down.

Transportation orders Fell 7.5 percent, the Largest decline since April.

Orders for motor vehicles and parts Fell 2.7 percent, while bookings Civilian aircraft tumbled 25.5 percent.Received only 59 Boeing aircraft orders, According To the plane maker's website, down from 127 in August.

The tenor of the report WAS Further Strengthened by a 2 no fax payday loans.4 percent jump in non-defense capital goods orders EXCLUDING aircraft, a proxy for business Closely Watched Spending.

That Was the Largest Increase Since March and offset a Downward revision to August's Increase.

"The details of the durable goods report Were quite constructive, pointing to building momentum in business capital investment going forward," Millan Mulraine Said, senior macro strategist at TD Securities in New York.

Shipments of non-defense capital goods EXCLUDING aircraft, however, Fell After rising 0.9 percent 3.1 percent in August.

Still, the report more WAS Evidence That Economic Activity Picked Up in the Third Quarter After a weak first half.

USGross Domestic Product Grew at Annual year pace of 5.2 percent in July Through September Period, According To the median of a Reuters poll. That Would mark a sharp step-up from the 1.3 percent logged in the second quarter.

Although manufacturing in recent months HAS Slowed, September durable goods report the Pointed to Underlying resilience.

Details of the report, outside transportation Were Fairly upbeat, with orders for machinery, primary metals, electrical equipment and computers and electronic products rising solidly.

Unfilled orders INcreased 0.8 percent last month and barely Inventories rose, Will Remain Indicating factories busy for a while.

(Reporting by Lucia Mutikani, Editing by Andrea Ricci)

Durable goods demand shows Economic Growth

The automation of more and more work done ounces by Humans Is The central theme of "Race Against the Machine," an e-book To Be Published on Monday.

"Many Workers, in short, are losing the race against the machine," the authors write.

Erik Brynjolfsson, an economist and director of the MIT Center for Digital Business, and Andrew P. McAfee, associate director and principal research scientist at the center, are Two of the nation's Leading experts on technology and productivity. The tone of alarm in Their book IS a departure for the pair, Whose previous research HAS Mainly Focused on the Benefits of Advancing Technology.

Indeed, They Were Originally going to write a book titled, "The Digital Frontier," about the "cornucopia of Innovation That Is going on," Mr. McAfee said. The Employment picture yet have failed to brighten in the Last Two Years, The Two changed course to examine technology's role in the jobless recovery.

The authors are not the only ones to point to Recently the job fallout from technology. In the current issue of the McKinsey Quarterly, W. Brian Arthur, an external professor at the Santa Fe Institute, Warns That IS Quickly Taking Over technology service jobs, FOLLOWING the waves of farm and factory automation of work. "This last repository of jobs shrinking IS – Fewer of us in the Future May Have white-collar business process jobs – and We Have a problem," Mr. Arthur writes.

The MIT authors' claim automation That IS IS NOT shared by Accelerating Some economists. Prominent Among Them are Robert J.Gordon of Northwestern and Tyler Cowen of George Mason University, contend That Who Productivity Improvement Owings to Technological Innovation rose from 1995 to 2004, aims HAS trailed off sincere. Mr. Cowen emphasized That point in an e-book, "The Great Stagnation," published this year.

Technology HAS Always Displaced some work and jobs. Over the years, Many Experts Have Warned – mistakenly – That Were machines Gaining the upper hand. In 1930, the economist John Maynard Keynes Warned of a "new disease" that interest rated ET "Technological Unemployment," the inability of the economy to create new jobs faster Than Were lost jobs to automation.

Goal Mr. McAfee and Mr. Brynjolfsson argues That the pace of automation in recent HAS Picked Up Because Of years of combined technologies Including robotics, numerically controlled machines, Computerized inventory control, voice recognition and online commerce.

Faster, cheaper computers and increasingly clever software, the authors say, are Giving machines capabilities oz That Were Thought To Be Distinctively human, like understanding speech, translating from one language to Another and recognizing patterns fast cash. So automation IS Rapidly Moving Beyond factories to jobs in call centers, marketing and sales – shares of the Services Sector, Which Provides MOST jobs in the economy.

DURING the last recession, the authors write, one in 12 people in sales lost Their jobs, for example. And the downturn Prompted Many business to look harder at substituting technology for people, if possible. Since the end of the recession in June 2009, They note, Corporate Spending on equipment and software by 26 percent HAS INcreased, while payrolls Have Been flat.

Corporations are doing fine.The companies in the Standard & Poor's 500-stock index are Expected to report record profits this year, a total $ 927 billion, Estimates FactSet Research. And the authors point out That corporate profits as a share of the economy iz at a 50-year high.

Productivity growth in the last decade, at 2.5 percent more Than, They observe, is High Than the 1970s, 1980s and 1990s Even the edges out. Still the Economy, They write, Did not add to total job count icts, The First Time That HAS over a decade Happened Since The Depression.

The skills of machines, the authors write, only Will Improve. In 2004, Two Leading economists Frank Levy and Richard J. Murnane, published "The New Division of Labor," which Analyzed the capabilities of computers and human Workers. Truck driving year WAS Cited as example of the kind of work computers Could not handle, and recognizing moving objects Reacting to in real time.

Goal last fall, Google Announced That robot-driven cars ITS HAD Thousands of miles logged on American roads with only occasional assist from human year back-seat drivers. The Google cars, Said Mr. Brynjolfsson, are intended one sign of the times.

As Others Have, ET Pointed to IBM's "Jeopardy"-playing computer, Watson, Which in February beat a pair of human "Jeopardy" champions, and Apple's new software personal assistant, Siri, Which Respond to voice commands.

"This technology can do Things Now That only a FEW years ago Were Thought To Be Beyond the reach of computers," Mr. Brynjolfsson said.

Yet computers, the authors say, tends to narrow and literal Be-minded, good at Assigned tasks aim at a loss When a solution Requires intuition and creativity – human traits. A partnership, They assert, Is the path to job creation in the future.

"In medicine, law, finance, retailing, manufacturing and scientific discovery Even," they write, "the key to winning the race to compete Against IS NOT intended to compete with machines machines."

Economists See More Jobs for Machinery, Not People

EU leaders are Expected to sign off on the new Guidelines for the continent's biggest banks at a summit Sunday, Said the official, spoke on condition of Who anonymity Because The Were still Ongoing discussions.

Strengthening Europe's banks as a key IS SEEN precondition to cutting Greece's massive debt and finally getting a grip on Europe's worsening debt crisis short term personal loans.European Officials want banks to accept more Losses on Their Greek bonds Than the 21 percent THEY HAD Previously Agreed to, and move That Into Would cut banks' reserves.

The new rules force systemically important banks Would to raise capital ratios Their core to 9 percent, with just 5 percent Compared to 6 percent needed to pass EU THEY stress tests this summer.

The ratio Measures the Amount of capital banks hold Compared to Their risky assets.

Official: EU Banks Have To raise $ 140 billion

Thomas de Maizière, the German defense minister, IS Expected to present the program of radical cuts to the government's budget committee on Oct. 26. According To order a confidential document leaked That has-been news to organisms in recent days, the ministry Hopes to Reduce sharply ITS Commitment to purchase a range of flying hardware, Including A400M transporters, fighter Eurofighter Typhoon jets, as well as NH-90 transport and Tiger attack helicopters.

"This is Another sad chapter in the saga of shrinking budgets European – with major industrial and Political Implications," Said Alexandra Ashbourne, an aerospace consultant and Defense Industry in London. "This is going to Be very difficulty for the Industry to absorbed, on the one hand, while on the Other Will you see the British, the genetics and everyone else again ounces Questioning Germany's Commitment to European defense."

Less than Two Years After European Governments Agreed to a complex rescue program for the long-delayed A400M, Germany – the Largest customer for the four-engine turboprop plane – now wants to buy 40 INSTEAD OF 53 of the airlifters, According To a report published Wednesday in the Financial Times. That Would Bringing Germany's Commitment to the A400M below That of France, Which HAS Ordered 50.Originally Agreed Germany HAD to buy 60 A400M in 2003, aim That WAS Reduced order in 2009 as Part of Negotiated arduously bailout That year saw seven NATO government agreements to a hefty price Increase Provide Additional year € 1.5 billion in financing to EADS, Whose full name IS European Aeronautic Defense & Space.

German media reports According To, Berlin aussi ITS AIMS to Reduce order for Typhoon fighters to 140 INSTEAD OF 177, while it AIMS to take delivery of 80 122 INSTEAD OF NH-90 helicopters, and only 40 Tigers – half year of original order for 80 business card design.

An EADS Spokesman Declined to how Mr. De Maizière Before Presents Proposals history next week, while German Defense Ministry Officials Did not return calls Immediately.

The A400M IS built by the military division of Airbus, while the IS Typhoon made by a multinational consortium That includes EADS, BAE Systems of Britain and Finmeccanica of Italy.The Tiger and NH-90 are products of EADS's Eurocopter division.

The cuts are from procurement of a German effort to streamline Broader icts defense bureaucracy, Dramatically Reducing the size of active-duty forces icts around 185.000 to 220.000 and from abolishing compulsory military service, Which ended this year.

Analysts purpose Noted That Could Canceling the orders INVOLVE Costly penalty payments for Berlin UNLESS IT manager to find alternative buyers for the equipment it wants no skirt. If Those buyers end up outside Europe, They added, That Would eat Into the company's future export sales – Considered vital to recouping Research and Development Costs.

The A400M, for example, yet to gain traction HAS outside Europe, with just one foreign customer, Malaysia, with a contract for flat oven. South Africa year Canceled order for eight planes in 2009, though still Both Sides are in discussions about Possibly Reviving That deal at a Later date.

EADS HAS Already Written Down More than € 2.4 billion, or $ 3.3 billion, in cost overruns for the A400M, the first of Which are due to Be Delivered in 2014.

Germany Said to Cancel Billions in Military Plane Orders

GDP Grew 9.1 percent from a year Earlier, The Third consecutive quarterly growth in Slowdown After 9.5 percent in the second quarter and 9.7 percent in the first.

Purpose Other figures on Tuesday the domestic economy Suggested WAS Growing Healthily. Fixed-asset investment, the main driver of growth in world's second-biggest economy, and retail sales Were Stronger than expected.

That domestic strength and inflation of 6 percent More than argues for the central bank to keep a tight Monetary Policy on Kidney Even though overalls IS Slowing growth.

"GDP growth for the market WAS surprising on the downside," Said Stephen Green, economist at Standard Chartered in Hong Kong."There is Clear deceleration in the Third Quarter. No change in policy. Small signs of loosening purpose ad-hoc no change in macro policy."

Asia stocks eased Some Commodity Prices Fell and the after the growth data, Which WAS Slightly below forecasts of 9.2 percent and 8.1 percent The Weakest Since in the second quarter of 2009.

Most Analysts Said the data to An Economic Pointed soft landing, Rather Than a crash. But The Economy Would Be at risk of a more severe downturn if the euro-zone debt crisis and the economy lead to US Another global recession.

At the weekend, the G20 group of nations urged Leading Euro-zone leaders to resolve the debt crisis, Which THEY SAID WAS Endangering the World Economy.

As indicator of global demand year, exports from China Actually detracted from the economy's growth in the first Three quarters of this year.That Was Showing Underlined data by September exports to the euro zone growth, STI biggest market, More than halved from August.

Still, China has "plenty of firepower to live at if Necessary Supporting growth, making a hard landing still An Unlikely outcome," Said George Worthington, chief economist for the Asia Pacific at IFR Markets, a Thomson Reuters unit.

Countering the impact of the Global Slowdown, fixed-asset investment in the first Three quarters of the year chalked up annual growth of 24.9 percent, Slightly ahead of forecasts of 24.8 percent.

Retail sales rose 17.7 percent in September from a year Earlier, topping forecasts for a rise of 17.0 percent.

Indeed, industrial output in September rose 13.8 percent, Above forecasts for year Increase of 13.3 percent, Suggesting the Third Quarter ended on a upbeat note Slightly.

However, China's real estate investment, Which accounts for a fifth of the country's fixed-asset investment, cooled sharply to 25.0 percent in September from a year Earlier, as Compared with a rise of 31.6 percent in August, Reuters calculations show, based on the official data.

"Although HAS Economic Growth Slightly moderated, it's still stable," Sheng Laiyun, Spokesman at the National Bureau of Statistics, Told reporters the after the data release, dismissing the risk of a sharp deterioration in the economy.

"It is more Likely That China Will keep icts Relatively stable and fast in the Economic Growth next phase," He Said When Asked about the Possibility of a dip in growth personal loans for bad credit.

RISKS AS INVESTORS EYE GROWTH EASES

Investors Were A little less blood in Their initial reaction. Hong Kong's benchmark Hang Seng Index (. HSI) extended early decline, dropping by as Much as 3.7 percent.

Shares in Australian miners That Fell on the prospect for China's demand growth easing IS minerals. Rio Tinto (RIO.AX) Fell 5.3 percent and BHP Billiton (BHP.AX) Dropped 3.3 percent.

The Slowdown weighed on sentiment in the oil and copper Markets. Reuters calculations implied oil demand Suggest in China rose just 1 percent in September from a year Earlier, ITS slowest rate of growth so far this year.

China's Statistics Bureau Said the economy WAS Facing Increasing Uncertainty at Home and Abroad and it Called for the maintenance of stable Economic policies.

Slower activity Could Help Some Of That stabilization process as it Implies Some softening of price inflation-wary Pressures for Officials in Beijing.

China's inflation, albeit easing, ran at year Annual pace of 01.06 percent in September, Within earshot of near three-year highs of 6.5 percent in July and well over Beijing's official 2011 target of 4 percent.

To combat rising Prices and Prevent Them From Stokinger social unrest, Beijing raised interest rates five times and banks' reserve Requirements nine times in the past year.

CONTROLLING INFLATION

Measures to curb inflation Have Had a noticeable effect and price Pressures Should Further ease in the Fourth Quarter of the year, the Statistics Bureau said.

Housing inflation eased to the Lowest level in September this year as Beijing's tightening measures, Including rationed bank credit and rising mortgage rates, Began to bite.

The Darkening World Economic Outlook HAS Beijing Forced to stand pat on July sincere policy. It HAS Shown Some concern about the economy, Announcing Measures to Support Small Firms and intervening in the stock market to prop up bank shares.

Some Analysts expect Authorities to loosen policy to support growth to shade if Need be. Theys May opt to ease credit controls or Even cut banks' reserve from record highs Requirements.

"China overtightened HAS ITS policy sincere May. That HAS INcreased the Risks of a hard landing, as Global Economic Growth Slowed sincere Also the second quarter," Said Dong Xian'an, chief economist at Peking First Advisory.

"That risk of sharp Economic Slowdown in China still exists. We expect Chinese Economic Growth to slow down to around 8.6 percent in the fourth quarter," Dong added.

Brazil, Indonesia and Singapore eased policy Have all Because Of Concerns about the global economy. China aims Believe FEW IS set to cut rates anytime soon Given stubborn price pressures.

"I do not think THEY Will Make Any move (in rats) in the near term. Then maybe After A Few quarters, Toward the middle of next year, if everything is OK, I think THEY Will continue to hike interest rates, not cut interest rates, "Said Ting Lu, economist at Bank of America-Merrill Lynch in Hong Kong.

(Editing by Ken Wills and Neil Fullick)

China Q3 growth at two-year low, rate cut no purpose Seen

Wolfgang Schaeuble German public broadcaster ARD Told on Sunday That year agreement in July When Struck banks and Other investors Agreed to renounce it 20 percent of Their Must Be Greek debt renegotiated.

He says the Private Sector's contribution to a reduction of Greece's debt burden "will Probably Have To Be Higher payday loan lenders."

The Institute of International Finance, a global bank lobbying group, says managing director Charles Dallara icts Is in Talks with Officials from the 17-nation eurozone about the July agreement.Spokesman Frank Vogl Declined to Elaborate, the group's leadership purpose HAS Accepting Rejected So Far bigger losses.

Germany: Banks to take bigger Losses on Greek debt