US facing 'prolonged' economic uncertainty, says former Indian envoy

MUMBAI: Maintaining that there is a "prolonged" economic uncertainty in the US despite billions of dollars pumped in the world's largest economy, a former Ambassador to America today said India was able to come out of the downturn in spite of a much smaller stimulus package.

Moody's: Australia vulnerable to external shocks

SYDNEY--Australia is vulnerable to a global downturn and the government's pledge to return the budget to surplus will be challenged but the Australian dollar will still be partly supported by its emerging "safe haven" status, said Steven Hess, senior credit officer and the chief sovereign analyst for Australia at Moody's Investors Service.