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The threat of deflation in the eurozone remains a global concern, with fears that a huge bond-buying spree by the European Central Bank came too late to fight off the negative effects of falling prices. "In fact, it may not be long before the markets start seriously questioning whether the ECB will continue to fully enact its Quantitative Easing programme all the way through to September 2016," he said. "The latest data on eurozone inflation and unemployment do little to diminish the danger of a prolonged period of deflation in the currency union," said Jonathan Loynes, chief economist at Capital Economics. In January, the ECB set out its huge bond-buying programme, an audacious and controversial scheme to ward off deflation and stimulate growth in the eurozone, which expanded a weak 0.9 percent in 2014.
Nigeria's main opposition on Tuesday claimed victory in the country's tense general election as former military ruler Muhammadu Buhari pulled ahead of President Goodluck Jonathan in the vote count. With 32 out of 37 results in, Buhari's All Progressives Congress (APC) had won 19 states with Jonathan's Peoples Democratic Party (PDP) on 12 plus the Federal Capital Territory of Abuja. "This is the first time the opposition has voted a government out of power in Nigeria's history," he added. They included the northeastern states hit hardest by the six-year Boko Haram insurgency.
NEW YORK (AP) — Broadway theaters plan to dim their marquee lights Wednesday night in memory of Gene Saks, the Tony Award-winning director of such plays as "Brighton Beach Memoirs" and "The Odd Couple."