Current Affairs Global - 17 October 2012

1. Alvin Roth and Lloyd Shapley from USA have been awarded with the 2012 Nobel Prize in economics for their work on the theory of stable allocations and practice of market design.

2. British novelist Hilary Mantel won the 2012 Booker prize for her novel -Bring up the Bodies- which is the second book in a historical trilogy. Earlier she won the Booker prize in 2009 as well for the first novel in the trilogy named -Wolf Hall".

3. Yahoo has appointed Google executive Henrique de Castro as its next chief operating officer (COO). This is the second time; it has hired its top executive from its biggest rival Google. Earlier Yahoo has appointed former Google executive Marissa Mayer as its Chief Executive Officer (CEO).

4. Citigroup Inc Chief Executive Officer Vikram Pandit and Chief Operating Officer John Havens have resigned yesterday with immediate effect. Previously chief executive for Europe, Middle East and Africa, Michael Corbat has been appointed as the new CEO of the third largest US bank by the board chaired by Chairman Michael O'Neill.

5. The German government has lower its 2013 GDP growth forecast to 1% from earlier forecast of 1.6% due to worsening euro zone debt crisis and lower export demand from the entire region.