Fischer a long shot to chair U.S. Fed, poll of economists shows

Back in the job market as of Sunday, Stanley Fischer has only an outside chance of being tapped as the next chairman of the U.S. Federal Reserve when Ben Bernanke ends his tenure in early 2014, according to a Bloomberg poll of 54 economists taken two weeks ago. They rated Fischer's chances of succeeding Bernanke at 4%. Fischer, who stepped down on Sunday after eight years as governor, has been mentioned as a possible successor to Bernanke but has given only cryptic responses when asked about this. In an interview with Reuters published yesterday, Fischer said he was not sure what he would do next but that he was considering a return to academic life or government work. (TheMarker Staff )

Teva cleared of blame for death of Frenchman

Teva Pharmaceuticals was cleared of any blame in the death of a 92-year-old man in France by prosecutors handling the case, the company said yesterday. Last month French police said they were treating the death as "suspicious" after the man had been given medicine that may have been incorrectly labeled as a diuretic. Teva said a preliminary investigation showed no trace of the sedative zopiclone in its Furosemide diuretic. Two days before the man died, France's pharmaceutical watchdog ANSM asked pharmacies to remove 190,000 boxes of Teva's drug from shelves, saying they might contain zopiclone. "The results of the investigation clear Teva of all suspicion of failure in its operations," Teva CEO Jeremy Levin said. (Reuters )

20% of all product priceschange every month, study says

Every month an average of 20% of all product prices sold in Israel change, according to a joint Bank of Israel and Central Bureau of Statistics study published yesterday. While prices at supermarket chains change once every five months on average, prices at small grocery stores tend to remain unchanged for twice as long. The average period between price changes for all goods and services ranged between six and nine months. The study drew its figures from the statistics bureau's database containing over 3 million observation points that it uses to calculate the consumer price index. The study also confirmed that prices change less frequently when inflation is lower. (Moti Bassok )