Economy NewsRSS

Chinese president promotes regional vision at Boao Forum

This photo provided by China's Xinhua News Agency shows a view of the Boao Forum in its opening in Boao on Hainan island in southern China, Saturday, March 28, 2015. Chinese President Xi Jinping argued Saturday for strong China-led efforts to promote Asian economic and political cooperation while opening a major regional economic conference. (AP Photo/Xinhua, Guo Cheng) NO SALESBOAO, China (AP) — Chinese President Xi Jinping argued Saturday for strong China-led efforts to promote Asian economic and political cooperation while opening a major regional economic conference.


03/28/2015 02:11 AM

Yellen: A rate increase may be warranted later this year
WASHINGTON (AP) — Federal Reserve Chair Janet Yellen said Friday that continued improvement in the U.S. economy means an increase in the Fed's key interest rate could come later this year.
03/27/2015 06:21 PM

Oil market jumps on Yemen unrest

Yemenis stand at the site of a Saudi air strike against Huthi rebels near Sanaa Airport on March 26, 2015World oil prices rose sharply this week as Saudi Arabian jets struck rebel targets in Yemen, sparking fresh supply fears in the crude-rich Middle East. Many commodities were also buoyed as weak US data sent the dollar sliding, denting confidence in the world's top economy and throwing into question the timeline for a long-awaited Federal Reserve interest rate hike. OIL: Prices rallied on Wednesday and Thursday after a Saudi Arabia-led coalition bombed Huthi Shiite rebels in support of Yemen's embattled President Abedrabbo Mansour Hadi. "The geopolitical tensions in Yemen are pushing (oil) prices higher," Daniel Ang, an investment analyst with Phillip Futures, told AFP.


03/27/2015 05:28 PM

US economic growth may be mild, but it's also really durable

In this photo made on Thursday, Feb. 12, 2015, a man welds parts in fans for industrial ventilation systems at the Robinson Fans Inc. plant in Harmony, Pa. The Commerce Department releases fourth-quarter gross domestic product on Friday, March 27, 2015. (AP Photo/Keith Srakocic)WASHINGTON (AP) — The U.S. economy's tepid performance last quarter — a 2.2 percent annual growth rate — was typical of the economic rebound that began in the summer of 2009. Yet the sluggish pace of the recovery has a silver lining: This growth spurt has proved to be one of the most durable since World War II.


03/27/2015 04:29 PM

US stocks snap 4-day slide

Wall Street stocks rise, snapping a four-day losing streak as traders shrug off weaker-than-expected US economic growth in the fourth quarterNew York (AFP) - Wall Street stocks rose Friday, snapping a four-day losing streak as traders shrugged off weaker-than-expected US economic growth in the fourth quarter.


03/27/2015 04:28 PM

Greek reforms will put economy on track: Athens

The Greek flag (R) and a towel depicting a 200 Euro banknote hang outside a kiosk in Athens, on March 22, 2015Greece said Friday the reform proposals it will soon present to its creditors will put the country's economy on track without the pain of austerity. A government document said the proposals, to be finalised by technical experts this weekend, would bring in 3.0 billion euros ($3.2 billion) in revenue, without resorting to wage and pension cuts. The measures would also see the crisis-hit Greek economy grow by 1.4 percent this year, the document said. Greek experts "will go to Brussels tonight for a Saturday meeting, to finalise the reform list that will be presented on Monday," a Greek government source told AFP.


03/27/2015 01:53 PM

Greece, Yemen keeps European stocks jittery

Europe's main stock markets closed mixed, with London's benchmark FTSE 100 index ending the day down 0.58 percent at 6,855.02 pointsEurope's main stock markets diverged Friday as dealers awaited news on a deal over Greece's finances next week, while also tracking unrest in Yemen. London's benchmark FTSE 100 index ended the day down 0.58 percent at 6,855.02 points. "On Friday, shares in Europe extended the recovery started a day earlier as concerns over the situation in Yemen eased but are nevertheless still looking at one of the worst weeks of 2015," said analyst Jasper Lawler at CMC Markets.


03/27/2015 01:44 PM

Brazil stagnates in 2014, recession looms for 2015

A view of the construction site of the athletes' village for the Rio 2016 Olympic and Paralympic games at Barra da Tijuca in Rio de Janeiro, Brazil, on March 25, 2015Hosting the World Cup in June and July and gearing up for the Olympics next year failed to reverse the drag of rising inflation, a ballooning deficit and a $4-billion kickbacks scandal at state oil giant Petrobras that has tarnished Brazil's largest company and President Dilma Rousseff's party. Rousseff has never managed to match the blistering 7.6-percent GDP growth Brazil posted in 2010, the last year in office of her charismatic predecessor and mentor, Luiz Inacio Lula da Silva. "Looking forward, the questions are how deep will the recession be in 2015, when will Brazil start to recover and how fast," said Robert Wood, Brazil analyst at the Economist Intelligence Unit. Agostini predicted India, whose economy is growing at an annual rate of more than seven percent, would surpass Brazil this year as the world's seventh economy.


03/27/2015 01:04 PM

French consumer confidence hits five-year high

The new figures in France show households feel more optimistic about their personal financial situations and living standards, with consumer spending also on the riseFrench consumer confidence has hit a five-year high, the Insee statistics agency said on Friday, signalling that households feel more optimistic about the country's growth. The composite indicator -- which measures the view taken by households of the economic situation -- gained one point and reached 93 this month, its highest value since November 2010. French Prime Minister Manuel Valls said the latest data showed that growth could pick up quicker than expected. Nevertheless the new figures show that French households feel more optimistic about their personal financial situations and living standards, with consumer spending also on the rise.


03/27/2015 11:52 AM

US economy slows in fourth quarter

The Commerce Department's third estimate of GDP growth on Friday was left unrevised at an annual rate of 2.2 percent following the third quarter's blistering 5.0 percent paceThe US economy slowed in the final quarter of 2014, with a sharp gain in consumer spending driving growth, but the outlook for the first quarter is even dimmer. As the Federal Reserve mulls raising near-zero interest rates this year, the Commerce Department's third estimate of gross domestic product (GDP) growth Friday was left unrevised at an annual rate of 2.2 percent following the third quarter's blistering 5.0 percent pace. Growth in consumer spending, which accounts for more than two-thirds of output in the world's largest economy, was revised upward to 4.4 percent, the strongest gain in nearly nine years, from 4.2 percent. The personal consumption expenditures price index, the Federal Reserve's preferred inflation measure, fell at an annual rate of 0.4 percent after a 1.2 percent rise in third quarter.


03/27/2015 11:33 AM

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