Economy NewsRSS

Japan says no trade deal with U.S. as Obama prepares to depart

U.S. President Obama and Japan's Emperor Akihito offer toasts to each other during the Japan State Dinner at the Imperial Palace in TokyoJapan and the United States have made progress in trade talks but not reached the deal that they were hoping to seal at a bilateral summit, Economy Minister Akira Amari said on Friday. But he said, "Overall, the gaps are steadily narrowing" between the two sides, which did not issue the customary joint statement after Thursday's summit between President Barack Obama and Prime Minister Shinzo Abe.


04/24/2014 07:10 PM

EU should halve meat, dairy consumption to cut nitrogen-report
By Nina Chestney LONDON (Reuters) - People in the European Union, who according to a United Nations body eat way more protein than necessary, could prompt big cuts in nitrogen pollution if they halved their meat and dairy consumption, a U.N.-backed report said on Friday. Nitrogen is used in fertilizer to replace nutrients which are removed by soils during plant growth but excess nitrogen can harm the environment by polluting water, air and soil. That represents around 80 percent of nitrogen emissions from all sources, said the study by the United Nations' Economic Commission for Europe's (UNECE) Task Force on Reactive Nitrogen. "If all people within the EU would halve their meat and dairy consumption, this would reduce greenhouse gas emissions from agriculture by 25 to 40 percent, and nitrogen emissions by 40 percent," lead author Henk Westhoek, program manager for Agriculture and Food at the Netherlands Environmental Assessment Agency, said in a statement.
04/24/2014 07:10 PM

Bank of Canada sees evidence exports poised to heat up

Bank of Canada Governor Poloz speaks during a news conference in OttawaBy Bryn Levy SASKATOON, Saskatchewan (Reuters) - Bank of Canada Governor Stephen Poloz is more hopeful than before about an export recovery but is not straying from his mantra that an interest rate cut is just as possible as a hike because the economic outlook is so uncertain. "We're expressing true neutrality on that question," Poloz told reporters after a speech on Thursday when asked if the bank's next move would be an increase or a decrease in its main overnight target rate. But if the more upbeat scenario does not materialize and exports do worse than expected, overall inflation will fall again and drift further from the bank's 2 percent target, he warned. "The bank's analysis has given us a more granular interpretation of the export picture - and gives us more hope for the recovery of our non-energy export sector," Poloz said in a speech at a trade and export industry luncheon in Saskatoon, Saskatchewan.


04/24/2014 05:50 PM

Manufacturers see better times for economy, jobs

FILE - In this Monday, Sept. 10, 2012 file photo a General Electric logo is seen on a kitchen stove at a Lowe's store in Framingham, Mass. Industrial companies such as General Electric, Honeywell and Caterpillar, which make expensive equipment that other companies need to buy in order to grow, have been posting strong results in recent weeks and telling investors that orders are strong. (AP Photo/Steven Senne, File)NEW YORK (AP) — Companies are finally starting to spend some of the cash they've been sitting on, and that could mean a stronger economy and more jobs are on the way.


04/24/2014 03:58 PM

IMF board to meet next week to review aid package for Ukraine
By Elvina Nawaguna WASHINGTON (Reuters) - The International Monetary Fund on Thursday said its board planned to meet on April 30 to consider an aid package for Ukraine, saying that Kiev had supplied the necessary documents to determine whether conditions for a bailout had been met. The IMF tentatively agreed in late March to provide a $14 billion-$18 billion two-year aid package to help Ukraine recover from months of political and economic turmoil. "We're in the process of completing the steps necessary for board consideration," IMF spokesman Gerry Rice told reporters during a weekly briefing. "Staff are checking these documents to verify the details, if they're in line with the program understanding." As part of the conditions for the aid, the IMF expects Ukraine to implement major reforms in its energy and financial sectors, which included raising the price of its domestic gas.
04/24/2014 03:06 PM

Bank of Canada sees export recovery, but low inflation if wrong

Bank of Canada Governor Poloz speaks during a news conference in OttawaThe Bank of Canada is more hopeful than before for the recovery of the country's exports but if exports do worse than expected, overall inflation will fall again and drift further from the target, Governor Stephen Poloz said on Thursday. A new study by the central bank of Canada's non-energy exports found that while some sectors had not rebounded in line with foreign demand, other sectors representing about half of total exports should benefit from foreign expansion, he said. Poloz had previously confessed to being puzzled by Canada's lagging exports and said a recovery of the sector was a prerequisite for full economic comeback. "However, if, for some reason, the export recovery were less than we're predicting, then total inflation, having gone up to target, will simply drift back down to converge with core inflation at perhaps around 1 percent, because the output gap will be just as big as before." The bank's analysis of 31 non-energy export sectors found that the recent depreciation of the Canadian dollar would help some industries, but that the majority of sectors that had been doing well - and which the bank says should drive the export recovery - are less likely to benefit from the lower currency.


04/24/2014 02:37 PM

Iranians face midnight fuel price surge as subsidies cut
By Michelle Moghtader DUBAI (Reuters) - Iranians have rushed to gas stations to fill their cars before a price surge expected at midnight on Thursday, as President Hassan Rouhani pushes ahead with a policy to cut fuel subsidies. The new prices of subsidized petrol, diesel and compressed natural gas (CNG) have not been announced, but the increases will test Rouhani's support among a population battered by soaring inflation that has been exacerbated by economic sanctions. With memories of riots at the pumps when cheap fuel was rationed for the first time, in 2007, police are on the alert, but do not expect trouble, Interior Minister Abdolreza Rahmani Fazli said. "We have been preparing for two months to implement these plans in provinces, cities and rural areas," state news agency IRNA quoted Rahmani Fazli as saying on Thursday "Considering the planning, it is expected that the second phase of target subsidies will take place without any problems or displeasure from people." Rouhani's predecessor, Mahmoud Ahmadinejad, last cut subsidies for fuel, food and utilities in December 2010.
04/24/2014 01:16 PM

IMF board to meet April 30 to review aid package for Ukraine
By Elvina Nawaguna WASHINGTON (Reuters) - The International Monetary Fund said on Thursday that its board would meet on April 30 to consider an aid package for Ukraine, saying that Kiev had supplied the needed documents for it to determine whether conditions for a bailout had been met. The IMF tentatively agreed in late March to provide a $14 billion-$18 billion two-year bailout to help Ukraine recover from months of political and economic turmoil. The IMF board has yet to approve that package. "Staff are checking these documents to verify the details, if they're in line with the program understanding." The IMF's aid to Ukraine is expected to unlock additional international assistance of about $15 billion over the same two-year period for the nation.
04/24/2014 12:41 PM

South Sudan to free prisoners as pressure mounts for peace deal

South Sudan's President Kiir speaks during a joint news conference with Sudan's President Bashir at Khartoum AirportBy Carl Odera JUBA (Reuters) - South Sudan will free four high-profile political prisoners facing treason charges, a presidential spokesman said on Thursday, meeting a demand by rebels in a faltering peace process. President Salva Kiir has come under mounting pressure as rebel fighters loyal to Kiir's sacked deputy, Riek Machar, seize territory and close in on northern oil fields that provide the country's economic lifeline.


04/24/2014 12:38 PM

France, Germany show EU support for Georgia as Ukraine crisis mounts
By Margarita Antidze TBILISI (Reuters) - France and Germany assured Georgia on Thursday that a deal bringing it closer to the European Union would be sealed within weeks, moving to tighten ties with the ex-Soviet republic as tension mounts between Russia and the West over Ukraine. The two core EU nations' top diplomats affirmed plans to speed up the signing of a deal to boost trade and political ties - the same kind of pact whose rejection by Ukraine in November touched off the biggest East-West crisis since the Cold War. "I am sure that by the end of June the agreement will have been signed and that it is an important milestone in the history of Georgian and European relations," German Foreign Minister Frank-Walter Steinmeier said in Tbilisi. "This agreement is not aimed against anyone ... The EU's economic relations with Georgia don't place economic cooperation between Georgia and Russia in doubt," he told a joint news conference with French Foreign Minister Laurent Fabius.
04/24/2014 11:59 AM

Detroit Rock Radio | Economy News | Gun News Finder | Yahoo News RSS Feed



Served @ April 24th, 2014 07:50 PM By iNIC | Appraisals Guru | Festivus | Hunger Craft | Mooj Quotes