Economy NewsRSS

Scots voted 'No' over economic worries

Scotland's "No" campaign focused on the economic dangers of independence, in particular warning of uncertainty over the currency after the British government said the separatists would not be able to keep the poundLondon (AFP) - Scots were driven to reject independence in a historic referendum more out of fears over the economic risks of going alone than a strong attachment to the United Kingdom, a survey analysis shows.

09/20/2014 02:49 PM

New Zealand's National Party marches back to power

New Zealand's National Party leader John Key leaves the polling area at a local school with sausages in hand after casting his vote with his wife Bronagh and his son Max on election day during New Zealand's general election in AucklanBy Gyles Beckford WELLINGTON (Reuters) - New Zealand's ruling National party stormed to a third term in government in the country's general election on Saturday with the center-right party securing an outright election night majority on a platform to continue tight economic policies. Prime Minister John Key's party won 48.1 percent of the vote, translating into 61 of 121 parliamentary seats and improving its performance from the 2011 vote. "I think people saw the country was on the right direction and they rewarded us," Key told reporters as he headed to a victory rally. ...

09/20/2014 09:05 AM

Canada finance minister says G20 near growth target, wants more from Europe
CAIRNS Australia (Reuters) - Canada's finance minister said on Saturday commitments made by G20 countries came "very close" to the target of adding an extra 2 percentage points to global economic growth and he urged European governments to increase stimulus where they could. More than 900 individual proposals have been submitted and analyzed by officials in the lead-up to the Group of 20 meeting of finance ministers and central bankers, Joe Olive told Reuters. ...
09/20/2014 07:50 AM

South Africa's rand under pressure as market grapples with Marcus departure

South African Reserve Bank Governor Gill Marcus shows off a new South African banknote before conducting the first transaction in PretoriaJOHANNESBURG (Reuters) - South Africa's rand visited a fresh 7-month low on Friday, in a market still coming to terms with the news that well-regarded central bank Governor Gill Marcus will leave her post in November. Traders said uncertainty over who will succeed Marcus would keep investors nervous about future monetary policy in Africa's most advanced economy. The rand's moves also reflected a stronger dollar as investors anticipate that the U.S. Federal Reserve might tighten policy faster than expected. ...

09/20/2014 07:38 AM

Mexico set to achieve 2.7 percent growth for 2014: Deputy Finance Minister
CAIRNS Australia (Reuters) - The Mexican economy is on track to achieve the government's growth forecast of 2.7 percent for 2014, deputy finance minister Fernando Aportela said on Saturday. Aportela said the latest data for new jobs, industrial output and automotive production supported the government's forecast, which some analysts have described as optimistic. "When you look at the indicators of the Mexican economy, they show a recovery that is consistent with the 2. ...
09/20/2014 05:47 AM

Japan tells G20 its economy continues to recover: Aso
CAIRNS Australia (Reuters) - Japanese Finance Minister Taro Aso said on Saturday he told his Group of 20 counterparts that the world's third-largest economy continues to recover moderately despite the temporary pain from a sales tax hike in April. He also said Japan stressed the importance of setting up appropriate financial regulation and macro-prudential frameworks to guard against any sudden change to the current low volatility market environment. Asked whether the dollar's rise to 109 yen reflected economic fundamentals, Aso said: "We can't comment on such questions. ...
09/20/2014 05:40 AM

Russia demands changes to Ukraine-EU association deal

Russia has demanded changes to a landmark political and economic pact between the EU and Ukraine in order to meet Moscow's concerns, according to a letter seen by AFPBrussels (AFP) - Russia has demanded changes to a landmark political and economic pact between the EU and Ukraine in order to meet Moscow's concerns, according to a letter seen by AFP on Friday.

09/19/2014 07:14 PM

Global shares end flat, closing out strong week

Traders work on the floor of the New York Stock ExchangeBy Ryan Vlastelica NEW YORK (Reuters) - Stock markets around the world closed flat on Friday as early gains failed to hold through the session, though the upward trend in equities continued and Alibaba soared in its historic U.S. trading debut. Alibaba Group , one of the biggest IPOs ever, ended up 38 percent at $93.89 on massive volume. However, because the Chinese online retailer's stock is traded on the New York Stock Exchange and is not an S&P 500 component, its gains were not reflected in major indexes. ...

09/19/2014 06:14 PM

Moody's keeps France on negative outlook

Moody's kept its Aa1 overall rating for France's debt, but warned of significant risks in the government's efforts at restructuring to deal with its heavy fiscal challengesWashington (AFP) - Moody's maintained its negative rating on France on Friday but -- despite earlier reports -- did not deal the struggling economy a downgrade.

09/19/2014 05:38 PM

Wisconsin governor candidate cuts ties with consultant over jobs plan
By Brendan O'Brien MILWAUKEE (Reuters) - Wisconsin Democratic gubernatorial candidate Mary Burke severed ties with a political consultant after he used similar language in her jobs plan as he did in economic plans he drafted for other clients, Burke's campaign said on Friday. Burke's spokesman, Joe Zepecki, said the campaign ended its relationship on Thursday with Eric Schnurer of Public Works, a Pennsylvania-based consulting firm, after he used about 10 passages from the past plans he drafted for former clients in Burke's "Invest for Success," a 40-page jobs plan. ...
09/19/2014 05:36 PM

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