Economy NewsRSS

China's October factory growth unexpectedly hits five-month low: official PMI

An employee works at the production line of an automobile factory in DalianBEIJING (Reuters) - China's factory activity unexpectedly fell to a five-month low in October as firms fought slowing orders and rising costs in the cooling economy, reinforcing views that the country's growth outlook is hazy at best. The official Purchasing Managers' Index (PMI) eased to 50.8 in October from September's 51.1, the National Bureau of Statistics said on Saturday, but above the 50-point level that separates growth from contraction on a monthly basis. Analysts polled by Reuters had forecast a reading of 51.2. ...

11/01/2014 12:31 AM

China manufacturing growth falls in October
BEIJING (AP) — China's manufacturing growth declined further in October amid a slowing economy and languishing global demand, according to surveys released Saturday.
11/01/2014 12:28 AM

Colombians jailed in Venezuela for $15 grocery run
BOGOTA, Colombia (AP) — A $15 grocery run has cost two single mothers from Colombia 48 days in jail, along with the threat of a 14-year prison sentence, as a result of a crackdown on smuggling in Venezuela that is ratcheting up tensions and highlighting growing economic distortions between the neighbors.
10/31/2014 08:50 PM

World stocks rally after Japanese stimulus

The London Stock Exchange on September 22, 2011. European stocks rallied at the start of trading on Friday, October 31 as investors welcomed the Bank of Japan's surprise stimulus boostGlobal stocks soared and US markets powered to fresh records Friday after the Bank of Japan surprised investors with a sharp increase to its stimulus operations. The policy switch, aimed at countering a slowdown in the Japanese economy, delivered a much-needed boost to equities from Asia to the Americas after a slow week marked by the US Federal Reserve's announcement of the end of its own huge quantitative easing program. "Just as the Fed takes away the punch bowl, the BoJ has turned up with a crate of sake," said Capital Spreads dealer Jonathan Sudaria, on the diverging monetary policies. In Japan, the Nikkei index added 4.8 percent to its highest level since November 2007.

10/31/2014 06:34 PM

Bank of Japan redoubles efforts to revive economy

A man rests on a street near a train station in Tokyo, Friday, Oct. 31, 2014. Japan's economic recovery remained in the doldrums in September, as household spending fell, inflation edged lower and unemployment ticked up, according to data released Friday, as the Bank of Japan held its policy meeting. (AP Photo/Koji Sasahara)TOKYO (AP) — Japan's central bank surprised the financial world and pleased investors Friday by intensifying its purchases of government bonds and other assets to try to revive a chronically anemic economy.

10/31/2014 06:30 PM

US consumer spending down 0.2 percent in September

In this Tuesday, Oct. 28, 2014 photo, customers check out at the new Century 21 Department Store in Philadelphia. The Commerce Department releases personal income and spending for September on Friday, Oct. 31, 2014. (AP Photo/Matt Rourke)WASHINGTON (AP) — U.S. consumer cut spending in September for the first time in eight months, as incomes grew at the slowest pace this year. The figures underscore nagging economic soft spots that are expected to ease in the coming months.

10/31/2014 06:30 PM

France 'determined' to drive economic reforms: PM

French Prime Minister Manuel Valls (L) and his Dutch counterpart Mark Rutte address a joint press conference in The Hague, Netherlands, on October 31, 2014French Prime Minister Manuel Valls on Friday said Paris was "absolutely determined" to drive economic reforms and that France was not "Europe's sick man". Valls was visiting the Netherlands for talks with Dutch counterpart Mark Rutte on how to kickstart the continent's economy. "I want to tell you that we're absolutely determined to carry through our reforms," Valls said after Dutch complaints that Paris was breaking the European Union's spending rules. France has said that next year's deficit -- the shortfall between revenue and spending -- will hit 4.3 percent of annual economic output, far above the EU's 3.0 percent ceiling.

10/31/2014 05:14 PM

Canadian dollar slides on soft Canadian GDP, U.S. dollar flows

New Canadian five and 10 dollar bills, made of polymer, are displayed following an unveiling ceremony at the Bank of Canada in OttawaBy Solarina Ho TORONTO (Reuters) - The Canadian dollar dropped to its weakest level in more than a week against its U.S. counterpart on Friday after data showed the country's economy unexpectedly shrank in August for the first time in eight months. The currency's weaker tone was set overnight after the Bank of Japan shocked financial markets around the world by expanding its massive stimulus spending. The move sent the yen plunging to a near seven-year low against the U.S. dollar. ...

10/31/2014 04:52 PM

TSX climbs on BOJ stimulus steps; gold miners drop

A sign board displaying Toronto Stock Exchange stock information is seen in TorontoBy John Tilak and Susan Taylor TORONTO (Reuters) - Canada's main stock index advanced on Friday after fresh stimulus measures from the Bank of Japan drove up most major sectors, while shares of gold miners slumped with the price of bullion. The Japanese central bank expanded its massive stimulus spending in an admission that economic growth and inflation have not picked up as much as expected after a sales tax hike in April. The move fueled a surge in the U.S. dollar , sending the bullion price tumbling. Shares of gold miners dived yet again, slumping to their lowest in about 13 years. ...

10/31/2014 04:43 PM

Shares jump, yen slumps as BoJ ramps up stimulus

A trader works on floor of New York Stock Exchange shortly after market's opening bell in New YorkBy Herbert Lash NEW YORK (Reuters) - Global equity markets surged more than 1 percent and the yen fell to a nearly seven-year low against the dollar on Friday after the Bank of Japan surprised financial markets by ramping up its massive economic stimulus program. The unexpected jolt from the BOJ led the dollar to post its biggest daily gain against the yen in 18 months, while driving gold and silver to their lowest since 2010. ...

10/31/2014 04:40 PM

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