Japan’s central bank is embarking on an American-like plan to stimulate the country’s stalled economy by pumping more money into it. The Bank of Japan, under pressure from the new government of Prime Minister Shinzo Abe, agreed Tuesday to double its inflation target to 2 percent and stimulate the world’s third largest economy for an […]
Japan Moves to Stimulate Its Stalled Economy
Posted January 22nd, 2013 at 11:00 am (UTC-5)
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Global Unemployment Set To Rise Again
Posted January 21st, 2013 at 5:55 pm (UTC-5)
The International Labor Organization says nearly 200 million people worldwide are without jobs, and unemployment is set to increase further this year. The ILO’s “Global Employment Trends 2013” report says unemployment worldwide rose by 4.2 million in 2012 after falling for two straight years. It says one-quarter of the increase is in the advanced economies, […]
German Economy Contracted in Late 2012
Posted January 15th, 2013 at 9:50 am (UTC-5)
Germany has Europe’s most robust economy, but now even its economic fortunes are shrinking in the face of the eurozone recession. Berlin said Tuesday that its economy contracted one-half of one percent in the last three months of 2012, its biggest downturn in nearly three years. Germany said that cut its economic growth for last […]
Eurozone Industrial Production Still Shrinking
Posted January 14th, 2013 at 9:30 am (UTC-5)
The eurozone says its industrial production fell for the third straight month in November, the latest signal that the currency bloc remains mired in recession. The 17-nation eurozone said Monday that industrial output dropped the most in three years in November, down three-tenths of one percent. Analysts had predicted that manufacturing would advance slightly. From […]
US Weekly Oil Production Hits 7 Million Barrels a Day
Posted January 9th, 2013 at 6:35 pm (UTC-5)
The U.S. Department of Energy says U.S. oil production for the week ending January 4 exceeded 7 million barrels a day for the first time in two decades. The report, released Wednesday, said the weekly average output is a 1.16 million barrel increase from the same week last year. The jump is attributed to improved […]
US Weekly Oil Production Hits 7 Million Barrels a Day
Posted January 9th, 2013 at 6:00 pm (UTC-5)
The U.S. Department of Energy says U.S. oil production for the week ending January 4 exceeded 7 million barrels a day for the first time in two decades. The report, released Wednesday, said the weekly average output is a 1.16 million barrel increase from the same week last year. The jump is attributed to improved […]
Wall Street Bailout Beneficiary Rejects Suit Against Its Rescuer: US Taxpayers
Posted January 9th, 2013 at 3:40 pm (UTC-5)
One of Wall Street’s biggest beneficiaries of a U.S. taxpayer bailout at the height of the country’s 2008 economic downturn says it will not take part in a lawsuit against the government that claimed terms of the rescue were too tough. The board of giant insurer American International Group decided Wednesday against joining a $25 […]
For Boeing’s New Dreamliner, Glitches Aplenty
Posted January 9th, 2013 at 3:05 pm (UTC-5)
For the third day in a row, there are new problems in the operation of the world’s latest long-range jet aircraft, Boeing’s 787 Dreamliner. Japan’s All Nippon Airways canceled a Dreamliner flight Wednesday from the western Yamaguchi prefecture to Tokyo because of a brake problem. The airline said an error message was displayed in the […]
Wall Street Bailout Beneficiary Weighing Suit Against Its Rescuer: US Taxpayers
Posted January 9th, 2013 at 2:20 pm (UTC-5)
One of Wall Street’s biggest beneficiaries of a U.S. taxpayer bailout at the height of the country’s 2008 economic downturn is now weighing whether to sue the government on grounds that terms of the rescue were too onerous. Lawmakers in Washington have reacted angrily at the prospect that the giant insurer American International Group might […]
For Boeing’s New Dreamliner, Glitches Aplenty
Posted January 9th, 2013 at 11:05 am (UTC-5)
For the third day in a row, there are new problems in the operation of the world’s latest long-range jet aircraft, Boeing’s 787 Dreamliner. Japan’s All Nippon Airways cancelled a Dreamliner flight Wednesday from the western Yamaguchi prefecture to Tokyo because of a brake problem. The airline said an error message was displayed in the […]
