Asian stock markets have sustained massive losses during Friday’s trading session, a day after stocks plunged on U.S. and European exchanges. Japan’s Nikkei index lost over two percent by midday, while indexes in both Hong Kong and Sydney lost nearly two and one-half percent. Seoul’s Kospi index had plunged well over four percent by midday. […]
Asian Stocks Slumping in Midday Trading
Posted August 18th, 2011 at 11:40 pm (UTC-5)
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US & European Stocks Plunge; Gold Surges
Posted August 18th, 2011 at 9:50 pm (UTC-5)
Stock prices opened sharply lower in Asia Friday, a day after stocks plunged on U.S. and European exchanges. Japan’s Nikkei index was down about 2 percent in early trading Friday while Hong Kong’s Hang Seng index was down nearly 2.7 percent. On Thursday, the DAX index in Germany fell almost 7 percent at one point, […]
US Economy Forecast: Slow Growth, Higher Inflation, Fewer Jobs
Posted August 18th, 2011 at 11:25 am (UTC-5)
Reports published Thursday predict slow economic growth in the United States, with inflation and unemployment rising and the troubled housing market getting worse. A private research group, the Conference Board, says its gauge of future economic growth rose more in July than in June. Other reports were more downbeat . A business group, the National […]
US Inflation & Jobless Claims Rise
Posted August 18th, 2011 at 9:00 am (UTC-5)
The cost of fuel, food, and clothing rose the most in four months in the United States during July. Thursday’s report from the Labor Department says the consumer price index went up five-tenths of a percent last month. Prices declined slightly in the prior month. Outside the volatile area of food and energy, prices in […]
US Wholesale Prices Increased in July
Posted August 17th, 2011 at 9:55 am (UTC-5)
The U.S. says the price for wholesale goods increased in July. The government said Wednesday that wholesale prices — the price manufacturers pay for goods and materials before they reach consumers — advanced two-tenths of a percent in July, twice what economists had forecast. Excluding the volatile food and energy categories, the closely watched core […]
Fitch: Sub-Saharan Africa Economy Improving
Posted August 16th, 2011 at 11:50 am (UTC-5)
One company that rates investments around the world, Fitch, says Sub-Saharan Africa will continue with “robust” economic growth if it can overcome problems with infrastructure and governance. Tuesday’s report from Fitch says the region’s annual growth rate slowed to 2.8 percent in 2009 during the global economic crisis. Growth rebounded to 5 percent in 2010, […]
Fitch: US Still AAA
Posted August 16th, 2011 at 10:30 am (UTC-5)
The Fitch rating agency is keeping its top-level credit rating on the United States. Fitch says it kept the AAA credit rating in place because the U.S. economy is flexible, diversified, and wealthy, which helps the nation adjust to marketplace shocks. The rating decision by Fitch follows an August 5 downgrade of U.S. debt by […]
Downbeat Data On The US Economy
Posted August 15th, 2011 at 12:40 pm (UTC-5)
A measure of U.S. manufacturing dropped on Monday, while foreigners sold more U.S. assets than they bought, and homebuilders remained gloomy. One of those downbeat reports was a study by the U.S. Federal Reserve showing that manufacturing in the key New York area shrank in July. The Fed report said the problem was worse than […]
Buffett Asks US to Stop ‘Coddling’ Rich on Taxes
Posted August 15th, 2011 at 8:55 am (UTC-5)
The second-richest person in the United States, investor Warren Buffett, has repeated his plea for the government to collect more taxes from the country’s “super-rich” as one way to cut the government budget deficit and debt. Writing in Monday’s New York Times , Buffett said the wealthiest Americans have been “coddled long enough by a […]
Asian Markets Rise as Japan Exceeds GDP Expectations
Posted August 15th, 2011 at 5:30 am (UTC-5)
Asian stock markets rose Monday, riding a global market rally and buoyed by news that Japan’s earthquake-battered economy shrank less than expected in the April to June period. Japan’s gross domestic product contracted 0.3 percent over the three months as manufacturers struggled with the effects of the March 11 earthquake and tsunami. But that was […]
