Officials of the International Monetary Fund say Iran has cut inflation in half and sharply reduced the money it spends subsidizing energy, wheat, transportation and other goods needed by consumers. After a visit to Teheran, IMF experts said Iran’s inflation rate has fallen to a bit over 12 percent. The government has also made deep […]
US Bankers, CEOs See Better Times Ahead
Posted June 14th, 2011 at 2:55 pm (UTC-5)
U.S. bankers and chief executives are not losing their faith in the ongoing economic recovery despite several weeks of poor economic reports. A report Tuesday from the American Bankers Association , an industry trade group, forecasts the country’s total economic output will grow at a rate of 3 percent through the end of 2012. Meanwhile, […]
IMF: Iran Cuts Inflation & Subsidies
Posted June 14th, 2011 at 10:55 am (UTC-5)
Officials of the International Monetary Fund say Iran has cut inflation in half and sharply reduced the money it spends subsidizing energy, wheat, transportation and other goods needed by consumers. After a visit to Teheran, IMF experts said Iran’s inflation rate has fallen to a bit over 12 percent. The government has also made deep […]
India’s Inflation Rate Rises
Posted June 14th, 2011 at 10:55 am (UTC-5)
Higher food and fuel costs pushed India’s inflation rate to 9.06 percent in May, increasing pressure on the country’s central bank to increase interest rates again. The country’s main inflation gauge — the wholesale price index — jumped more than half a point last month from 8.66 percent in April. The government on Tuesday also […]
US Retail Sales Fall; Wholesale Inflation Rises
Posted June 14th, 2011 at 9:55 am (UTC-5)
U.S. retail sales declined in May because of a sharp drop in sales of automobiles. Tuesday’s report from the Commerce Department says U.S. auto sales slowed when Japan’s multiple disasters hampered production of auto parts. This is the first decline in retail sales in nearly a year. Experts watch retail sales because consumer demand drives […]
Greece’s Credit Rating Cut
Posted June 13th, 2011 at 6:45 pm (UTC-5)
The financial services company Standard & Poor’s has cut Greece’s credit rating deeper into junk territory, saying the country is likely to default on its massive debts within the next year. Monday’s downgrade from B to CCC makes Greece the least credit worthy country in the world on the rating agency’s list. Barely a year […]
Obama Says Private Sector, Govt. to Train 10,000 American Engineers a Year
Posted June 13th, 2011 at 3:25 pm (UTC-5)
U.S. President Barack Obama says his administration will work with private companies to train 10,000 new American engineers a year to create more high-skilled jobs in a weak economy where unemployment tops 9 percent. Mr. Obama announced the job training initiative Monday in a speech to workers at a high-tech manufacturing facility that he toured […]
Obama Travels to North Carolina for Jobs Meeting
Posted June 13th, 2011 at 9:55 am (UTC-5)
U.S. President Barack Obama travels to North Carolina Monday to hear private-sector proposals for boosting job creation, as he tries to reassure voters worried about a slow economic recovery. Mr. Obama will meet in the city of Durham with 26 business leaders he appointed in to a Jobs and Competitiveness Council. Council leader Jeffrey Immelt, […]
Obama Promotes Job Training to Spur Hiring
Posted June 11th, 2011 at 9:10 am (UTC-5)
U.S. President Barack Obama says a new job training initiative will help thousands of people gain the necessary qualifications for manufacturing jobs. In his weekly address Saturday, Mr. Obama said the government is partnering with colleges and the private sector so 500,000 community college students can acquire approved credentials for manufacturing. Earlier this week at […]
Germany Says Private Creditors Must Help With Greek Bailout
Posted June 10th, 2011 at 9:35 am (UTC-5)
German Finance Minister Wolfgang Schaeuble told parliament Friday that private investors will have to help with a new financial aid package for Greece. Schaeuble said European finance ministers are setting up a working group to find a “good solution” for the involvement of the private sector that the European Central Bank can support. He said […]
