U.S. central bank officials are meeting in Washington, to consider whether new measures are needed to boost economic growth and cut the stubbornly high jobless rate. Federal Reserve policy makers are discussing options Tuesday and Wednesday before announcing any actions to try to spur the U.S. economy, the world’s largest. The American economy only advanced […]
US Central Bank Weighing Actions to Boost Weak Economy
Posted July 31st, 2012 at 9:50 am (UTC-5)
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U.S., Germany Confident on Eurozone Reform Success
Posted July 30th, 2012 at 12:20 pm (UTC-5)
The U.S. and German finance chiefs are voicing confidence that the 17-nation euro currency union will be able to reform and further integrate its financial operations. U.S. Treasury Secretary Timothy Geithner met with German Finance Minister Wolfgang Schaeuble at his North Sea vacation retreat Monday. Later, the finance chiefs said in a statement that the […]
European Central Bank Pledges Euro Support
Posted July 26th, 2012 at 1:20 pm (UTC-5)
The European Central Bank says it will do whatever is necessary to preserve the euro. Bank president Mario Draghi told a London investment conference Thursday that Europe’s key financial institution is “ready to do whatever it takes” to protect the currency, adding, “And believe me it will be enough.” His comments suggest the bank could […]
US Jobless Benefit Claims Drop
Posted July 26th, 2012 at 11:40 am (UTC-5)
First-time claims for jobless assistance fell last week in the United States, but analysts remain skeptical that the country’s labor market is set to rebound. The government said Thursday that the number of newly unemployed workers seeking financial aid dropped by 35,000 to 353,000. But the Labor Department said changes in the normal summertime layoffs […]
European Central Bank Pledges Euro Support
Posted July 26th, 2012 at 9:55 am (UTC-5)
The European Central Bank says it will do whatever is necessary to preserve the euro. Bank president Mario Draghi told a London investment conference that Europe’s key financial institution is “ready to do whatever it takes” to protect the currency, adding, “And believe me it will be enough.” His comments suggest the bank could buy […]
China’s Economy Set for ‘Soft Landing’
Posted July 25th, 2012 at 10:55 am (UTC-5)
The International Monetary Fund says China’s economy is undergoing a “soft landing” as weaker demand for its exports and a rebalancing of domestic priorities affect the country’s growth. In a report Wednesday, the IMF said it expects China’s growth to slow from more than 9 percent in 2011 to 8 percent this year. It cited […]
British Economy Shrinks Third Straight Quarter
Posted July 25th, 2012 at 10:10 am (UTC-5)
Britain’s economy is sinking further into recession, even more than analysts had projected. The British government said Wednesday its economy contracted seven-tenths of a percent in the April-to-June period, its worst quarter since the height of the global downturn in early 2009 and well above predictions of a slight decline. It was the third straight […]
China’a Economy Set for ‘Soft Landing’
Posted July 25th, 2012 at 3:15 am (UTC-5)
The International Monetary Fund says China’s economy is undergoing a “soft landing” as weaker demand for its exports and a rebalancing of domestic priorities affect the country’s growth. In a report Wednesday, the IMF said it expects China’s growth to slow to 8 percent this year, and cites the eurozone debt crisis as the main […]
Greek PM Samaras Predicts Economic Growth by 2014
Posted July 24th, 2012 at 12:55 pm (UTC-5)
Greek Prime Minister Antonis Samaras is pledging that the economy in his recession-plagued country can start to grow again by early 2014. Auditors for Greece’s international creditors are in Athens to check on the government’s progress in imposing unpopular austerity measures to cut its deficit and the country is mired in the fifth year of […]
Spain Facing New Financial Pressures
Posted July 24th, 2012 at 10:05 am (UTC-5)
Spain is facing new financial pressures, with its borrowing costs edging higher and its stock market falling amid fears it will need an international bailout. Madrid’s borrowing costs Tuesday moved well above the 7 percent interest rate level that forced Greece, Ireland and Portugal to secure international bailouts in the last two years. Investors sold […]
