Claims for jobless benefits have dropped sharply again in the United States, a new signal that the country’s labor market may be improving. The government said Thursday that 343,000 jobless workers sought unemployment compensation last week, down 29,000 from the week before. It was the fourth straight week the number has declined and is the […]
US Jobless Benefit Claims Drop Sharply
Posted December 13th, 2012 at 11:20 am (UTC-5)
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Eurozone Approves Greek Aid, New Bank Regulation
Posted December 13th, 2012 at 10:00 am (UTC-5)
Eurozone finance ministers have approved the release of more bailout money for Greece, ending weeks of fears that the debt-ridden country might default on its financial obligations. The finance chiefs approved the $44 billion payment to Athens Thursday after the Greek government this week bought back $41 billion in government bonds from private investors at […]
EU Reaches Eurozone Bank Supervision Deal
Posted December 13th, 2012 at 1:25 am (UTC-5)
European Union finance ministers have reached a deal to create a single supervisor for eurozone banks, in a bid to address a key component of the continent’s financial struggles. The agreement reached early Thursday gives the European Central Bank broad powers to oversee banks in the 17 nations that use the euro currency, as well […]
US Central Bank Weighing New Stimulus
Posted December 12th, 2012 at 10:00 am (UTC-5)
Federal Reserve policy makers are meeting in Washington, with economists predicting the central bank will expand its stimulus efforts to boost the sluggish U.S. economy. The central bank has pumped hundreds of billions of dollars into the U.S. economy over the last two years through purchase of government bonds and real estate-related securities, but the […]
Monti Resignation Sparks New Eurozone Uncertainty
Posted December 10th, 2012 at 10:20 am (UTC-5)
Italy’s stock market plunged Monday and the country’s borrowing costs jumped as the unexpected resignation of Italian Prime Minister Mario Monti added a new uncertainty to the eurozone debt crisis. The country’s main stock exchange index (the FTSE MIB) fell nearly three percent, while the interest rate on the Rome government’s 10-year bond increased a […]
ADB Says Asian Growth ‘On Track’ in 2013
Posted December 8th, 2012 at 3:00 am (UTC-5)
A new report from the Asian Development Bank says lagging Asian economies should pick up steam in the coming year. The latest Asian Development Outlook Supplement predicts that developing Asia will post growth of 6.0 percent in 2012 and 6.6 percent in 2013, about a tenth of a percentage point lower than anticipated in October. […]
Greek Economy Still Plunging
Posted December 7th, 2012 at 3:40 pm (UTC-5)
The economy in debt-ridden Greece is continuing its freefall, contracting 6.9 percent in the July-to-September period compared to a year ago. The Athens government said Friday the third quarter drop was a slight improvement from an earlier forecast. But the Greek economy is expected to contract another 4.5 percent next year, which would be its […]
European Central Bank Sees More Eurozone Economic Decline
Posted December 6th, 2012 at 1:40 pm (UTC-5)
The European Central Bank says the economic fortunes of the 17-nation euro currency bloc are likely to continue to decline next year and not advance again until late in 2013 and into 2014. Bank president Mario Draghi gave his assessment of the eurozone economy Thursday after the central bank kept its benchmark interest rate at […]
European Central Bank Sees More Eurozone Economic Decline
Posted December 6th, 2012 at 12:10 pm (UTC-5)
The European Central Bank says the economic fortunes of the 17-nation euro currency bloc are likely to continue to decline next year and not advance again until late in 2013 and into 2014. Bank president Mario Draghi gave his assessment of the eurozone economy Thursday after the central bank kept its benchmark interest rate at […]
EU Finance Chiefs Fail to Reach Bank Regulation Pact
Posted December 4th, 2012 at 11:10 am (UTC-5)
European Union finance chiefs have failed to reach an agreement on regulating banks across the continent. The 27 finance leaders met in Brussels Tuesday, but left without a compromise after French Finance Minister Pierre Moscovici and his German counterpart, Wolfgang Schaeuble, clashed on the extent of the banking regulatory power that the European Central Bank […]
