Greek Prime Minister Lucas Papademos and Finance Minister Evengelos Venizelos have resumed talks on debt writedown with international private lenders. Officials close to the talks told reporters that progress was made late Thursday during the talks, which they said focused on technical and legal issues. Talks between the Greek officials and top bank negotiators, Charles […]
EU Says Greece May Need More Eurozone Aid
Posted January 26th, 2012 at 3:05 pm (UTC-5)
The European Union’s top economic official says that Greece’s public creditors may have to hand it more financial aid to cut its staggering debt because a prospective deal with private lenders is not likely to be big enough. EU economics commissioner Olli Rehn said Thursday that he expects the Athens government will reach a deal […]
EU Says Greece May Need More Eurozone Aid
Posted January 26th, 2012 at 12:50 pm (UTC-5)
The European Union’s top economic official says that Greece’s public creditors may have to hand it more financial aid to cut its staggering debt because a prospective deal with private lenders is not likely to be big enough. EU economics commissioner Olli Rehn said Thursday that he expects the Athens government will reach a deal […]
US Economy: Mixed Signals
Posted January 26th, 2012 at 11:20 am (UTC-5)
The sluggish U.S. economy produced mixed signals Thursday about how fast it is advancing. The U.S. government reported that orders for durable goods — those designed to last at least three years — surged 3 percent in December, suggesting that manufacturing is a strong segment of the national economy. Orders for cars, commercial airplanes, machinery, […]
US Economy: Mixed Signals
Posted January 26th, 2012 at 10:10 am (UTC-5)
The sluggish U.S. economy produced mixed signals Thursday about how fast it is advancing. The U.S. government reported that orders for durable goods — those designed to last at least three years — surged 3 percent in December, suggesting that manufacturing is a strong segment of the national economy. Orders for cars, commercial airplanes, machinery, […]
US Central Bank Sees Low Interest Rates Through 2014
Posted January 25th, 2012 at 3:40 pm (UTC-5)
The U.S. central bank says it will keep its benchmark interest rate near zero at least until late 2014, a new move to try to spark the sluggish growth of the world’s largest economy. The Federal Reserve had previously said it would keep its key lending rate low through mid-2013. But on Wednesday, officials lengthened […]
US Central Bank Sees Low Interest Rates Through 2014
Posted January 25th, 2012 at 2:05 pm (UTC-5)
The U.S. central bank says it will keep its benchmark interest rate near zero at least until late 2014, a new move to try to spark more growth in the world’s largest economy. The Federal Reserve had previously said it would keep its key lending rate low through mid-2013. But on Wednesday, officials lengthened the […]
Greek Debt Relief Talks Hit an Impasse
Posted January 25th, 2012 at 11:55 am (UTC-5)
Negotiations to cut half of the debt Greece owes its private creditors have hit an impasse. Major lenders have agreed to forgive about $130 billion of the debt that the Athens government owes them. But negotiations have stalled over what interest rate the creditors will accept on Greece’s revised financial obligations. Leaders of 32 financial […]
Japan Records First Trade Deficit in More Than 30 Years
Posted January 25th, 2012 at 4:40 am (UTC-5)
Japan has posted its first annual trade deficit in more than 30 years, as the loss of nuclear power forced it to import more energy and the rising value of the yen slowed exports. Japan’s Finance Ministry said Wednesday the largely export-driven economy logged a $32 billion deficit for 2011. Total exports shrank 2.7 percent […]
Japan Records First Trade Deficit in More Than 30 Years
Posted January 25th, 2012 at 1:40 am (UTC-5)
Japan has posted its first annual trade deficit in more than 30 years, as the loss of nuclear power forced it to import more energy and the rising value of the yen slowed exports. Japan’s Finance Ministry said Wednesday the largely export-driven economy logged a $32 billion deficit for 2011. Total exports shrank 2.7 percent […]
