Data published Thursday paints a mixed picture of the U.S. economy, with factory activity growing, while jobless claims got a little worse. An industry group says its index of manufacturing showed the sector expanded at the fastest rate in five months. The factory sector was the first to recover after the recent recession and has […]
European Central Bank Chief Calls for Eurozone ‘Fiscal Compact’
Posted December 1st, 2011 at 12:20 pm (UTC-5)
The new chief of the European Central Bank says it might give new assistance to the continent’s debt-ridden governments, but only if the 17-nation eurozone first adopts “a new fiscal compact” to control the spending of individual countries. Bank President Mario Draghi said Thursday that more centralized oversight of budgets was “the most important […]
European Central Bank Chief Calls for Eurozone ‘Fiscal Compact’
Posted December 1st, 2011 at 11:00 am (UTC-5)
The new chief of the European Central Bank says it might give new assistance to the continent’s debt-ridden governments, but only if the 17-nation eurozone first adopts “a new fiscal compact” to control the spending of individual countries. Bank President Mario Draghi said Thursday that more centralized oversight of budgets was “the most important element” […]
China Manufacturing Contracts In November
Posted December 1st, 2011 at 10:35 am (UTC-5)
Manufacturing activity in China contracted in November for the first time in nearly three years, as countries around the world, struggling with debt and slowing growth, bought fewer Chinese exports. The China Federation of Logistics and Purchasing says its monthly purchasing managers index (PMI) fell to 49 in November compared to 51 in October. It […]
US Jobless Claims Rise
Posted December 1st, 2011 at 9:55 am (UTC-5)
The number of people signing up for unemployment compensation rose slightly last week in the United States, a sign that the labor market remains troubled. Thursday’s report from the Labor Department says new jobless claims rose 6,000 to a nationwide total of 402,000. On Friday, government experts will publish the latest unemployment data, which is […]
China Manufacturing Contracts In November
Posted December 1st, 2011 at 8:15 am (UTC-5)
Manufacturing activity in China contracted in November for the first time in nearly three years, as countries around the world, struggling with debt and slowing growth, bought fewer Chinese exports. The China Federation of Logistics and Purchasing says its monthly purchasing managers index (PMI) fell to 49 in October. It is the first contraction since […]
Asian Stocks Surge After Global Central Bank Action
Posted December 1st, 2011 at 5:25 am (UTC-5)
Stock markets in Asia soared Thursday, continuing a global rally after the world’s major central banks took coordinated steps to support Europe’s troubled economy. Shares in Japan’s Nikkei average closed up nearly two percent, while Hong Kong’s Hang Sang Index surged more than 5.5 percent. Those followed gains Wednesday of more than three percent at […]
Key Central Banks Act to Support Global Financial System; Stocks Surge
Posted November 30th, 2011 at 2:00 pm (UTC-5)
The world’s major central banks took coordinated action Wednesday to support the global financial system, sending stock markets soaring. The U.S. Federal Reserve, the European Central Bank, the Bank of England and the central banks in Japan, Canada and Switzerland said that starting next Monday they are making it a half percentage point cheaper […]
China Central Bank to Ease Lending Restrictions
Posted November 30th, 2011 at 12:20 pm (UTC-5)
China’s central bank has announced plans to lower reserve requirements for the country’s banks. The bank said Wednesday that it will reduce the amount of money banks must hold as reserves by half a percent starting December fifth. China’s state-run Xinhua news agency says the cut is the first of its kind since December 2008. […]
Key Central Banks Act to Support Global Financial System
Posted November 30th, 2011 at 10:40 am (UTC-5)
The world’s major central banks took coordinated action Wednesday to support the global financial system, an effort aimed at boosting economic activity to avert a new recession. The U.S. Federal Reserve, the European Central Bank, the Bank of England and the central banks in Japan, Canada and Switzerland all said that starting next Monday they […]
