Incomes dropped slightly in the United States in August, the first decline in about two years. Friday’s report from the Commerce Department says consumers saved less and boosted spending slightly. Economists watch consumer income and spending closely because consumer demand drives most U.S. economic activity. Consumer spending has been hampered by high unemployment, stagnant wages, […]
Greek, French Leaders to Discuss Greek Financial Crisis
Posted September 30th, 2011 at 5:25 am (UTC-5)
Greek Prime Minister George Papandreou plans to meet with French President Nicolas Sarkozy in Paris Friday for talks on Greece’s financial crisis. Their meeting comes as auditors from the International Monetary Fund, European Central Bank and European Union are in Athens looking at Greek efforts to slash its huge debt. The inspectors will recommend whether […]
New Zealand Credit Rating Downgraded
Posted September 30th, 2011 at 4:50 am (UTC-5)
Two of the world’s three major credit rating agencies downgraded New Zealand’s credit rating Friday amid concerns about high debt burdens. Fitch and Standard and Poor’s both downgraded New Zealand from an AA-Plus to AA. The downgrade caused the New Zealand dollar to slide 1.5 percent. New Zealand Finance Minister Bill English defended the country’s […]
Japan Boosts Intervention Funds
Posted September 30th, 2011 at 4:05 am (UTC-5)
Japan’s finance minister said Friday that Tokyo will reserve another $195 billion in funds for currency intervention to respond to the yen’s upward trend. Jun Azumi added that the finance ministry will require currency traders to report daily their trading positions for another three months beyond the end of September in an effort to deter […]
Survey Says China’s Manufacturing Stagnant
Posted September 30th, 2011 at 4:00 am (UTC-5)
A leading bank survey indicates that China’s manufacturing sector remained stagnant for a third consecutive month in September because of sluggish domestic and international demand. British banking giant HSBC said its monthly purchasing managers index for September was steady at 49.9 on a 100-point scale on which numbers below 50 show activity contracting. The figure […]
German Parliament Approves Increase in Bailout Fund
Posted September 29th, 2011 at 2:45 pm (UTC-5)
German lawmakers have approved a bill to increase the size of a bailout fund for struggling eurozone countries. The lower house of parliament voted to expand the fund to $593 billion on Thursday. The vote was seen as a key test of German Chancellor Angela Merkel’s center-right coalition. The $593 billion figure was agreed to […]
German Parliament Approves Bill to Increase Bailout Fund
Posted September 29th, 2011 at 12:51 pm (UTC-5)
German lawmakers have approved a bill to increase the size of a bailout fund for struggling eurozone countries. The lower house of parliament voted to expand the fund to $593 billion on Thursday. The vote was seen as a key test of German Chancellor Angela Merkel’s center-right coalition. The $593 billion figure was agreed to […]
US Economy Grew Slightly Faster in Second Quarter
Posted September 29th, 2011 at 10:00 am (UTC-5)
The U.S. government says the country’s sluggish economy grew a bit faster than first estimated in the second quarter of the year, but still not fast enough to reduce the country’s high unemployment rate. The government said Thursday that the nation’s economic output advanced 1.3 percent in the April-to-June period, up from the previous estimate […]
US Economy Grew Slightly Faster in Second Quarter
Posted September 29th, 2011 at 10:00 am (UTC-5)
The U.S. government says the country’s sluggish economy grew a bit faster than first estimated in the second quarter of the year, but still not fast enough to reduce the country’s high unemployment rate. The government said Thursday that the nation’s economic output advanced 1.3 percent in the April-to-June period, up from the previous estimate […]
US Economy Grew Slightly Faster in Second Quarter
Posted September 29th, 2011 at 9:10 am (UTC-5)
The U.S. government says the sluggish economy grew a bit faster than first estimated in the second quarter of the year, but still not fast enough to reduce the country’s high unemployment rate. The government said Thursday that the nation’s economic output advanced 1.3 percent in the April-to-June period, up from the previous estimate of […]
