The U.S. economy grew more slowly than first thought in April, May, and June, increasing concerns that the world’s largest economy could slide back into recession. Friday’s report from the Commerce Department says the economy expanded at a 1 percent annual rate in the second quarter. That is even slower than the meager 1.3 percent […]
US Economy Grows More Slowly Than First Thought
Posted August 26th, 2011 at 9:00 am (UTC-5)
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India’s Central Bank Warns Inflation Will Slow Growth
Posted August 25th, 2011 at 2:25 pm (UTC-5)
India’s central bank is warning that the country’s high inflation rate is likely to slow economic growth. High food prices and hikes in fuel costs have hiked India’s inflation rate to more than 9 percent. The assessment came Thursday in the Reserve Bank of India’s annual report, which predicted inflation will remain high for some […]
US Layoffs Increase Slightly
Posted August 25th, 2011 at 9:50 am (UTC-5)
The number of Americans signing up for unemployment compensation rose slightly last week, boosted in part by a strike at a communications company. Thursday’s report from the Labor Department says jobless claims rose by 5,000 to a nationwide total of 417,000. Some experts say without the strike at Verizon Communications the total number of layoffs […]
France Unveils Austerity Package, Cuts Growth Forecast
Posted August 24th, 2011 at 5:05 pm (UTC-5)
France has unveiled a package of austerity measures aimed at reducing the budget deficit by about $17 billion in two years. Prime Minister Francois Fillon announced the measures Wednesday, saying they are dictated by the slower economic growth. The government revised its growth forecast for 2011 to 1.75 percent from 2 percent. Mr. Fillon said […]
(( Title: GLOBAL MARKETS 2ND UPD
Posted August 24th, 2011 at 10:45 am (UTC-5)
Orders for aircraft and autos boosted demand for U.S. manufactured goods in July. Wednesday’s report from the Commerce Department says “durable goods” orders jumped 4 percent for the month, a big change from the previous month’s decline. The gains were partly due to automakers overcoming the shortage of parts from Japanese factories damaged by the […]
US Factory Sector Rises
Posted August 24th, 2011 at 9:05 am (UTC-5)
Orders for aircraft and autos boosted demand for long-lasting U.S. manufactured goods in July. Wednesday’s report from the Commerce Department says “durable goods” orders jumped 4 percent for the month, a big change from the previous month’s decline. The gains were partly due to automakers overcoming the shortage of parts from Japanese factories damaged by […]
Japanese Bond Market Brushes Off Downgrade by Moody’s
Posted August 24th, 2011 at 12:15 am (UTC-5)
Japanese Finance Minister Yoshihiko Noda says confidence in the country’s economy “will not be shaken” by an international credit agency’s downgrade of Japanese debt. Bond markets were stable after the downgrade earlier Wednesday, and traders said the action was not a surprise. International agency Moody’s said it was downgrading Japan’s debt rating by one notch, […]
A Mixed US Economy: Banks Strengthen, New Home Sales Fall
Posted August 23rd, 2011 at 12:10 pm (UTC-5)
Two new reports Tuesday give a decidedly mixed view of the U.S. economy, with fewer banks in the country at risk of failing, but a housing market that is stuck in a pronounced slump. The government agency that insures the safety of consumers’ bank deposits said there were 23 fewer banks at risk in the […]
Markets Watching Bernanke
Posted August 22nd, 2011 at 1:30 pm (UTC-5)
Recent weak economic data and wild swings on the stock market mean investors will be watching even more closely than usual when the head of the U.S. central bank gives an economic policy speech on Friday. Federal Reserve Chairman Ben Bernanke and his colleagues said earlier this month that economic growth is slower than expected, […]
Germany Is Trimming Its Deficit Faster Than Expected
Posted August 22nd, 2011 at 1:30 pm (UTC-5)
Germany, with Europe’s biggest economy, says it is balancing its budget faster than expected. The German government says it expects its budget deficit to be cut to 1.5 percent this year, two years earlier than required by the European Union, and that its budget will be balanced by 2014. The deficit reached 3.3 percent last […]
