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by Heather SCOTT Agence France Presse WASHINGTON, United States (AFP) — No US economists believe the Federal Reserve will raise the all-important benchmark interest rate on Thursday but they are watching closely for any signals about how concerned the central bankers are about rising prices. With the economy growing strongly and wages at long last starting to increase after years of robust job creation, central bank officials are wary the economy could overheat. Investors will […]
by Douglas Gillison Agence France Presse WASHINGTON, United States (AFP) — The US economic engine delivered another jolt of good news as Republicans battle to maintain control of Congress in next week’s midterm elections, churning out jobs and giving workers a fat pay bump, government data showed Friday. The economy brushed past Hurricane Michael, adding 250,000 net new positions in October and handily overshooting forecasts, while salaries rose at the fastest pace in nearly […]
PARIS, France (AFP) — Global use of raw materials is expected to double by 2060, “placing twice the pressure on the environment” than at present, according to an OECD study released on Monday. The study “sees global materials use rising to 167 gigatonnes in 2060 from 90 gigatonnes today,” the Organisation for Economic Cooperation and Development, a group of advanced economies, said. It gave increases in population, economic activity and living standards around the world […]
TOKYO, Japan (AFP) — Prices in Japan inched up by one percent in September, according to government data published Friday, as the world’s third-largest economy continues its years-long struggle with deflation. Inflation stood at one percent year-on-year in September, the first time it had reached that level since February, but still only halfway to the Bank of Japan’s two-percent target. The latest figure was in line with market consensus, and slightly higher than the 0.9 […]
by John BIERS Agence France Presse NEW YORK, United States (AFP) — Wall Street stocks plummeted Wednesday as worries about surging US interest rates and the impact of trade disputes prompted a broad-based selloff that slashed more than three percent from major indices. The rout in US shares came on the heels of substantial losses on European bourses, due in part to tensions between Brussels and Rome over Italian budget plans that have revived fears […]
HONG KONG, China (AFP) — Asian stocks began Wednesday mixed after a volatile session for US equities and as yields on Treasury bonds retreated from a seven-year peak. Japanese shares opened higher after four days of losses — with purchases making up for the higher yen’s dampening impact — before dropping back into negative territory in mid-morning trade. “After four days of falling… Japanese shares are in a good place for bargain-hunting buys, even though […]
by Douglas Gillison Agence France Presse WASHINGTON, United States (AFP) — A severe recession would slash US public wealth by about $5 trillion, causing vastly more damage to Washington’s finances than just an increase in debt and deficits, the IMF warned Tuesday. Yet governments around the world, many of which face similar dangers, do not clearly publicize their overall net worths, the International Monetary Fund said in a new report. This creates a potential blind […]
NEW YORK, United States (AFP) — Global stocks finished mixed Tuesday following a meandering session amid lingering worries over higher interest rates as the IMF cut its global growth forecast. Investors have been nervous since the yield on 10-year US Treasury bonds surged above 3.0 percent. The advance followed a stream of strong US economic data that was seen as boosting the likelihood that the Federal Reserve will persist in raising interest rates. Yields continued […]
by Heather SCOTT Agence France Presse WASHINGTON, United States (AFP) — An upswing in economic risks due to rising trade tensions and debt levels has prompted the International Monetary Fund to cut its forecast for world growth for this year and next. With trade growth set to slow sharply amid a trade war between the United States and China, the IMF cut its outlook for global GDP by two-tenths to 3.7 percent for 2018 and […]
by Douglas Gillison Agence France Presse WASHINGTON, United States (AFP) — The US jobless rate tumbled in September to its lowest level since December 1969, even as job creation slowed, likely due in part to Hurricane Florence, the government reported Friday. A month ahead of hard-fought congressional elections, the result was sure to delight US President Donald Trump, who has eagerly taken credit for America’s extended run of economic expansion even as his Republican […]
SEOUL, South Korea (AFP) — The chairman of South Korean retail giant Lotte Group was released from jail on Friday after an appeals court suspended four years his sentence in a massive corruption scandal that brought down former president Park Geun-hye. Shin Dong-bin, 63, was jailed for 30 months in February for providing seven billion won ($6.2 million) to a foundation controlled by Park’s secret confidante in return for state favours regarding Lotte’s duty-free […]
SYDNEY, Australia (AFP) — Australia’s central bank held interest rates at a record low on Tuesday even as the economy grows strongly, with officials taking into account soft inflation figures and weak wages growth. The cash rate has been unchanged at 1.50 percent since the Reserve Bank of Australia last cut it in August 2016, to support non-mining industries as an unprecedented investment in resources waned. “The low level of interest rates is continuing to […]
