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by Jack MOORE Agence France Presse Russia’s war in Ukraine poses the greatest threat to the global economy, US Treasury Secretary Janet Yellen said Thursday as G20 ministers prepare to start talks in Indonesia. Moscow’s invasion has sent inflation soaring at a time when the world is struggling to recover from the Covid-19 pandemic, endangering the gains of the past two years and threatening widespread hunger and poverty. “Our greatest challenge today comes from […]
NEW YORK, United States (AFP) — Global stocks mostly rose Thursday, with positive sentiment on US-China trade talks offsetting disappointing holiday sales from some US retailers. China said that trade talks in Beijing with a US negotiating team had “laid the foundation” to resolve concerns held by both sides in a bruising trade war, essentially echoing upbeat comments from US officials the prior day. Discussions between US and Chinese officials to find a way out […]
TOKYO, Japan (AFP) — Asian shares drifted marginally higher on Tuesday following another volatile session on Wall Street but a perfect storm of risks hovering over the global economy curbed investors’ enthusiasm. Hong Kong’s benchmark Hang Seng market led the gains, rising by half a percentage point, while equities in Japan scraped into positive territory after suffering stiff losses the previous day. Chinese stocks opened essentially flat while markets in Australia and South Korea were […]
by Michel COMTE Agence France-Presse OTTAWA, Canada (AFP) — Canada hopes the upcoming G7 summit it is hosting will serve as a springboard for fresh ideas on key issues including climate change, the global economy and security, the lead organizer told AFP. “The G7 serves well as a proving or testing ground for discussions that could eventually go into the G20 or the United Nations or international financial institutions,” Peter Boehm, Canadian Prime Minister Justin […]
TOKYO, Japan (AFP) — World leaders kick off two days of G7 talks in Japan Thursday with the creaky global economy, terrorism, refugees, China’s controversial maritime claims, and a possible Brexit headlining their packed agenda. Heads of state and government from the United States, Britain, France, Germany, Italy, Canada and host Japan are meeting in Ise Shima, a mountainous, sparsely populated area about 300 kilometres (200 miles) southwest of Tokyo. The group, including US president […]
NEW YORK, United States (AFP) — The global stock rally showed signs of petering out Thursday as oil prices stagnated and analysts expressed worry that another bout of selling could be imminent. After three straight days of solid gains, US stocks closed lower, with the Nasdaq down the most at 1.0 percent. London also lost 1.0 percent with metals and oil equities falling sharply after Wednesday’s bounce. Frankfurt gained 0.9 percent, while Paris edged up […]
Asian equities were subdued on Friday (February 5) and the dollar wobbled ahead of the closely watched U.S. jobs report, which could provide clues on the Federal Reserve’s monetary policy outlook. The markets will look to the U.S. jobs data for direction, with the employment report expected to how employers adding 190,000 jobs in January, the median estimate of 108 economists polled by Reuters. Japan’s benchmark Nikkei stock average was down 1 percent despite an […]
Russians gathered outside banks and closed restaurants on Wednesday (January 20) demanding foreign currency mortgages to be restructured and salaries paid, as the national currency hit the new record low. Employees flocked to the closed doors of the Sbarro pizza restaurant, holding flags and banners calling on the owners to pay them. Sergei, one of the protesters, explained that he and his colleagues have not received money for their work in a while. “The salary […]
Japan’s Nikkei share average tumbled 4 percent on Thursday (January 14) morning after Wall Street languished on worries about weak oil prices and a slowdown in the global economy, battering global cyclical stocks such as exporters. The Nikkei 225 stumbled 3.7 percent to 17,063.21 in mid-morning trade after hitting as low as 17,004.12, the lowest since late September of 2015. If the benchmark index falls below 16,901.49, an intraday low marked on September 29, 2015 […]
When the world heats up, economies around the globe will cool down. That’s according to a new study which predicts that rising temperatures due to climate change will wreak havoc on economic output. “Our best estimate is that the global economy as a whole will be 23 percent smaller in 2100 than if we would avoid climate change entirely,” said co-author of the study Solomon Hsiang, an associate professor of public policy at the University […]
