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Asian stocks continued to fall on Friday in reaction to the debt problem at Dubai World. AFP/CNA reports :
Hong Kong shares tumbled almost five percent on Friday, leading falls in Asian stock markets as investors were spooked after Dubai asked for a debt repayment delay for a key state-owned ...
Stocks
On Wednesday, Dubai World announced that it was trying to delay its debt payments. From Reuters :
Dubai will ask creditors of two of its flagship firms for a standstill on debt worth billions of dollars as a first step towards restructuring Dubai World, the conglomerate which spearheaded the ...
Stocks
The economic data from the US on Wednesday were mostly positive. Bloomberg reports :
Consumer spending and sales of new homes climbed more than forecast while claims for jobless benefits dropped to the lowest level in a year, putting the U.S. economy on stronger footing heading into 2010.
...
Stocks
The US economy grew less in the third quarter than previously estimated. Reuters reports :
In its second estimate of third quarter gross domestic product published on Tuesday, the Commerce Department said the economy expanded at a 2.8 percent annual rate, probably ending the most painful ...
Government
Michael Bloomberg
Investors showed on Monday that their appetites for risk remain undiminished. From Bloomberg :
Stocks rose around the world and the dollar and the yen fell as sales of U.S. homes increased more than forecast and speculation grew that central banks will keep interest rates near record lows. ...
Stocks
Dow Jones & Company
Inflation in the United States and other major economies appear to be accelerating again. However, for the time being, central banks are unlikely to get too alarmed.
In a speech to the Economic Club of New York last week, Federal Reserve chairman Ben Bernanke reiterated the Fed's view that ...
Currencies
Inflation
Move Inc.
Bloomberg reports the Bank of Japan’s monetary policy decision on Friday.
The Bank of Japan kept interest rates near zero and raised its economic assessment even as government pressure for it to fight deflation intensified.
Governor Masaaki Shirakawa and his colleagues held the overnight ...
Stocks
Deflation
Bank of Japan
Michael Bloomberg
The OECD has raised its economic growth forecast for its members. From Bloomberg on Thursday:
The Organization for Economic Cooperation and Development doubled its growth forecast for the leading developed economies next year and predicted a further acceleration in 2011 as China powers a ...
Stocks
As the economic recovery gets underway, inflation is also making a comeback.
MarketWatch reports that US consumer prices accelerated in October.
The consumer price index increased a seasonally adjusted 0.3% in October as energy prices increased for the fifth time in six months to offset ...
Currencies
Housing Market
Inflation
Tuesday's US economic data were weaker than expected. From Bloomberg :
Industrial production and wholesale prices in the U.S. rose less than forecast in October, giving the Federal Reserve more reason to keep interest rates near a record low for an “extended period.”
Total output rose 0.1 ...
Government
Federal Reserve
US retail sales are holding up. From Bloomberg :
Retail sales in the U.S. rebounded more than forecast as demand for autos climbed, and a regional gauge of manufacturing showed expansion for a fourth month, easing concern the recovery will cool after government incentives end.
Purchases ...
Stocks
Retail Industry
Meredith Whitney
Japan's economy managed to expand again in the third quarter.
The Cabinet Office reported today that Japan's gross domestic product increased 1.2 percent in the third quarter. This was the second consecutive quarter of expansion after the economy had grown 0.7 percent in the second quarter. ...
Other
Gross Domestic Product
From Bloomberg :
The euro-area economy emerged from its worst recession since World War II in the third quarter as exports from Germany and France helped compensate for households’ reluctance to increase spending.
Gross domestic product in the economy of the 16 nations using the euro rose ...
Government
Gross Domestic Product
It is not just the US that has a problem with the renminbi's peg to the US dollar. From Bloomberg :
President Barack Obama may find on his Asian visit that began today that discontent about China’s currency peg to the dollar isn’t confined to Washington’s lawmakers and business lobbyists.
...
Government
China reported a strong set of economic numbers on Wednesday. From AFP/CNA :
China said Wednesday that massive government spending was paying off as a new wave of data showed the world's third-largest economy continued to strengthen, following the worst global crisis in decades.
...
Stocks
Bloomberg reports some good news for the Japanese economy today in the form of higher machinery orders .
Orders for Japanese machinery rose more than economists estimated in September, signaling that a recovery in corporate profits may be encouraging firms to start spending on plant and ...
Government
Michael Bloomberg
Markets rallied strongly on Monday. Bloomberg reports :
U.S. stocks extended a global rally, sending the Dow Jones Industrial Average to a 13-month high, and the dollar slid after the Group of 20 nations agreed to maintain economic stimulus efforts. Commodities climbed, with gold reaching a ...
Government
Michael Bloomberg
The global economic recovery is likely to continue over the next few months although employment in the United States is continuing to contract.
On Friday, most economists focused their attention on the US employment report. This report was somewhat of a disappointment, with employment ...
Other
US unemployment continued to rise in October. Bloomberg reports :
The unemployment rate in the U.S. jumped to 10.2 percent in October, the highest level since 1983, casting a pall over the prospects for a sustained recovery and risking further erosion of President Barack Obama’s popularity. ...
Government
Unemployment
Michael Bloomberg
The ECB is preparing to unwind its emergency programmes. Bloomberg reports :
The European Central Bank took its first step toward removing emergency stimulus measures designed to haul its economy out of recession, saying it won’t offer commercial banks 12-month loans next year.
“Not all ...
