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UK inflation rises to 2.7pc in May pushed by higher transport cost

Tue, 18 Jun 2013 17:12:21 -0400

LONDON - The consumer price index (CPI) inflation increased to 2.7% in May, up from 2.4% in April, mainly due to higher fuel costs pushing up transportation costs particularly airfares, the Office for National Statistics (ONS) said Tuesday. The ONS said the rise was due to a record increase in airfares and higher fuel prices. "The inflation rate has returned to the levels seen between ...

Community radio reporters acting as climate change communication agents in Central India

Wed, 19 Jun 2013 03:20:02 -0400

Climate change is real. For an emerging economy like India with a large population directly dependent on natural resources for their sustenance, the changing climate is causing severe economic, environmental and social challenges. Bundelkhand, a semi - arid region comprising of 13 districts in the states of Madhya Pradesh and Uttar Pradesh is one of the most climate sensitive areas in India. ...

Abu Dhabis non-oil output expands as economy reduces dependence on crude

Wed, 19 Jun 2013 12:29:12 -0400

Abu Dhabi's non-oil economy grew close to 10 per cent last year, according to the emirate's statistics agency. Faster activity across areas including property, education, professional services and trade led the rise in growth, Statistics Centre Abu Dhabi (Scad) said yesterday. Non-oil output rose by 9.6 per cent at current prices, compared to 7.7 per cent expansion across the overall ...

Depression expected to become storm

Wed, 19 Jun 2013 12:13:42 -0400

MIAMI - Forecasters say a tropical depression crossing Mexico's Bay of Campeche is getting better organized and is expected to become a tropical storm before making landfall along Mexico's Gulf ...

Bold themes for the 2014 International Summit of Cooperatives

Wed, 19 Jun 2013 12:10:22 -0400

June 19, 2013 /CNW Telbec/ - The 2014 International Summit of Cooperatives has announced its major program themes. These ambitious, bold themes will garner the attention and interest of cooperatives from every sector of the global economy as well as world leaders and ...

Youre a Parasite The Stark Morals of James Agees Great Depression Essay

Wed, 19 Jun 2013 11:58:54 -0400

In 1936, Fortune magazine sent James Agee and Walker Evans--then young men, 26 and 32 years old--to report on Alabaman cotton farmers. These well-bred southern boys turned art-crowd New Yorkers lived for two months alongside indebted sharecroppers. John Jeremiah ...

Tropical Depression Flooding Risk Continues for Mexico

Wed, 19 Jun 2013 11:58:13 -0400

AccuWeather.com reports a slow-moving tropical depression will continue to bring torrential rainfall and the risk of flooding to parts of southeastern Mexico, Belize and Guatemala into midweek. Because the system's forward speed has slowed and much of its circulation was over land, it could unravel. The system is forecast to track near the coast of the Mexico states of Tabasco and Veracruz ...

Tsunami forces Maldives election delay set to hit economy hard

Wed, 19 Jun 2013 11:51:55 -0400

The killer tsunami that battered the Maldives has forced the postponement of parliamentary elections, the government said Tuesday, warning the atoll island nation's tourist-based economy would be hit hard by the disaster.Chief government spokesperson Ahmed Shaheed said the economic damage to the atoll island nation was estimated at more than 1.3 billion dollars, or twice the tiny Indian ...

Greek economy in dire need of reforms

Wed, 19 Jun 2013 11:48:03 -0400

Greece is in need of radical reforms to its pension system if it is to cease being a burden on longer-term fiscal sustainability, and to prevent a rise in pension costs that would otherwise see these accounting for more than 20 per cent of GDP by 2050, warns the Organisation for Economic Co-operation and Development (OECD). In ...

Seychelles from recession to new boom

Wed, 19 Jun 2013 11:45:42 -0400

Already early this year, the Seychelles economy showed it had recovered from last year's recession through tough reform programmes. Now, new figures show the Indian Ocean state is entering a ...

How to Invest in the Feds Slow-Growing Economy

Wed, 19 Jun 2013 11:19:31 -0400

What if the "breakout" economy does not deliver faster growth and the "new normal" of slow growth and ultra-low interest rates is here to stay? Kevin O'Brien, who manages the Prospector Opportunity fund, says he sees "a lot more reasons" to believe the economy will maintain the status quo for some time to ...

At the open TSX dips ahead of Federal Reserve policy statement

Wed, 19 Jun 2013 11:17:49 -0400

Chairman of the U.S. Federal Reserve Ben Bernanke is seen on a monitor via teleconference in Chicago, May 10, 2012. Market players will be watching intently this week for clues that the Fed is about to begin scaling back its huge monetary stimulus, a key support of stock and bond prices. (JIM ...

U.S. home builders ask Where have all the carpenters gone

Wed, 19 Jun 2013 11:17:40 -0400

Where have all the carpenters gone? Home builders across the United States are scratching their heads for an answer as they struggle to assemble crews to keep up with growing demand.In some parts of the country, the shortage of skilled carpenters - especially framers - is so bad that builders cannot get projects off the ground and it is taking as much as two months longer than normal to complete ...

Anxiety or depression affects nearly one in five UK adults

Wed, 19 Jun 2013 11:08:44 -0400

Office for National Statistics (ONS) said a higher proportion of women than men reported that they suffered from the conditions, with the highest indication of anxiety or depression occurring in the 50-54 age group.There was evidence of anxiety or depression in 19% of people aged 16 or over, with 21% of women reporting the symptoms and 16% of men.People who were divorced or separated were more ...

Fracking Nigeria Economy On The Bed Of Shale By Ehi Oyabure

Wed, 19 Jun 2013 11:00:29 -0400

The outcome of last OPEC meeting held in Vienna, Austria on the 31st of May 2013 was an unexpected departure from the past, openly admitting for the first time, the threat to its dominance in global oil supplies – hydraulic fracturing and horizontal drilling. Fracking is indisputably changing the geopolitical dynamics of global energy supplies and challenging the survival of oil export ...

Improve Immigrant Outcomes Before Increasing Inflows C.D. Howe Institute

Wed, 19 Jun 2013 10:59:28 -0400

Canada should focus on improving immigrants' labour market outcomes through reforms to the selection process, according to a report released today by the C.D. Howe Institute. In "Improving Immigrant Selection: Further Changes Are Required Before Increasing Inflows," author Christopher Worswick cites recent evidence of poor outcomes for recent immigrants that raise a caution ...

Zephyr drills 20.4 gt gold over 4.7 m on its Dawson property in Colorado

Wed, 19 Jun 2013 10:59:28 -0400

June 19, 2013 /CNW/ - Zephyr Minerals Ltd. ("Zephyr") (TSXV: ZFR) is pleased to announce results for the final 6 holes of a 13 hole diamond drill program on the Windy Gulch zone of the Dawson gold project in Colorado, U.S.A. The 580 meter drill program was successful in both confirming historic drill results as well as expanding on historic drilling which identified an at surface ...

Most of Atlantic Canada set for modest economic growth in 2013 RBC Economics

Wed, 19 Jun 2013 10:59:27 -0400

June 19, 2013 /CNW/ - Atlantic Canada's overall economic growth is picking up pace compared to 2012, buoyed in large part by an exceptionally strong performance from Newfoundland and Labrador, according to the ...

Palestinian tobacco faces threat from crackdown on black economy

Wed, 19 Jun 2013 10:53:07 -0400

YA'ABAD, West Bank (Reuters) - Palestinian farmers sow tobacco sprouts in the rocky earth of the northern West Bank, reaping a harvest that provides a reliable livelihood in the struggling occupied ...

Immigration reform bill would boost economy and cut deficit report says

Wed, 19 Jun 2013 10:49:21 -0400

Supporters of a far-reaching immigration bill in the Senate see fresh momentum from a report by the Congressional Budget Office that says the measure would boost the economy and reduce federal deficits by billions of dollars.Congress's non-partisan scorekeeping agency said Tuesday that the immigration bill would decrease federal red ink by $197bn over a decade and $700bn in the following 10 ...

UPDATE 3-Russian cbank head in parting shot warns on inflation

Wed, 19 Jun 2013 10:12:24 -0400

Wed Jun 19, 2013 10:12am EDT * Growth push should jeopardise price stability - Ignatyev * Veteran central banker stepping down * FinMin backs weaker rouble to boost revenues, growth (Adds Kremlin comment) By Maya Dyakina MOSCOW, June 19 (Reuters) - The Russian central bank's departing chairman sought on Wednesday to anchor his inflation-fighting legacy, warning of the risks to price ...

Wholesale sales rose 0.2 per cent in April

Wed, 19 Jun 2013 10:07:10 -0400

A man pushes a trolley full of Dell computers in this file photo. Statscan says April wholesale sales rose 0.2 per cent in April, helped by computer sales. ...

Loonie advances as traders look to Fed statement Poloz speech

Wed, 19 Jun 2013 10:07:09 -0400

The Canadian dollar was slightly higher Wednesday ahead of the mid-afternoon release of the U.S. Federal Reserve's latest policy statement and economic projections.It is hoped the Fed will shed some light on what it intends to do about curbing some of its economic stimulus.The loonie was up 0.06 of a cent (U.S.) to 98.02 cents as markets also looked to a speech later in the day by Bank of ...

Why low inflation may not prevent the Fed from reducing QE

Wed, 19 Jun 2013 10:00:43 -0400

Everybody knows U.S. unemployment, currently at 7.6%, is still too high especially the millions of Americans struggling to find work. Less widely acknowledged is a recent dip in inflation that puts it well below the Federal Reserves 2 percent target. Indeed, at 0.7 percent in April, the Feds preferred inflation measure was less than half of the central banks explicitly stated goal. So why are ...

Behind The Mic With Joe Mathieu Interest Rates Going Up

Wed, 19 Jun 2013 09:52:01 -0400

BOSTON (CBS) – The rebounding housing market has a lot to do with the lowest interest rates in generations. But that could change when the Federal Reserve wraps a 2-day meeting Wednesday afternoon. Nothing gets me excited like a good Fed meeting. Brings out my inner wonk. And while this can be pretty dry stuff you should pay attention because this it affects all of us. The Fed has been ...

New home sales remain low in May

Wed, 19 Jun 2013 09:48:58 -0400

June 19, 2013 /CNW/ - Reduced affordability in the GTA's new homes market continues to impair sales, the Building Industry and Land Development Association announced today. According to ...

Economy picking up steam Royal Bank says

Wed, 19 Jun 2013 09:47:33 -0400

'Stronger demand for autos, houses and industrial machinery from the U.S. will help sustain the lift in export growth that Canada experienced so far this year for the remainder of 2013,' Royal Bank says. ...

Construction outlays rise in Europe

Wed, 19 Jun 2013 09:45:56 -0400

Construction spending rose modestly in the eurozone from March to April, the European Union's statistical office Eurostat said Wednesday. Spending rose 2 percent in the 17-member currency region and 0.9 percent in the 27-member European Union, Eurostat said. With the economy in a prolonged recession in Europe, construction spending had been on a five-month decline. In March, in a revised ...

The simple case for some moderate sensible inflation

Wed, 19 Jun 2013 09:41:29 -0400

I was in Brazil in the early 1990s, when annual inflation topped 2,000 percent and Brazilians spent their entire paychecks as soon as they got them, buying a month's worth of food and other supplies before their money lost most of its value. When I moved there a few years later, inflation had been "tamed" to some 16 percent. But you couldn't buy oranges at the supermarket in ...

Finnish economy to shrink 0.4 this year ministry

Wed, 19 Jun 2013 09:34:48 -0400

Finnish government said on Wednesday, revising downwards its forecast from March which predicted growth of 0.4 per cent. A report from the economy ministry said the expected slowdown was mainly due to the "economic situation in the eurozone" and "weak growth in global trade." The ministry said it expected the economy to pick up around the end of the year, and ...

Malawi Malawis Economy Is Recovering - World Bank

Wed, 19 Jun 2013 09:33:00 -0400

Lilongwe - The World Bank says Malawi's economy is recovering with official figures' estimates showing an expected growth of 5.7 percent in agriculture and more than 6 percent growth in manufacturing. The Bank disclosed this on Tuesday evening when its highly powered delegation of more than 10 officials had audience with President Dr. Joyce Banda at Kamuzu Palace in Lilongwe to present ...

UCITS damaged by recession but outlook remains positive

Wed, 19 Jun 2013 09:29:06 -0400

Cross-border UCITS in Europe suffered in 2008 due to the financial crisis, with EUR 20.8bn of total net outflows sourced in Europe. The European Fund and Asset Management Association (EFAMA) published the results of its second survey on cross-border UCITS’s success in Europe, Asia and other parts of the world, questioning 22 fund groups with combined assets of EUR 472bn invested in ...

Swiss economy still suffering

Wed, 19 Jun 2013 09:29:02 -0400

The prospects for the Swiss economy have changed marginally in the latest Financial Market Test Switzerland, conducted by Credit Suisse in cooperation with the Centre for European Economic Research (ZEW). The Credit Suisse ZEW indicator of economic expectations crawled up by a mere 0.6 points to the -57.1 mark, and 65.3 per cent of financial market experts forecast further deterioration of ...

Recession looms for Swiss economy

Wed, 19 Jun 2013 09:28:51 -0400

The Swiss economy is set to slide into recession in 2009, predict experts at Credit Suisse. Switzerland’s real economy finally felt the full force of the financial crisis in late 2008. Previous to this, the country had held up considerably better than that of other industrialised nations, but economists fear that Switzerland’s gross domestic product (GDP) could decline by 0.6 ...

Swiss economy will neither boom nor bust

Wed, 19 Jun 2013 09:28:33 -0400

The Swiss economy is expected to neither boom nor go bust in 2009, according to economists at Credit Suisse. Thus far, the Swiss economy has proven to be robust, and although the current economic climate has had a negative impact on perception, it has had little reflection in the economic data. Economists say that the Swiss economy, despite seeing economic growth below its potential, will ...

Kids Count report Americas children are advancing despite the economy

Wed, 19 Jun 2013 09:27:23 -0400

The widely-watched Kids Count annual survey on the state of America's children shows gains in health and education despite the poor economy. But advocates say raised poverty rates merit more attention from ...

British Columbians not always ensuring that they are properly insured

Wed, 19 Jun 2013 08:38:46 -0400

June 19, 2013 /CNW/ - No-fault insurance, deductibles, term versus whole life insurance; are you up to snuff when it comes to the details of your insurance policies? While British Columbians are among those most likely in the country to review their insurance policies at least once a year (64% versus 55% nationally), new research from TD Insurance has found that not everyone takes the time ...

Do Ontarians have all the facts on insurance Over half wouldnt clarify details of their policies

Wed, 19 Jun 2013 08:38:45 -0400

June 19, 2013 /CNW/ - From premiums to exclusions, do you understand all the details of your insurance coverage? While the majority of Ontarians (54%) review their insurance policies at least once a year, new research from TD Insurance has found that not everyone takes the time to ensure they are properly insured. According to the State of Insurance Report, an annual report commissioned ...

Crombie REIT Announces Monthly Distribution

Wed, 19 Jun 2013 08:38:44 -0400

June 19, 2013 /CNW/ - Crombie Real Estate Investment Trust ("Crombie REIT") (TSX: CRR.UN) today announced a distribution of $0.07417 per unit for the period ...

Trade and investment to support Canadas economy in 2013 RBC Economics

Wed, 19 Jun 2013 08:38:43 -0400

June 19, 2013 /CNW/ - Canada's economy started 2013 growing at a solid clip, as energy production continued to recover and the U.S. economy proved to be more resilient to a recession than was feared, according to the ...

Era of falling interest rates appears to be over

Wed, 19 Jun 2013 08:30:01 -0400

After 3 decades in which borrowing costs mostly have declined steadily to rock-bottom levels, the long-term path of interest rates is headed up, experts ...

World Bank watching Fed ready to respond

Wed, 19 Jun 2013 08:28:41 -0400

LONDON (Reuters) - The World Bank is concerned about the spillover effects on developing countries of a slowing of U.S. money creation and will move to provide affordable capital when borrowing costs rise, its president said on ...

Spanish economy gets boost from drop in trade deficit

Wed, 19 Jun 2013 08:25:38 -0400

MADRID: Spain's trade deficit was halved in April as exports soared, especially to China and other fast-growing emerging markets, the government said Wednesday, a rare glimmer of good news for a nation struggling in a double-dip recession. Spain, with the eurozone's fourth-biggest economy, posted a deficit of 1.642 billion euros ($2.196 billion) in April compared to a deficit of 3.355 ...

Improved outlook for Gabon economy

Wed, 19 Jun 2013 08:17:01 -0400

GDP growth in Gabon 2003 to 2013 (blue line) is dependent on non-oil sector growth (red) as oil revenues (green) decline. This pessimistic 2009 forecast has now been adjusted ...

Poloz gets set for his first speech – but will anyone be watching

Wed, 19 Jun 2013 07:51:16 -0400

By happenstance or design, new Bank of Canada Governor Stephen Poloz makes his first public speech Wednesday, when the financial world's attention is riveted on another central bank chief.Ben Bernanke wraps up a two-day meeting of the U.S. Federal Reserve Board in Washington, amid speculation he will lay out a timeline for scaling back the massive amounts of liquidity the central bank is ...

Despite global economic uncertainty Canadian CFOs forecast a strong year ahead

Wed, 19 Jun 2013 07:33:55 -0400

June 19, 2013 /CNW/ - Optimism is on the rise when it comes to economic growth, according to the sixth annual American Express/CFO Research Global Business & Spending Monitor. The Monitor, a survey of senior finance executives from the ...

Men are disappearing from the workforce

Wed, 19 Jun 2013 07:32:34 -0400

In the 1950s, nearly every man in his prime working years was in the labor force, a category that includes both those who are employed and those actively applying for jobs. The "participation rate" for men ages 25 to 54 stood at 97.7% in early 1956, but drifted downward to a post-war record low of 88.4% at the end of 2012. (It ticked up very slightly at the start of this year to ...

Circular economy investment up

Wed, 19 Jun 2013 07:07:24 -0400

Workers lay solar panels on a roof at Nanjing South Railway Station. China is giving attention to reducing energy consumption in industrial production. Dong Jinlin / for China DailyThe Chinese government will double its investment in the circular economy this year to 2 billion yuan ($300 million) to support the national policies of energy conservation and emission reduction, a senior official ...

Chinas economy on track for gradual slowdown in H2 as govt reiterates policy stance

Wed, 19 Jun 2013 07:07:23 -0400

China's economy is expected to head toward a gradual slowdown in the second half of this year, as the central government has stated that it will retain its current mix of tightened economic policies.Top officials from the Political Bureau of the CPC Central Committee agreed at a Friday meeting that the country will stick to its proactive fiscal policies in the second half of this year, with ...

I will graduate with $100000 in loans

Wed, 19 Jun 2013 06:27:06 -0400

student loans, as interest rates are set to double to 6.8% from 3.4% on July 1. "It just seems to be a part of the growing American experience to go to school, graduate and work off that debt for the rest of your life," Mears ...

IMF says Spain recession may end soon

Wed, 19 Jun 2013 06:13:42 -0400

IndiGo ruled the Indian skies in May, flying almost a third (29.5%) of domestic passengers, while Jet and JetLite together were at No 2, flying 22.5% of the total ...

PH stock index dips as markets wait for US Federal Reserve meeting on bond-buying

Wed, 19 Jun 2013 06:12:36 -0400

Screengrab from http://www.pse.com.ph MANILA, Philippines -- The local stock barometer dipped on Wednesday after a three-day rebound as regional markets awaited clues on US monetary policy from an ongoing US Federal Reserve meeting. The main-share Philippine Stock Exchange index shed 5.57 points or 0.09 percent to close at 6,513.20. Mining/oil and property counters saw the steepest drop for ...

Survey African Americans Fearful Of U.S. Economy

Wed, 19 Jun 2013 05:35:36 -0400

And now another chapter in our series on African-American lives. NPR conducted a poll of African Americans with the Robert Wood Johnson Foundation and the Harvard School of Public Health. The survey found optimism but many respondents expressed fears about the ...

Benefits of financial stability still not felt in ‘real economy’

Wed, 19 Jun 2013 05:35:26 -0400

The risk of the collapse of the single currency has "disappeared" according to the EU's economics commissioner. However, he warned that benefits to the real economy were still some time off, despite some signs of recovery. Speaking at the Brussels Economic Forum on 19 June, Olli Rehn said that the fear expressed last year that the euro would "disintegrate" were no longer ...

UPDATE 1-Russian c.banks main goal is stable inflation -governor

Wed, 19 Jun 2013 05:33:03 -0400

Wed Jun 19, 2013 5:33am EDT (Recasts, adds further comment) By Maya Dyakina MOSCOW, June 19 (Reuters) - The Russian central bank's priority is to stabilise inflation, its outgoing chairman Sergei Ignatyev said on Wednesday, defending his years-long efforts to switch the bank's main policy away from managing the rouble's rate. "The main objective of the central bank's monetary ...

Consumer inflation slows to 5.6

Wed, 19 Jun 2013 05:32:09 -0400

- South Africa's headline consumer inflation slowed more than expected to 5.6 percent year-on-year in May from 5.9 percent in April, data showed on Wednesday. On a month-on-month basis, CPI stood at -0.3 percent compared with 0.4 percent in April, Statistics South Africa said. Economists had expected inflation to ease to 5.85 percent year-on-year and -0.1 percent month-on-month. - ...

Slovenias recession may last through 2014 central bank official

Wed, 19 Jun 2013 05:15:50 -0400

By Marja Novak LJUBLJANA (Reuters) - Slovenia's economy may contract in 2014 as well as 2013, a central bank official said on Wednesday, signalling the country's recession could last a year longer than the government expects. "Next year we can ...

UPDATE 1-Finlands economy set to shrink as exporters struggle

Wed, 19 Jun 2013 05:01:02 -0400

Wed Jun 19, 2013 5:01am EDT By Ritsuko Ando and Jussi Rosendahl HELSINKI, June 19 (Reuters) - Finland on Wednesday slashed the outlook for its economy, predicting it will shrink for the year, raising doubts about its reputation as one of the euro zone's healthiest economies. The forecast added to concerns that traditional industries such as paper were losing global competitiveness. The ...

UAEs oil and gas industry strengthens national economy.

Wed, 19 Jun 2013 04:59:05 -0400

WAM ABU DHABI, June 19th, 2013 (WAM): The UAE planned to increase its crude oil production capacity to 3.5 million barrels per day (bpd) by 2017 to contribute to the stability of global markets and to ensure long-term obligations with consumers, as world oil demand is expected by the national oil industry leaders to increase to 105 million bpd by 2030 and even up to 112 million bpd according to ...

Healthcare Inflation Slowing Down USA

Wed, 19 Jun 2013 04:29:25 -0400

Despite newly insured people being added to the system, American healthcare inflation is expected to fall to 6.5% in 2014, says a new report by the Health Research Institute, part of PricewaterhouseCoopers LLP. Healthcare inflation in 2014 will drop even lower than this year "Defying historical patterns", the authors wrote. Continued downward pressure is expected for the health ...

US CPI inflation reverses part of its plunge in May

Wed, 19 Jun 2013 04:08:54 -0400

US CPI inflation picked up in May, in line with expectations. The annual rate of inflation rose from 1.1% Y/Y to 1.4% Y/Y, reversing most of the previous month's plunge. Compared with April, CPI increased by 0.1% M/M, slightly less than forecast. Higher prices for energy (0.4% M/M), housing (0.3% M/M), apparel (0.2% M/M), recreation (0.2% M/M), transportation (0.1% M/M) and education (0.1% ...

Tropical Depression Two moving over southern Bay of Campeche NHC

Wed, 19 Jun 2013 03:54:50 -0400

(Reuters) - Tropical Depression Two that formed over the northwestern Caribbean Sea was moving over the southern Bay of Campeche, home to key Mexican oil operations, U.S. government forecasters said early Wednesday. The depression was located ...

Economy set for above trend growth data

Wed, 19 Jun 2013 03:29:44 -0400

New data suggests the Australian economy will be growing at an above trend pace heading into 2014, building on its outperformance of leading economies.Federal Treasurer Wayne Swan used a gathering of the world's leading countries that form the Group of Eight (G8) to highlight Australia's economic strengths since Labor came to power."We have grown substantially faster then every ...

Investors look for answers on economy from Fed

Wed, 19 Jun 2013 02:29:48 -0400

In this Wednesday, May 22, 2013 photo, Federal Reserve Chairman Ben Bernanke testifies on Capitol Hill in Washington. The Federal Reserve ends a policy meeting Wednesday, June 19, 2013. Investors have been nervously speculating that the Fed will soon scale back its economic stimulus and send interest rates up and stock prices down. (AP Photo/Manuel Balce ...

Japans exports pick up pace give economy momentum in rough markets

Wed, 19 Jun 2013 02:28:16 -0400

By Kaori Kaneko and Stanley WhiteTOKYO (Reuters) - Japan's exports rose in May at the fastest annual rate in more than two years with the help of a weak yen and a moderate pick-up in global demand, boding well for the government's efforts to steer the economy through market turbulence.The faster-than-expected rise is welcome news for Prime Minister Shinzo Abe after recent a sell-off in ...

Is Turkeys economy about to crash

Wed, 19 Jun 2013 02:25:53 -0400

expand the powers of the police." The prime minister's speech came just days after he dispatched riot police to clear demonstrators from Istanbul's Gezi Park, sparking renewed clashes in cities across the country. The violence has since subsided and demonstrators have taken to standing silently in public to express their discontent, but weeks of unrest have taken their toll on ...

Cyprus Calls for Bailout Overhaul to Save Economy

Wed, 19 Jun 2013 02:15:22 -0400

Cyprus' president has asked euro zone leaders for a complete revamp of his country's 10 billion euro ($13.4 billion) bailout, warning Nicosia may not be able to meet the rescue's current terms because it has harmed the country's economy and banking system even more than expected. In a letter sent last week and obtained by the Financial Times, Nicos Anastasiades wrote that the ...

Fed seen keeping options open on pace of bond buying

Wed, 19 Jun 2013 01:24:20 -0400

Reuters © Federal Reserve Board Chairman Ben Bernanke testifies before the Joint Economic Committee in Washington in this May 22, 2013 file photo. REUTERS/Gary ...

A guide to the Federal Reserves events Wednesday

Wed, 19 Jun 2013 01:21:58 -0400

ManpowerGroup CEO Whats Next for Hiring

Wed, 19 Jun 2013 01:04:03 -0400

BY LAUREN WEBER As companies hold back on hiring in large numbers, scores of workers are applying to ManpowerGroup, the temporary-staffing agency. Every day, ManpowerGroup sends more than 600,000 men and women to factories, call centers, cubicle farms and other work sites, up from around 450,000 two years ago. Yet the corporate sector's increased appetite for temporary staff hasn't ...

Stocks Keep on Trucking

Wed, 19 Jun 2013 01:04:01 -0400

Stocks pushed to the highest levels in nearly three weeks as investors awaited news on whether the Federal Reserve will pull back on its efforts to stimulate the economy. Small-company stocks were among the best performers in Tuesday's rally. The Russell 2000 index, which tracks smaller company shares, jumped 12.15 points, or 1.2%, to a record of 999.99. The Dow Jones Industrial Average ...

IMF says to extend reach with online economics training

Wed, 19 Jun 2013 01:03:12 -0400

View Photo Reuters/Reuters - Buildings from the International Monetary Fund (IMF) headquarters are seen during the 2013 Spring Meeting of the International Monetary Fund and World Bank in Washington, April 18, 2013. ...

IMF and edX Join Forces to Pilot Online Economics and Financial Courses

Wed, 19 Jun 2013 01:03:10 -0400

edX , the not-for-profit online learning initiative composed of the leading global institutions of the xConsortium, announced a collaboration today to strengthen economic expertise worldwide. The collaboration will extend the reach of the IMF's training courses in macroeconomics and finance to governments and the public through the edX platform. EdX's open learning platform is used by ...

No recession on the horizon

Wed, 19 Jun 2013 00:52:50 -0400

The current fad for warning of an imminent recession in Australia is likely to go the way of caftans and paisley polyester body-shirts.Most of the arguments in favour of a recession being at least a possibility seem to be based on one thing: The resource investment boom has topped out and will soon begin to taper off, possibly quite sharply.And, so the story goes, the mining boom has propped up ...

No recession on the horizon

Wed, 19 Jun 2013 00:51:55 -0400

The current fad for warning of an imminent recession in Australia is likely to go the way of caftans and paisley polyester body-shirts. Most of the arguments in favour of a recession being at least a possibility seem to be based on one thing: The resource investment boom has topped out and will soon begin to taper off, possibly quite sharply. And, so the story goes, the mining boom has propped ...

Tanzania Donors Lose Interest in Isles Economy

Wed, 19 Jun 2013 00:51:16 -0400

DEVELOPMENT partners are now reluctant to support Zanzibar because they have lost their trust, some Members of the House of Representatives have said when discussing the 2013/14 annual budget estimates. "Donors are turning away because of rampant corruption in government and the unjustifiable share Zanzibar has been receiving from the 'General Budget Support (GBS) controlled by the ...

Royal baby expected to pump $380M into British economy

Wed, 19 Jun 2013 00:48:22 -0400

The arrival of a new heir to the British throne is expected to pump $380 million into the country's economy this summer, a retail analyst said Tuesday. Joshua Bamfield of the Center for Retail Research in Nottingham said the first-born child of the duke and duchess of Cambridge will be welcomed with parties and the popping of champagne corks. He predicted 3 million bottles of champagne and ...

Stock futures higher ahead of inflation housing data

Wed, 19 Jun 2013 00:13:42 -0400

United States stock futures signaled a higher open on Tuesday as investors await data on consumer inflation and new-home construction with hopes the Federal Reserve will calm fears over an early end to the bond ...

Inflation subdued housing starts increase

Wed, 19 Jun 2013 00:13:42 -0400

Consumer prices climbed shy of estimates in May held back by the first decrease in food prices since 2009, indicating that inflation remains under control, while new home construction increased as single-family houses rose to a five-year ...

U.S. stocks open higher after subdued inflation data

Wed, 19 Jun 2013 00:13:37 -0400

U.S. stocks opened higher Tuesday after U.S. housing starts and consumer inflation rose below estimates last month as investors await the end of the Federal Open Market Committee meeting ...

EU shares rose ahead of the Federal Reserve decision

Wed, 19 Jun 2013 00:13:35 -0400

The European Union saw its market opening and closing the day in green to actually rebound from their longest streak of weekly losses in 14 months as investors awaited this week’s Federal Reserve meeting for signs on the pace of stimulus ...

Traders Try to Game Oil-Price Benchmark

Tue, 18 Jun 2013 23:59:47 -0400

BY JUSTIN SCHECK AND JENNY GROSS LONDON—The European Union says it is searching for evidence that oil traders manipulate prices. If oil trader Halis Bektas is correct, it shouldn't be hard to find. Mr. Bektas describes one strategy he has used himself: Offer to sell a small amount at a loss to drive down published oil prices, then snap up shiploads at the lower price. He says such a ...

Economics Daily Digest The hunt for good jobs continues

Tue, 18 Jun 2013 23:49:58 -0400

Click here to receive the Daily Digest via email. "This was really eye-opening for me": Fed's Raskin Shocked at Low Quality of Work at Local Job Fair ...

HIGHLIGHTS-Q2 ThomsonReutersINSEAD Asia Business Sentiment Survey - by economy

Tue, 18 Jun 2013 23:19:13 -0400

SYDNEY, June 19 | Tue Jun 18, 2013 11:19pm EDT SYDNEY, June 19 (Reuters) - Optimism among Asia's top companies gathered momentum in the second quarter despite lingering concerns about the global economy and rising costs, the latest Thomson Reuters/INSEAD Asia Business Sentiment Survey published on Wednesday showed. The Thomson Reuters/INSEAD Asia Business Sentiment Index climbed six ...

Unpaid Internship Some Colleges Pick Up the Tab

Tue, 18 Jun 2013 22:53:21 -0400

Amid mounting criticism of intern labor practices, several colleges are paying students who take on unpaid internships. Melissa Korn explains on the News Hub. Photo: Getty ...

CBO Senate Immigration bill would help economy

Tue, 18 Jun 2013 22:05:38 -0400

People shout out against the Strengthen and Fortify Enforcement Act in the hall outside the House Judiciary Committee hearing on Capitol Hill in Washington, Tuesday, June 18, 2013. The committee in the Republican-led House is preparing to cast its first votes on immigration this year, on a tough enforcement-focused measure that Democrats and immigrant groups are protesting loudly. (AP ...

IMF downgrades Russian economy outlook

Tue, 18 Jun 2013 21:58:13 -0400

The International Monetary Fund ( IMF) has lowered its forecast of Russian GDP growth in 2013 from 3. 4 percent to 2.5 percent, head of the IMF mission said Tuesday."The growth will amount to 2.5 percent in 2013 and to 3.25 percent in 2014," Antonio Spilimbergo told reporters following talks with Russian government officials here.In April, IMF forecast that Russian economy would grow by ...

All Eyes Are On The Federal Reserve And Thats The Problem

Tue, 18 Jun 2013 21:57:22 -0400

(Image credit: Getty Images via @daylife) To read the financial and economic commentariat right now is to know that all eyes are on the Federal Reserve. Will it or won't it cease buying Treasuries and agency paper, will it or won't it raise the rate it sets for short-term credit? If the pundits are to be believed, such information will impact the allocation of trillions of dollars ...

How to Interpret Bernankes Message on Bond Buying

Tue, 18 Jun 2013 21:46:26 -0400

BY DAVID WESSEL Federal Reserve Chairman Ben Bernanke has turned out to be a pretty good communicator, but he and his colleagues have confused the markets lately. At a press conference Wednesday afternoon, he will get a chance to clear things up a bit or muddy the waters further. The state of play: At its May 1 meeting, the Fed renewed its pledge to keep short-term rates near zero until the ...

Stimulus Program Is Noise In Economy Gilder

Tue, 18 Jun 2013 20:42:49 -0400

All eyes are on the Fed as they kick off their 2-day meeting. Jon Hilsenrath, WSJ, and George Gilder, author of "Knowledge and Power," discuss what's ahead for Fed Chairman Bernanke, and the U.S. ...

Senate immigration bill to aid economy budget office says

Tue, 18 Jun 2013 20:35:52 -0400

WASHINGTON (Reuters) - A White House-backed bill to overhaul the U.S. immigration system got a boost on Tuesday when the non-partisan Congressional Budget Office concluded that the measure would cut federal budget deficits and boost the U.S. ...

Stocks post solid gains Tuesday

Tue, 18 Jun 2013 20:23:16 -0400

U.S. markets churned higher Tuesday after the Commerce Department said price inflation remained muted in May. The report by itself had negligible effect. But every report of late has been held up to the light to see how it might affect the U.S. Federal Reserve's monetary policy announcement expected Wednesday. Low inflation means the economy is not overheating. In turn, some investors have ...

Hints of Bernanke’s departure add to Fed policy worries

Tue, 18 Jun 2013 19:54:21 -0400

President Barack Obama has given investors something else to ponder ahead of what is already a highly anticipated statement from the U.S. central bank: The likelihood of a Federal Reserve without Ben Bernanke at its helm.Mr. Obama said in a television interview aired late Monday that Mr. Bernanke has served "longer than he wanted," the latest sign that the Fed chairman is poised to ...

Current account gap narrows on dairy tourism spend

Tue, 18 Jun 2013 19:37:38 -0400

Photo / Richard Robinson. New Zealand's current account deficit narrowed as expected in the first quarter as volumes and prices of dairy exports rose and visitors spent more, lifting the balance on goods and services. The current account deficit fell to $663 million in the three months ended March 31, from a revised $3.2 billion in the fourth quarter of ...

NZ dollar jumps to 3-week high vs Aussie

Tue, 18 Jun 2013 19:37:37 -0400

The kiwi dollar rose against the Australian but was little changed against the greenback. Photo / File The New Zealand dollar rose to a three-week high against the Australian currency after yesterday's minutes of the latest Reserve Bank of Australia meeting confirmed it is likely to cut interest rates in the future and expects the Aussie to decline further. The kiwi rose as high ...

Greens ditch quantitative easing policy

Tue, 18 Jun 2013 19:37:37 -0400

Digital image / P.K. Stowers The Green Party has abandoned its policy of quantitative easing - otherwise known as printing money - after almost a year of punishing backlash from political opponents. Co-leader Russel Norman is due to formally announce the policy retreat later this morning. The policy was announced in October last year as a way of bringing down the New Zealand dollar ...

Bank set to miss inflation target just as Mark Carney becomes governor post

Tue, 18 Jun 2013 19:36:43 -0400

Mark Carney, the incoming Governor of the Bank of England, could be forced to write to the Chancellor to explain away high inflation within days of starting his new job after a jump in the cost of living last ...

Chinas fastest-growing cities for multi-millionaires

Tue, 18 Jun 2013 19:36:17 -0400

The population of multi-millionaires in no-name Chinese cities is growing at a breakneck pace. Case in point: Chongqing's multi-millionaire population grew by nearly 80% between 2007 and ...

Immigration bill could cut deficits by $175 billion - CBO

Tue, 18 Jun 2013 19:36:17 -0400

A bipartisan Senate bill that would create a path to legal status for many of the 11.5 million undocumented immigrants in the United States could reduce deficits by $175 billion over the first 10 years and by at least $700 billion in the second ...

Bobby Jindal Is Confused About Tom Friedman and Economics

Tue, 18 Jun 2013 19:34:04 -0400

same old Mellonism -- tighter money and tighter budgets are always the answer, no matter the question -- repackaged with some base-pleasing jabs. Now, to be fair, Jindal is right that money doesn't literally grow on trees, but he seems unaware that the Federal Reserve can conjure up dollars with the stroke of a keyboard. And, as conservative reformers ...

USD FOMC Scenarios Changes in US Economy

Tue, 18 Jun 2013 19:27:36 -0400

USD: FOMC Scenarios, Changes in US Economy The Federal Reserve will be making one of its special quarterly monetary policy announcements on Wednesday and based on the price action of the currency, equity and bond markets, there is very little consensus on what is expected from the central bank. While no one expects the Fed to cut interest rates or alter its asset purchase program this week, ...

Can Immigration Reform Help Economy

Tue, 18 Jun 2013 19:24:08 -0400

Jun 18, 2013 6:49pm The immigration reform bill drawn up by the Senate Gang of 8 would boost the economy and lower the deficit, the non-partisan Congressional Budget Office says in a report out today. The newly released, and highly anticipated, report from the government’s nonpartisan bookkeeper comes as the Senate debates the bipartisan immigration legislation offered by the Gang of 8 and ...

Wall Street Rises on Fed Hopes Dollar Gains on Yen Health-Care Cost Inflation to Stunt in 2014

Tue, 18 Jun 2013 17:37:24 -0400

Wall Street Rises on Hopes for Fed Status Quo, Outcome Uncertain (Reuters) Stocks soared today due to growth-oriented sectors rallying on expectations that the Fed will maintain its current level of bond purchases when it issues its policy statement tomorrow. The Fed began its two-day meeting today, and traders are still debating whether the Fed will begin to wind down its purchases of $85 ...

Economic Scene Making the Case for a Little More Inflation

Tue, 18 Jun 2013 17:35:15 -0400

I was in Brazil in the early 1990s, when annual inflation topped 2,000 percent and Brazilians spent their entire paychecks as soon as they got them, buying a ...

NewsWatch How to trade the Federal Reserve decision

Tue, 18 Jun 2013 17:19:15 -0400

The main question hanging over financial markets right now is when and how the Federal Open Market Committee may change its monetary policy in coming months. That's why Wednesday is shaping up to be a big markets day and MarketWatch reporters analyzed how various asset classes may react depending on the message the Fed sends to the financial ...

Japanese veteran entrepreneur advises on the creative economy

Tue, 18 Jun 2013 17:03:34 -0400

Japanese veteran entrepreneur advises on the creative economy . JUNE 19, 2013 05:38. ...

Turkeys economy is still strong but vulnerable

Tue, 18 Jun 2013 16:38:48 -0400

After a volatile 1990s and a huge bust in 2001, his Justice and Development government has presided over steady high growth and modest inflation. In 2010 and 2011 the economy grew by a China-like 9 percent, leading to serious fears of ...

Metals decline as traders wait for Federal Reserve

Tue, 18 Jun 2013 16:33:58 -0400

Metal prices fell as traders anticipate that the Federal Reserve may start easing its support for the economy.The price of gold for August delivery fell $16.20, or 1.2 percent, to $1,366.90 an ounce. Palladium and silver also declined. Only platinum bucked the trend and edged higher.The central bank will end its two-day policy meeting Wednesday. Until this year, the Fed's bond-buying ...

How Is Experience Valued In the Sharing Economy

Tue, 18 Jun 2013 16:29:59 -0400

How do you buy or sell something so abstract as an "experience"? And what is it worth? That's not an idle question for companies in the sharing economy. The experience of staying in an Airbnb apartment-with all its quirks, blemishes and unique qualities-is the differentiator from the equivalent traditional hotel. Teasing out how an Airbnb home is valued or how a RelayRides rental ...

This One Paper Explains Why Republicans Are Losing On Economics

Tue, 18 Jun 2013 16:24:49 -0400

(Credit: AP) Have conservatives learned their lesson from the 47 percent debacle? A new paper from arguably the most influential conservative economist in the country, titled ...

Dairy prices halt slide up 1.1pc

Tue, 18 Jun 2013 16:23:07 -0400

Photo / Mark Mitchell Prices of dairy products rose in Fonterra's latest GlobalDairyTrade auction, snapping three straight declines as prices rose for skim and whole milk powder. The GDT-TWI Price Index rose 1.1 per cent compared to the last sale two weeks ago. The average winning price rose to US$4,598 a tonne from US$4,443 a tonne. Whole milk powder, the biggest product by ...

Turkish Minister of Finance Simsek said Turkish economy was based on strong roots and foreign investors still …

Tue, 18 Jun 2013 16:06:16 -0400

Turkish Minister of Finance Simsek said Turkish economy was based on strong roots and foreign investors still believed in Turkish success ANKARA - Turkish Minister of Finance Mehmet Simsek said Thursday that the investors still had confidence in Turkey's success despite recent Taksim protests. Simsek evaluated the Taksim incidents speaking on Aljazeera Channel and said Gezi Park projects ...

Video Deflation deflector Crisis super shield Building a Fed chair superhero

Tue, 18 Jun 2013 15:34:48 -0400

If Federal Reserve Chairman Ben Bernanke is not nominated for another term, the next Fed chief will need an array of super powers to deal with the economy's crafty villians. But what if no one person possess all the powers the country needs? The only answer - build the perfect central banker. Andy Sullivan ...

Video Daily Digit U.S. prices jump 1.7 percent

Tue, 18 Jun 2013 15:34:07 -0400

U.S. consumer prices, excluding food and energy, rose 1.7 percent in the 12-months through May, which should ease fears of a slowing ...

Its official Heres Jack Lews new signature

Tue, 18 Jun 2013 15:14:50 -0400

The Treasury Department on Tuesday unveiled Lew's official new signature, which will soon grace the bottom right corner of every bill in your ...

Govt claims spying programs stopped plot to bomb New York Stock Exchange

Tue, 18 Jun 2013 15:14:43 -0400

The deputy director of the FBI claimed Tuesday that a controversial electronic surveillance program revealed in media reports earlier this month helped thwart a plot to blow up the New York Stock ...

Medical cost inflation to ebb in 2014

Tue, 18 Jun 2013 15:02:35 -0400

(MoneyWatch) Medical cost inflation will rise less in 2014 than in any point in recent history, according to a new report by PwC's Health Research Institute. A host of trends -- from corporate wellness programs to moving care out of emergency rooms and into less expensive retail locations -- is expected to hold back the rapid rise in the amount Americans spend on health care even as an ...

Taxpayers spend $2-billion yearly to help federal workers retire early CFIB

Tue, 18 Jun 2013 14:26:05 -0400

Canadian tax payers spend $2-billion a year to help federal workers retire early, says the Canadian Federation of Independent Business.That's because many public sector workers that retire early are eligible to collect a "bridge benefit" - a temporary top up of their benefits that remains in place until they are eligible to collect the full Canada Pension ...

American business groups claim India hurting US jobs economy

Tue, 18 Jun 2013 14:09:35 -0400

WASHINGTON: A group of major American business organisations and advocacy groups launched a new alliance against what they allege as India's "discriminatory" economic policies, including intellectual property issues, which they claim ...

Russia’s economy should start orienting on lower oil prices in 2014– IMF

Tue, 18 Jun 2013 14:08:39 -0400

Russia and the global economy Given the shaky global economic environment, Russia should revise its expectations of oil prices and start to plan its budgetary expenses on the basis of lower oil, the IMF said in its Tuesday report. Russia's budgetary rule "should be tightened starting next year--via a lower benchmark oil price and reduced net borrowing--to allow rebuilding of fiscal ...

Surge in projects sparks warning over pitfalls

Tue, 18 Jun 2013 14:07:29 -0400

Colliers' analysis on house and apartment prices, median incomes, rents and mortgage payments across Auckland points to rising difficulties for first-time buyers. More than 1600 new apartment units are planned throughout suburban Auckland after a half-decade lull. From Manukau to New Lynn, Takapuna to Herne Bay, Flat Bush to Orewa, a boom has taken hold and once again people are ...

TD Economics expects global growth to pick up following slow start to 2013

Tue, 18 Jun 2013 14:04:02 -0400

TORONTO - TD Economics says it continues to expect global economic growth will pick up in the second half of this year, even though the first months of 2013 have been softer than anticipated. The bank's economists say in a quarterly assessment of global trends that the world economy will expand 2.9 per cent this year and 3.6 per cent in 2014. TD bases the assessment partly on expected ...

Would Jesus Love Ayn Rand Economics

Tue, 18 Jun 2013 14:04:01 -0400

Many on the American Right say they're strong Christians, but have bought into Ayn Rand economics which disdains government help for the poor and needy. Other Christians, like Sojourners' Jim Wallis, see Jesus's teachings enshrined in the Constitution's commitment to the common good, writes Rev. Howard ...

Stocks move higher on home building low inflation waiting for word from Federal Reserve

Tue, 18 Jun 2013 13:54:09 -0400

NEW YORK, N.Y. - The stock market is moving higher in midday trading after the government reported gains in home construction and low inflation. Investors are also sending stocks up because they expect the Federal Reserve will keep in place programs meant to prop up the economy. The Dow Jones industrial average was up 110 points, or 0.7 per cent, to 15,292 at noon Eastern Daylight Time Tuesday. ...

Obama hints at Bernanke exit from Federal Reserve

Tue, 18 Jun 2013 13:15:07 -0400

US President Barack Obama has hinted in an interview that he may be looking for a new chief of the US Federal Reserve, saying Ben Bernanke has stayed a lot longer than the current chairman had originally planned. Mr Obama, who was speaking to the PBS television network, compared Mr Bernanke to FBI Director Robert Mueller, who agreed to stay two years longer than he had planned and is to leave in ...

WRAPUP 3-U.S. inflation data points to firming economy

Tue, 18 Jun 2013 13:00:58 -0400

Tue Jun 18, 2013 1:00pm EDT * U.S. consumer prices rise 0.1 percent in May * Core prices up 1.7 percent in 12 months to May * Possible end to declines in core could comfort Fed By Jason Lange WASHINGTON, June 18 (Reuters) - U.S. inflation showed signs of stabilizing in May after a long decline, a potential comfort to Federal Reserve policymakers who want to avoid any chance of a debilitating bout ...

U.S. Headline Inflation Rises Moderately on Utilities Prices

Tue, 18 Jun 2013 12:50:04 -0400

The headline consumer price index for May was on par with market expectations as energy prices rebounded slightly to prevent another month of falling prices. Up 0.1% in May, headline inflation was buoyed, not by motor fuels, but by utilities prices, which rose 2.4% MoM. This follows a 4.4% increase in April which was the highest seen since the beginning of the economic downturn in 2008. Motor ...

United States Inflation still low

Tue, 18 Jun 2013 12:50:01 -0400

The May data for inflation showed a slower increase than expected. At 1.4% y/y, inflation is still low. Excluding the most volatile items, consumer prices are a on a clear decelerating trend. With sluggish demand and still large excess capacities inflation pressure should remain low for a ...

Minnesota economy among fastest growing in U.S.

Tue, 18 Jun 2013 12:43:02 -0400

06/18/2013 10:39 AM CDT - Minnesota business and labor union lobbies were among the heaviest spenders on lobbying during the first five months of 2013, which coincided with the Legislature's annual ...

Obama May Be Ready to Let Bernanke Go

Tue, 18 Jun 2013 11:50:45 -0400

BY JON HILSENRATH President Barack Obama has subtly suggested he's ready to let Federal Reserve Chairman Ben Bernanke step down from the central bank when Mr. Bernanke's term ends in January. In an interview with television host Charlie Rose conducted Sunday and aired Monday, Mr. Obama said that Mr. Bernanke "has already stayed a lot longer than he wanted or he was supposed ...

IT Capital Budgets Jump IT Hiring Lags Says Computer Economics

Tue, 18 Jun 2013 11:49:55 -0400

IRVINE, Calif.--(BUSINESS WIRE)-- IT capital budgets are rising 4% at the median this year, providing a strong indication that large enterprises are beginning to invest in upgrades to systems and infrastructure, the annual Computer Economics IT Spending and Staffing Benchmarks study finds. But the newly released study by the Irvine, Calif.-based IT research firm also cautions that ...

More investors hold bullish U.S. bond bets before FOMC survey

Tue, 18 Jun 2013 11:45:47 -0400

NEW YORK (Reuters) - More investors raised their positions in longer-dated U.S. Treasuries holdings in the latest week in advance of the Federal Reserve's two-day policy meeting, according to a survey released on ...

Housing Costs Help Consumer Inflation Stabilize in May

Tue, 18 Jun 2013 11:43:20 -0400

Led by a solid increase in shelter costs, the Consumer Price Index edged up 0.1 percent in May. The inflation outlook still remains favorable for the Fed's highly accommodative monetary ...

Consumer prices nudge up in May but inflation remains tame

Tue, 18 Jun 2013 11:43:17 -0400

WASHINGTON -- Consumer prices rose in May for the first time in three months, but the increase was small and inflation over the past year remained tame, the Labor Department said ...

TEXT-G8 summit communique section on global economy

Tue, 18 Jun 2013 11:17:08 -0400

ENNISKILLEN, Northern Ireland, June 18 | Tue Jun 18, 2013 11:17am EDT ENNISKILLEN, Northern Ireland, June 18 (Reuters) - Following is the section of a communique agreed by the leaders of the G8 powers at a two-day summit on the global economy. -- Promoting growth and jobs is our top priority. We agreed to nurture the global recovery by supporting demand, securing our public finances and ...

Record wealth for world’s richest as ranks swell report

Tue, 18 Jun 2013 11:04:15 -0400

The mascot, the so-called Spirit of Ecstasy or Emily, is pictured on the Rolls Royce Phantom Series II. A new report on Tuesday said investable wealth of the world's richest people rose by 10 per cent to record levels last year. (DENIS ...

Inflation much more back-breaking in cities than villages Study

Tue, 18 Jun 2013 10:57:55 -0400

People in cities, big or small, have suffered much more than those living in rural areas when it comes to dealing with the back-breaking retail inflation of items of daily use like cereals, pulses and vegetables, an analysis by the industry body Assocham has ...

Federal Reserve faces pressure to provide clarity in uncertain environment

Tue, 18 Jun 2013 10:57:46 -0400

WASHINGTON - Federal Reserve officials begin a pivotal two-day meeting Tuesday facing a dilemma. The economy is showing enough improvement to justify dialing back some of the Feds life support, yet financial markets are terrified of what might happen and are taking it out on the housing sector. Members of the rate-setting Federal Open Market Committee are expected to announce on Wednesday ...

US Inflation Logged at 0.1 Percent in May

Tue, 18 Jun 2013 10:55:42 -0400

Consumer prices in the United States rose a seasonally adjusted 0.1 per cent in May, the US Bureau of Labour Statistics said Tuesday. The inflation rate for the 12 months through May was 1.4 per cent. So-called core inflation, which excludes volatile food and energy prices, was 0.2 per cent in May and 1.7 per cent in the past 12 months. For more stories on investments and markets, ...

A Guide to the Federal Reserve Meeting

Tue, 18 Jun 2013 10:55:39 -0400

Here's what you need to know ahead of the Federal Reserve's two-day meeting, which starts today. What the Fed says post-meeting is important. Why? A big reason stocks have performed well the past four years is due in large part to the Fed's decision to slash short-term interest rates to roughly zero and buy mortgage-backed bonds and long-term government bonds. The Fed's ...

Regulatory Change Spurs Need for Investment Finds World Wealth Report 2013

Tue, 18 Jun 2013 10:46:27 -0400

June 18, 2013 /CNW/ - The volume and pace of regulatory change is the single largest challenge facing wealth management firms due to complexity, lack of regulatory uniformity, the increasing costs of both compliance and non-compliance, and disruptions imposed on client experience, finds the World Wealth Report 2013 (WWR) from Capgemini and RBC Wealth Management. While many firms are making ...

Record Wealth Levels Reached in 2012 as Global High Net Worth Population Rebounds

Tue, 18 Jun 2013 10:46:26 -0400

June 18, 2013 /CNW/ - Fueled by global recovery in the equity and real estate markets, the investable wealth of the world's High Net Worth Individuals ...

Trends Media Group Joins Tsinghua University School of Economics and Management to Collaborate on Advanced Management ...

Tue, 18 Jun 2013 10:43:20 -0400

BEIJING, June 18, 2013 /PRNewswrie/ -- Today, a ceremony of cooperation onthe Advanced Management Program in Fashion and Luxury (AMP) amongst Tsinghua University School of Economics and Management (Tsinghua SEM), Institut Francais de la Mode (IFM), Hautes Etudes Commerciales de Paris (HEC Paris), and Trends Media Group (Trends) was held at Tsinghua SEM. Professor Qian Yingyi, Dean of Tsinghua ...

Inflation remains largely flat

Tue, 18 Jun 2013 10:34:33 -0400

WASHINGTON U.S. consumer prices rose slightly in May as higher energy costs were partly offset by cheaper food. The small increase underscores that inflation is mild. The consumer price index ticked up a seasonally adjusted 0.1 percent last month, only the second increase in seven months, the Labor Department said Tuesday. Consumer prices fell 0.4 percent in April, the largest decline in four ...

Gov’t plans inflation-linked bonds

Tue, 18 Jun 2013 10:32:04 -0400

The Philippine government is planning to issue inflation-linked peso bonds to fund part of its deficit this year, taking advantage of the slow rise in consumer prices to secure cheap funding. National Treasurer Rosalia de Leon on Tuesday said the Philippines might join neighbors like Thailand and South Korea, which have both issued inflation-link bonds. "It's an option for funding, ...

Loonie down as traders seek stimulus clarity from Fed

Tue, 18 Jun 2013 09:57:39 -0400

The Canadian dollar was lower Tuesday while the greenback advanced ahead of the start of a two-day meeting by the Federal Reserve.The loonie was down 0.18 of a cent (U.S.) to 98.08 cents.Traders hope the meeting and a news conference Wednesday afternoon by Fed chairman Ben Bernanke will provide clarity on whether the central bank thinks that it can start to slowly let up on its program of bond ...

U.S. housing starts miss expectations but overall tone upbeat

Tue, 18 Jun 2013 09:57:38 -0400

U.S. housing starts rose less than expected in May, likely reflecting labour and material constraints, but the overall trend remained consistent with strength in the housing market.Though permits for future home construction fell, that followed a surge in April, which hoisted them above the 1 million-unit mark. The pullback last month reflected a drop in the volatile multifamily sector, but ...

US Housing Starts Gain Inflation Tame

Tue, 18 Jun 2013 09:45:55 -0400

U.S. housing starts rose less than expected in May, likely reflecting labor and material constraints, but the overall trend remained consistent with strength in the housing market. Meanwhile, U.S. consumer prices rose in May and a gauge of underlying price pressures showed signs of stabilizing after a long decline, a potential comfort to Federal Reserve policymakers who would like to see stronger ...

Home building continues to rise

Tue, 18 Jun 2013 09:39:21 -0400

The number housing starts rose 7% to an annual pace of 914,000 homes, according to a government report out Tuesday. The rise was almost all attributed to a jump in buildings with five or more housing units, which were up 25% from April. Multi-family building stats are particularly volatile since every unit in a building is counted as a single building ...

U.S. inflation ticks up on higher energy prices

Tue, 18 Jun 2013 09:38:50 -0400

U.S. consumer prices rose slightly in May as higher energy costs were partly offset by cheaper food. The small increase underscores that inflation is mild. The Labor Department says the consumer price index ticked up a seasonally adjusted 0.1 per cent last month, only the second increase in seven months. Consumer prices fell 0.4 per cent in April, the largest decline in four years. In the past ...

Housing Starts Rise 6.8

Tue, 18 Jun 2013 09:38:05 -0400

WASHINGTON--Construction of new homes picked up in May, driven by a surge in multifamily units. Housing starts increased 6.8% from April to a seasonally adjusted annual rate of 914,000, the Commerce Department said Tuesday. That was 28.6% higher than the year-ago level. Construction of multifamily units, including apartments, increased 24.9%. That sector is volatile, with big swings in the data ...

TD Economics As Fiscal Drag Dissipates a Sturdier Recovery is in Store

Tue, 18 Jun 2013 09:37:14 -0400

CHERRY HILL, N.J., June 18, 2013 /PRNewswire/ -- Buoyed by rising home prices, American households will drive U.S. economic growth forward according to a report released today by TD Economics ...

US new home builds gather pace inflation tame ahead of Fed meeting

Tue, 18 Jun 2013 09:34:49 -0400

(13 mins ago) Construction of new US homes rebounded modestly in May from a plunge the month earlier, official data showed today. As the housing data came into view US stock futures gained for the second time in as many days ahead of the Federal Reserve’s two-day policy meeting in Washington. Dow Jones industrial futures rose 32 points to 15,153. The broader S&P futures tacked on 3.4 ...

Study Infections May Make Us More Vulnerable to Depression

Tue, 18 Jun 2013 09:30:31 -0400

so-called "sickness behavior" is the way humans and animals alike devote all of their resources to fighting off infection. And emerging research suggests it may more more than a coincidence that those same symtoms also characterize clinical ...

Spain is emerging from recession says minister

Tue, 18 Jun 2013 09:27:05 -0400

The rush will extend across profiles. Outsiders will want to be part of the changes that Murthy will bring in; and this will not happen if they are working for competition," says Aditya Mishra, Randstad ...

U.S. price inflation remains mild in May

Tue, 18 Jun 2013 09:22:19 -0400

Federal Reserve 's target rate of 2 percent or lower. Prices rose 0.1 percent in May with an uptick in energy prices, which gained 0.4 percent, offset by lower food prices, which fell 0.1 percent. Economists had expected prices to rise 0.2 percent month to month, but the report was not completely unexpected, as the consensus forecast was correct in predicting an annual inflation rate of ...

U.S. consumer prices rise core inflation bodes well for demand

Tue, 18 Jun 2013 08:53:36 -0400

U.S. consumer prices rose in May and a gauge of underlying price pressures showed signs of stabilizing after a long decline, a potential comfort to Federal Reserve policy makers who would like to see stronger inflation.The Labor Department said on Tuesday its consumer price index edged 0.1-per-cent higher, a slightly weaker gain than analysts polled by Reuters had ...

Dont Count On Citi To Thrive In Rising Rates Stronger Economy

Tue, 18 Jun 2013 08:43:55 -0400

have posted an impressive 20% rise thus far in 2013, but the stock's current price is simply out of touch with reality. Bulls look to rising interest rates as a sign of future strength for the economy and for Citi, but they ignore the fundamentals of the market and of Citi's weak profit history. Even before the financial crisis, Citi struggled to create value for investors. Figure 1 ...

Ontario faces serious shortage of affordable housing

Tue, 18 Jun 2013 08:36:40 -0400

June 18, 2013 /CNW/ - Lower homeownership rates are poised to create additional pressure on already strained rental housing markets, says a new report released today. The 2013 edition of Where's Home?, released by the Ontario Non-Profit Housing Association (ONPHA) and the Co-operative Housing Federation ...

Obama Bernanke has stayed a lot longer than expected

Tue, 18 Jun 2013 08:35:30 -0400

"He's already stayed a lot longer than he wanted, or he was supposed to," said Barack Obama in an interview with Charlie Rose, after the PBS host asked the president whether he planned to reappoint Bernanke after his term expires on Jan. 31, ...

President Obama hints Bernanke may be gone as Fed chief in 2014

Tue, 18 Jun 2013 08:17:51 -0400

Federal Reserve Board Chairman Ben Bernanke testifies on the Board's Semiannual Monetary Policy Report to Congress during a Senate Banking, Housing and Urban Affairs Committee hearing on Capitol Hill on July 17, 2012 in Washington, D.C. UPI/Kevin ...