Japanese economy may not reach the target inflation index in the nearest future, as the government of Shinzo Abe awaits it to be. Accordingly, a lot of economists predict the 10-year Japanese bond yields to shrink to 0.5% till the end of the fiscal year and to 0.315% by April 5. Currently the government bonds are trading at 0.765%, while
Services industry in the nearest future is predicted to become the largest sector in Asian economies. In 2010 services industry accounted only 48.5% of GDP output in Asia, while the European countries and the USA, on average, hold 75% of GDP in services and the other part in manufacturing and agriculture. Such a scenario is to become reality mostly in
Based on the Eurostat data, the Eurozone's economic growth in the second quarter of this year is confirmed with a 0.3% increase. On the annual basis, economy slumped 0.5%. Nevertheless, the ECB officials predict the Eurozone's economy to return to the stable growth only in 2014. Analysts notice that the main driver of the GDP advance in the Q2 was
The greenback slid versus its higher-yielding peers after a report indicated China's services industry advanced last month. The Bloomberg U.S. Dollar Index lost 0.2% to 1,034.53 as of 8:43 a.m. in New York, after rising to 1,038.61 yesterday. The U.S. Dollar was stable at $1.3170 per Euro after reaching the highest level since July 22 yesterday. The U.S. currency fell
Many emerging economies, from China to Brazil, keep almost $3 trillion in foreign currency reserves, as they try to preserve their own currencies from the heaviest slump in more than five years. Brazil, Indonesia and India raise interest rates to support their national currencies, while the economic growth is slowing down. Moreover, some countries act in such a way to
Stock market in Japan can painfully react, if the decision on the sales tax increase is not taken by April. Some economists predict that the overall decline on stock markets may reach 10%, while the market capitalization can lose $418 billion. Japanese authorities plan to increase the sales tax in the country from 5% to 8%, but the economic conditions
诺基亚手机业务被微软收购似乎并不出乎意料，但令人惊讶的是这笔收购宣布的时机和价格。诺基亚的市值早已低于辉煌时期的1100亿欧元，不过诺基亚以不到55亿欧元的价格出售设备和服务业务仍令人震惊。
U.S. equities traded higher on positive manufacturing data and better construction spending. However, the Fed tapering worries still persist and also concerns over U.S. attacking Syria. The S&P's 500 Index added 0.92% to 1,648.04 at 10:33 a.m. EDT, while the Dow Jones Industrial Average gained 0.62% to 14,902.26 and the Nasdaq technology index climbed 1.05% to 3,627.55.
Construcion spending in July has bounced back, soaring to highest level since 2009 summer. Contractors spent 0.6% more in July up to $900,824 million, exceeding expected 0.4% increase. Contractors focus was mostly on private dwellings, which in total mounted to $334,578 million, while public construction slid 0.3% in July, dragged down by reduction in local and state investment.
Nokia, the Finnish smartphone manufacturer and one of the largest mobile devices producers in the world is going to sell its "Devices and services" business to its main partner Microsoft, which plans to buy some of Nokia patients as well. The cost of the deal will be 5.44 billion euros and it is planned to make it till the March,
Annual producer prices in the Eurozone's industrial sector advanced 0.3% in July of this year from being steady a month earlier. Economists predicted a 0.2% modest advance. Prices for intermediate products became 0.5% more expensive, while energy and durable goods prices increased 0.6% both. The rise in producer prices indicate the recovery in the Eurozone economy.
Sales of new cars in the third economy of Europe slumped as much as 6.56% this August from a year ago to 52900 units, according to the data from Ministry of Transport of Italy. Meanwhile, the car market in the country is stabilizing, with drop in car sales became the slowest in two years. Analysts point out that August is
The British Retail Consortium reported that year-to-year retail sales in August increased by 3.6% which was 0.3% less than in July. Like-for-like (adjusted for floor space changes and opened/closed outlets) sales increased by 1.8% which was 0.4% less than in July. Despite the slightly worse numbers this added to the views that UK's economy is recovering as Britons seemed more
Supported by better-than-expected manufacturing data from Europe and China, Asian stock inched higher. Japanese benchmark index Nikkei 225 soared 2.91% to 13,968.00, hitting a three-week high, and adding further to Monday's gains. Additionally, the Topix, which is Tokyo's broader measure, advanced 2.66% reaching 1,147.55 points. Meanwhile, Japanese currency plunged to a one-month low against the U.S. Dollar, sending Japanese equities
The Aussie Dollar rose to one-week high as the RBA kept interest rates unchanged and opt out mentioning further stimulus. The Australian Dollar gained 0.6% to 90.36 U.S. cents, after advancing 0.9% a day earlier. It fetched 90.42, the highest since August 26. The currency also rose 0.7% to 89.80 yen after touching 89.94, the most since August 19.
Swiss economy expanded 0.5% in the second quarter, down from a 0.6% expansion recorded during the previous three months, however, this figure is stronger than analysts' expected. The main contributors for growth came from private consumption, which advanced a seasonally adjusted 0.7%, while public spending inched higher 0.1%. Despite strong domestic currency and struggling Eurozone, Swiss economy is expected to
The Japanese Yen weakens to the lowest level in a month as signs of global economy's improvement curbed demand for haven assets, while recent data from Japan showed progress in the BOJ's easing efforts. The Yen lost 0.2% to 99.54 per U.S. Dollar after fetching 99.70, the lowest level since August 2. Japan's currency bought 131.13 per Euro compared to
On a seasonally-adjusted basis the volume of retail sales in the Commonwealth of Australia rose by 0.1% in July, following a stagnation (0.0% change) in June and a 0.2% rise in May. The release was somewhat disappointing, since the broad expectations were for an accelerated growth of 0.4%.
The seasonally-adjusted data published today by the Australian Bureau of Statistics on the current account of the world's fourteenth largest economy suggest the deficit went up to $9,350m from $8,740m, or by 7% within the second quarter of this year. This means the difference between the imported and exported goods rose and the demand for the Australian Dollar supposedly fell.
According to China Federation of Logistics and Purchasing, China's tertiary sector expanded in August, being that the non-manufacturing purchasing managers' index was above a mark of 50, namely at 53.9. The figure, however, came in lower than the one posted previous month, when the rate of growth was a notch higher, at 54.1.
The Indonesian Rupiah fell to the lowest level since April 2009, wakening beyond 11,000 per U.S. Dollar amid record current account gap. Indonesia's trade shortfall reached $2.3 billion in July, against economists' expectations for $393 million, as imports advanced 6.5% on year, whereas exports fell for a 16th straight month. The nation's currency lost 0.5% to 11,035 per greenback at
One of the largest U.S. banking corporations is on the way to cut around 1000 jobs in the United States. The biggest of number of layoffs will take place in the Bank of America's branch in Beachwood, Ohio, where more than 950 will be cut. Moreover, almost 150 people will lose their workplaces in other Ohio cities. The bank
New car sales in the second economy of Europe continued to be in the downtrend in August with the new car registrations slumping 11% to 85.5 thousand units. Volkswagen had the biggest decrease among the leading car producers, whose sales fell 24%. Peugeot and Ford sold 17% and 19% less cars this August, comparing with the same month in 2012.
U.K. shares inched up after manufacturing advanced at a faster pace in Britain and China, while Vodafone Group Plc soared to the highest level in 11 months. Vodafone rallied 4%, after announcing that attempts to sell the stake in the wireless venture to the Verizone Communications Inc. have progressed. The FTSE 100 Index gained 1.8% to 113.37 points.