Changsha Plans $130 Billion Investment to Boost China's Economy

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Source: Bloomberg
Changsha, the central city of China, announced an $130 billion investment plan aimed at boosting national economy at the period amid its growth slows. The city is addressing banks to fund 195 projects, including subway lines and airport. Local governments are pushing efforts to support the economy, introducing measures such as tax cuts to boost consumption.
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Fri, 27 Jul 2012 09:56:40 GMT

Australian Bonds Drop and Aussie Rises on ECB Pledge

The Australian Dollar gained for a third day versus the U.S. Dollar and the Yen, and the 10-year  government bond yield rose to 2.94% on Mario Draghi's vow to do everything needed to sustain the Euro. The Aussie advanced to $1.0411, after 0.9% rise yesterday. The currency gained 1.7% this month versus the U.S. counterpart.

Fri, 27 Jul 2012 08:06:39 GMT

U.S. jobless claims decline

The number of the U.S. unemployment claims considerably declined last week, sinking by 35,000 to 353,000 and presenting the biggest 1-week decrease of the year. Economists expected jobless claims to fall to 378,000. The main reason is a decreased number of layoffs in the automotive industry, indicating a changing pattern in industry employment.

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