According to the survey of Capital Economics, unemployment level in the United Kingdom will fall on the slower pace, even though the economic recovery continues in the country and the overall growth in 2013 will exceed 1%. Even the Bank of England's target is set at 7%, which can be reached only by 2016. Meanwhile, the employment level in August
United States Congress voted for the increase of country's debt ceiling, as the government will open after 16 days of closure. U.S. state employees are planned to return to work today. The bipartisan Democratic-Republican agreement includes government financing through January 15, while the debt ceiling is raised until February 7. Moreover, Congress must prepare the full budget plan until December
Australian business confidence advanced in the three months ended in September to the strongest level in a two-year period mainly due to a political change after federal election, a survey published by the National Australia Bank showed on Thursday. The Australian business confidence index grew from a level of -1 in the Q2 to 3 in the Q3, the most
Consumer confidence in New Zealand advanced in October following a slowdown recorded in the month before, the latest data revealed by the ANZ and Roy Morgan showed on Thursday. According to the data consumer confidence index grew from 119.3 in September to 122.3 in October, while the current condition index rose from 116 to 120 in the same month.
Wheat traded in Chicago gained on Thursday rising for the first time in a three-day period amid speculation that cold and rainy weather in Argentina and Brazil may harm crops and harvest in the countries declining South American supplies. Wheat for delivery in December added 0.9% to $6.875 a bushel on the CBOT and was traded at $6.86 as of
Chinese foreign direct investment advanced at a faster rate in September than in the month before, the latest report released by the Ministry of Commerce unveiled on Thursday. The report showed that the FDI inflows rose 4.9% on an annual basis in September standing at $8.84 billion after it added 0.6% in the month before, while it was forecast to
China's equities advanced on Thursday rebounding from the largest drop in a three-week period after the U.S. Congress voted yesterday to end a partial government shutdown avoiding the country's default. The Shanghai Composite Index gained 0.5% to 2,206.89 by 1:06 p.m. following a drop recorded yesterday of 1.8%.
West Texas Intermediate oil fluctuated on Thursday following the largest increase in a week after the U.S. President Barack Obama signed a deal opening the federal government and ending speculation of the world's biggest oil producer's default. WTI for November settlement slipped 7 cents to $102.22 a barrel on the NYMEX as of 12:50 p.m. in Singapore.
Wall Street increased on Thursday as the U.S. President Barack Obama and Senate leaders found an agreement on a new federal debt ceiling reopening the federal government and avoiding a catastrophic scenario of the country's default. The Dow Jones industrial average added 1.36% to 15,373.83, the S&P 500 Index rose 1.38% to 1,721.54 and the Nasdaq gained 1.20% to 3,839.43.
Asian and Pacific stocks rallied on Thursday after a debt limit deadlock ended yesterday when the U.S. President Barack Obama and House Republicans agreed on a new federal debt ceiling avoiding the country's default. The MSCI Asia-Pacific Index outside Japan advanced to the highest level in a five-month period and was traded 0.4% up, while Japan's Nikkei added 1.2% to
Homebuilder confidence in the world's largest economy surprisingly declined in October, a report released by the National Association of Home Builders revealed on Wednesday. According to the report, the NAHB/Wells Fargo Market Index slipped from a level of 57 points recorded in September to 55 in October, while it was originally forecast to stand at 58.
U.K. unemployment claims dropped the most in approximately 16 years in September, while the jobless rate remained at 7.7% for a third consecutive month on signs that the labor market is gaining momentum. Jobless claims declined 41,700, the most since year 1997, topping the economists' predictions of 25,000, according to the Office for National Statistics.
European shares reversed their earlier retreat after a report that the Republican leader has approved a proposal to raise the government's debt limit. The Stoxx Europe 600 Index rose 0.2% to 315.45 as of 3:04 p.m. London time, reversing its previous decline of 0.6%. The U.K.'s FTSE 100 gained 0.3%, while Germany's DAX climbed 0.5%.
Japanese stocks fluctuated between gains and declines as U.S. lawmakers resumed their talks to avoid a U.S. default by reaching a deal on the U.S. budget and the debt ceiling. The Topix slipped 0.1% to 1,196.28 at 9:43 a.m. Tokyo time, after advancing 0.2%, while the Nikkei 225 Stock Average climbed less than 0.1% to 14,445.25.
U.S. shares climbed, after the Standard & Poor's 500 Index advanced for a fifth day out of last six, as policy makers are in a hurry to make an agreement on increasing the debt limit ahead of tomorrow's deadline. The S&P 500 added 0.6% to 1,708.93 as of 9:39 a.m. New York time; however, the equity-benchmark slipped 0.7% on Tuesday,
The British currency appreciated for a third straight day versus the greenback after the U.K. unemployment data that showed the biggest decline in 16 years. The Sterling gained 0.1% to $1.6014 as of 1:50 p.m. in London, after advancing to $1.6059, the strongest level since October 9. The Pound fell 0.1% to 84.66 pence per Euro, after sliding to 85.10
The European Central Bank plans to test Eurozone's banks in early 2014, while the ECB lawyers are developing rules of how to do it. It is said that more than 130 banks will be checked for balance sheets' health, and tests will be held in both big and small European banks. Mario Draghi, the ECB President, said that stress-tests are
Property prices in Hong Kong will lose as much 25% in the nearest future, as supply rises on significant increase of construction pace, while Bank of America experts see a possible advance of interest rates. From the overall drop of 25% only 5% will take place this year, but in 2014 prices will slump by additional 15%. Since March Hong
Chinese Finance Minister said that the United States have to raise debt ceiling and approve budget in order to provide market and financial stability not only in its own country, but in the whole world, as the U.S. holds the reserve currency and has the largest economy in the world. China, in turn, holds more than 1.25 trillion of Treasuries,
Portuguese government plans to cut additional 3.2 billion euros from spending during 2014 in order to reach deficit target of 3%, while the country's aim is to exit from the bailout program. Moreover, 1.3 billion from the whole cuts will come from the state sector, as government employees who earn 600 euros and more will see a salary decrease of
European shares fell on Wednesday suggesting that the benchmark Europe Stoxx 600 Index may drop from the strongest level in nearly four weeks as U.S. policymakers continued to negotiate the federal debt limit avoiding country's default. Euro Stoxx 50 Index futures expiring in December slipped 0.3% to 2,985 as of 7:45 a.m. London time, while U.K.'s FTSE 100 Index fell
U.S. one-month rates fluctuated on Wednesday and were traded close to the strongest level since 2008 before an auction today offering short-term debt totalling $68 billion following three- and six- month auctions drawing the weakest demand in 4 years. One-month bill rates were at 0.34% at 7:01 a.m. London time after touching 0.36% yesterday and today, the most since October
German government bunds were little changed on Wednesday before a report was released showing that inflation in the 17-nation bloc increased at the fastest rate since March in September. The benchmark 10-year government bund yielded at 1.91% as of 7:26 a.m. London time following a gain to 1.92%, the highest level since September 24.
Car sales in European countries increased in September of this year, as the registrations added 5.4% on the annual basis to 1.15 million units. Despite that, it is the second lowest number of sales for September. Moreover, for first nine months of 2013 registrations dropped 3.9%. United Kingdom, France and Spain posted gains in car sales, while German and Italian