Japanese government should decrease the corporation tax in the country in order to boost economic growth and encourage entrepreneurship. Etsuro Honda, an economic adviser of the Prime Minister Shinzo Abe said that it is reasonable to lower the tax to Germany's level of 29%. Moreover, the OECD supports the idea, adding that this point should b included in Abe's reforms'
According to the MNI Chicago Report, sentiment of the business in the United States climbed to 65.9 points in October of this year from 55.7 points in September. At the same time, economists forecasted the index to decrease and reach 55 points, while no one predicted it to surge above 60 points. It is worth pointing out that the reading
Exxon Mobil Corp., the most valuable oil company in the world, increased its natural gas and oil production by 1.5% during the third quarter of this year to 4.02 million barrels per day. At the same time, the quarterly net profit of the company declined 18% to $7.87 billion from $9.57 billion a year earlier. Today, Exxon Mobil Corp. shares
Wheat fell on Thursday declining from the weakest level in more than a four-week period amid speculations that demand for U.S. supplies may be reduced as India plans to boost its exports. Wheat for settlement in December slipped 0.3% to $6.7325 a bushel on the CBOT, the lowest level since October 1, and the prices traded at $6.74 as of
Gold lost on Thursday falling for a third straight day and trimming its monthly gain amid speculation the Federal Reserve may begin scaling back its $85 billion a month bond purchases program sooner than economists expect. Bullion for delivery in October slid 0.7% to $1,335.30 an ounce and traded at $1,335.70 as of 2:22 p.m. Singapore time.
Emerging-market shares declined on Thursday falling the most in seven days and reducing a monthly increase for the area benchmark index as companies' earnings were shy of a forecast and investors speculate the U.S. Fed may trim its bond purchases soon. The MSCI Emerging Markets Index slipped 0.6% to 1,036.24 at 4:27 p.m. Hong Kong time.
U.K. equities declined on Thursday falling from the strongest level since May after companies from Royal Dutch Shell Plc to AstraZeneca Plc showed drops in earnings, when Shell contributing the most to a decline loosing 4.6%. The FTSE 100 Index fell 25.27 points to 6,752.43 as of 9:02 a.m. London time, however, the gauge is still up 4.5% this month.
West Texas Intermediate crude were little changed on Thursday traded near the lowest level in four months after a report showed that stockpiles in the world's biggest consumer, U.S., increased for the sixth week. December WTI futures traded 1% down at $96.76 a barrel as of 9:30 a.m. on the NYMEX after the prices slipped 1.5% to $96.77 yesterday.
European shares fluctuated on Thursday with the benchmark local index heading towards a monthly increase after a report showed better-than-forecast earnings offsetting concerns that the U.S. Fed may reduce bond purchases earlier than predicted. The Stoxx Europe 600 Index slipped 0.1% to 320.68 as of 9:55 a.m. London time and it has rallied 3.3% in October.
Government bond in the United Kingdom dropped on Thursday snapping its four-day gain after an industry report showed that house prices advanced in October suggesting that the domestic economy is improving. The government benchmark 10-year yields climbed 2 basis points to 2.56% as of 8:53 a.m. in London following a drop to 2.54% yesterday.
Unemployment rate in Italy grew slightly in September despite economists' expectations of a decrease, the latest report revealed by the statistical office Istat showed on Thursday. According to the report the country's jobless rate increased from 12.4 in August to 12.5% in the following month, while initial forecast showed a drop to 12.3%.
Consumer confidence in the United Kingdom recorded a decline in the month of October falling from the highest level in six-years recorded in September, a barometer published by the Gfk unveiled on Thursday. According to the Gfk, the UK's consumer confidence fell from -10 in September to a level of -11 in the following month, while it was predict to
Housing starts in the world's third largest economy increased more than economists originally expected in the month September, at the same time, construction orders gained notably, the Ministry of Land, Infrastructure, Transport and Tourism reported on Thursday. Year-on-year, housing starts in Japan more than doubled from 8.8% in August to 19.4% in September.
The Federal Reserve maintains its aggressive stimulus program totaling $85 billion per month of assets purchased mainly due to a recent partial government shutdown raising concerns about health of the world's largest economy. The Fed's decision to remain its bond-purchasing program matched economists' predictions after disappointing payrolls and inflation data.
Total cash earnings of wage earners' in Japan slightly advanced on an annual basis in September signing that the progress of achieving large increases has been slow to end a 15-year deflation in the country, a report published by the Bank of Japan revealed on Thursday. According to the report, summer time bonus payments in 2013 added 0.3% year-on-year after
The U.S. Dollar fluctuated on Thursday and traded close to the highest level in two weeks against the majority of its most-traded counterparts after the Federal Reserve is set to continue its bond-purchasing program. The U.S. Dollar index slipped 0.1% to 79.704 traded near the strongest level since October 17 at 79.905 where it was seen on Wednesday.
The Japanese gross domestic product growth was revised up for the fiscal year of 2014 starting in April together with raising the inflation target to almost 2% in two years, a report released by the nation's central bank showed on Thursday. According to the report Japan's economic growth is forecast to reach 1.5%, while the core consumer inflation rate is
Asian markets declined on Thursday, while Australian stocks remained steady after a two-day meeting of the Federal Reserve resulting in maintaining the bond-purchasing program until the end of the year at least. The MSCI Asia-Pacific outside Japan slipped 0.6%, the Shanghai Composite Index also slid 0.6% and the Australian gauge held unchanged.
U.K. gilts advanced for fourth straight day, amid speculations the Federal Reserve will maintain its debt-purchase programme until 2014. The ten-year gilts declined four basis points to 2.56% as of 3:08 p.m. in London, the weakest since August 13, while the price for 2.25% security note due in September 2023 advanced £3.75 per £1,000 nominal value, to 97.35.
According to the data of the National Bank of Belgium, economic growth in the country reached 0.3% in July-September of this year on a quarterly basis, while in the second quarter the economy increased 0.2%. Moreover, the economy is now rising for the second consecutive quarter after stagnating in January-March. On the annual basis the economy added 0.4% after a
The U.S. government ten-years bonds slipped one basis point to 2.49% this morning, after touching the lowest level since July, as markets expect Fed's decision on monetary stimulus in nearest future, which is most likely will delay tapering debt-purchase programme until the next year. Meanwhile, seven-year notes declined around one basis point to 1.863%, the three-month low.
According to the new weekly data from the U.S. Energy Ministry, oil inventories in the country jumped 4.1 million barrels during the last week, which ended on October 25. Analysts forecasted a much lower increase in inventories of 1.9 million barrels. At the same time, a rise in inventories slowed from the previous week. Following the data release, WTI price
Consumer price index in the United States increased only 0.2% in September of this year, while the annual inflation stood at 1.2%, being the lowest since April. Excluding the prices' rise on energy and food, the inflation was only 0.1%. Energy prices, in turn, surged 0.8% during the reporting period. At the same time, the overall inflation level remains lower
The economic growth in Spain, which currently has the largest unemployment level in the Eurozone, reached 0.1% on a quarterly basis in July-September of this year, as the two-year long recession ends in the country. The result matched economists' predictions. On the annual basis Spanish GDP lost 1.2%, and this is significantly lower than a quarter ago, when the economic