Japan's Prime Minister Shinzo Abe said on Wednesday after visiting New York Stock Exchange that investors from all over the world are welcomed in Japan, as the country's fiscal policy is becoming friendly to them. Recently the Japanese government announced a decrease of the corporation tax. In his speech Abe said that Japan can become the future leader of the
South Korean officials announced on Thursday that the country will have to reduce some benefits to its citizens, as budget revenues are expected to fall in 2014 for the first time since 2009. Moreover, the government will not raise, for example, pension benefits, as it promised earlier, while aging population still needs more support. The country's deficit for 2014 is
The IMF asked U.S. lawmakers to pass the debt ceiling deal as quickly as possible, while the delay may cause negative consequences for the whole country's economy. Alongside, Barack Obama refused any negotiations with Republicans over the federal budget, and it complicates the situation. Currently the U.S. public debt ceiling is $16.7 trillion and it will be reached by October
Home prices in Dublin surged as much as 10.6% in August on the annual basis, registering the fastest increase since the end of 2007. Across the whole country house prices advanced only 2.9% from August of 2012, but on a monthly basis they added 0.9%. Economists say that the rise was mainly called by limited supply, while demand is also
Corn traded in Chicago declined on Thursday due to speculations that yields may be better than originally estimated and as forecasts showed favourable harvesting conditions in the U.S. Midwest. Corn for December settlement dropped by 0.7% to $4.515 a bushel as of 6:40 a.m. on the CBOT, while prices of the commodity are down 12% in the Q3.
Copper increased on Thursday recording its largest gain in a week after a report showed that the economy of the world's second biggest consumer of the commodity, U.S., accelerated at a faster rate than forecast. December Copper futures added 1.1% to $3.309 a pound as of 10:18 a.m. on the New York's Comex, the biggest jump since September 19.
The Russian currency decreased for the third straight session on Thursday amid speculation that the central bank may reduce its currency reserves and as companies in the country started buying euros and dollars before next month's foreign debt payments. The Ruble fell 0.2% to 37.2467 versus the dollar-euro basket as of 4 p.m. Moscow time.
U.S. Treasuries increased on Thursday rebounding from the lowest level in six weeks after reports unveiled that jobless benefit claims in the country dropped last week showing an improvement in the labour market. The benchmark 10-year bonds yielded at 2.65% as it rose by 0.02% as of 9:46 a.m. New York time, after it touched the lowest level at 2.61%
German shares gained on Thursday erasing previous drop as investors seek for a result from talks between U.S. policymakers to decide on a new federal budget before deadline on Monday. The benchmark DAX Index advanced by 0.1% to 8,673.04 as of 3:58 p.m. Frankfurt time after it fell by 0.4% earlier, at the same time, the broader HDAX Index jumped
Italy's business sector activity decreased by more than economists preliminary estimated in July due to a faster pace of drop in sales, a report released by the statistical office Istat showed on Thursday. According to the report, retail sales fell 0.3% on a monthly basis in July after it dropped 0.2% in the month before, while it was expected to
The pace of growth of the United Kingdome's economy might lose momentum due to a high level of the country's current account deficit, Capital Economics Chief UK Economist Vicky Redwood said on Thursday. A report released by the Office for National Statistics showed that current account deficit of the U.K. was upwardly revise to GBP 21.8 billion in the Q1.
Unemployment of the second largest economy in South America recorded further decline in the month of August and touched the lowest level in a eight-month period, a data published by the statistical office IBGE revealed on Thursday. Brazil's jobless rate fell from 5.6% recorded in July to 5.3% in August, the lowest figure since December 2012.
Performance of the U.S. economy advanced at unrevised rate in the Q2, the latest report published by the Commerce Department showed on Thursday. According to the report, gross domestic product of the world's largest economy rose by 2.5% matching previous estimates, while economists had projected the rate of growth to be upwardly revised to 2.6%.
Performance leading indicator of the 17-nation bloc economy advanced for the third consecutive month in August suggesting that the economic situation in the area is improving, a data released by the Conference Board showed on Thursday. The leading economic index added 0.9% on a monthly basis to 108.9 in August, following a 0.8% gain and 0.6% in July and June
Less contracts for previously owned houses were signed in August, adding to the case of slowing housing market momentum due to increasing mortgage rates. The pending home sales index dropped 1.6%, while economists had expected 1% reduction. The average rate of a fixed mortgage for 30 years was 4.58% as of August 22, the highest level since July 2011.
The Federal Reserve is considered to lose face, if decides to taper in October after its unexpected decision in mid-September, yet experts consider stimulus cut plausible. Alongside investors' ambiguity around the Fed asset purchasing program, the central bank's promise of close-to-zero rates may harm confidence in future economic growth and hurt economic activity today.
Wall street is expected to open a bit higher as jobless claims fell unexpectedly, however, uncertainty poured onto trader sentiment as discussion about U.S. debt ceiling became hot topic. The initial jobless claimed dropped by 5,000 to 305,000, overcoming the expected reading of 325,000.The S&P 500 futures added 0.2% to 1,689 as of 8:58 a.m. EDT.
The U.S. nation considers it reasonable to request spending cuts in exchange for the debt ceiling rise, though the default risk is at stake. Yet the U.S. President Barack Obama insists that the question of borrowing limit should come without any conditions and negotiations. It is anticipated that the consensus may be achieved only if the U.S. government faces shutdown.
The number of people that are jobless in U.S. unexpectedly fell previous week, indicating on nation's economic recovery. Unemployment claims reached 305,000 in the past week, according to the Labor Department, while the economists predicted an advance to 325,000.
Chinese shares declined to the lowest level in approximately 20 days as companies related to the free-trade zone in Shanghai dropped on worries that gains were excessive. The Shanghai Composite Index slipped 1.9% to 2,155.81, the lowest since the beginning of September, while the CSI 300 Index retreated 1.8% to 2,384.44.
U.K. economy expanded in the second quarter of the year, as the consumer spending rose after the first quarter that topped estimates. Country's GDP grew 0.7%, making the expectations, while household expenditure increased 0.3% and disposable income rose 1.5%, according to the Office for National Statistics.
Spain's Prime Minister Mariano Rajoy may take the OECD advice and carry out more intense adjustments in the labor code to overhaul current jobless rate of 26%. Country's economy is recovering from recession and is expected to satisfy budget deficit goal in 2013, yet there is a need to decrease borrowing costs in order to avoid austerity measures.
Latvia will become the 18th member of the Eurozone next year and the President of Latvia Andris Berzins says that it is a practical decision and the country will benefit from that. The biggest part of Latvians are against Euro adaptation; however, Berzins stressed that the reason behind that is the past experience, when the Soviet Union broke and a
European shares were little changed before the U.S. unemployment data that are expected to show a rise. The Stoxx Europe 600 Index grew 0.2% to 313.57 as of 8:05 a.m. London time; however, the equity-benchmark has fallen 0.3% weekly on worries that U.S. lawmakers could fail to agree on federal budget for the upcoming financial year.