European exports surged the most on record and corporate spending rebounded from a two-year slump in the second quarter, fueling the region’s fastest economic expansion in four years.
Exports from the 16-nation euro region jumped 4.4 percent from the first quarter, the biggest gain since data were first compiled in 1995, while corporate spending rose 1.8 [...]
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European Exports, Investments Spur Economy’s Recovery
September 2nd, 2010 by Financial Writer Tags: economic growth, economists, economy activity, european central bank, european economy, global recovery, interest rates
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Chinese manufacturing snaps out of slowdown
September 1st, 2010 by Financial Writer China’s manufacturing economy staged a moderate rebound in August after slowing for several months under the onslaught of government measures to rein in credit and deter property speculation.
Despite encouraging signs of stabilization in a pair of business surveys released on Wednesday, analysts cautioned that the robust domestic economy would have to battle the headwinds of [...]Tags: Chinese economy, economic activity, economic growth, economists, precious metal
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FOREX-Yen nears 15-year peak versus dollar; euro rises
August 31st, 2010 by Financial Writer * Market tests Japan’s willingness to intervene
* Dwindling U.S.-Japan yield gap seen hurting dollar
* Euro hits record low against Swiss franc on risk aversion (Adds detail, updates prices, changes byline, changes dateline, previous LONDON)
The yen rose toward a 15-year high against the dollar on Tuesday as investors shrugged off the Bank of Japan’s latest easing [...]Tags: bank of japan, currency market, Federal Reserve, financial, investors, wells fargo
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Japan Yen Intervention May Fail Without U.S., European Union Coordination
August 29th, 2010 by Financial Writer Any effort by Japan to weaken the yen after it rallied to a 15-year high may fail without help from the U.S. and the European Union, currency strategists say.
Speculation that Japan may intervene in the foreign- exchange market rose after Prime Minister Naoto Kan said Aug. 27 the government is ready to take “bold” action. [...]Tags: bank of japan, currency market, economic recovery, Global Economy, investors
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Bernanke Signals Fed Is Ready to Prop Up Economy
August 27th, 2010 by Financial Writer The Federal Reserve chairman, Ben S. Bernanke, said Friday that the central bank was determined to prevent the economy from slipping into a cycle of falling prices, even as he emphasized that he believed growth would continue in the second half of the year, “albeit at a relatively modest pace.”
To help sustain the economy, Mr. [...]Tags: ben bernanke, borrowers, central bank, economists, european central bank, Federal Reserve, IMF, interest rates
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China’s top banks face harsh reality after strong H1
August 26th, 2010 by Financial Writer Top Chinese lenders ICBC (1398.HK) and Bank of China (3988.HK) signaled a peaking of earnings growth after strong second-quarter profits, as they slowed their lending and focused on asset quality.
Chinese banks, which are trying to become more commercial and move away from their policy-based lending past, have benefited over the past year from a jump [...]Tags: bank of china, Chinese economy, economy recovery, financial system, Global Economy, money, real estate sector
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Canadian Stocks Fall as U.S. Manufacturing Data Trail Forecast
August 25th, 2010 by Financial Writer Canadian stocks fell for a third day after the U.S. reported a smaller increase in durable-goods orders than forecast and an unexpected drop in home sales.
Manulife Financial Corp., North America’s third-largest insurer, dropped 2.9 percent as U.S. new-home sales slumped to their lowest level on record. Canadian Imperial Bank of Commerce, the country’s fifth-biggest bank, [...]Tags: commerce department, economists, financial system, home sales, housing market, money, stock market, us unemployment
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Stocks drop on global economic worries
August 24th, 2010 by Financial Writer NEW YORK — Stocks retreated Tuesday as worries continue to mount about the pace of a global recovery.
U.S. traders braced for another disappointing report on the housing market later in the day. Overseas markets tumbled.
The Dow Jones industrial average fell more than 100 points in morning trading. Broader indexes also fell more than 1 percent. [...]Tags: Dow Jones Industrial, economic growth, global recovery, home sales, housing market, interest rates, mortgage rates, Nasdaq composite, stock market, unemployment rate
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Hoenig: Big banks may still threaten their smaller rivals
August 23rd, 2010 by Financial Writer Despite Dodd-Frank Act, community banks face ‘higher costs of capital’: Hoenig
Over 6,500 U.S. community banks may continue to face “higher costs of capital” than their big bank rivals even after a sweeping bank reform law has sought to end the ‘too-big-to-fail’ perception, Federal Reserve Bank of Kansas City President Thomas Hoenig said Monday.
“Because the market [...]Tags: banking sector, big banks, Capital economics, Federal Reserve, financial institutions, investors, recession, taxpayers
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Eight Banks Fail in Four States
August 22nd, 2010 by Financial Writer Eight banks were shuttered by regulators Friday, bringing the 2010 tally of U.S. bank failures to 118.
Six of the eight failed banks were included in TheStreet’sBank Watch List of undercapitalized institutions, based on second-quarter regulatory data provided by SNL Financial.
The Federal Deposit Insurance Corp. found buyers for the deposits and branches for all of the [...]Tags: bank of america, Bankruptcy News, banks, business, financial markets, financial system, wall street
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