President Obama on Wednesday called for an end to the Bush-era tax cuts for the wealthy, saying the country cannot afford $700 billion in tax breaks that benefit “millionaires and billionaires.”
Unveiling his economic agenda for the fall campaign in a lengthy and sharply populist speech that sought to appeal to the middle class, Mr. Obama [...]
Posts Tagged ‘Global Economy’
Obama Lays Out Economic Proposals and Assails G.O.P.
September 8th, 2010 by Financial Writer
Tags: banks, economic growth, financial system, Global Economy, interest rates, loans, stock market, us economic
more...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
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
Bundesbank boosts Germany’s growth outlook
August 19th, 2010 by Financial Writer
The Bundesbank said Thursday that Germany’s economy is on track to generate growth of around 3% for 2010 and that there is little chance of the United States going back into recession.
The assessment in the German central bank’s monthly report for August was credited with temporarily lifting U.S. stock index futures, while European shares extended [...]
Tags: banks, central bank, economists, economy recovery, european central bank, european markets, germany, Global Economy, money
China Tops Japan as World’s No. 2 Economy
August 16th, 2010 by Financial Writer
China surpassed Japan as the world’s second-largest economy last quarter, capping the nation’s three- decade rise from Communist isolation to emerging superpower.
Japan’s nominal gross domestic product for the second quarter totaled $1.288 trillion, less than China’s $1.337 trillion, the Japanese Cabinet Office said today. Japan remained bigger in the first half of 2010, the government [...]
Tags: Chinese economy, economic growth, economists, economy, Global Economy, Global Recession, japan's economy
Asian Reserves Jump in July as Euro Soars
August 10th, 2010 by Financial Writer
Asia’s foreign exchange hit a record high in July as the region’s fast-growing economies kept attracting strong inflows amid sluggish growth in the developed world, burnishing the role of Asian central banks as key players in the currency market.
Reserves held by 11 key Asian central banks, excluding China’s, amounted to $2.861 trillion at the end [...]
Tags: asian markets, Chinese economy, dow jones, european economy, financial markets, Global Economy, Global Markets, IMF, monetary
Unemployment report portrays stagnant job market
August 6th, 2010 by Financial Writer
Private business added only 71,000 new net jobs in July as payrolls fell for a second straight month nationally, the Labor Department reports.
The employment picture in the U.S. remained bleak last month as the nation’s payrolls fell for a second straight month, with private-sector businesses adding a disappointingly scant number of new jobs. The jobless [...]
Tags: business, economic indicators, economists, financial system, Global Economy, money, unemployment, unemployment rate, us economic, us economy
U.S. Treasury to Sell $74 Billion in Long-Term Debt Next Week
August 4th, 2010 by Financial Writer
The U.S. Treasury Department plans to sell $74 billion in its quarterly sales of long-term debt next week, as lower projected budget deficits allow the government to reduce borrowing at a “gradual pace.”
The Treasury is starting to scale back auction sizes, after expanding debt sales to finance annual budget deficits exceeding $1 trillion for the [...]
Tags: borrowers, economic growth, economic recovery, federal economic, financial, Global Economy, US Finance, us treasury
China’s Slowing Economy Will Stabilize, Avoid Slump, Central Bank Predicts
July 27th, 2010 by Financial Writer
China’s central bank said the slowdown in growth in the world’s third-largest economy will likely stabilize, helping the nation avoid a slump during the second half of the year.
The economy’s fundamentals remain “good,” the People’s Bank of China said on its website today. China’s decreasing dependence on exports also means the European debt crisis is [...]
Tags: bank of china, Chinese economy, debt crisis, economic growth, economists, european economy, financial system, Global Economy, inflation, interest rates, loans
Bernanke Says Extending Bush’s Tax Cuts Would Maintain Economic Stimulus
July 24th, 2010 by Financial Writer
Federal Reserve Chairman Ben S. Bernanke said extending at least some of the tax cuts set to expire this year would help strengthen a U.S. economy still in need of stimulus and urged offsetting the move with increased revenue or lower spending.
“In the short term I would believe that we ought to maintain a reasonable [...]
Tags: ben bernanke, economic recovery, economists, Federal Reserve, Global Economy, interest rates, unemployment rate, us, us economy, us stocks