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 [...]
Posts Tagged ‘Global Recession’
China Tops Japan as World’s No. 2 Economy
August 16th, 2010 by Financial Writer
Tags: Chinese economy, economic growth, economists, economy, Global Economy, Global Recession, japan's economy
more...Bernanke Says the Federal Debt Is ‘Unsustainable’
June 9th, 2010 by Financial Writer
WASHINGTON — The chairman of the Federal Reserve, Ben S. Bernanke, warned on Wednesday that “the federal budget appears to be on an unsustainable path,” but also recognized that the “exceptional increase” in the deficit had been necessary to ease the recession.
Mr. Bernanke’s comments before a hearing of the House Budget Committee, reiterated his view [...]
Tags: busimess, economic recovery, economy recovery, european economy, federal debt, Federal Reserve, financial, financial markets, Global Recession, recession, United States economy, us economy
OIL FUTURES: Oil Weakens Post-Rally, Traders Eye Fed Meeting
April 26th, 2010 by Financial Writer
Crude oil futures declined Monday morning, losing ground as traders feared last week’s strong economic data that pushed oil above $85 a barrel may also push the Federal Reserve closer toward eventually raising interest rates.
Light, sweet crude for June delivery declined 56 cents to $84.56 a barrel on the New York Mercantile Exchange. Brent crude [...]
Tags: business, economy, Federal Reserve, financial, financial markets, Global Economy, Global Recession, investors, oil prices
IMF says global economy to grow 4.2 pct this year
April 22nd, 2010 by Financial Writer
WASHINGTON — The International Monetary Fund said Wednesday that the global economy, after enduring a crippling recession, should see better-than-expected growth this year, led by strength in China and other developing nations.
In an updated economic outlook, the IMF forecast that the world economy would expand 4.2 percent this year, faster than its previous projection and [...]
Tags: economy recovery, Federal Reserve, financial, financial crisis, Global Economy, Global Financial, Global Recession, us economy, us treasury
Bank Of China Picks Banks For $6B Share Sale - Source
April 13th, 2010 by Financial Writer
HONG KONG (Dow Jones)–Bank of China Ltd. (3988.HK) has picked five banks to underwrite its US$6 billion sale of Hong Kong-listed shares, a person familiar with the deal said Tuesday, moving a step closer to bulking up its capital base after an explosion in lending last year.
The person said the five banks are BOC International [...]
Tags: banks, China, Dow Jones Industrial, financial crisis, Global Economy, Global Recession, us economic, wall street
Japan has become the latest country to pull out of recession.
August 17th, 2009 by Financial Writer
It follows news last week that the economies of France and Germany have also narrowly moved back into growth.
Japan’s economy grew 0.9% in the three months to June, ending its longest recession since the Second World War. It was largely due to a rebound in exports and the attempts being mounted by governments around the [...]
Tags: economies, Global Recession, japan, recession
The future of the financial system (South Africa)
June 11th, 2009 by Financial Writer
While financial institutions in South Africa and around the world have been rocked by the global financial crisis, they need to move out of survival mode and start charting a course towards promoting long-term financial stability and growth.
That was the message from Rogan Davies, head of Financial Services at professional consulting organisation The IQ Business [...]
Tags: financial system, Global Recession, South Africa Finance
A barrel of oil crosses $69 for the first time this year; gasoline prices rise
June 2nd, 2009 by Financial Writer
Oil prices briefly passed $69 per barrel Tuesday in a weeklong rally that appears short on fundamentals, yet exceedingly full of momentum.
Average retail gasoline prices continued to march upward: A gallon now costs about 46 cents more than it did a month ago.
After peaking at $69.05 Tuesday afternoon, a price not seen since early November, [...]
Tags: Global Recession, London Financial, Petrochemical
GM bankruptcy: End of an era
June 1st, 2009 by Financial Writer
After years of losses, the troubled automaker is forced into bankruptcy. GM is set to close a dozen facilities and cut more than 20,000 jobs.
General Motors filed for bankruptcy protection early Monday, a move once viewed as unthinkable that became inevitable after years of losses and market share declines capped by a dramatic plunge in [...]
Tags: Global Recession, USA, World Financial
UN General assembly resechudle conference on world financial, economic crisis.
May 27th, 2009 by Financial Writer
The General Assembly this morning announced its decision to reschedule the Conference on the World Financial and Economic Crisis and Its Impact on Development to 24 to 26 June, from its previously-scheduled dates of 1 to 3 June, and, on another matter, appointed Gönke Roscher of Germany to the Committee on Contributions to a term [...]
Tags: Global Recession, World Financial