Business Topics

Oct 13, 2014

Ebola claims another victim: struggling African economies

After killing thousands in Africa and terrifying millions more, the Ebola virus is claiming a new victim: the economies of what are already some of the world’s poorest countries, experts say. “Our development agenda was interrupted by the Ebola outbreak which started in March ...

OECD chief tells Japan to go for second stage of sale tax hike

Oct 12, 2014

OECD chief tells Japan to go for second stage of sale tax hike

The Japanese government should decisively raise the consumption tax rate to 10 percent in October 2015 as planned to tackle its massive debts, Angel Gurria, secretary-general of the Organization for Economic Cooperation and Development, said. “When you have such a very large debt to ...

Global finance leaders pledge bold efforts for growth

Oct 12, 2014

Global finance leaders pledge bold efforts for growth

World financial leaders on Saturday promised “bold and ambitious” action to boost a global recovery that has shown recent disturbing signs of weakness. That pledge from the International Monetary Fund’s policy-setting committee came after a week of stomach-churning swings in the financial markets triggered ...

Top finance officials in G-20 grapple with weak growth

Oct 11, 2014

Top finance officials in G-20 grapple with weak growth

Finance ministers from the world’s largest economies said Friday they are determined to prevent a slide into another global recession, but a top U.S. official expressed frustration that a number of major economies were not doing enough to increase growth. After two days of ...

Oct 10, 2014

Drop in U.S. jobless claims points to labor market strength

The number of Americans filing new claims for unemployment benefits fell last week to nearly its lowest level since before the 2007-09 recession, a sign of growing steam in the U.S. labor market. Initial claims for state unemployment benefits dropped 1,000 to a seasonally ...

August machinery orders bounce back from plunge in May

Oct 9, 2014

August machinery orders bounce back from plunge in May

Core private-sector machinery orders rose a seasonally adjusted 4.7 percent from a month earlier in August to ¥807.8 billion, data showed Thursday, prompting the government to upgrade a leading indicator of capital spending. Core orders, excluding those for ships as well as from utilities ...

Kuroda says many options available for increased easing

Oct 9, 2014

Kuroda says many options available for increased easing

The Bank of Japan has “many options” for additional easing, Gov. Haruhiko Kuroda said, emphasizing that the bank will adjust its policy as needed to reach its 2 percent inflation target. “We have substantially increased our JGB holdings but still it’s about 20 percent ...

Oct 9, 2014

Dovish Fed minutes reveal global slowdown worries

Federal Reserve officials stressed “patience” in waiting to raise interest rates, worrying about weaker foreign economic growth and the stronger dollar, minutes of their September policy meeting showed Wednesday. Participants at the Federal Open Market Committee meeting discussed their concerns about the stronger dollar ...

Oct 8, 2014

IMF slashes economic growth projection for Japan

The International Monetary Fund on Tuesday slashed its projection for Japan’s economic growth by the most of any developed country, while also cutting its growth estimate for the global economy in view of mounting geopolitical tensions. In its semiannual World Economic Outlook report, the ...