Oct 31, 2014

The strengthening U.S. growth reflects help from Fed

The U.S. economy powered its way to a solid annual growth rate of 3.5 percent from July through September, outpacing most of the developed world and appearing on track to extend its momentum through this year and beyond. The result is not a fluke. ...

Oct 31, 2014

Wall St. up on GDP, earnings; fund yearend lifts winners

U.S. stocks rose on Thursday, boosted by a strong reading on quarterly economic growth and by another round of upbeat earnings reports, including Visa, which accounted for nearly 140 points in the Dow industrials. Despite the bullish data and the Federal Reserve’s Wednesday statement ...

Oct 15, 2014

More than 82 million in poverty in China: official

More than 82 million people in China still live on less than about $1 a day, a senior official said, despite a decades-long boom that made it the world’s second-largest economy. China’s official poverty standard is an annual income of 2,300 yuan ($375), close ...

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 ...

World ministers step up effort against Ebola

Oct 12, 2014

World ministers step up effort against Ebola

World financial leaders promised swift action against Ebola at the fall meeting of the IMF and World Bank on Saturday as countries across the world scrambled to stem the deadly outbreak, which U.N. officials warn is getting worse. Officials also pledged to act boldly ...

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 ...

Sep 15, 2014

OECD cuts growth outlook for G-7, worried about eurozone

The OECD on Monday cut its economic outlook for the Group of Seven nations in 2014, including Japan, while expecting a moderate expansion to continue in most of the major economies. In its interim economic assessment report, the Paris-based organization also said the “most ...

Sep 11, 2014

BOJ adviser Kawai urges Abe to proceed with second tax hike

The Abe administration should proceed with the next consumption tax hike as planned to signal it is serious about reining in the world’s biggest debt burden, an adviser to Bank of Japan Gov. Haruhiko Kuroda said. Annualized growth of 2.5 percent or more this ...

Sep 9, 2014

Abe needs more stimulus to raise sales tax, adviser Itoh says

The administration should consider a supplementary budget this year and will need to add stimulus for the economy to weather the planned increase in the consumption tax in 2015, according to Motoshige Itoh, a member of an advisory panel to Prime Minister Shinzo Abe. ...