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Category Archives: Global Economy

Investor optimism, global economic reality may clash in 2017

Investors sound optimistic about a breakout for the world economy next year, but for all the talk of huge tax cuts from the incoming US presidency of Donald Trump, the economic outlook looks similar to 2016: uneven and unspectacular, reports  Accelerating inflation and a soaring US dollar as the Federal Reserve raises interest rates are also risks to the ... Read More »

Wells Fargo fails US bankruptcy test for a second time

BBC Online US bank Wells Fargo has been hit with restrictions after attempts to fix issues with its bankruptcy plan failed. Banks labelled “too big to fail” must have a so-called “living will” that would allow them to close down without the help of public money. Wells Fargo will be barred from opening international branches and buying non-bank companies until ... Read More »

Oil prices surge on output deal World oil prices surged Monday after non-OPEC producers struck a deal to cut output, while Europe’s main stock markets were subdued before a key Fed meeting due this week.  Indices in London, Frankfurt and Paris steadied after soaring last week when the European Central Bank decided to extended its massive quantitative easing (QE) stimulus to December 2017. At the ... Read More »

OPEC, non-OPEC agree first global oil pact

BBC Online OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries.  With the deal finally signed after almost a year of arguing within the Organization of the Petroleum Exporting ... Read More »

Japan cuts GDP growth for third quarter

Global Business Desk TOKYO :Japan’s economy grew less than expected in the third quarter with a 0.3 percent expansion, revised data showed Thursday, a number that will likely fan fears that Tokyo’s growth plan has run out of steam. The latest figures were lower than an initial estimate of 0.5 percent growth in the July-September period, largely due to a ... Read More »

Oil prices fall further in Asia, yen gains hit Tokyo

HONG KONG : Oil prices sank further in Asian trade Monday on fears a planned cut in output will not be agreed by top producers this week, while the dollar retreated against most of its peers after its recent surge. Both main crude contracts slumped around four percent on Friday owing to disagreements over how to implement a reduction deal, ... Read More »

UK wealth falls $1.5 trillion after Brexit FX moves: Credit Suisse

Britain is $1.5 trillion poorer in dollar terms due to the fall in the pound since the vote to leave the European Union, a Credit Suisse study on global wealth found, reports Reuters. Since the referendum on June 23, the pound has weakened by around 16 percent against the dollar, meaning UK wealth is sharply lower expressed in dollar. The ... Read More »

Dollar hits 13-1/2 year high, US bond yields gain on Trump stimulus bets

The dollar sprinted to a more than 13-1/2 year high against a basket of major currencies on Friday and US debt yields hit near one-year highs on expectations that President-elect Donald Trump’s policies will boost the US economy, reports agencies  But the post-election shift in expectations has left many emerging market currencies and assets vulnerable if investors rotate more funds back to ... Read More »

Alibaba rakes in $5 billion in 1 hour

  Alibaba Group Holding Ltd’s Singles’ Day sales surged past last year’s 91.2 billion yuan ($13.36 billion) total with nearly nine hours left on the clock, but growth was markedly slower than in 2015 as shoppers sought even bigger price cuts, reports BBC online Amid fanfare and celebrity razzmatazz, sales on Alibaba’s platforms had raced to a billion dollars in ... Read More »

Japan, India sign nuclear pact for non-military use Japan and India signed a civilian nuclear accord today opening the door for Tokyo to supply New Delhi with fuel, equipment and technologies for nuclear power production, as India looks to atomic energy to sustain its rapid economic growth. It was the first time Japan, the only country to have suffered a nuclear attack, has concluded such a pact ... Read More »