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Category Archives: Global Economy

European stock markets rally as volatility continues

BBC online European stock markets have staged a recovery after a week of precipitous falls and volatility. London’s FTSE 100 index was up nearly 1% in mid-morning trading, while Germany’s Dax and France’s Cac 40 were both up 1.5%. Concerns over a weakening European economy and downwardly revised growth forecasts from the International Monetary Fund had unsettled investors. But better-than-expected ... Read More »

Global share price continues sliding

BBC Online US shares opened sharply lower on Thursday, tracking big losses on European and Asian stock markets. Wall Street’s Dow Jones, S&P 500 and Nasdaq indexes fell more than 1% on continuing concerns about global economic growth and the Ebola crisis. The sell-off follows heavy losses in the US, Europe and Asia on Wednesday. Meanwhile, the borrowing costs for ... Read More »

Concerns rise over US-EU trade talks

BBC Online There are rising concerns in Europe over negotiations to liberalise trade with the United States. The project, the Trans-Atlantic Trade and Investment Partnership, or TTIP, aims to remove a wide range of barriers to bilateral commerce. Opponents are planning demonstrations and protests across Europe on Saturday, with large numbers of events in Germany, France, Spain and Italy, In ... Read More »

Shares fall further across Europe on economy fears

BBC Online European stock markets have seen sharp falls as fears deepen over prospects for the global economy. London’s FTSE 100 share index was down 1% at 6365.72. France’s Cac 40 index was also down 1% while Germany’s Dax fell 1.7%. Poor economic data from Germany this week has stoked fears that the eurozone could be heading for another recession. ... Read More »

China surpasses US as world’s largest economy China has toppled America to become the biggest economy in the world, according to figures from the International Monetary Fund. The US has been the global leader since it overtook Britain in 1872, but has now lost its status. The latest IMF figures show the Chinese economy is worth $17.61 trillion compared with $17.4 trillion for the US. The ... Read More »

German exports falls sharply as economy falters

BBC Online German exports fell sharply in August as later school holiday schedules and uncertainty over Ukraine combined to produce the largest monthly drop in five years. Exports fell 5.8% compared with July, German’s Federal Statistical Office reported, while imports fell 1.3%. Its trade surplus shrank to €17.5bn (£13.8bn) as as result. This latest news follows weak industrial output figures ... Read More »

End of Swiss banking secrecy in sight by 2018

GENEVA: Switzerland’s embattled banking secrecy could be dealt a final death blow in 2018, after the government decided yesterday to launch talks with other nations on the automatic exchange of account details.In a statement, the government said it had “adopted definitive negotiation mandates for introducing the new global standard for the automatic exchange of information in tax matters with partner ... Read More »

IMF warns of ‘weak and uneven’ global recovery

BBC Online The International Monetary Fund has cut its forecast for global economic growth for both this year and next and warned the recovery is “weak and uneven”. It is now forecasting 3.3% growth this year, down from its forecast in July of 3.4%. Next year, it predicts 3.8% growth, against an earlier prediction of 4.0%. The reductions reflect sharp ... Read More »

US unemployment rate hit a six-year low in September

BBC Online The US unemployment rate dipped to 5.9% in September, a six-year low, official figures have shown. The rate fell from 6.1% in August and is the lowest recorded since July 2008. US Labor Department also said that employers added 248,000 jobs last month, and the job growth figures for August and July were revised upwards. The jobs figures ... Read More »

Oil price hits two-year low after Saudi price cut

BBC Online Global oil prices have fallen to their lowest level in more than two years after Saudi Arabia cut its official selling price. Concerns of oversupply after higher output in the US, together with forecasts of lower global demand by the International Energy Agency (IEA), are driving prices down. Brent crude fell by more than 1% to $93 a ... Read More »