Monday , 26 July 2021
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Category Archives: Global Economy

Dollar turns tail as Trump pulls ahead in fiercely contested US election The dollar sank more than three percent versus the yen and turned tail against other major peers on Wednesday in extremely volatile trade in global markets, as a fiercely contested US presidential election showed the outcome was too close to call.  Republican Donald Trump won the key battleground state of Ohio on Tuesday, was the projected winner in Florida ... Read More »

Canadian unemployment sticks at 7 pc despite 44,000 new jobs OTTAWA(Canada) : Canada created 44,000 jobs in October, according to the country’s Labor Force Survey released Friday — more than expected but not enough to reduce the seven percent unemployment rate. Economists had anticipated the unemployment rate would remain stable for a third consecutive month, predicting job growth of just 3,000 posts. The thousands of new jobs resulted from ... Read More »

US economy adds 161,000 jobs

The case for a rise in US interest rates has been bolstered by strong jobs data for October. The economy created 161,000 jobs last month and job creation for the months of August and September was revised up, reports BBC online The unemployment rate edged lower to 4.9%, according to the latest report from the US Department of Labor. The ... Read More »

No Brexit without parliamentary vote, court rules

International Desk Britain`s High Court brought government plans for leaving the European Union screeching to a halt Thursday, ruling that the prime minister can`t trigger the U.K.`s exit from the bloc without approval from Parliament. The government said it would go to the Supreme Court to challenge the ruling, which if upheld could prevent it starting exit talks by March ... Read More »

US election influence Asian markets

Global Business Desk Asian stocks struggled again Thursday, with uncertainty over next week’s presidential election sending investors rushing for the sidelines, pushing safe havens such as the yen and gold higher.  With just days to go until the November 8 poll, maverick tycoon Donald Trump has closed what was once considered an unassailable lead over market-favourite Hillary Clinton, upending early ... Read More »

Wall Street lower amid election jitters, tepid data

International Desk Wall Street slipped in late morning trading on Tuesday amid uncertainty surrounding the US presidential election and tepid construction spending data.  Construction spending in September unexpectedly fell, which could lead to a mild downward revision to the third-quarter economic growth estimate. Another set of data showed that while US factory activity increased for the second straight month in ... Read More »

Oil falls as non-OPEC yet to pledge concrete output steps

Oil prices extended declines on Monday after non-OPEC producers made no specific commitment to join OPEC in limiting oil output levels to prop up prices, suggesting they wanted the oil producing group to solve its differences first, reports  Officials and experts from OPEC countries and non-OPEC nations including Azerbaijan, Brazil, Kazakhstan, Mexico, Oman and Russia met for consultations in ... Read More »

UK consumers worry as weaker pound raises prices

British consumers turned less optimistic this month as sterling’s slump began to eat into their disposable income, according to two surveys on Friday which will raise concerns about the strength of future spending growth, reports Britain’s economy has performed better than most forecasts since June’s referendum decision to leave the European Union, in large part thanks to strong consumer ... Read More »

Dollar hits 7-month high, stocks set for weekly rise Global stocks were set for their first weekly gain in four weeks on Friday and the dollar rose to its highest since March, as the euro came under pressure after the European Central Bank shot down talk of tapering its easy money stance. The euro hit its lowest since March after the ECB left its ultra-loose policy unchanged on ... Read More »

EU sees Canada trade deal ‘next week’

  A troubled EU-Canada free trade deal can be signed “next week” despite the last minute opposition of the Belgian region of Wallonia, said EU Trade Commissioner Cecilia Malmstroem on Tuesday. “I am not sure we will be able to make a decision today, but hopefully we’ll move forward and can make a decision very ... Read More »