Economy

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Updated: 20 weeks 3 days ago

In a Peppy Second Quarter US economy Experiences a 4% Growth

Thu, 07/31/2014 - 09:38

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On Wednesday an initial data released by the government revealed that the US economy has shown some good results in the second quarter and has grown at an annual rate of 4 per cent.

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After Talks Fail With The Creditors Argentina Yet Again Falls into Default

Thu, 07/31/2014 - 09:34

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Late on Wednesday the talks between the U. S creditors and Argentina failed resulting in pushing the South American country into default for the second time in thirteen years along with shifting focus to concerns that are emerging out of worries of the effects that the default could have on the financial markets globally.

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Feds Expected to Trim Bond Purchases, Could Also Offer Hazy Clues on Interest Rates

Wed, 07/30/2014 - 13:03

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On Wednesday there were some clues to indicate that the U. S. Federal Reserve seems quite sure to move forward with its arrangement to wind down its stimulus for bond-buying, and also may offer some indistinct clues regarding how much closer it might be to ultimately raising the rates of interest.

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July HSBC Survey Reveal China PMI at All Time High in 18-months

Thu, 07/24/2014 - 12:55

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The factory activity in China expanded at the speediest rate in the last 18 months during July as a result of growing new orders. This fact was brought to notice on Thursday by a survey conducted by HSBC. It is the latest sign that suggests that the economy is gaining speed towards growth as the government's measures of incentives also work its bit.

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Huawei Technologies’ sales revenue up by 19% for first half of 2014

Mon, 07/21/2014 - 12:16

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Huawei Technologies chief financial officer Cathy Meng on Monday reported that the company's sales revenue has increased by 19 % for the first half of 2014 to 135.8 billion yuan. Further, he added that the revenue and profit for the first half of 2014 are in line with company's expectations.

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Erasing Overnight Gains, Yen Weaken Against Rivals Following News of Malaysia Jet Crash

Fri, 07/18/2014 - 11:41

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On Friday, the yen fell weak against some or the major Asian currencies as the investors started to buy rival currencies on the plunge when the yen had gained quickly due to its apparent safety in the stir of uncertain geopolitical developments.

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Dollar Holds a Steady Position as Key Events Impend

Mon, 07/14/2014 - 11:35

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On Monday the major currencies dollar, euro as well as the yen started trade almost where they closed during the last week. Investors are now looking forward to key events which include Janet Yellen the Federal Reserve Chair's congressional testimony for new indications.

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Crude oil prices slip for 7th consecutive day

Sat, 07/05/2014 - 11:17

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Crude oil prices slipped below $104 a barrel for the seventh day in a row on Friday, despite strong U. S. employment data that indicated the world's biggest economy is steadily improving.

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U.S. unemployment rate slips to 6.1% in June

Fri, 07/04/2014 - 09:36

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The U. S. economy generated more jobs in the month of June, dragging the unemployment rate to near its six-year low, the Labor Department said in its latest report on Thursday.

According to the employment report, nonfarm sector generated 288,000 jobs during last month and the unemployment rate slipped from 6.3 per cent in May to 6.1 per cent in June.

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China’s manufacturing sector grows for first time in 6 months

Tue, 07/01/2014 - 13:32

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Chinese economy enjoyed a growth in its manufacturing activity for the first time in six months in June this year but the growth was quite weak, a private survey showed.

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Calif. Senate deadlocks on $10.5-billion water bond

Tue, 06/24/2014 - 11:15

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Draught-hit California's multi-billion water bond measure SB 848 will not be put on November ballot as supporters of the measure could not muster the required two-thirds vote.

The California Senate deadlocked on the $10.5-billion water bond measure on Monday as it could garner only 22-9 vote, with some members abstaining.

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Auto club AAA: Average cost of regular gas in Ohio rises to $3.93; US-wide average $3.67 a gallon

Tue, 06/03/2014 - 11:19

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According to a Monday-released survey carried out by auto club AAA, the Oil Price Information Service and WEX Inc., the average price of one gallon of regular gas in Ohio was $3.93; one dime higher than the average cost of gas in the state a week back.

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Spain Plans to spend $8.2 Billion to boost growth

Mon, 06/02/2014 - 04:15

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Spanish Prime Minister Mariano Rajoy informed that his government will divulge a package worth 6.3 billion euros ($8.6 billion) as stimulus to increase efficiency and competitiveness for the fifth-largest economy of Europe.

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House Prices Biggest Risk To Economy: Carney

Sun, 05/18/2014 - 13:29

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According to the Governor of the Bank of England growing house prices signify the biggest risk that the economy faces. He said, the British housing market has "deep, deep" problems. He also added that the large number of mortgages being permitted to the house buyers is also rising at a great speed.

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Student Loans in America Surpass Credit Card and Auto Loan Debt Totals

Sun, 05/18/2014 - 08:28

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Student loans rank as the second biggest source of personal debt in the United States only after mortgages. It has surpassed the totals of credit cards and auto loans. Senate Democrats, who are aware of rising public concern over the matter, are keeping the issue of student loans as one of their apex election plank for the year.

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Ireland Upgraded by Moody's Again After Bailout Exit

Sun, 05/18/2014 - 08:20

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On Friday, Moody's Investors Service upgraded the credit ratings of Ireland giving an extra vote of confidence to the first country in the euro zone to complete an EU/IMF bailout last year. Moody's raised its rating of Ireland by two notches from BAA3 to BAA1 and with a stable outlook.

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San Joaquin County Experience a Rise in Employment

Sat, 05/17/2014 - 13:12

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On Friday, the state employment officials reported that the unemployment rate of San Joaquin County has declined in April. It fell to an approximate 11.7 percent from an adjusted 13.1 percent in March. It is now well below what was seen in April 2013, when the jobless rate was 13 percent.

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Switzerland to Vote for Setting Minimum Wage At $25/hr

Sat, 05/17/2014 - 13:02

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Switzerland no doubt is a rich country and it is also enjoying a rate of growth and employment that is above European average. On an average, each of the country's households enjoys about $30,000, as net disposable income as compared to an average of $23,000 in the other OECD, which is a group formed by the strongest 34 economies of the world.

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U.S. Steel Plan on a ‘Headcount Reduction’ Worldwide

Sun, 05/04/2014 - 08:43

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Planning on "headcount reductions", U.S. Steel Corp. is going to layoff a number of employees throughout the world which also includes some in Pittsburgh. The company is essentially doing this to save money.

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Thomas Piketty’s Economics Appeal to People

Sun, 05/04/2014 - 08:19

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Thomas Piketty, the French elite scholar, wrote a book called 'Capital in the Twenty-First Century', and within one month of its English version on the stores, the book has become a great hit with the people.

At the moment, all the printed copies in English have been sold out and the book has reached the top most spot on online marketplace Amazon.

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