Chinese industrial output, investment and credit growth accelerated in August, suggesting the economic recovery is on a solid course, but Beijing is unlikely to hit the policy brakes too hard to avoid derailing it. Asian shares edged up as the data supported regional recovery hopes, while the Australian dollar cut losses against the dollar and
More
Asian shares edged up on Friday as strong Chinese economic data supported regional recovery hopes, but Japanese exporters were hurt by a stronger yen as the dollar fell to its lowest in a year against a basket of currencies. Robust retail, production and investment data for August indicated China's economy is accelerating and Beijing said
More
The U.S. trade deficit increased the most in more than 10 years in July as rebounding consumer demand led to a record increase in imports, a government report showed on Thursday. The trade gap expanded 16.3 percent in July to $32.0 billion, the biggest month-to-month increase since February 1999. Imports leapt a record 4.7 percent
More
Global oil demand will be almost 0.5 million barrels per day (bpd) higher than previously forecast this year and next on stronger-than-expected U.S. and Chinese fuel consumption, the International Energy Agency said. The IEA, adviser to 28 industrialised economies, said on Thursday world oil consumption would average 84.4 million bpd in 2009 — down 2.2
More
World equities pulled back from an 11-month high on Thursday in the face of a likely weaker opening on Wall Street. Rising inflation expectations in Europe underlined the headwinds facing the global economy as it struggles to recover, while there is also caution about the immediate future of the six-month rally in global stocks. Emerging
More
Oil rose towards $72 a barrel on Thursday, supported by OPEC's decision to hold output steady and forecasts by the International Energy Agency that global demand will be higher this year and next than it previously forecast. Equity markets rising to 11-month highs, although they later pulled back, and a fall in U.S. crude oil
More
U.S. mortgage foreclosure filings in August hovered near July's record high despite broad efforts to keep borrowers in their homes and will probably rise for another year, according to a report released on Thursday. Filings — including notices of default, auction and bank repossession — dipped 1 percent last month from July's all-time high and
More
The Bank of England left interest rates at a record low of 0.5 percent for the sixth month running on Thursday and said it would keep its 175 billion pound asset buying programme in place. Most analysts had predicted status quo after last month's shock decision to raise the amount of money the BoE is
More
Stock index futures were weaker on Thursday, easing after the S&P 500 benchmark index racked up its highest closing level for the year, while investors awaited data on the labor market. Texas Instruments Inc (TXN.N) will be in the spotlight after the company raised its forecast for third-quarter earnings after the bell on Wednesday, expecting
More
The 2009 stock market rally continued unabated on Thursday with world equities at an 11-month high, emerging market stocks moving further beyond pre-Lehman demise levels and Japan's index up nearly 2 percent. The dollar, which has suffered from investors' improved appetite for risk, weakened against a basket of major currencies and was at depths last
More