Hot finance and business news.
Japan's economy will probably shrink at an annual 12.1 percent pace this quarter, the sharpest drop since 1974, as exports collapse, Barclays Capital said.
Gross domestic product in the three months ending tomorrow will fall at almost three times the 4.1 percent rate previously predicted, said Kyohei Morita, chief Japan economist at Barclays in […]
Filed under: legal by Finance Boss
Comments Off
The number of Americans filing for first-time unemployment benefits rose to a 26-year high last week, according to a government report released Wednesday.
The Labor Department said that initial filings for state jobless benefits rose to 586,000 for the week ended Dec. 20. That was an increase of 30,000 from the 556,000 revised figure for […]
Filed under: business by Finance Boss
Comments Off
South Korea’s government will ensure that the economy keeps growing next year, President Lee Myung Bak said.
“Economies worldwide will worsen as time goes by,” Lee said at a meeting at the presidential house in Seoul yesterday, according to the presidential office Web site. “Even if other economies post negative growth, I believe we […]
Filed under: finance by Finance Boss
Comments Off
The Japanese government lowered its assessment of the economy for a third month, describing conditions as the most severe since 2002.
“The economy is worsening” the Cabinet Office said in a monthly report in Tokyo today, the first time it used the language in more than six years. It last month said the economy […]
Filed under: marketing by Finance Boss
Comments Off
German producer prices dropped the most since records began in 1949 in November as the cost of oil declined and the global economic slowdown curbed demand.
Prices fell 1.5 percent from October when they were unchanged, the Federal Statistics Office in Wiesbaden said today. Economists forecast a decline of 0.8 percent, according to the […]
Filed under: economics by Finance Boss
Comments Off
Turkey’s central bank cut the benchmark interest rate by 1.25 percentage points, the largest rate reduction in four years, as it attempts to steer the economy away from recession.
The overnight borrowing rate was reduced to 15 percent, the bank in Ankara said in an e-mail today. Twelve of 13 economists surveyed by Bloomberg […]
Filed under: finance by Finance Boss
Comments Off
New Zealanders are more optimistic about the outlook for the housing market following reductions in borrowing costs, according to an ASB Bank Ltd. survey.
Forty-five percent of 600 people surveyed said it is a good time to buy property compared with 37 percent in the previous survey in August, Auckland-based ASB said in a […]
Filed under: online by Finance Boss
Comments Off
U.K. house prices extended declines in December and will drop a further 10 percent next year as the recession batters the British economy, Rightmove Plc said.
The average price advertised by sellers fell 2.3 percent on the month to 217,808 pounds ($325,993), the operator of the U.K.’s biggest residential property Web site said today. […]
Filed under: legal by Finance Boss
Comments Off
China’s exports fell for the first time in seven years, more evidence that recessions in the U.S., Europe and Japan are driving the world’s fourth-largest economy into a slump.
Exports declined 2.2 percent in November from a year earlier, the customs bureau said in a statement on its Web site today. Imports plunged 17.9 […]
Filed under: online by Finance Boss
Comments Off
Industrial production in Germany, the world’s biggest exporter, fell more than economists forecast in October after demand for plant and machinery faltered.
Output dropped a seasonally adjusted 2.1 percent from September, the Economy Ministry in Berlin said today. Economists expected a decline of 1.9 percent, the median of 39 forecasts in a Bloomberg News […]
Filed under: money by Finance Boss
Comments Off