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European Central Bank Governing Council member Yves Mersch said the bank has done everything it can to fight the financial crisis, suggesting he sees no scope to expand emergency policy measures.
“I think the ECB has done all that it could to alleviate the consequences of the financial crisis,” Mersch told reporters in Luxembourg […]
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Reports on U.S. manufacturing and home building will probably show the recession is within months of hitting bottom, economists said before reports today.
A 1 percent drop in industrial production last month, based on the median of 73 estimates in a Bloomberg News survey, was due mainly to auto-industry shutdowns that swamped gains elsewhere, […]
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The British economy won’t start growing again until 2010 and the Bank of England may need to expand its money-printing plan to underpin the recovery, the Confederation of British Industry said.
Gross domestic product will fall 0.3 percent in the second quarter and 0.1 percent in the third, and will stop shrinking in the […]
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Pakistan has asked the International Monetary Fund for a $4 billion stand-by loan to be used if foreign donors fail to deliver aid needed to fund a widening budget deficit.
The IMF facility is “insurance” if pledged assistance is delayed or does not arrive, Shaukat Tarin, finance adviser to the prime minister, told reporters […]
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Happy three-month birthday, stock market rally!
The S&P 500 finished on March 9 at 676.53, its lowest close of the year. (Technically, the market hit its nadir on March 6 when the S&P 500 hit the demonic level of 666.79. But you catch my drift.)
It’s hard to believe that only three months ago investors […]
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Fewer Americans filed claims for unemployment benefits last week, indicating the deepest job cuts may be subsiding even as companies hold off on hiring.
Initial jobless claims fell by 24,000 to 601,000 in the week ended June 6, fewer than forecast and the lowest level since January, from a revised 625,000 the prior week, […]
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The U.S. trade deficit probably widened in April for a second month as imports climbed because of higher oil costs, economists said before a report today.
The gap increased to $29 billion from $27.6 billion in March, according to the median forecast of 73 economists surveyed by Bloomberg News. The shortfall reached a nine-year […]
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Financier George Soros said on Sunday that China’s global influence is set to grow faster than most people expect, with its isolation from the global financial system and a heavy state role in banking aiding a relatively swift economic recovery.
He reiterated his cautious views regarding the surge in global stock markets, although he said […]
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Turkish industrial output probably fell in April for the ninth consecutive month as the global economic crisis slashed demand at home and abroad, driving the country into recession, a survey showed.
Output slid 18 percent from the year earlier, according to the median estimate of 10 economists surveyed by Bloomberg, following a decline of […]
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U.K. consumer confidence increased in May to the highest level in six months as shoppers became more hopeful that the economy will emerge from recession, Nationwide Building Society said.
An index of sentiment rose 2 points to 53, Britain’s biggest customer-owned lender said in an e-mailed statement today. It based the report on a […]
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