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President Barack Obama said job losses are “bottoming out” and the U.S. economy looks to be growing again even as he warned against cutting off government aid “so soon that the recovery doesn’t take flight.”
Obama, speaking to Bloomberg News one year after the bankruptcy of Lehman Brothers Holdings Inc. crippled the economy, voiced […]
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The Organization for Economic Cooperation and Development predicted a “modest” recovery for the world’s leading industrialized economies as it cut its estimate for their recession this year.
The combined economy of the Group of Seven nations will shrink 3.7 percent this year, less than the 4.1 percent projected in June, the OECD said in […]
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Taiwan’s economy probably shrank at a slower pace in the second quarter as exports to China improved, indicating the island may be recovering from its first recession since 2001.
Gross domestic product contracted 7.8 percent in the three months through June, according to the median estimate in a Bloomberg News survey of 17 economists, […]
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Foreigners renewed purchases of American financial assets in June, as investors sought safe haven in Treasuries amid concerns about the timing of a recovery in financial markets and economies worldwide.
Total net purchases of long-term equities, notes and bonds were a net $90.7 billion, more than forecast and compared with net sales of $19.4 […]
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Spain’s economy contracted more than forecast in the second quarter, suggesting a recovery in Germany and France has yet to reach a country that was once an engine of growth for the euro region.
Gross domestic product declined 1 percent from the previous quarter, when it shrank 1.9 percent, the Madrid-based National Statistics Institute […]
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Bulgaria will apply in November to join the exchange-rate mechanism, the European Union’s two-year currency stability test before the country can drop the lev and adopt the euro, Finance Minister Simeon Djankov said.
“We have already started preparing the necessary documentation to apply to join ERM in November,” Djankov said in an interview in […]
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Singapore’s industrial production fell for the first time in three months in June as electronics and chemicals output dropped and a surge in pharmaceuticals manufacturing eased.
Manufacturing, which accounts for about a quarter of Singapore’s economy, declined 9.3 percent from a year earlier following a revised 2.1 percent gain in May, the Economic Development […]
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Japan’s household sentiment rose for a sixth month in June, adding to signs that the deepest postwar recession may be easing.
The confidence index climbed to 37.6 from 35.7 in May, the Cabinet Office said today in Tokyo. It has improved every month since tumbling to a record low of 26.2 in December. A […]
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American specialty clothing retailer Eddie Bauer Holdings Inc. is up for sale again after filing for bankruptcy court protection from creditors, a move that could affect some of its estimated 36 stores in Canada.
Citing a crushing debt load and prolonged recession, the Bellevue, Wash.-based retailer said it has filed for Chapter 11 bankruptcy protection in […]
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Nobel Prize-winning economist Joseph Stiglitz is seeking $5 million in damages against his former lawyer for failing to file divorce papers in time to prevent his second wife from claiming part of his $300,000 in prize money.
At a hearing today, U.S. District Judge Richard Leon in Washington pushed the start date of the […]
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