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Japan's economy grew by a faster-than-expected 1.0 percent in the latest quarter, figures showed on Thursday, as rising domestic demand and a boost in exports kept it on the recovery path.
WASHINGTON (Reuters) - Senate Democratic leader Harry Reid will ask the chamber to approve a new package of oil and economic sanctions on Thursday aimed at further pressuring Iran to abandon its nuclear program, a Democratic leadership aide told Reuters. The politically popular sanctions are focused on foreign banks that handle transactions for Iran's national oil and tanker companies, and include measures to close loopholes in existing sanctions. ...
MONTREAL (Reuters) - Quebec's government moved late on Wednesday to end a sometimes violent 14-week mass student strike in the Canadian province that officials fear could harm the economy and deter tourists. Premier Jean Charest said his government would shortly unveil legislation to ensure students could freely attend classes, although he did not give details. He did not address speculation that the bill would allow strikers to be fined. ...
SINGAPORE (Reuters) - London copper edged higher for the first time in five sessions on Thursday with a firmer euro aiding its bounce from four-month lows in the previous session amid a deepening debt crisis in Europe exacerbated by political instability in Greece. The modest gains in copper suggests many investors are wary of bidding up prices aggressively given the contagion potential of a euro zone without Greece, a slowdown in top copper consumer China and the fragile state of the U.S. economy. FUNDAMENTALS * Three-month copper on the London Metal Exchange gained 0. ...
Japan's economy grew at an annual rate of 4.1 percent for January-March amid a gradual recovery from the catastrophic earthquake and tsunami of the previous year.
Singapore's economic growth slowed in the first quarter as the government warned Thursday that political upheaval in Europe threatens to undermine the global economy.
TOKYO (Reuters) - Japan's economy bounced back from a year-end lull in the first quarter, powering ahead of other major industrial nations thanks to rebuilding of the tsunami-battered northeast, solid private spending and some improvement in exports. The world's third-largest economy grew 1.0 percent in the January-March quarter, just ahead of a median market forecast of 0.9 percent, and growth in the final three months of 2011 was revised to flat from a 0.2 percent contraction, government data showed on Thursday. ...
WASHINGTON (Reuters) - The November 6 elections are less than six months away, but lawmakers and Washington insiders are already trying to figure out what Congress will do in a post-election session to avoid what is being described as a January 1 "fiscal cliff." That refers to a series of decisions on budget and tax matters President Barack Obama and Congress will have to negotiate in November and December. If handled poorly, the economic recovery could be threatened, economists fear. Here is what confronts Washington if nothing is done: At year's end, tax cuts enacted under President George ...
TOKYO (Reuters) - Japan's economy rebounded in January-March from a lull in the previous quarter, shaking off the pain of a strong yen and Europe's debt crisis on solid consumer spending and rebuilding from last year's earthquake. KEY POINTS: - Gross domestic product (GDP) expanded 1.0 percent in January-March from the previous quarter after a revised 0.0 percent result for October-December last year. The increase compared with a median market forecast of a 0.9 percent rise. - On an annualized basis, GDP rose 4.1 percent, bigger than a 3.5 percent increase expected by economists. ...
TOKYO (Reuters) - Japanese Economics Minister Motohisa Furukawa said on Thursday that the economy continued its uptrend in January-March and that it was expected to see moderate growth in the second quarter. Furukawa said in a statement that reconstruction demand and government subsidies for low emission cars contributed to first quarter growth, along with a pickup in exports from the Thai floods and the U.S. economic recovery. (Reporting by Tetsushi Kajimoto; Editing by Joseph Radford)
DETROIT (Reuters) - Major automakers will launch new models through 2016 in the United States at a faster pace than in the last two decades, according to a Bank of America Merrill Lynch report. New models draw more traffic to showrooms, which can boost a company's market share, profit and stock price. Automakers are expanding their lineups to better compete in the growing U.S. auto market after a "lull" during the economic downturn, the annual report said. ...
WASHINGTON (Reuters) - Senate Democratic Leader Harry Reid will ask the U.S. Senate to approve a new package of oil and economic sanctions on Thursday aimed at pressuring Iran to abandon its nuclear program, a Democratic leadership aide told Reuters. The politically popular sanctions are focused on foreign banks that handle transactions for Iran's national oil and tanker companies, and include measures to close loopholes in existing sanctions. Iran has insisted its nuclear program is for civilian purposes. ...
(Reuters) - Cost pressures are piling up for Singapore's electronics sector, with some listed companies reporting lower profit margins, but analysts expect an improvement in the second half of the year as the holiday season boosts demand. The slump in the sector, which contributes more than one-third of Singapore's non-oil domestic exports, comes as the central bank warned the industry would be a drag on economic growth and flagged severe price erosion for electronics firms. ...
LONDON (Reuters) - Prime Minister David Cameron will promise on Thursday to do whatever is needed to protect Britain's economy and banks from a break-up of the euro zone, and will urge leaders of the single currency bloc to "sort out its problems". Cameron's remarks, in a speech to business leaders in northwest England, are likely to irritate European leaders trying to keep the euro zone intact as Greece prepares for a new election and struggles to cope with its debt crisis. ...
LONDON (Reuters) - Prime Minister David Cameron will promise on Thursday to do whatever is needed to protect Britain's economy and banks from a break-up of the euro zone, and will urge leaders of the single currency bloc to "sort out its problems". Cameron's remarks, in a speech to business leaders in northwest England, are likely to irritate European leaders trying to keep the euro zone intact as Greece prepares for a new election and struggles to cope with its debt crisis. ...
More than two dozen world leaders will join President Barack Obama in an extraordinary weekend of back-to-back summits to tackle Europe's mounting economic woes and solidify plans for winding down the decade-long war in Afghanistan.
GREEK DRAMA: Stock markets fell on worries that Greece would exit the euro bloc and throw the global markets into further turmoil. New elections were called in Greece for June 17 after coalition talks to form a government fell apart.
(Reuters) - Several Federal Reserve policymakers last month thought the U.S. central bank might need to do more to support the economy if the recovery stumbles, but there was almost no support for extending its "Operation Twist" program, due to end in June. Minutes of the Fed's most recent policy-setting meeting, released on Wednesday, suggested officials were inclined to stay their current course, given a "moderately" expanding economy and improved labor market conditions. ...
Stock markets fell on worries that Greece would exit the euro bloc and throw the global markets into further turmoil. New elections were called in Greece for June 17 after coalition talks to form a government fell apart.
ROME/LONDON (Reuters) - Italian Prime Minister Mario Monti, French President Francois Hollande, German Chancellor Angela Merkel and British Prime Minister David Cameron will hold a video conference on Thursday ahead of this weekend's G8 meeting, officials said on Wednesday. The conversation would give the four European leaders a chance to prepare for the summit at Camp David and to discuss European economic issues, said a source in the Italian government. ...
NEW YORK (Reuters) - U.S. stocks and the euro slid on Wednesday on news that some Greek banks face emergency funding needs, while minutes from the Federal Reserve's April meeting showed U.S. economic prospects remain sobering. The European Central Bank stopped funding operations for some Greek banks as they are undercapitalized, the ECB said, confirming a Reuters report that had fanned concerns about Greece's financial difficulties. ...
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