Economy News

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Consumer spending, inventories seen lifting U.S. second-quarter GDP


WASHINGTON - U.S. economic growth likely rebounded in the second-quarter from a winter-induced slump at the start of the year and will probably continue to gather momentum through the rest of 2014.

U.S. housing data weaker than expected, but services sector expands

WASHINGTON - Contracts to buy previously-owned U.S. homes unexpectedly fell in June, but the data did little to change perceptions the housing sector was gradually recovering after slumping in late 2013.

12:04pm EDT

In Ukraine's east, Soviet-style economy withers under onslaught

DONETSK/KIEV - After pro-Russian rebels took 720 kg of explosives, 360 detonators and almost 1 km of wiring, the Skochinskiy coal mine, an ageing stalwart of the economy in Ukraine's Donbass region, was put out of action.

World, Russia 11:08am EDT

U.S. services sector activity accelerates in July: Markit

NEW YORK, July 28 - Activity in the U.S. services sector held at its highest level in 4-1/2 years in July, though readings for new business and employment growth weakened, a survey showed on Monday.

9:53am EDT

Argentine debt mediator: no resolution, delegation returning to Argentina

NEW YORK/BUENOS AIRES - Argentina failed to reach a breakthrough with the U.S. court-appointed mediator in its battle with holdout creditors on Friday in talks that lasted just an hour, suggesting a settlement to avoid a default next week remains elusive.

8:20am EDT

China needs to import more food to ease water, energy shortages: official

BEIJING - China should boost imports of food so it can dedicate more of its scarce water supplies to energy production, especially in arid but coal-rich regions like Xinjiang and Ningxia, a senior environmental official said on Monday.

5:08am EDT

Britons warier about house-buying: Halifax

LONDON - Britons are feeling much less positive about buying a house while sentiment toward selling is improving, according to a survey on Monday which added to other suggestions that the housing market is losing a bit of steam.

27 Jul 2014

Ireland to give green light for hedge funds to lend

DUBLIN - Ireland, one of the biggest hubs for funds in Europe, will allow hedge funds based in the country to lend to companies under new rules drawn up by the central bank, the bank said.

27 Jul 2014

Investors pin growth hopes on U.S. as Ukraine crisis casts shadow on Europe

FRANKFURT - With the prospect of stiffer sanctions against Russia rattling confidence in Europe, investors will be looking to the United States and China to underpin the global economy.

China, Russia 27 Jul 2014

Many investors face Scotland exit risk unprotected

LONDON - Less than two months before an independence vote that could ultimately tear apart a G7 country, investors in financial markets seem largely unmoved.

27 Jul 2014


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Still room for improvement with the BoE’s forward guidance, says IMF

There was plenty of support for the Bank of England’s stance on interest rates from the International Monetary Fund in its latest report on the British economy. But it seemed a little less sure on how forward guidance – the Bank’s cornerstone policy since Governor Mark Carney took charge last year – has fared so far.

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