Economics News

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April 19th, 2012

Yahoo.com

Liliana Samuel
AFP

Argentina seizes gas firm owned by Repsol

Facing intense criticism over the nationalization of its biggest oil firm, Argentina on Thursday ordered the seizure of YPF Gas, another group controlled by Spain's Repsol, a move expected to further inflame tensions...

April 9th, 2012

FT.com

Geoff Dyer and Joe Leahy
Financial Times

Rousseff seeks US support in 'currency war'

Brazil's President Dilma Rousseff used a visit to the White House on Monday to complain about US monetary policy as she made her case for international action against currency 'manipulation' directly to Barack Obama. In a meeting that highlighted the occasionally uneasy relationship between the two countries despite their potential to be strong partners, Ms Rousseff said that excessive monetary expansion in the US and Europe was hampering growth in countries such as Brazil...

April 6th, 2012

Bloomberg.com

Craig Torres, Alex Kowalski and Lorraine Woellert
Bloomberg

Bernanke warning on jobs vindicated by March payrolls report

Ben S. Bernanke warned last month that payroll gains might slow as companies adjust their labor needs for a period of moderate growth. Today's Labor Department report may have proved the Federal Reserve chairman right...

March 29th, 2012

CNBC.com

Reuters and CNBC.com

Final GDP reading misses estimates; claims edge down

The U.S. economy expanded a bit more slowly than expected in the fourth quarter while personal income grew at a much faster pace than previously thought, which should help underpin spending this quarter. At the same time, new U.S. claims for unemployment benefits fell to a fresh four-year low last week, according to a government report that showed ongoing healing in the labor market...

March 27th, 2012

Reuters.com

Leah Schnurr
Reuters

Consumer confidence eases, inflation view jumps

Americans this month ratcheted up their expectations on inflation to the highest level in 10 months and consumer confidence waned, though the economic recovery was still seen on track...

March 20th, 2012

Money.CNN.com

James O'Toole
CNN

U.S. to impose tariffs on Chinese solar panels

The U.S. Commerce Department announced tariffs on Chinese-made solar panels on Tuesday that it said had benefited from unfair subsidies by Beijing...

March 20th, 2012

Reuters.com

Pedro Nicolaci da Costa
Reuters

Bernanke says gold standard wouldn't solve problems

Federal Reserve Chairman Ben Bernanke on Tuesday took aim at proponents of the gold standard, saying that such a system handicaps the government's ability to address economic conditions...

March 19th, 2012

Politico.com

David Saleh Rauf
Politico

Apple cash staying overseas because of taxes, company says

Apple is planning to spend an estimated $45 billion of its cash reserves in the next three years, as part of a program the company announced Monday that includes the first dividend for shareholders since 1995. But not one penny of that is slated to come from the roughly $64 billion the company has stashed overseas. That's because Apple, like other corporations, is loath to pay the heavy tax hit for repatriating that money...

March 16th, 2012

BLS.gov

Bureau of Labor Statistics

Economic news release: real earnings

Real average hourly earnings for all employees fell 0.3 percent from January 2012 to February 2012, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. A 0.1 percent increase in the average hourly earnings was more than offset by a 0.4 percent increase in the Consumer Price Index for All Urban Consumers (CPI-U)...

March 16th, 2012

Bloomberg.com

Alex Kowalski
Bloomberg

Consumer prices in U.S. rose in february as gasoline jumped

The cost of living in the U.S. rose in February by the most in 10 months, reflecting a jump in gasoline that failed to spread to other goods and services. The consumer-price index climbed 0.4 percent, matching the median forecast of economists surveyed by Bloomberg News, after increasing 0.2 percent the prior month, the Labor Department reported today in Washington. The so-called core measure, which excludes more volatile food and energy costs, climbed 0.1 percent, less than projected...

March 15, 2012

Yahoo.com

AFP

China was top investor in Germany last year: agency

China was the top foreign investor in Germany in 2011, ahead of the United States, Switzerland and France, the government development agency Germany Trade & Invest said on Thursday...

March 9th, 2012

CNBC.com

Jeff Cox
CNBC

Jobless rate flat at 8.3% even as payrolls grow 227,000

The slow melt-up in employment continued during February as the economy added 227,000 new jobs while the unemployment rate held flat at 8.3 percent...

February 17th, 2012

Gallup.com

Dennis Jacobe
Gallup

U.S. unemployment increases in mid-February

The U.S. unemployment rate, as measured by Gallup without seasonal adjustment, is 9.0% in mid-February, up from 8.6% for January. The mid-month reading normally reflects what the U.S. government reports for the entire month, and is up from 8.3% in mid-January...

January 28th, 2012

LATimes.com

Don Lee
LA Times

U.S. fourth-quarter GDP falls short of expectations

The U.S. economy ended last year on firmer footing with modestly stronger growth. But output fell short of what analysts expected, and signs point to weakness ahead. The gross domestic product rose at a 2.8% annual rate in the fourth quarter as consumers bought more cars and other goods, the Commerce Department said Friday. That was below the 3% figure many analysts had projected. But it was up from a feeble 1.8% the quarter before...

January 28th, 2012

Economist.com

The Economist

Can you hear me now? The Fed makes its views loud and clear

Japan holds the modern record for years spent with interest rates at zero; they were on the floor from 2001 to 2006. America is on track to break that record. Having cut its short-term rate to near zero in late 2008, the Federal Reserve said on January 25th it will probably stay there "at least through late 2014", more than a year longer than its previous guidance...

January 25th, 2012

Investors.com

Jason Ma
Investor's Business Daily

Fed extends near-zero rates as growth picture worsens

Federal Reserve policymakers signaled a gloomier view on the economy Wednesday, but stocks rallied after the central bank said it would keep interest rates low until at least late 2014...

January 17th, 2012

CNBC.com

Reuters
CNBC

Fitch says Greece to default, believes will be orderly

Rating agency Fitch said on Tuesday that Greece would default on its debt, although it said that such a default was likely to take place in an orderly manner...

January 13th, 2012

CNBC.com

Steve Liesman
CNBC

Fed to weigh further easing amid doubts about recovery

Federal Reserve officials are seriously considering giving the US economy--and especially the housing market--an added jolt with more quantitative easing...

January 13th, 2012

CNBC.com

Reuters
CNBC

S&P cuts credit ratings for nine euro zone nations

Standard & Poor's downgraded the credit ratings of nine euro zone countries, stripping France and Austria of their coveted triple-A status but not EU paymaster Germany, in a Black Friday 13th for the troubled single currency area...