List/Grid Tag Archives: economic
UK PM Cameron says Britain still a world power (AP)
LONDON – Britain can remain a world power despite the emergence of new economic titans like China, but only if it sorts out its economic problems, Prime Minister David Cameron says. In a major foreign policy speech at the Lord Mayor’s Banquet in London on Monday, Cameron will reject the idea that the rise of new economic powers means Britain is “shuffling apologetically off the world stage.” “What I have seen in my first six months as prime minister is a Britain at the center of all the big discussions,” Cameron will say, according to extracts released in advance by his office.
Obama mounts strong defence of US economic policy
YOKOHAMA, Japan (AFP) – President Barack Obama defended his economic recovery policies Saturday after top powers rebuffed US plans for binding trade targets and curbs on currency manipulation at the G20 summit. Top administration officials pushed back against the notion that the G20 meeting, which ended in Seoul Friday, had turned into a global display of opposition to US policy, saying important core principles had been agreed.
Greek Socialists hold edge in austerity-focused local vote (AFP)
ATHENS (AFP) – Greece’s ruling Socialists on Sunday surged ahead in the second round of a regional vote dominated by austerity measures and an imminent EU-IMF economy audit, early estimates said. The party of Prime Minister George Papandreou also reclaimed the capital for the first time in over 20 years, an unexpected boon in the midst of a growing recession and widespread fears of fresh cutbacks.
China hikes bank reserves in move to cool lending (AP)
BEIJING – Chinese banks were ordered to set aside more reserves Wednesday in a new move to curb lending as Beijing tries to cool rising inflation. The central bank’s order came on the eve of Thursday’s release of figures that are expected to show inflation surged past 4 percent in October, above the government’s 3 percent target.
Top US official expects G20 trade talks progress (AFP)
SEOUL (AFP) – G20 leaders are likely to make progress on resolving the world’s huge trade imbalances when they meet this week in Seoul, a top US economic adviser said Tuesday. “I am confident that a satisfactory outcome will be reached,” Larry Summers, director of the White House’s National Economic Council, told a Seoul forum via video link without elaborating.
Geithner denies immediate plans to set account targets (AFP)
KYOTO, Japan (AFP) – US Treasury Secretary Timothy Geithner on Saturday denied immediate plans to seek specific targets to deal with current account imbalances, noting the need for a “broad consensus” to develop policy. Geithner was speaking after a meeting of finance ministers from the Asia Pacific Economic Cooperation group during which they pledged to work towards tackling large imbalances to safeguard growth.
Global markets jittery ahead of US jobs data (AP)
LONDON – European stock markets traded lower Friday ahead of key U.S. jobs data, following a big stock market rally around the world in the wake of the Federal Reserve’s decision to pump $600 billion into newly-created money the U.S.
Asia resists US push to target trade surpluses
KYOTO, Japan – U.S. Treasury Secretary Timothy Geithner, meeting with counterparts from around the world this weekend, faces a tough task selling his formula for mending fissures in the global economy as nations seek ways to avoid another downturn.
How the new Congress could affect stocks in 2011 (AP)
NEW YORK – Next year will be a year unlike any other for the stock market. The Republican takeover of the House of Representatives on Tuesday means Wall Street will be contending with three situations in 2011 that drive stock prices: • The year before a president faces re-election.
US Fed opens meeting expected to launch new stimulus (AFP)
WASHINGTON (AFP) – The US Federal Reserve opened a two-day policy-setting meeting on Tuesday expected to launch a new round of large-scale asset purchases to prop up a weak economic recovery. The US central bank is likely to announce that it will restart purchases of long-term US bonds — essentially printing billions of dollars — in the hope of staving off deflation that could spell a decade of economic stagnation.