FOMC Minutes, September Jobs Report, Auto And Same-Store Sales: Economic Events For Oct. 2-5
Friday's jobs report will carry the most weight, since this is the penultimate report before the elections.
Global Manufacturing: China, Europe Extend Slump In Sept; US Expands For 1st Time Since May
Despite mild uptick in September's U.S. PMI, the deepening euro zone crisis will continue to weigh on the global economy.
Postal Service Overseas On Better Financial Footing; US Postal Service To Default A Second Time On Sunday
Take a look at how postal services are doing in other countries while you count down the hours to the second default of the U.S. Postal Service.
Indian Shares End Sept. 8% Higher; Sensex To Rise Another 5% By End 2012
Indian stocks soar to a 14-month high after the government stunned markets in mid-September with a slew of aggressive steps to revive the economy.
Is China’s Economic Slowdown Here To Stay?
China's three decades of miraculous GDP growth is over because the recent slowdown is largely structural in nature.
Initial Jobless Claims Fall To 359,000; US 2Q GDP Cut To 1.3% On Drought
Fewer Americans than forecast filed applications for new jobless benefits last week. However U.S. 2Q GDP rose less than initially estimated.
Global Warming Wiped 1.2% From Global GDP, May Claim 100 Million Lives
Climate change caused by global warming is contributing to nearly 400,000 deaths a year and reducing global GDP by 1.6% annually.
Google Inc. (GOOG) Jumps To Become 5th Most Valuable US Company, Closing In On Microsoft
Google Inc. (Nasdaq: GOOG) is now the 5th biggest U.S. company by market capitalization, leaping from 10th place, where it was on July 14.
Caterpillar Inc. (CAT) Falls After Cutting 2015 Forecast; USB Maintains A ‘Neutral’
Caterpillar Inc. (NYSE: CAT) cut its profit guidance for 2015 -- one week after FedEx (NYSE: FDX), also a global economic bellwether, reduced its outlook.
Richest People In China Got Poorer, Says Hurun Rich List 2012
China's billionaires and millionaires got poorer over the past year, according to the Hurun Rich List 2012.
Corporate America’s Massive Pile Of Idle Cash Is Shrinking
While corporations like Apple Inc. (Nasdaq: AAPL) are still sitting on a boatload of cash, they are slowly downsizing their cash holdings.
Royal Bank Of Scotland (RBS) To Cut 3,800 Jobs By End 2013
Royal Bank of Scotland Group Plc (NYSE: RBS), the taxpayer-owned British banking giant, is planning a further 300 job cuts at its investment bank.
Free Checking Or Fee For All?
While the average American is making less and the income gap widens, big banks find themselves in the middle of a fee-for-all.
Spain 2013 Budget, Durable Goods, Housing In Focus: Economic Events For Sept. 24-28
Officials in France and Spain will present 2013 budgets next week. Both will feature more austerity measures to meet budget-deficit targets.
Google Inc. (GOOG) To Shut Down Free China-Only Music Download Service
Google Inc. (Nasdaq: GOOG) will shut down its once-popular China music download service on Oct. 19. A move that would benefit local rival Baidu.com Inc. (Nasdaq: BIDU).
Caterpillar Inc. (CAT) Sales Slowed In Last 3 Months, WTO Cuts 2012 Global Trade Growth Forecast To 2.5%
Caterpillar's August deal statistics highlighted fears of a global slowdown, and the WTO lowered its 2012 global trade growth forecast to 2.5 percent.
Uncertainty Raised Unemployment Rate By Up To 2% Since Recession Began
Uncertainty since the start of the 2008 financial crisis may have caused the U.S. unemployment rate to rise.
Signs Of Worsening Global Slowdown: Economic Data Wrap
Thursday's purchasing managers' indexes, or PMIs, reignited fears about global growth prospects, as no country can remain unscathed from the euro zone debt crisis.
US Initial Jobless Claims Fall To 382,000, Higher Than Expected
The four-week moving average for new jobless claims rose for the fifth consecutive week, to its highest level since June.
Asia Has More Millionaires Than North America; Gates, Buffett Top Forbes' List
For the first time ever, there are now more millionaires in Asia than in North America.
Bank Of Japan Eases Monetary Policy In Surprise Move
The Bank of Japan unexpectedly boosted its asset-buying program by ¥10 trillion ($126.7 billion), following similar easing steps by the U.S. Federal Reserve and the European Central Bank.
What's At Stake In China-Japan Trade Dispute?
There are fears over the economic impact of the dispute between China and Japan if the row over islands in the East China Sea is not resolved soon.
Did Fannie Mae Overpay Bank Of America For Servicing Rights?
The taxpayer-owned Fannie Mae paid more than legally required to Bank of America Corp (NYSE: BAC) and 12 other lenders when it spent $1.5 billion in termination fees for servicing rights on 1.1 million loans between 2008 and 2011. The mortgage giant argues that while it paid a premium over the minimum required price, it paid for the transfers at an ?appropriate rate.?
Tax Cuts For The Rich Don't Lead To U.S. Economic Growth, But Income Inequality: Study
Tax cuts for the rich don't seem to be associated with U.S. economic growth and instead are linked to a different outcome: greater income inequality in the U.S. These findings will likely fuel the already bitter political fight over extending the Bush tax cuts for upper-income groups.
China's Economy To Rebound Sooner, Stronger Than Expected - Nomura
While market sentiment for China's growth outlook has been overwhelmingly negative, Nomura's Chief China Economist Zhiwei Zhang remains very bullish.
Fed Speakers, Housing Data, Manufacturing PMI: Economic Events For Sept. 17-21
The continued weakness of the global economy will probably leave the two regional manufacturing PMI (Empire State and Philly Fed) and the national Markit PMI at low levels in September. Meanwhile, economists expect August?s data on housing starts and existing home sales to show that the housing recovery remains intact.
Global Auto Industry Outlook: Auto Sales To Grow 6% In 2012
Auto demand in global markets will continue its upward trend in 2012 and 2013 despite regional disparities. Nomura analysts forecast double-digit growth in the U.S. and Southeast Asia, but expect European demand to shrink 7 percent.
August US CPI Up 0.6% On Higher Gasoline Prices, Largest Rise In More Than 3 Years
Higher U.S. gasoline prices lifted a key inflation measure, the consumer price index or CPI, last month more than expected. The August increase in gasoline prices was the largest in more than three years
How Washington Subsidizes Home-Buying For The 1%: Report
Government-owned Fannie Mae and Freddie Mac, which were set up to help blue-collar and middle-class workers buy their own homes at lower interest rates, are also helping the nation's one percent to purchase luxurious homes.
FedEx, General Mills, Oracle, Adobe: Earnings Reports To Watch, Sept. 18-21
Analysts expect companies in the S&P 500 to post negative revenue growth rate in the third quarter. Meanwhile, profits are expected to fall 2 percent.
