Global financial crisis still pounds Africa, despite positive signs elsewhereJOHANNESBURG — Amid signs the rest of the world may be recovering from the global financial crisis, Africa is still being hammered. South Africa’s economy, the continent’s largest, shrunk by another 3 percent in the second quarter, an omen that things may get even worse before they improve. German investor confidence rose sharply in August, closely watched ZEW survey saysFRANKFURT — Investor confidence in Germany, Europe’s biggest economy, rose sharply in August as hopes grew that the economy will recover faster than previously expected, a closely-watched survey showed Tuesday. Credit card companies see slight improvement in credit trendsDES MOINES, Iowa — Most major credit card companies say fewer customers defaulted on their accounts in July, but that doesn’t necessarily mean they’re financially better off. World stocks tumble as US consumer fears eclipse Japan growth; Shanghai dives nearly 6 pctHONG KONG — World stocks tumbled Monday as signs of weak U.S. consumer confidence aggravated doubts in the recovery’s strength, overshadowing news that Japan’s economy climbed out of its recession last quarter. Japan’s economy breaks free of recession in 2Q on export rebound, grows at 3.7 percent paceTOKYO — Japan’s economy climbed out of yearlong recession in the second quarter, the government said Monday, expanding 3.7 percent at an annual pace and joining Germany, France and other regions that appear to be emerging from the global financial crisis. Consumer prices tumble by steepest amount since 1950; meager spending could slow recoveryWASHINGTON — Consumer prices have fallen more in the past year than in any 12-month period in nearly six decades — a huge break for shoppers but also a reminder that prices are being restrained by weak spending that’s likely to slow an economic recovery. Worries about consumer spending drive investors to the haven of the US dollarNEW YORK — The dollar advanced Friday as worries about consumers’ continuing reluctance to spend drove investors to the relative safety of the safe-harbor currency and government bonds. Consumer prices flat in July and down 2.1 percent over past year, biggest drop in 59 yearsWASHINGTON — Consumer prices were flat in July as energy costs retreated following a big surge in June. Over the past 12 months, prices dropped the most in nearly six decades as the recession and lower energy costs kept a lid on inflation. Hong Kong emerges from recession as economy rebounds 3.3 percent in second quarterHONG KONG — Hong Kong’s economy broke out of a yearlong recession in the second quarter as the territory benefited from strong growth in mainland China and better conditions in the West, the government said Friday. Asian markets mixed amid new signs the world economy emerging from deep recessionBANGKOK — Most major Asian markets advanced Friday with commodity stocks rising amid more signs the world economy is emerging from a deep recession. European shares traded higher. Asian markets gains amid new signs the world economy emerging from deep recessionBANGKOK — Most major Asian markets advanced Friday with commodity stocks rising amid more signs the world economy is emerging from a deep recession. European shares traded higher. Retail sales bleak for July, reinforcing fears consumers won’t spend; flat prices forecastWASHINGTON — Retail sales dropped in July, government data showed, reinforcing concerns among economists that consumers won’t spend enough to help a recovery take hold. But Friday is expected to bring better news: July inflation is expected to have remained flat, and industrial production is likely to have grown for the first time in nine months. Retail sales bleak for July, reinforcing fears consumers won’t spend the economy to recoveryWASHINGTON — A bleak report on retail sales Thursday reinforced a nagging worry of economists: Shoppers won’t spend enough to help a recovery take hold. Dollar drops as Germany, France unexpectedly see growth in 2Q; US retail sales drop in JulyNEW YORK — The dollar dropped Thursday as Germany and France returned to economic growth and U.S. retail sales slipped unexpectedly last month. Rebounds in France, Germany, stoke hopes of rise for European economyLONDON — Government programs to support the auto industry helped Germany and France return to economic growth in the second quarter, rebounds that stoked hopes the recession in the wider 16-country euro area may also end sooner than thought. Recession ends in France and Germany; Hopes rise for European economyLONDON — Government programs to support the auto industry helped Germany and France return to economic growth in the second quarter, rebounds that stoked hopes the recession in the wider 16-country euro area may also end sooner than thought. France, Germany return to growth, hopes rise for European economyLONDON — Government programs to support the auto industry helped Germany and France return to economic growth in the second quarter, rebounds that stoked hopes the 16-country euro area may recover sooner than thought. Euro area contracted only 0.1 percent in Q2 after unexpected growth in Germany, FranceLONDON — The recession in the 16 countries that use the euro eased substantially between April and June after unexpected growth in Germany and France, the euro zone’s two largest economies, official figures showed Thursday. World markets shoot higher after Fed signals waning US recession; Hong Kong jumps 2 percentHONG KONG — World stock markets shot higher Thursday after the U.S. Federal Reserve said the world’s largest economy appeared to be “leveling out” from its worst recession in decades. Euro rises against dollar, world economy shows positive notes
MOUNTAIN OF DEBT: After health care, an even rowdier debate lies ahead over Social SecurityWASHINGTON — As Congress agonizes over health care, an even more daunting and dangerous challenge is bearing down: how to shore up Social Security to keep it from burying the nation ever deeper in debt. Meltdown 101: Booming productivity little comfort to workers losing jobs in severe recessionWASHINGTON — Productivity, the key ingredient needed for rising living standards, made a huge jump in the spring. In the worst recession in generations, that gain was a decidedly mixed blessing. Lithuania faces possible debt downgrade from S&P a day after Latvia, Estonia were loweredLONDON — Lithuania may see its credit rating downgraded to junk status by Standard & Poor’s after the agency warned Tuesday that rising economic and political risks are depressing the Baltic country’s tax revenues. Singapore economy grows revised 20.7 percent in second quarterSINGAPORE — Singapore revised slightly higher its economic growth in the second quarter, but warned U.S. consumption must pick up to sustain the recovery. Meltdown 101: Why the worst lies ahead for the labor market, even if a recovery is under wayThere is a growing sense among economists that the worst of the recession might be over. Unfortunately, the same can’t be said for the labor market. European indicators pointing up, but central banks, economists warn against early celebrationsLONDON —After more than a year of economic gloom, Europeans are returning to the shops and venturing back into the housing market. Companies are slowing the pace at which they’ve been slashing jobs. Lending conditions are improving. IMF official says Romania in a ’severe recession’, to be allowed larger budget deficitBUCHAREST, Romania —Romania is in a “severe recession”, with the economy contracting twice as much as predicted earlier this year, an International Monetary Fund official said Monday. Latvia’s economic output plunges 19.6 pct in second quarter, sinks further into depressionRIGA, Latvia —Latvia’s economy shed nearly one-fifth of its value in the second quarter compared with the same period last year, official data showed Monday, signaling a deepening of the Baltic state’s recession. Obama: Overhauling health care key to economic recovery; opposition questions his approachObama says ‘worst may be behind us’ on recession WASHINGTON —Using better-than-expected jobs numbers to press his top domestic priority, President Barack Obama is arguing that overhauling the health care system is essential to the country’s economic well-being. AP News in Brief at 5:58 a.m. EDTIntel officials: Pakistani Taliban leader Baitullah Mehsud killed by US strike, already buried |
Topics
Poll Loading ...Latest TweetsEconomic Growth
Latest Friend FeedsEconomic Growth
|
BERLIN — The 16-nation euro climbed against the dollar early Thursday after Germany, Europe’s largest economy, reported an unexpected rise in gross domestic product, technically bringing it out of recession. The euro bought $1.4259 in early European trading, up from $1.4214 the night before in New York. The British pound rose to $1.6575 from $1.6511 in New York, while the dollar dipped slightly to purchase 96.20 Japanese yen from 96.23 the night before.
