• Fed's Fischer sees inflation rebound, allowing gradual rate hikes

    Fed's Fischer sees inflation rebound, allowing gradual rate hikes
    U.S. inflation will likely rebound as pressure from the dollar fades, allowing the Federal Reserve to raise interest rates gradually, Fed Vice Chairman Stanley Fischer said on Saturday in a speech careful not to overreact to a possible Chinese slowdown. The influential U.S. central banker was circumspect whether he would prefer to raise rates from near zero at a much-anticipated policy meeting on Sept. 16-17. The cautious confidence from Fischer, as well as from Bank of England Governor Mark Car
  • WRAPUP 1-Fed's Fischer sees inflation rebound, allowing gradual rate hikes

    JACKSON HOLE, Wyo., Aug 29 (Reuters) - U.S. inflation will likely rebound as pressure from the dollar fades, allowing the Federal Reserve to raise interest rates gradually, Fed Vice Chairman Stanley...
  • Fed's Fischer says not clear how Fed discussions could affect China stocks

    Fed's Fischer says not clear how Fed discussions could affect China stocks
    Federal Reserve Vice Chair Stanley Fischer said on Saturday it was not clear to him how Fed policy discussions could affect China's stock market, as Chinese officials have suggested. Fischer was asked about the issue by a professor from China's Tsinghua University during a monetary policy conference here. China's stock market "went up to a multiple of 70 when people knew our policy and it collapsed to 17 when they also knew our rate policy.
  • China premier insists economy 'within appropriate range'

    China premier insists economy 'within appropriate range'
    Chinese Premier Li Keqiang has issued assurances over his country's economy after global markets were roiled by concerns over its slowing growth, state media reported on Saturday. Top global markets ended the week Friday largely recovered from China-induced panic selling, but market watchers remain worried the turmoil in the world's number two economy will drag down global growth.
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  • Bank of England stance on rates unchanged by China - Carney

    Bank of England stance on rates unchanged by China - Carney
    By Howard Schneider and Jonathan Spicer JACKSON HOLE, Wyo. (Reuters) - Bank of England Governor Mark Carney said on Saturday that a slowdown in China's economy could push down further on inflation but it did not change, for now, the central bank's position on when and how it might increase interest rates. Carney, speaking at an annual U.S. central banking conference in Jackson Hole, Wyoming, reiterated his view that the recovery in Britain's economy "will likely put the decision as to when to st
  • UPDATE 1-Bank of England stance on rates unchanged by China - Carney

    JACKSON HOLE, Wyo., Aug 29 (Reuters) - Bank of England Governor Mark Carney said on Saturday that a slowdown in China's economy could push down further on inflation but it did not change, for now,...
  • UPDATE 1-'Good reason to believe' U.S. inflation will rise -Fed's Fischer

    JACKSON HOLE, Wyo., Aug 29 (Reuters) - U.S. inflation will likely rebound as pressure from the dollar and other factors fade, allowing the Federal Reserve to raise interest rates gradually, Fed Vice...
  • 'Good reason to believe' U.S. inflation will rise -Fed's Fischer

    JACKSON HOLE, Wyo., Aug 29 (Reuters) - U.S. inflation will likely rise as the dollar and other influences fade, and the Federal Reserve can probably raise rates gradually, Vice Chairman Stanley...
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  • Raising U.S. inflation target won't help much now: researchers

    Raising U.S. inflation target won't help much now: researchers
    The Federal Reserve could have cut short the Great Recession by a year if it had set a 4 percent inflation target in 1984, but raising the target now would probably do little to help the economy, researchers said on Saturday. Boston Fed President Eric Rosengren and Minneapolis Fed President Narayana Kocherlakota recently have floated raising the U.S. central bank's current 2 percent inflation target to give it more room to cut rates during economic downturns. The idea has not gained much tractio
  • Yellen ally pours cold water on rule-based monetary policy

    Yellen ally pours cold water on rule-based monetary policy
    For much of her tenure as head of the Federal Reserve, Janet Yellen has been pressured by Republican lawmakers who want the U.S. central bank to adopt a monetary policy rule, a straightforward formula connecting unemployment and inflation to a benchmark interest rate. On Saturday a Yellen ally and former adviser at the Fed delivered a provocative retort: the economic models underpinning those simple rules don't work that well, and the best policy decisions come when central bankers look beyond t
  • Hollande, Merkel, Putin back ceasefire plan for eastern Ukraine-France

    PARIS, Aug 29 (Reuters) - France, Germany and Russia back plans for a complete ceasefire in eastern Ukraine from Sept. 1, the French presidency said after their respective leaders spoke by telephone...
  • China imposes limit on local government debt: report

    China imposes limit on local government debt: report
    China has imposed a limit on local debt, state media reported Saturday, as the world's second-largest economy tries to control massive borrowing by its regions. The standing committee of China's National People's Congress (NPC) approved the ceiling of 16 trillion yuan ($2.5 trillion) in local debt for this year, the official Xinhua news agency reported. The NPC is China's Communist Party-controlled legislature.
  • China to cap 2015 local government debt at 16 trillion yuan-Xinhua

    BEIJING, Aug 29 (Reuters) - China's parliament approved on Saturday a cabinet plan to cap total outstanding local government debt at 16 trillion yuan ($2.5 trillion) this year, the official Xinhua...
  • IMF's Lagarde says restructuring should suffice for Greek debt

    ZURICH, Aug 29 (Reuters) - A form of debt restructuring rather than outright forgiveness should enable Greece to handle its "unviable" debt burden, the head of the International Monetary Fund was...
  • China passes new pollution law, sets sights on coal consumption cap

    China passes new pollution law, sets sights on coal consumption cap
    Legislators have approved amendments to China's 15-year-old air pollution law that grant the state new powers to punish offenders and create a legal framework to cap coal consumption, the Asian giant's biggest source of smog. The draft amendments were passed by 154 votes to 4, with five abstentions, Zhong Xuequan, spokesman for the National People's Congress (NPC), China's parliament, told a media briefing on Saturday. The ruling Communist Party has acknowledged the damage that decades of untram
  • Angola central bank raises benchmark interest rate by 25 bps to 10.5 pct

    Angola central bank raises benchmark interest rate by 25 bps to 10.5 pct
    LUANDA (Reuters) - Angola's central bank raised its benchmark lending rate by 25 basis points to 10.5 percent on Friday, saying this would help reduce price volatility in the economy.
  • Ghana says postponed 5-year domestic bond slated for this month

    Ghana says postponed 5-year domestic bond slated for this month
    By Kwasi Kpodo ACCRA (Reuters) - Ghana is holding off on plans to issue a five-year domestic bond this month due to "recent market developments", the Finance Ministry said on Friday, the latest setback after the government recently cancelled similar bonds. Finance Minister Seth Terkper earlier this month announced the government's plans to issue the bond to raise 500 million cedis ($127 million) in an effort to help restructure its growing debt. Ghana, which exports cocoa, gold and oil, is curre
  • Pensioner killed in Venezuela supermarket melee, opposition says

    Pensioner killed in Venezuela supermarket melee, opposition says
    By Andrew Cawthorne CARACAS (Reuters) - An 80-year-old Venezuelan woman died, possibly from trampling, in a scrum outside a state supermarket selling subsidized goods, the opposition and media said on Friday. The melee at the store in Sabaneta, the birthplace of former Venezuelan leader Hugo Chavez, was the latest such incident in the South American nation where economic hardship and food shortages are creating long queues and scuffles. The opposition Democratic Unity coalition said Maria Aguirr
  • Strong dollar benefits rubber-based manufacturers

    Strong dollar benefits rubber-based manufacturers
    KUALA LUMPUR: Rubber glove and condom counters on Bursa Malaysia continue to outperform the whole stock market by about 40 per cent, despite their share prices having settled quite a bit for the past week. For the past two months, the drastic strengthening of the US dollar against the ringgit had enhanced the appeal of rubber glove-makers counters such as Hartalega Holdings Bhd, Top Glove Corp Bhd, Supermax Corp Bhd and Kossan Rubber Industries Bhd including that of condom manufacturer Karex Bhd
  • Focus turns to U.S. data as China slowdown looms

    Focus turns to U.S. data as China slowdown looms
    After a dizzying two weeks that saw a rapid plunge and rebound in equity prices, investors are looking forward to a week of economic data that may provide clarity on the likelihood of a near-term U.S. interest rate hike and help tamp down the market's recent wild swings. The economic figures will culminate in Friday’s jobs report that should reveal more about the strength of the U.S. economy. Car sales, construction spending, the Federal Reserve's "beige book" and jobs growth may show the
  • Brazil recession: GDP plunges 1.9 percent in second quarter

    Brazil recession: GDP plunges 1.9 percent in second quarter
    RIO DE JANEIRO (AP) — The bottom seems to have fallen out of Brazil's economy, with the government reporting Friday that the gross domestic product plunged 1.9 percent in the second quarter alone, once again throwing the nation into a technical recession.
  • Brazil tumbles into recession

    Brazil tumbles into recession
    Brazil has slipped into recession, the government said Friday, deepening the gloom in the world's seventh largest economy already battered by falling commodity prices, political crisis and a corruption scandal. Brazil is now in its biggest contraction for six years and with the 2015 slump forecast to extend in milder form through 2016, economists believe the country is headed for the longest recession since 1931. Brazil's economy has been tailing off for four years, ever since the end of a boom
  • Exclusive: Carlyle looks to sell Landmark Aviation for $1.7 billion

    Exclusive: Carlyle looks to sell Landmark Aviation for $1.7 billion
    Carlyle Group LP has been exploring a sale of aircraft leasing and maintenance company Landmark Aviation for as much as $1.7 billion, according to people familiar with the matter. Carlyle initially looked at selling Landmark via a stock market listing but in the past few months has broadened out that process to include a possible outright sale. Two of the sources said that Landmark Aviation's earnings before interest, taxes, depreciation and amortization (EBITDA)were around $170 million over a t
  • Fed says rate hike next month hinges on market volatility

    Fed says rate hike next month hinges on market volatility
    The Federal Reserve on Friday left the door open to a September interest rate hike even while several U.S. central bank officials acknowledged that turmoil in financial markets, if prolonged, could delay the first policy tightening in nearly a decade. Some top policymakers, including Fed Vice Chairman Stanley Fischer, said recent volatility in global markets could quickly ease and possibly pave the way for the U.S. rate hike, for which investors, governments and central banks around the world ar
  • WRAPUP 3-Fed says rate hike next month hinges on market volatility

    JACKSON HOLE, Wyo., Aug 28 (Reuters) - The Federal Reserve on Friday left the door open to a September interest rate hike even while several U.S. central bank officials acknowledged that turmoil in...
  • China fears keep markets on edge as stocks rally

    China fears keep markets on edge as stocks rally
    Top global markets ended the week Friday largely recovered from China-induced panic selling, but market watchers remain worried the turmoil in the world's number two economy will drag down global growth. "There still does not seem to be the macro foundations for indices to fully recover from their corrections, as concerns over China and uncertainty over Fed rate hikes continue to linger," said IG Markets analyst Angus Nicholson. On Friday, Moody's slashed its 2016 growth forecast for leading G20
  • U.S. labor ruling raises risks for staffing firms

    U.S. labor ruling raises risks for staffing firms
    The National Labor Relations Board ruling on Thursday found that companies can be held liable for labor violations committed by franchisees and contractors even when they have only indirect control over workers, a decision that could give unions greater bargaining power. The ruling has the potential to upend the economic models for staffing companies, subcontractors and franchises, according to the National Federation of Independent Businesses.
  • Venezuela's Maduro to visit China, Vietnam for finance deals

    Venezuela's Maduro to visit China, Vietnam for finance deals
    Venezuelan President Nicolas Maduro on Friday said he will visit China and Vietnam to sign economic and financing deals, as the OPEC nation struggles to make ends meet at a time of low oil prices. "I leave tomorrow for Vietnam and China to seal agreements for the economic and financial security of Venezuela, and to seek support in these difficult times," Maduro said during a televised broadcast.

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