SAN FRANCISCO: A week-long convulsion in US stocks induced by Britain's vote to leave the European Union has left some on Wall Street feeling a little bit better thanks to stronger expectations of prolonged low interest rates. The result of the June 23 referendum has created a bounty of uncertainty about the future of the United Kingdom, Europe and the global economy. But since those questions will likely take years to answer, many US investors are focusing on what they see as an immediate, virtual certainty - that the Federal Reserve will not raise interest rates anytime soon.
With two consecutive quarters of contracting Gross Domestic Product, Japan is officially back in recession. GDP shrank 1.6% annualized.Unadjusted for price changes, the Japanese economy contracted an annualized 3 percent, the Cabinet Office said.None of this was "expected". We will explore "why" in a moment. First consider some headlines. Bloomberg: Japan Unexpectedly Enters Recession as Abe Weighs Tax.
Britain has reached the “symbolic milestone” of clawing back all the losses it suffered during the Great Recession, a leading think-tank said on Tuesday, while strong manufacturing figures added to evidence that the recovery is broadening out, reports The Telegraph.
An announcement came yesterday from American Postal Workers Union (APWU) in which it was mentioned that the union of 200,000 members has decided to challenge the merger between Staples, Inc. (NASDAQ:SPLS) and Office Depot Inc (NASDAQ:ODP).
The union which comprises of employees of United Postal Service will be taking assistance of a team consisting of financial advisors, lawyers, and economists for drafting the case against the merger.
TOKYO — Japanese Prime Minister Shinzo Abe is planning about 3.5 trillion yen (US$29 billion) in fresh stimulus, including subsidies and job-creating programs, to help pull the world’s third-largest economy out of recession.
Officials said Friday that details of the plan would be approved by the Cabinet on Saturday as it wraps up work for 2014. The plan reportedly includes 420 billion yen (US$3.5 billion) in help for stagnant regional economies.