Global Economic Rebound 'Fragile,' G-7 Leaders Say
Sat, 10/03/2009 - 18:45 EDT - NPR - National Public Radio (Business News)
Finance ministers from the Group of Seven industrialized nations, wrapping up a meeting in Istanbul, warned Saturday that the recovery remains "fragile" and tried to talk up the U.S. dollar amid fears it could fall farther and disrupt the global economy.» E-Mail This» Add to Del.icio.us
Leaders of the Group of 20 industrialized nations gather in Pittsburgh Thursday and Friday to focus on ensuring long-term economic stability following last year's global economic meltdown. At the top of the agenda is an attempt to correct the mistakes that led to the worst economic crisis since the Great Depression.
Wall Street opened lower on Wednesday as Brexit-related fears seeped back into the markets amid signs of a global economic slowdown. As wary investors looked for shelter, gold rallied to a two-year high. The benchmark 10-year US Treasury yield touched a record low. Major Asian and European indexes were trading lower. The British pound was at a 31-year low, while China allowed the value of the yuan to touch a 5-1/2 year low.
In a surprise to some observers, Prime Minister Justin Trudeau secured enough support from the provinces late Monday for a gradual expansion of the Canada Pension Plan.
Despite the incremental phase-in of the planned improvements to the national pension scheme between 2019 and 2025, business reacted quickly and harshly to the prospect of increased contributions, which many see as a job killer that will only slightly improve retirement conditions for Canadians.
This week's meeting of the Group of Eight industrialized countries concluded with a pledge to end the use of tax shelters by multinational corporations. But there are still big questions about how they will make a dent in the problem.» E-Mail This » Add to Del.icio.us
The Dow Jones industrials plunged nearly 1,000 points in half an hour amid concerns that Greece's debt problems could halt the global economic recovery. NPR's John Ydstie talks to Robert Siegel about the wild day on Wall Street.» E-Mail This » Add to Del.icio.us
The second straight day of steep declines comes in the wake of a downgrade of Greece's debt to "junk" status. The euro also continues to slump, hitting one-year lows against the dollar.» E-Mail This » Add to Del.icio.us
While the key geopolitical event of the last three days days continues with Brussels which remains on lockdown over terrorism fears, the main event in overnight markets was the latest tumble in commodities, which dropped to the lowest level since 1999, facilitated by the soaring dollar.
Lima (AFP) - Finance ministers from the world's leading economies gave the green light Friday to a new plan to crack down on tax evasion by multi-national corporations which costs countries at least $100 billion a year.
OTTAWA – Canada is not alone in struggling with weak employment growth.
Dozens of other members of the Organization of Economic Co-operation and Development have been experiencing high jobless rates and stagnant wages since the recession.
Many will continue to do so, the Paris-based OECD said Wednesday in its annual employment outlook.
After nearly three years of little change, “unemployment is finally on a downward path in many countries,” said the OECD, which helps promote economic growth and financial stability among its 34 member nations.
(WASHINGTON) — The International Monetary Fund on Tuesday cut its global economic growth forecasts and warned that the U.S. would harm the world economy if it fails to raise its borrowing limit. The international lending agency said the global economy will grow 2.9 percent this year and 3.6 percent in 2014. Both are 0.2 percentage point lower than the group’s July forecasts. The main reason for the downgrade was slower growth in China, India, Brazil and other developing countries. But the IMF also lowered its outlook for U.S.