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
MELBOURNE — Canada’s Finance Minister Jim Flaherty has not yet decided whether to run for office again in the 2015 general election, he told Reuters on Tuesday, amid speculation he may step down before then to attend to health issues.
“We’ll see. I haven’t decided,” Flaherty said in an interview when asked to confirm his intentions.
He answered “yes” at a Nov. 13 news conference when asked whether he would run for re-election in October 2015 in the southern Ontario district he represents.
The U.S. dollar has fallen more than 12 percent from its recent peak. Amid worries that it will continue to weaken, some central banks are keeping more of their reserves in euros and yen. There has even been talk of finding an alternative to the greenback as the world's major reserve currency.» 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.
Finance Minister Joe Oliver has asked the House of Commons finance committee to launch an investigation into terrorist financing, saying “more can be done” and that recent incidents highlight the threat it poses to Canadians.
In a letter Thursday to committee chairman James Rajotte, Mr. Oliver said last week’s disruption of a suspected ISIS support network in Ottawa “demonstrates that the importance and immediacy of this issue cannot be overstated.”
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
World leaders meeting in Canada over the weekend agreed to some strong medicine to cut their budget deficits. The move comes despite a warning from President Obama that precipitous cuts in government spending could choke off the fragile economic recovery.» E-Mail This » Add to Del.icio.us
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.
The number of people who signed contracts to buy homes fell sharply in April, hitting its lowest point since fall and renewing fears that a recovery in the housing market is far off. The National Association of Realtors said its index of sales agreements for previously occupied homes sank 11.6 percent last month.
Americans bought more cars and trucks and showed a still-fragile auto industry that they were ready to replace their clunkers in 2011. Nearly all big car companies reported double-digit gains for the month, a sign that the slow recovery in auto sales that began in 2010 remains on track.» 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