Worldwide Business News

Worldwide debt driven stagflation - U.K. economy grew at its fastest pace in two years last quarter as consumers racked  
India Daily - Nov 09 6:53 AM
Policy makers led by Governor Mervyn King lifted the repurchase rate a quarter-point to 5 percent in UK to control the infation from borrowed money. Worldwide debt driven stagflation - U.K. economy grew at its fastest pace in two years last quarter as consumers racked up debt.Save to My Web

More Consideration for Consumer Protection Needed in the Age of the Information Economy 
[Press Release] Business Wire via Yahoo! Finance - Nov 09 9:00 AM
DUBLIN, Ireland—-Research and Markets has announced the addition of Consumer Protection in the Age of the Information Economy to their offering.Save to My Web

French data show stagnant economy 
TODAYonline - 2 hours, 44 minutes ago
French cars pictured in Lyon. The French economy stagnated in the third quarter of the year, official data showed, an abrupt slowdown that surprised analysts and spelled bad news for the centre-right government six months before presidential elections.Save to My Web

Japan economy hits shares 
BBC News - Nov 10 3:12 AM
Japan’s Nikkei index falls to its lowest level in a month on Friday, after data sparks concerns about the economy.Save to My Web

FRENCH DATA SHOW STAGNANT ECONOMY 
The Tocqueville Connection - Nov 10 5:18 AM
PARIS, Nov 10, 2006 (AFP) - The French economy stagnated in the third quarter of the year, official data showed on Friday, an abrupt slowdown that surprised analysts and spelled bad news for the centre-right government six months before presidential elections.Save to My Web

Around the Markets: Industry data put damper on Nikkei 
International Herald Tribune - Nov 10 6:38 AM
Japanese stocks fell after a government report showed machinery orders unexpectedly dropped, signaling economic growth in the world’s second-biggest economy after the United States stall.Save to My Web

BOJ: Inverted Curve Is Not Predictive 
AP via Yahoo! Finance - Nov 10 2:04 AM
Japan’s central bank governor said Friday that the inverted yield curve in the U.S. Treasury market doesn’t mean the U.S. economy is headed for a recession.Save to My Web

Oil-rich Dubai redraws the atlas 
CNN.com - Nov 10 4:44 AM
In the early 1960’s oil was discovered 75 miles off the coast of the United Arab Emirates transforming the economy of its capital Dubai and its six neighboring federated states.Save to My Web

U.S. Economy Cooling, but Indicators Point to Soft Landing, Says Union Bank Senior Economist Keitaro Matsuda 
[Press Release] Business Wire via Yahoo! Finance - Nov 09 7:00 AM
—-Union Bank of California: WHAT: Keitaro Matsuda, senior economist for Union Bank of California, today released his November 2006 Economic Report focused on the slowing growth of the U.S. economy.Save to My Web

British Report Says Global Warming Will Devastate World Economy 
WTOL News 11 - 6 minutes ago
LONDON (AP) — Unchecked global warming will devastate the world economy on the scale of the world wars and the Great Depression, a major British report said Monday.Save to My Web

Blair says economic sanctions on Palestinian Authority should be
Forbes - In Geneva, the UN’s trade and development agency said the Palestinian economy is declining to a level not seen for a generation amid an international freeze on aid. In a report, the UN Conference on Trade and Development (UNCTAD) said the Palestinians

OPEC official warns of ‘new price era’
Syracuse Post-Standard - Underscoring growing concerns of a global economic slowdown, the head of the International Monetary Fund said Tuesday he predicts a “continued smooth ride” for the world economy but cautioned that there are signs of potential trouble ahead after

Smaller SUVs are revving up
Courier News - In our real-world fuel-economy tests, the best small SUVs have gotten 21 to 23 miles per gallon overall, compared with the 14 mpg of the midsized V8 Ford Explorer and Jeep Grand Cherokee. With gas averaging about $3 a gallon, that can translate into

Best Buy Quarterly Profit Rises 22 Percent
NewsFactor Network - end televisions, notebook computers, gaming and computer services. Sales declined for older televisions, music and desktop computers. Investors have been watching retailers closely for comments about whether consumers are worrying about the economy

Lazear: Economy doing OK
Boston Herald - D espite a slowing housing market, the economy is performing remarkably well with workers starting to see wage increases, the White House s top economic adviser said yesterday. Edward P. Lazear, chairman of the Bush administration s Council of

Stocks hold on to small gains
WTNH.com - Investors are scrutinizing economic reports to determine if the economy is slowing too fast, a trend that could hurt both consumer and corporate spending. So a report showing slight improvement in the G-D-P was a welcome sign for investors. The

Study: Woods boosting European golf economy by 5 percent
CBS Sportsline - LONDON (AP) -This week’s World Match Play Championship does not pay appearance fees, although it would be easy to justify payment to Tiger Woods based on a new report. Tom Cannon, dean of business at the University of Buckingham, says in his research

Private Sector: Pittsburgh’s economy / Myths vs. realities
Pittsburgh Post-Gazette - The general perception of the Pittsburgh economy is one of stagnation, even decline. Despite a flurry of announcements regarding new large-scale construction projects in the local area, the outlook still appears to be viewed with a mixture of gloom

India s Industry Increases
Industrial Distribution - by Dow Jones Newswires expected industrial output to grow 11.5 percent in July. The growth came on the back of sustained domestic demand and a surge in exports, although many had feared rising oil prices and interest rates could slow the economy.

Stocks post modest advance as oil prices fall
Courier News - Investors have been looking for any direction about the state of the economy, but also have traded with relatively little conviction ahead of the Federal Reserve’s next meeting Sept. 20. St. Louis Fed President William Poole said in a speech Monday

Stocks post modest advance
Herald News - Investors have been looking for any direction about the state of the economy, but have also traded with relatively little conviction ahead of the Federal Reserve’s next meeting Sept. 20. St. Louis Fed President William Poole said in a speech Monday

Metals, Oil Down on Growth Concerns
Street.Com - Prices of precious metals moved lower Monday as concerns over a slowing U.S. economy, together with oil’s slight decline from its all-time high above $75, reduced market anxiety over inflation. Gold was recently trading down at around $626.7 per

Beauprez touts economy, set to launch campaign
Aurora Sentinel - LAKEWOOD | U.S. Rep. Bob Beauprez touted the nation’s growing economy on Jan. 9 as he prepared to launch his bid for governor, joining Commerce Secretary Carlos Gutierrez in cheering the news that the U.S. economy added 413,000 jobs over the past two

State economy steady but outlook bleak
Lexington Herald-Leader - PHILADELPHIA Pennsylvania s economy is chugging along, but rising gasoline prices and a slowing housing market could put a damper on future growth. Last month, the average price of regular unleaded gasoline reached $2.86 a gallon in the state

Income inequality isn’t all bad
kgw.com - Income inequality is having foundational effects on the economy some are good, and some are bad. None are to be ignored. How big is the income growth gap? Suffice it to say the very highest income earners the few who

Well-Paid Benefit Most As Economy Flourishes
Washington Post - Wages are rising more than twice as fast for highly paid workers in the Washington area as they are for low-paid workers, an analysis of federal data by The Washington Post shows. That means the spoils of the region’s economic expansion are going

Bank of Canada interest-rate policy choice seen too close to call
680 News - Osborne added that he was in “the very small minority” still expecting a rise in borrowing costs amid “pretty decent momentum in the domestic economy overall.” Higher interest rates slow economic activity but also tend to make a country’s currency

Business News
Aiken Standard - China, now the world’s fourth-largest economy and the nation with the most influence over renegade North Korea, is not a member . Summary Box: G-8 Membership ECONOMIC MEETING: President Bush and the leaders of seven other nations will gather next

Firm economy? Stocks sell-off ahead of Fed meeting
WKYT 27 - NEW YORK Stock prices are edging lower on Wall Street. The Dow Jones industrial average is down 67 points at 10-thousand-977. Decliners on the New York Stock Exchange hold a three-to-two lead over advancers. The Nasdaq Composite Index has lost 15

World Cup Economic Bounce Disappoints Germany
Voice of America - Germans were hoping for a substantial boost to their economy as a result of hosting this year’s World Cup. Two million tourists — twice as many as expected — fanned out across the country during the month-long tournament, spending their travel

Bank of Canada could pause raising rates on weak jobs data, slowing US
Ottawa Citizen - But on the other hand, the picture we have even with the decline in jobs that we got is one of a very, very tight labour market” and other signs of an economy running at full tilt. Levesque observed that the jobless rate is still stuck at an all

Remarks by President Bush at Swearing-In Ceremony for Secretary of the
Forbes - E-Business -Enterprise Tech -Infoimaging -Intelligent Infrastructure -Personal Tech -Sciences & Medicine -Wireless -CIO Network -Digital Entertainment Markets -Equities -Economy -Commodities -Bonds -Emerging Markets -Currencies Entrepreneurs -Finance -Human Resources

Jones Co. Economy on the Rise, Despite Katrina.
WDAM-TV - Jones County’s economy is booming in more ways than one, despite the aftermath of Katrina. Sandie Holifield, Director of Jones County Economic Development, says, “Katrina dealt us a bad hand, but something good also happened.” Holifield says post

New Treasury secretary pledges U.S. won’t retreat from global economy
KOTV - WASHINGTON (AP) _ Former Goldman Sachs chief executive Henry M. Paulson was sworn in as the nation’s 74th Treasury secretary on Monday, and he pledged to make sure the United States does not retreat from the world economy. “We must always remember

Paulson: U.S. Won’t Retreat From Economy
ABC News - President Bush, left, stands behind Treasury Secretary Henry Paulson, right, following his swearing-in at the U.S. Treasury Building, Monday, July 10, 2006 in Washington. Paulson won easy approval in the Senate but the oath-taking was delayed so the

Special Breakfast - Northern Ireland
Tampa Bay Business Journal - Northern Ireland is fast becoming a thriving economy. There are new industries being created in biotechnology and research. Cities are being revitalized with millions being invested in regeneration. There is a new cultural vitality, pride and optimism

Singapore set for bigger bite of info economy
The Age, Australia - Jun 25, 2006 He says Singapore, owner of Optus, challenger of Qantas, and clearly a competitor for Australia in the still-rising global information economy, aims to treble

Indicators index tumbles, shows slowing economy
Chicago Tribune, United States - Jun 23, 2006 An index of leading economic indicators fell in May by the most in nine months, signaling the robust pace of growth earlier this year will give way to a slower

JSE down on economy worries
iAfrica.com, South Africa - Jun 23, 2006 The JSE was in negative territory in noon trade on Friday, as concerns about the economy saw the sell off in banks and local-economy-centred industrials seen

US Economy: Durable Goods Orders Ease Concern About Slowdown
Bloomberg - Jun 23, 2006 June 23 (Bloomberg) — Orders for US-made durable goods excluding transportation equipment rose 0.7 percent in May, easing concern that the economy is cooling

Business Coalition Says Dozens Of Pending Bills Hurt CA Economy
KCBS, CA - 18 hours ago SACRAMENTO, Calif. (KCBS) — A coalition of business groups says many bills being considered in Sacramento this summer are bad for California’s economy.

Economy looks the best in 50 years
Globe and Mail, Canada - Jun 22, 2006 Cl ment Gignac, chief economist at National Bank Financial, sees the economy growing at 3 per cent this year and 2.7 per cent next.

Economy at 50-year high
National Post, Canada - Jun 23, 2006 yesterday. But the reports also warned that Alberta’s economy is so hot that it is starting to fuel inflation across the country.

For Good or Ill, Boom in Ethanol Reshapes Economy of Heartland
The Ledger, FL - Jun 25, 2006 By ALEXEI BARRIONUEVO. This article was reported by Alexei Barrionuevo, Simon Romero and Michael Janofsky and written by Mr. Barrionuevo.

Manufacturers send warning about economy
New Zealand Herald, New Zealand - 13 hours ago The Canterbury Manufacturers Association says the latest economic figures should be seen as a clear warning, despite the fact the economy has staved off

Economy briefs
Sofia Echo, Bulgaria - 8 hours ago After Bulgaria joins the European Union, scheduled for January 1 2007, all projects financed by European funds will be awarded by public procurement procedures

Economy stars in Mexico?s vote
St. Petersburg Times, FL - 12 hours ago But since then economic progress has been sluggish. The economy has grown by barely 2 percent annually, delivering fewer new jobs than the PAN promised.

NZ economy grows in Q1, slowdown continues
Reuters - Jun 22, 2006 However, analysts said the slowdown in the economy, which had outperformed other developed countries for years, was continuing, with annual growth slipping to

Indian Economy To Grow 5.6 Percent Until 2020
All Headline News - 7 hours ago New Delhi, India (AHN) - According to a new survey by the Economic Intelligence Unit (EIU), the Indian economy will likely grow at the rate of 5.6 percent

Governor celebrates economy
Portales News-Tribune, NM - Jun 24, 2006 The economy of eastern New Mexico is on the mend was the message of Gov. Both developments will strengthen the region s economy, Richardson said.

Euronext mulls options as D.Boerse merger opposed (Reuters)

Reuters - Euronext shareholders gave the pan-European exchange operator freedom to seek a better offer from suitors The New York Stock Exchange and Deutsche Boerse, after rejecting for now the latest proposal from the Frankfurt-based exchange.

Marks and Spencer says pre-tax profit up by half (AFP)

AFP - Marks and Spencer, the British clothing-to-food retailer, has confirmed its recovery under chief executive Stuart Rose with a 47.6-percent rise in annual pre-tax profits.

Leading index falls in April (Reuters)

Reuters - A key forecasting gauge for the U.S. economy fell an unexpected 0.1 percent in April, a report from a private research group showed on Thursday.

GameStop profit rises after acquisition (Reuters)

Reuters - GameStop Corp. , the No. 1 U.S. video game retailer, said on Thursday that quarterly profit rose 13 percent, beating forecasts, as sales of Xbox 360 consoles and games buoyed results after its purchase of rival Electronics Boutique.

Sears first-quarter profit beats estimates (Reuters)

Reuters - Sears Holdings Corp. on Thursday reported a much bigger-than-expected quarterly profit as it cut costs and eliminated clearance sales at Sears stores, sparking a 12 percent jump in the stock.

Burger King shares rise in market debut (Reuters)

Reuters - Shares of Burger King Holdings Inc. , the world's second-largest hamburger chain, rose as much as 6 percent on Thursday in their market debut, a sign of strength for IPOs despite a slump in the stock market.

Jobless claims jump (Reuters)

Reuters - New claims for U.S. jobless aid unexpectedly surged last week after a partial government shutdown in Puerto Rico led tens of thousands of workers to apply for benefits, a government report showed on Thursday.

Watch out: Your mutual fund could report you (USATODAY.com)
USATODAY.com - Under little-noticed rules that kick in this year, the Treasury Department is requiring mutual fund firms and insurers to report you to Uncle Sam if they note a “suspicious” transaction that might relate to money laundering or terrorism.

Lacker says must not stifle bank innovation (Reuters)

Reuters - Regulators need to take care not to stifle innovation as they seek to ensure new loan practices, such as "exotic" mortgages, do not put institutions or consumers at undue risk, a top Federal Reserve official said on Thursday.

Stocks little changed after rebound fizzles (Reuters)

Reuters - U.S. stocks were little changed on Thursday after a short-lived rebound from Wednesday's heavy sell-off as concerns about inflation kept investors on edge.

Dell to triple size of new Canadian facility (Reuters)

Reuters - Dell Inc. , the world's top maker of personal computers, said on Friday it will triple the number of workers at a new customer center in Ottawa by adding 1,000 jobs.

Pepco Holdings 1st-qtr earnings rise (Reuters)

Reuters - Utility holding company Pepco Holdings Inc. on Friday reported higher quarterly earnings on strong performance at its merchant generation unit, Conectiv Energy.

Body Shop like-for-like sales up (Reuters)

Reuters - British beauty products chain Body Shop International Plc, which is being taken over by France's L'Oreal, said on Friday like-for-like sales were up 5 percent in the eight weeks starting February 26.

Stocks jump as mild jobs growth calms rate fears (Reuters)

Reuters - Stocks rallied on Friday after slower-than-expected job growth in April hinted at a possible pause in interest-rate increases.

Americans Borrow Less Freely in March (AP)

AP - Americans increased their borrowing in March at the slowest pace in four months as people cut back on their credit card charges.

Warner Music posts surprisingly narrow loss (Reuters)

Reuters - Warner Music Group Corp. , which earlier this week rejected a $4.2 billion takeover bid by EMI Group Plc. , on Friday posted a narrower-than-expected loss, helped by rising U.S. CD sales and digital music revenues.

US home loan demand rises despite higher rates (Reuters)

Reuters - U.S. mortgage applications rose for the first time in four weeks, led by a rebound in home purchase loans despite interest rates hitting their highest this year, an industry trade group said on Wednesday.

Time Warner profit rises on cable; AOL disappoints (Reuters)

Reuters - Time Warner Inc. on Wednesday said quarterly profit rose, helped by strong cable subscriber growth, but revenues missed Wall Street expectations as its AOL Internet service lost customers.

Consumer spending, income top expectations (Reuters)

Reuters - U.S. consumer spending and income rose more than expected in March, while an influential measure of inflation — the core price index — topped economists' expectations, the government reported on Monday.

Comverse founder, top execs resign amid options probe (Reuters)
Reuters - The founder and top management at software maker Comverse Technology Inc. resigned on Monday amid a probe into stock-option practices, the latest executives to be felled by greater scrutiny over the timing of options grants.

Stocks rise on factory data, Wal-Mart sales (Reuters)
Reuters - U.S. stocks rose on Monday, boosted by a robust April sales estimate from Wal-Mart Stores Inc. and a report showing stronger-than-expected manufacturing activity.

Microsoft profit rises, outlook disappoints (Reuters)

Reuters - Microsoft Corp. posted a 16 percent rise in quarterly profit on Thursday but missed Wall Street expectations and set a disappointing profit target due to increased costs on products from Windows to the new Xbox 360 game console.

Bank of Japan Keeps 0 Percent Rate Policy (AP)
AP - Japan’s central bank decided kept its easy money policy in place Friday, cooling jitters about a possible interest rate hike in the face of fresh economic figures that show Japanese inflation is picking up.

Constellation Energy quarterly earnings fall (Reuters)

Reuters - Constellation Energy Group Inc. , which is being bought by rival FPL Group Inc. , on Friday posted lower first-quarter earnings as the effect of mild weather drove down results at its regulated utility.

Nasdaq falls 1 percent at open on Microsoft (Reuters)

Reuters - The Nasdaq Composite stock index fell 1 percent at the market opening on Friday after disappointing Microsoft Corp. results.

Coventry Health earnings rise (Reuters)
Reuters - Health insurer Coventry Health Care Inc. on Friday posted a rise in quarterly earnings as revenue from premiums increased.

Avon quarterly profit plunges due to restructuring (Reuters)

Reuters - Avon Products Inc. , the world's largest direct seller of cosmetics, on Friday said first-quarter profit fell 67 percent, weighed down by restructuring charges and stock option expensing.

S.Korea Retailer to Buy Carrefour Unit (AP)
AP - The South Korean retailer E.Land Group has agreed to buy the South Korean unit of French retailer Carrefour SA for 1.75 trillion won ($1.9 billion), the companies said Friday.

March Fund Inflow Jumps To $34 Bil (Investor’s Business Daily)
Investor’s Business Daily - Investors poured $34.04 billion into mutual funds in March, the biggest month for the industry since January 2004, when $42.981 billion in new money went into funds.