Economy News

A man inserts a fuel smart card to start a pump at a petrol station in northwestern Tehran

Iran would sell more oil if Western sanctions lifted - Mehr agency

Iran said oil prices will not rise above $60 until 2016 and that it would increase crude exports if Western sanctions over its nuclear program are lifted, the semi-official Mehr news agency reported on Friday. "We're not expecting oil prices to go over $60 until 2016. What will happen after that is not clear," Mehr quoted National Iranian Oil Co's head of international affairs Mohsen Ghamsari as…

  • Photo illustration of logo of car-sharing service app Uber on a smartphone over a reserved lane for taxis in a street in Madrid
    Uber halts low-cost ride service in … Reuters - 2 hours 6 minutes ago

    Online taxi service provider Uber Technologies Inc said on Friday it would suspend its low-cost uberX ride service in South Korea, in another concession by the U.S.-based … More »Uber halts low-cost ride service in …

    Photo illustration of logo of car-sharing service app Uber on a smartphone over a reserved lane for taxis in a street in Madrid

    Online taxi service provider Uber Technologies Inc said on Friday it would suspend its low-cost uberX ride service in South Korea, in another concession by the U.S.-based firm trying to avoid a total ban in Asia's fourth-largest economy. Uber said the decision to suspend the service in Seoul, effective Friday, was part …

  • usnPeople wait in line to enter the Nassau County Mega Job Fair at Nassau Veterans Memorial Coliseum in Uniondale, New York
    Sturdy U.S. jobs report seen, could … Reuters - 2 hours 59 minutes ago

    By Lucia Mutikani WASHINGTON (Reuters) - U.S. employment likely rose strongly in February with the jobless rate slipping, signs that could encourage the Federal Reserve … More »Sturdy U.S. jobs report seen, could …

    usnPeople wait in line to enter the Nassau County Mega Job Fair at Nassau Veterans Memorial Coliseum in Uniondale, New York

    By Lucia Mutikani WASHINGTON (Reuters) - U.S. employment likely rose strongly in February with the jobless rate slipping, signs that could encourage the Federal Reserve to consider hiking interest rates in June. A Reuters survey of economists forecast a 240,000 increase in nonfarm payrolls after a 257,000 gain in January. …

  • San Francisco Federal Reserve Bank President Williams speaks during an interview with Reuters in Washington
    Fed should not be too patient on rate … Reuters - 4 hours ago

    Federal Reserve policymakers should not wait too long to raise interest rates, a top U.S. central banker said on Thursday, because doing so could mean "drastically" overshooting … More »Fed should not be too patient on rate …

    San Francisco Federal Reserve Bank President Williams speaks during an interview with Reuters in Washington

    Federal Reserve policymakers should not wait too long to raise interest rates, a top U.S. central banker said on Thursday, because doing so could mean "drastically" overshooting on inflation and forcing the Fed to hike rates dramatically. "I think that by mid-year it will be the time to have a serious discussion about …

  • TSX ekes out gain as ECB rally fades; … Reuters - 11 hours ago

    By Alastair Sharp TORONTO (Reuters) - Canada's main stock index rose in a broad but shallow rally on Thursday, led by a 5 percent jump in shares of Canadian Natural … More »TSX ekes out gain as ECB rally fades; …

    By Alastair Sharp TORONTO (Reuters) - Canada's main stock index rose in a broad but shallow rally on Thursday, led by a 5 percent jump in shares of Canadian Natural Resources Ltd after the major oil and gas producer surprised investors with strong quarterly results. "Investors are starting to pick through the rubble …

  • Traders work at their screens in front of the German share price index DAX board at the stock exchange in Frankfurt
    Euro sinks to 11-1/2-year low, bonds … Reuters - 11 hours ago

    By Richard Leong NEW YORK (Reuters) - The euro fell to an 11-1/2-year low against the dollar on Thursday as U.S. and euro zone bond prices rose, after the European Central … More »Euro sinks to 11-1/2-year low, bonds …

    Traders work at their screens in front of the German share price index DAX board at the stock exchange in Frankfurt

    By Richard Leong NEW YORK (Reuters) - The euro fell to an 11-1/2-year low against the dollar on Thursday as U.S. and euro zone bond prices rose, after the European Central Bank spelled out its 1 trillion-euro stimulus plan that begins next Monday. European stock prices rose to seven-year highs in advance of the ECB's …

  • The logo of Carrefour is pictured during the company's 2013 annual results presentation in Paris
    Europe firms may draw fire by joining … Reuters - 15 hours ago

    By Lionel Laurent LONDON (Reuters) - European companies are likely to join a boom in share buybacks as central bank cash floods the economy, risking criticism that they … More »Europe firms may draw fire by joining …

    The logo of Carrefour is pictured during the company's 2013 annual results presentation in Paris

    By Lionel Laurent LONDON (Reuters) - European companies are likely to join a boom in share buybacks as central bank cash floods the economy, risking criticism that they are recycling capital rather than investing to promote growth. European firms are already cheering financial markets by increasingly following their U.S. …

  • Job quality in Canada at 25-year low, … CBC - 15 hours ago

    A new study by CIBC Economics says you may have ample reason. CIBC says its index of Canadian employment quality is at a 25-year low, and nothing the Bank of Canada … More »Job quality in Canada at 25-year low, …

    A new study by CIBC Economics says you may have ample reason. CIBC says its index of Canadian employment quality is at a 25-year low, and nothing the Bank of Canada can do to adjust interest rates is likely to fix the situation. In fact, its job quality index has been trending down for the past 25 years and is 10 per …

  • ECB President Draghi arrives to take part in a plenary debate on the ECB's Annual Report 2013 at the EU Parliament in Brussels
    Draghi ties ECB's Greek funding … Reuters - 16 hours ago

    By John O'Donnell and Angeliki Koutantou NICOSIA/ATHENS (Reuters) - The European Central Bank will resume normal lending to Greek banks only when it sees Athens is complying … More »Draghi ties ECB's Greek funding …

    ECB President Draghi arrives to take part in a plenary debate on the ECB's Annual Report 2013 at the EU Parliament in Brussels

    By John O'Donnell and Angeliki Koutantou NICOSIA/ATHENS (Reuters) - The European Central Bank will resume normal lending to Greek banks only when it sees Athens is complying with its bailout program and is on track to receive a favorable review, ECB President Mario Draghi said on Thursday. He also made clear the euro …

  • Exclusive: Nigeria's central bank … Reuters - 16 hours ago

    (Reuters) - Nigeria's central bank has fixed the rate at which banks can buy dollars from oil companies at not more than 2 naira spread to its clearing rate, dealers … More »Exclusive: Nigeria's central bank …

    (Reuters) - Nigeria's central bank has fixed the rate at which banks can buy dollars from oil companies at not more than 2 naira spread to its clearing rate, dealers said, its latest attempt to prop up the currency hit by the drop in oil prices. The central bank has pledged to stabilize the naira and has been deploying …

  • British filmmaker Udwin speaks during a news conference in New Delhi
    India asks YouTube to remove Delhi rape … Reuters - 20 hours ago

    India has asked YouTube to remove all links to a controversial documentary about the gang rape and murder of a woman in Delhi after banning its broadcast, a government … More »India asks YouTube to remove Delhi rape …

    British filmmaker Udwin speaks during a news conference in New Delhi

    India has asked YouTube to remove all links to a controversial documentary about the gang rape and murder of a woman in Delhi after banning its broadcast, a government official told Reuters on Thursday. Leslee Udwin's "India's Daughter" features an interview with Mukesh Singh, one of four men sentenced to death for the …

  • Alberta wages almost 25% higher than Canadian average
    Alberta wages almost 25% higher than … CBC - 23 hours ago

    Springtime is typically oilpatch bonus season. As the grass turns green, car dealerships and upscale stores tend to get busier. More »Alberta wages almost 25% higher than …

    Alberta wages almost 25% higher than Canadian average

    Springtime is typically oilpatch bonus season. As the grass turns green, car dealerships and upscale stores tend to get busier.

  • Indonesia's President Joko Widodo leads a cabinet meeting at the Presidential Palace in Jakarta
    Investors agonize over Indonesia's … Reuters - 23 hours ago

    By Fransiska Nangoy JAKARTA (Reuters) - Investment bankers and company executives are worried President Joko Widodo's drive for clean governance is falling apart amid … More »Investors agonize over Indonesia's …

    Indonesia's President Joko Widodo leads a cabinet meeting at the Presidential Palace in Jakarta

    By Fransiska Nangoy JAKARTA (Reuters) - Investment bankers and company executives are worried President Joko Widodo's drive for clean governance is falling apart amid a dispute between rival law enforcement agencies in Southeast Asia's largest economy. Indonesia's main anti-corruption agency, Corruption Eradication Commission …

  • Employees work at a factory run by PIKO, a model railway manufacturer, in the eastern German town of Sonneberg
    German industrial orders plunge, darkening … Reuters - Thu, 5 Mar, 2015

    By Michelle Martin BERLIN (Reuters) - German industrial orders fell far more than forecast in January, posting their largest drop since August, data showed on Thursday, … More »German industrial orders plunge, darkening …

    Employees work at a factory run by PIKO, a model railway manufacturer, in the eastern German town of Sonneberg

    By Michelle Martin BERLIN (Reuters) - German industrial orders fell far more than forecast in January, posting their largest drop since August, data showed on Thursday, casting a shadow over what had previously looked like a strong start to 2015 for Europe's largest economy. Bookings for goods made in Germany declined …

  • A man walks past the Bank of Japan building on a rainy day in Tokyo
    Bank of Japan's QE skeptic says … Reuters - Thu, 5 Mar, 2015

    By Leika Kihara MAEBASHI, Japan (Reuters) - The Bank of Japan should give itself more time to achieve its ambitious price target, board member Takahide Kiuchi said, … More »Bank of Japan's QE skeptic says …

    A man walks past the Bank of Japan building on a rainy day in Tokyo

    By Leika Kihara MAEBASHI, Japan (Reuters) - The Bank of Japan should give itself more time to achieve its ambitious price target, board member Takahide Kiuchi said, warning that an appropriate level of inflation for Japan is currently lower than the bank's 2 percent target. The remarks by Kiuchi, who has long been skeptical …

  • A truck drives past shipping containers at a port in Lianyungang
    China February exports seen roaring … Reuters - Wed, 4 Mar, 2015

    China's exports likely recovered in February after a grim January reading, a Reuters poll showed, but inflation remained anemic, keeping pressure on policymakers to roll … More »China February exports seen roaring …

    A truck drives past shipping containers at a port in Lianyungang

    China's exports likely recovered in February after a grim January reading, a Reuters poll showed, but inflation remained anemic, keeping pressure on policymakers to roll out more support measures to meet new economic targets. Premier Li Keqiang said on Thursday that the government would target growth of around 7 percent …

  • Israeli Prime Minister Netanyahu waves prior to addressing a joint meeting of Congress on Capitol Hill in Washington

    By Yeganeh Torbati WASHINGTON (Reuters) - When Israeli Prime Minister Benjamin Netanyahu urged the United States this week to take a tough line against Iran, he argued that world powers could always push for a better nuclear deal because the Islamic Republic was vulnerable to low oil prices. They noted that Iran has withstood …

  • By Mari Saito and Kentaro Hamada TOKYO (Reuters) - The fight over restarting Japan's nuclear industry is moving to the courts, where power companies face the risk of further delays in firing up idled reactors if judges side with local residents worried about nuclear safety. Four reactors owned by two utilities cleared …