Economy News

Fitch downgrades Japan's debt after sales tax hike nixed

The Fitch ratings agency has downgraded Japan's credit after the government failed to go through with a plan to increase sales taxes in its budget. Fitch cut its rating on Japan to A from A+. Standard & Poor's gives Japan an AA- rating, better than the Fitch assessment. Moody's downgraded Japan to A1 status last year.

  • Ghana can continue development in Ivory … Reuters - Sat, 25 Apr, 2015

    An international maritime tribunal on Saturday ruled that Ghana can continue developing a $4.9 billion dollar offshore oil project in an area caught up in a border dispute … More »Ghana can continue development in Ivory …

    An international maritime tribunal on Saturday ruled that Ghana can continue developing a $4.9 billion dollar offshore oil project in an area caught up in a border dispute with Ivory Coast but must not start new drilling. The decision is positive for the government of Ghana and for British firm Tullow, which leads a consortium …

  • U.S. voices concern over India action … Reuters - Sat, 25 Apr, 2015

    By Nita Bhalla NEW DELHI (Thomson Reuters Foundation) - The United States has expressed concern that India's crackdown on the activities of the Ford Foundation and Greenpeace … More »U.S. voices concern over India action …

    By Nita Bhalla NEW DELHI (Thomson Reuters Foundation) - The United States has expressed concern that India's crackdown on the activities of the Ford Foundation and Greenpeace India could limit "necessary and critical debate" in the world's largest democracy and is seeking "clarification". A U.S. State Department official …

  • Britain's opposition Labour Party leader Ed Miliband and his wife Justine stand next to Deputy Prime Minister Nick Clegg at the ceremony to mark the 100th anniversary of the start of the Gallipoli campaign, at the Cenotaph on Whitehall in London
    UK's Lib Dems rule out Scottish … Reuters - Sat, 25 Apr, 2015

    The leader of Britain's Liberal Democrats ruled out joining a government that relied on support from Scotland's nationalists, raising a potential obstacle to a coalition … More »UK's Lib Dems rule out Scottish …

    Britain's opposition Labour Party leader Ed Miliband and his wife Justine stand next to Deputy Prime Minister Nick Clegg at the ceremony to mark the 100th anniversary of the start of the Gallipoli campaign, at the Cenotaph on Whitehall in London

    The leader of Britain's Liberal Democrats ruled out joining a government that relied on support from Scotland's nationalists, raising a potential obstacle to a coalition deal with the opposition Labour Party after a national election on May 7. Nick Clegg, deputy prime minister who may again be kingmaker after a knife-edge …

  • Greek national flags sit arranged for sale at a shop in Athens
    Greece not playing a game of chicken … Reuters - Fri, 24 Apr, 2015

    By Daniel Bases NEW YORK (Reuters) - Greek Foreign Minister Nikos Kotzias said on Friday he respects Germany just not German politics, nor the way Berlin views Greece's … More »Greece not playing a game of chicken …

    Greek national flags sit arranged for sale at a shop in Athens

    By Daniel Bases NEW YORK (Reuters) - Greek Foreign Minister Nikos Kotzias said on Friday he respects Germany just not German politics, nor the way Berlin views Greece's economy, which faces the prospect of running out of money if it cannot agree to new bailout terms with creditors. Kotzias is part of the leftist government …

  • TFSA changes, loonie travel and KD's … CBC - Fri, 24 Apr, 2015

    It's an idea that has fans and detractors on both sides, but nobody managed to synthesize the issues as pithily as the Finance Minister himself did, in an interview on … More »TFSA changes, loonie travel and KD's …

    It's an idea that has fans and detractors on both sides, but nobody managed to synthesize the issues as pithily as the Finance Minister himself did, in an interview on The Exchange with Amanda Lang that night. Canadians are putting the brakes on cross-border car travel to the U.S., new numbers from Statistics Canada showed …

  • Putin meets Hollande in Yerevan
    No decision yet on Mistral, France's … Reuters - Fri, 24 Apr, 2015

    YEREVAN/PARIS (Reuters) - No decision has yet been taken on the future of France's suspended contract to deliver Mistral helicopter carriers to Russia, French President … More »No decision yet on Mistral, France's …

    Putin meets Hollande in Yerevan

    YEREVAN/PARIS (Reuters) - No decision has yet been taken on the future of France's suspended contract to deliver Mistral helicopter carriers to Russia, French President Francois Hollande said on Friday after meeting Russian President Vladimir Putin. "As far as the Mistral is concerned I have set the terms. Separately, …

  • Oil shock will hurt but will be short … CBC - Fri, 24 Apr, 2015

    In a speech in Washington on Friday, Stephen Poloz said the impact of lower oil prices hit the economy hard in the first quarter of the year. "Starting in the second … More »Oil shock will hurt but will be short …

    In a speech in Washington on Friday, Stephen Poloz said the impact of lower oil prices hit the economy hard in the first quarter of the year. "Starting in the second quarter we think the positives will be more important than the negatives, and certainly in the second half of this year, this shock should be fully behind …

  • A worker stacks boxes of TV sets before moving them to the warehouse at Element Electronics
    Weak U.S. business spending data hints … Reuters - Fri, 24 Apr, 2015

    By Lucia Mutikani WASHINGTON (Reuters) - U.S. business investment spending plans fell for a seventh straight month in March, weighed down by a strong dollar and lower … More »Weak U.S. business spending data hints …

    A worker stacks boxes of TV sets before moving them to the warehouse at Element Electronics

    By Lucia Mutikani WASHINGTON (Reuters) - U.S. business investment spending plans fell for a seventh straight month in March, weighed down by a strong dollar and lower energy prices, suggesting the economy was struggling to rebound from a recent soft patch. The report from the Commerce Department on Friday came on the …

  • Still image from video shows Italian Policemen detaining a man suspected to be member of armed organisation inspired by al Qaeda in this still image taken from a video released by Italian Police
    Suspected Al-Qaeda militants arrested … Reuters - Fri, 24 Apr, 2015

    By Philip Pullella ROME (Reuters) - Italian police on Friday arrested 10 people and were looking for eight others suspected of belonging to an armed group linked to … More »Suspected Al-Qaeda militants arrested …

    Still image from video shows Italian Policemen detaining a man suspected to be member of armed organisation inspired by al Qaeda in this still image taken from a video released by Italian Police

    By Philip Pullella ROME (Reuters) - Italian police on Friday arrested 10 people and were looking for eight others suspected of belonging to an armed group linked to al Qaeda who had plotted attacks in Pakistan and Afghanistan and at least at one point the Vatican. Some of the suspects, who are all Pakistanis and Afghans, …

  • Canadian dollar above 82 cents US and … CBC - Fri, 24 Apr, 2015

    The Canadian dollar closed above 82 cents US on Friday after a week in which strengthening oil prices drew the currency higher. On Friday, the West Texas Intermediate … More »Canadian dollar above 82 cents US and …

    The Canadian dollar closed above 82 cents US on Friday after a week in which strengthening oil prices drew the currency higher. On Friday, the West Texas Intermediate crude contract was trading at $57.21 US a barrel, down from its high over $58 on Thursday.

  • Bank of Canada Governor Stephen Poloz arrives at a news conference in Ottawa
    Oil price shock soon to be positive … Reuters - Fri, 24 Apr, 2015

    Canada's economy will start to show more positive than negative effects from the drop in oil prices from the second quarter onwards, Bank of Canada Governor Stephen Poloz … More »Oil price shock soon to be positive …

    Bank of Canada Governor Stephen Poloz arrives at a news conference in Ottawa

    Canada's economy will start to show more positive than negative effects from the drop in oil prices from the second quarter onwards, Bank of Canada Governor Stephen Poloz said on Friday. The Bank of Canada kept interest rates on hold last week after a surprise 25-basis-point cut in January, and markets have unwound bets …

  • A man looks at job information at an employment fair beside a street in Zhengzhou
    China says employment resilient despite … Reuters - Fri, 24 Apr, 2015

    By Kevin Yao BEIJING (Reuters) - China said on Friday that urban employment held up in the first quarter even as economic growth slowed to a 6-year low, but the labor … More »China says employment resilient despite …

    A man looks at job information at an employment fair beside a street in Zhengzhou

    By Kevin Yao BEIJING (Reuters) - China said on Friday that urban employment held up in the first quarter even as economic growth slowed to a 6-year low, but the labor ministry warned that authorities cannot be "blindly optimistic" as the pace of job creation is slowing. The urban unemployment rate was at 4.05 percent …

  • Aerial view shows reactor buildings at Kansai Electric Power Co.'s Takahama nuclear power plant in Takahama town, Fukui prefecture
    Japan government draft: nuclear to be … Reuters - Thu, 23 Apr, 2015

    Japan's government has proposed making nuclear energy account for between 20 and 22 percent of the country's electricity mix by 2030, with renewable energy to account … More »Japan government draft: nuclear to be …

    Aerial view shows reactor buildings at Kansai Electric Power Co.'s Takahama nuclear power plant in Takahama town, Fukui prefecture

    Japan's government has proposed making nuclear energy account for between 20 and 22 percent of the country's electricity mix by 2030, with renewable energy to account for slightly more, media reported on Friday. The proposal on nuclear energy, if adopted, is likely to be unpopular among a public that opinion polls show …

  • Ontario pledges smaller deficits; labor … Reuters - Thu, 23 Apr, 2015

    By Andrea Hopkins TORONTO (Reuters) - Ontario’s Liberal government trimmed its budget deficit forecasts for the next two years on Thursday as it unveiled a budget that … More »Ontario pledges smaller deficits; labor …

    By Andrea Hopkins TORONTO (Reuters) - Ontario’s Liberal government trimmed its budget deficit forecasts for the next two years on Thursday as it unveiled a budget that seeks cost cuts in education and healthcare, a move toward austerity that could spark labor unrest across the province. Ontario, Canada’s most populous …

  • Man holds a leaflet at a military veterans' job fair in Carson
    Soft U.S. economic data suggests mild … Reuters - Thu, 23 Apr, 2015

    By Lucia Mutikani WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment aid edged up last week for a third straight week, but the underlying … More »Soft U.S. economic data suggests mild …

    Man holds a leaflet at a military veterans' job fair in Carson

    By Lucia Mutikani WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment aid edged up last week for a third straight week, but the underlying trend continued to point to solid momentum in the labor market. Still, the rise in jobless claims and other data on Thursday showing weak new home sales …

  • Rebel seizure of Syrian border post … Reuters - Thu, 23 Apr, 2015

    By Suleiman Al-Khalidi AMMAN (Reuters) - Syrian rebels' seizure of the main frontier crossing with Jordan has dealt a heavy blow to the Damascus government's efforts to revive a once thriving export trade crippled by civil war, and is also hurting businesses across the region. Along with Syrian and Jordanian firms involved …

  • Canadian export growth will be muted in 2015 as a 23 per cent drop in the value of energy exports wipes out gains in other areas, according a forecast from Export Development Canada. Exports of aircraft and parts, motor vehicles and parts, industrial equipment, advanced technology, fertilizers and consumer goods are expected …

 
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