Economy News

A TMX Group sign, the company that runs the Toronto Stock Exchange, is seen in Toronto

TSX snaps seven-day skid on energy bounce

By Alastair Sharp TORONTO (Reuters) - Canada's main stock index broke a seven-day slump on Tuesday as investors picked through earnings reports for glimmers of hope and resource stocks bounced off recent lows. "I don't think funds are aggressively buying or selling here," said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier. Because we've come down a fair bit a lot of the…

  • China says not planning military bases … Reuters - Tue, 28 Jul, 2015

    China is not planning to build military bases on the Maldives, the foreign ministry said on Tuesday, after the Maldives allowed foreigners to own land despite opposition … More »China says not planning military bases …

    China is not planning to build military bases on the Maldives, the foreign ministry said on Tuesday, after the Maldives allowed foreigners to own land despite opposition concern the reform could be used for military expansion by China. The Indian Ocean island nation passed legislation last week to allow foreigners to own …

  • A man walks past an old Toronto Stock Exchange sign in Toronto
    China worry hits Canada's TSX h … Reuters - Mon, 27 Jul, 2015

    By Alastair Sharp TORONTO (Reuters) - Canada's main stock index fell sharply on Monday, hitting its lowest level since January, in a broad retreat as heavyweight resource-based … More »China worry hits Canada's TSX h …

    A man walks past an old Toronto Stock Exchange sign in Toronto

    By Alastair Sharp TORONTO (Reuters) - Canada's main stock index fell sharply on Monday, hitting its lowest level since January, in a broad retreat as heavyweight resource-based companies dipped on lower commodity prices and the latest plunge in Chinese equities. The 1.3 percent drop was the seventh straight session of …

  • An investor stands in front of an electronic board showing stock information at a brokerage house in Qingdao
    Chinese regulator vows share support … Reuters - Mon, 27 Jul, 2015

    By Samuel Shen and Pete Sweeney SHANGHAI (Reuters) - China said on Monday it was prepared to buy shares to stabilize the stock market and avert "systemic risks", after … More »Chinese regulator vows share support …

    An investor stands in front of an electronic board showing stock information at a brokerage house in Qingdao

    By Samuel Shen and Pete Sweeney SHANGHAI (Reuters) - China said on Monday it was prepared to buy shares to stabilize the stock market and avert "systemic risks", after major indices plunged more than 8 percent in the biggest one-day fall since 2007. The securities regulator also said market authorities would deal severely …

  • TSX, Dow head lower after Shanghai stock … CBC - Mon, 27 Jul, 2015

    North American stock markets were knocked back on Monday, with the TSX dipping below 14,000 for the first time since December, after China's main stock index lost eight … More »TSX, Dow head lower after Shanghai stock …

    North American stock markets were knocked back on Monday, with the TSX dipping below 14,000 for the first time since December, after China's main stock index lost eight per cent in its worst one-day performance since 2007. The Shanghai share index suffered a renewed sell-off despite government efforts to calm the market, …

  • Peru's opposition wins Congress … Reuters - Sun, 26 Jul, 2015

    Peruvian lawmakers elected an opposition legislator as head of Congress on Sunday in a new but hardly unsurprising defeat for the ruling party and increasingly unpopular … More »Peru's opposition wins Congress …

    Peruvian lawmakers elected an opposition legislator as head of Congress on Sunday in a new but hardly unsurprising defeat for the ruling party and increasingly unpopular President Ollanta Humala who is in his last year in office. Luis Iberico of the small Alliance for Progress party won with backing from lawmakers loyal …

  • A woman walks past an Alpha Bank ATM and a shopping window announcing sales in central Athens
    Debt conundrum to keep Greek banks in … Reuters - Sun, 26 Jul, 2015

    By John O'Donnell, Lefteris Papadimas and Francesco Canepa FRANKFURT/ ATHENS (Reuters) - Greek banks are set to keep broad cash controls in place for months, until fresh … More »Debt conundrum to keep Greek banks in …

    A woman walks past an Alpha Bank ATM and a shopping window announcing sales in central Athens

    By John O'Donnell, Lefteris Papadimas and Francesco Canepa FRANKFURT/ ATHENS (Reuters) - Greek banks are set to keep broad cash controls in place for months, until fresh money arrives from Europe and with it a sweeping restructuring, officials believe. "This is not like Cyprus where you can say these are just Russian …

  • A staff removes the Iranian flag from the stage after a group picture with foreign ministers and representatives during the Iran nuclear talks at the Vienna International Center in Vienna
    Foreign insurers taking cautious look … Reuters - Sun, 26 Jul, 2015

    By Carolyn Cohn and Bernardo Vizcaino LONDON/SYDNEY (Reuters) - Western and Middle East insurance specialists see Iran as an appealing $8 billion (£5 billion) market … More »Foreign insurers taking cautious look …

    A staff removes the Iranian flag from the stage after a group picture with foreign ministers and representatives during the Iran nuclear talks at the Vienna International Center in Vienna

    By Carolyn Cohn and Bernardo Vizcaino LONDON/SYDNEY (Reuters) - Western and Middle East insurance specialists see Iran as an appealing $8 billion (£5 billion) market in the wake of its nuclear deal with world powers, though uncertainty over when sanctions on Tehran will be lifted means they are treating the country with …

  • Supporters of Lebanon's Hezbollah leader Sayyed Hassan Nasrallah gesture as he appears on a screen during a rally to mark "Quds Day" in Beirut's southern suburbs
    Lebanon's Hezbollah leader says … Reuters - Sat, 25 Jul, 2015

    By Suleiman Al-Khalidi BEIRUT (Reuters) - The Lebanese Hezbollah group believes it can still count on Iran's support following Tehran's nuclear deal with world powers, … More »Lebanon's Hezbollah leader says …

    Supporters of Lebanon's Hezbollah leader Sayyed Hassan Nasrallah gesture as he appears on a screen during a rally to mark "Quds Day" in Beirut's southern suburbs

    By Suleiman Al-Khalidi BEIRUT (Reuters) - The Lebanese Hezbollah group believes it can still count on Iran's support following Tehran's nuclear deal with world powers, leader Sayyed Hassan Nasrallah said on Saturday. In his first public remarks since the agreement was reached this month in Vienna, Nasrallah said he was …

  • A general view of the public beach called "La Mirandole" which is seen below the villa owned by the king of Saudi Arabia in Vallauris - Golf Juan
    Saudi king's French Riviera holiday … Reuters - Sat, 25 Jul, 2015

    Saudi King Salman and a 1,000-entourage arrived on Saturday for holiday on the French Riviera, where over 100,000 residents have petitioned against the closure of the … More »Saudi king's French Riviera holiday …

    A general view of the public beach called "La Mirandole" which is seen below the villa owned by the king of Saudi Arabia in Vallauris - Golf Juan

    Saudi King Salman and a 1,000-entourage arrived on Saturday for holiday on the French Riviera, where over 100,000 residents have petitioned against the closure of the public beach outside his villa. The new king and his inner circle's three-week visit at the family's seafront villa in Vallauris, where U.S. actress Rita …

  • Canada's PM Harper addresses supporters at annual Stampede breakfast during Calgary Stampede in Calgary
    Canada PM Harper says on track for balanced … Reuters - Fri, 24 Jul, 2015

    By Rod Nickel REGINA, Saskatchewan (Reuters) - Canada is well on track to realize a balanced budget this year, Prime Minister Stephen Harper reiterated on Friday, saying … More »Canada PM Harper says on track for balanced …

    Canada's PM Harper addresses supporters at annual Stampede breakfast during Calgary Stampede in Calgary

    By Rod Nickel REGINA, Saskatchewan (Reuters) - Canada is well on track to realize a balanced budget this year, Prime Minister Stephen Harper reiterated on Friday, saying that an economic slowdown caused by cheap oil prices was not the time to send the country into massive deficits.

  • UCCB cheques won't stimulate economy … CBC - Fri, 24 Jul, 2015

    Canadian families may have big plans for the sudden influx of backdated Universal Child Care Benefit cheques that Ottawa mailed out this week, but there's little evidence … More »UCCB cheques won't stimulate economy …

    Canadian families may have big plans for the sudden influx of backdated Universal Child Care Benefit cheques that Ottawa mailed out this week, but there's little evidence that the economy as a whole is going to benefit from them, one of Canada's biggest banks said Friday. Based on Shenfeld's crunching of the numbers, however, …

  • An employee works on a final assembly line for CRH380B, a high speed train model, at China CNR's Tangshan Railway Vehicle's factory in Tangshan
    Second half of 2015 begins on shaky … Reuters - Fri, 24 Jul, 2015

    By Wayne Cole, Hugh Lawson and Caroline Valetkevitch LONDON/NEW YORK (Reuters) - The global economy started the second half of the year on shaky ground with China's … More »Second half of 2015 begins on shaky …

    An employee works on a final assembly line for CRH380B, a high speed train model, at China CNR's Tangshan Railway Vehicle's factory in Tangshan

    By Wayne Cole, Hugh Lawson and Caroline Valetkevitch LONDON/NEW YORK (Reuters) - The global economy started the second half of the year on shaky ground with China's factory sector activity contracting in July at the fastest pace in 15 months and euro zone manufacturing weaker than expected, although U.S. activity picked …

  • Greek Prime Minister Alexis Tsipras leaves his office at the Maximos Mansion to attend a meal at the Presidential Palace in Athens
    Greece loosens capital restrictions … Reuters - Fri, 24 Jul, 2015

    Greece started loosening restrictions on foreign transfers by businesses on Friday, unblocking imports held up after the country introduced capital controls last month. … More »Greece loosens capital restrictions …

    Greek Prime Minister Alexis Tsipras leaves his office at the Maximos Mansion to attend a meal at the Presidential Palace in Athens

    Greece started loosening restrictions on foreign transfers by businesses on Friday, unblocking imports held up after the country introduced capital controls last month. "The daily limit (on money transfers) has been raised to 100,000 euros from 50,000 euros," central bank governor Yannis Stournaras told reporters, adding …

  • A lock icon, signifying an encrypted Internet connection, is seen on an Internet Explorer browser in Paris
    Exclusive: U.S. Treasury's intelligence … Reuters - Thu, 23 Jul, 2015

    By Jason Lange WASHINGTON (Reuters) - Lax security left the U.S. Treasury's computer system for tracking overseas threats to America's financial system vulnerable to … More »Exclusive: U.S. Treasury's intelligence …

    A lock icon, signifying an encrypted Internet connection, is seen on an Internet Explorer browser in Paris

    By Jason Lange WASHINGTON (Reuters) - Lax security left the U.S. Treasury's computer system for tracking overseas threats to America's financial system vulnerable to hackers, according to a government audit prepared in late 2014 and obtained by Reuters. The Treasury Foreign Intelligence Network is used by U.S. spy agencies …

  • Greek PM Tsipras votes during a parliamentary session in Athens
    Laws passed, Greece to open bailout … Reuters - Thu, 23 Jul, 2015

    By Angeliki Koutantou and Francesco Guarascio ATHENS/BRUSSELS (Reuters) - Greece's creditors prepared on Thursday for the start of bailout talks in Athens, after lawmakers … More »Laws passed, Greece to open bailout …

    Greek PM Tsipras votes during a parliamentary session in Athens

    By Angeliki Koutantou and Francesco Guarascio ATHENS/BRUSSELS (Reuters) - Greece's creditors prepared on Thursday for the start of bailout talks in Athens, after lawmakers adopted a second package of reform measures before dawn despite a left wing rebellion that may bring early elections. In a sign of how the goal of …

  • Dow Chemical CEO Andrew Liveris and Dangote Group CEO Aliko Dangote take the stage for a panel discussion as part of the U.S.-Africa Business Forum in Washington

    (Reuters) - Dow Chemical Co warned of soft demand in China, raising concerns that the largest U.S. chemical maker by revenue would not be able to maintain its growth rate in the key market. Dow's stock fell as much as 6 percent on Thursday, reversing course from an increase in premarket trading when the company reported …

  • Canada's economy to bounce out of … Reuters - Thu, 23 Jul, 2015
    A man is reflected in a window while walking past the Bank of Canada office in Ottawa

    By Anu Bararia and Leah Schnurr BENGALURU/OTTAWA (Reuters) - The Canadian economy is already bouncing back from a slump in the first half of the year, but it remains vulnerable to further falls in oil prices and any renewed weakness in export demand from the United States, a Reuters poll found. After the economy contracted …