Economy News

Migrants set off on foot for the border with Austria from Budapest

Merkel says Germany can cope with refugees without raising taxes

Germany can cope with a record-breaking influx of refugees and migrants this year without raising taxes and without jeopardizing its goal of a balanced budget, Chancellor Angela Merkel said in a newspaper interview published on Saturday. With relatively liberal asylum laws and generous benefits, Germany is the EU's biggest recipient of people fleeing war in the Middle East and economic migrants f…

  • Federal Reserve building in Washington
    Muddled jobs report leaves Fed in a … Reuters - 4 hours ago

    By Jonathan Spicer and Jason Lange NEW YORK/RICHMOND, Va. (Reuters) - The latest U.S. jobs report was not definitively good or bad enough to help the Federal Reserve … More »Muddled jobs report leaves Fed in a …

    Federal Reserve building in Washington

    By Jonathan Spicer and Jason Lange NEW YORK/RICHMOND, Va. (Reuters) - The latest U.S. jobs report was not definitively good or bad enough to help the Federal Reserve decide whether to raise interest rates later this month, leaving the decision hanging on volatility in financial markets over the next couple of weeks. The …

  • TSX, Dow continue steep losses on jobs … CBC - 4 hours ago

    Stocks in Toronto and New York extended their losses on Friday, after jobs reports issued by both Canada and the U.S. failed to provide a definitive picture of the economy. … More »TSX, Dow continue steep losses on jobs …

    Stocks in Toronto and New York extended their losses on Friday, after jobs reports issued by both Canada and the U.S. failed to provide a definitive picture of the economy. At the end of the day, the TSX was down 118 points at 13,478. The U.S. jobs report issued earlier today showed unemployment at a seven-year low in …

  • An investor stands in front of an electronic board showing stock information at a brokerage house in Shanghai,
    G20 promises transparency on rate moves … Reuters - 4 hours ago

    By Jan Strupczewski and Randall Palmer ANKARA (Reuters) - World financial leaders will agree to calibrate and communicate monetary policy carefully to avoid triggering … More »G20 promises transparency on rate moves …

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

    By Jan Strupczewski and Randall Palmer ANKARA (Reuters) - World financial leaders will agree to calibrate and communicate monetary policy carefully to avoid triggering capital flight, but will not call an expected U.S. rate rise a risk to growth, a draft communique showed on Friday. Many emerging market economies are …

  • Man holds a framed portrait of Nigeria's President Muhammadu Buhari outside the venue of Buhari's inauguration in Abuja
    Lack of policy hurts Nigeria's economy … Reuters - 8 hours ago

    By Alexis Akwagyiram and Julia Payne LAGOS/ABUJA (Reuters) - Nigerian President Muhammadu Buhari has made sweeping changes in the oil sector and armed forces during … More »Lack of policy hurts Nigeria's economy …

    Man holds a framed portrait of Nigeria's President Muhammadu Buhari outside the venue of Buhari's inauguration in Abuja

    By Alexis Akwagyiram and Julia Payne LAGOS/ABUJA (Reuters) - Nigerian President Muhammadu Buhari has made sweeping changes in the oil sector and armed forces during his first 100 days in office but done little to convince experts that he has a clear strategy for Africa's biggest economy. Buhari, a former military ruler, …

  • Portugal political risk rises with election … Reuters - 8 hours ago

    By Axel Bugge LISBON (Reuters) - Uncertainty surrounding Portugal's general election rose on Friday as the first poll after the summer break showed the tightest race … More »Portugal political risk rises with election …

    By Axel Bugge LISBON (Reuters) - Uncertainty surrounding Portugal's general election rose on Friday as the first poll after the summer break showed the tightest race to date with no clear winner, raising the chances of political logjam after the Oct. 4 vote. The poll showed the difference between the ruling centre-right …

  • Overhead view of 2014 Spring National Job Fair and Training Expo in Toronto
    Canada adds jobs in August, but unemployment … Reuters - 9 hours ago

    By Leah Schnurr OTTAWA (Reuters) - Canada unexpectedly added jobs in August, but the unemployment rate rose to a one-year high as more people looked for work. Friday's … More »Canada adds jobs in August, but unemployment …

    Overhead view of 2014 Spring National Job Fair and Training Expo in Toronto

    By Leah Schnurr OTTAWA (Reuters) - Canada unexpectedly added jobs in August, but the unemployment rate rose to a one-year high as more people looked for work. Friday's report from Statistics Canada did not change expectations that the Bank of Canada would hold rates steady when it meets next week after cutting them twice …

  • Canada added 12,000 jobs in August CBC - 10 hours ago

    The Canadian economy added 12,000 jobs in August, but the unemployment rate ticked up to seven per cent as 40,000 more people were looking for work. Prior to August, … More »Canada added 12,000 jobs in August

    The Canadian economy added 12,000 jobs in August, but the unemployment rate ticked up to seven per cent as 40,000 more people were looking for work. Prior to August, the unemployment rate had been steady since January, at 6.8 per cent. Over the past 12 months, Canada's economy has added 193,000 jobs, Statistics Canada …

  • Trader works on the floor of the New York Stock Exchange shortly after the market opened in New York
    Investor flight from U.S. stocks fails … Reuters - 12 hours ago

    By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - The "flight to safety" into bonds many expected when U.S. stocks slumped last week never took off, making big losers … More »Investor flight from U.S. stocks fails …

    Trader works on the floor of the New York Stock Exchange shortly after the market opened in New York

    By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - The "flight to safety" into bonds many expected when U.S. stocks slumped last week never took off, making big losers out of prominent fund managers and further confusing investors at a volatile time in the market. Stocks plunged in the second half of August, largely on …

  • Canada's Finance Minister Oliver speaks to employees at  a tile and stone manufacturing company in Toronto
    G20 reforms important in light of low … Reuters - 14 hours ago

    By Randall Palmer ANKARA (Reuters) - Structural reforms being planned by the world's major economies have taken on increased importance because global growth has fallen … More »G20 reforms important in light of low …

    Canada's Finance Minister Oliver speaks to employees at  a tile and stone manufacturing company in Toronto

    By Randall Palmer ANKARA (Reuters) - Structural reforms being planned by the world's major economies have taken on increased importance because global growth has fallen behind forecasts, Canadian Finance Minister Joe Oliver told Reuters on Friday. Oliver was speaking ahead of a meeting of finance ministers and central …

  • Chinese ships headed home after Bering … Reuters - 21 hours ago

    Five Chinese Navy ships sighted in the Bering Sea off Alaska during a visit to the region by U.S. President Barack Obama have begun their "return transit," the U.S. Navy's … More »Chinese ships headed home after Bering …

    Five Chinese Navy ships sighted in the Bering Sea off Alaska during a visit to the region by U.S. President Barack Obama have begun their "return transit," the U.S. Navy's top uniformed officer told Reuters on Thursday. Chief of Naval Operations Admiral Jonathan Greenert said he did not view the incident, an apparent first …

  • A man walks past an old Toronto Stock Exchange sign in Toronto
    TSX rises, helped by banks, telcos, … Reuters - Thu, 3 Sep, 2015

    By Alastair Sharp TORONTO (Reuters) - Gains among banking and telecom stocks helped lift Canada's main stock index on Thursday, while a modest bump in the price of crude … More »TSX rises, helped by banks, telcos, …

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

    By Alastair Sharp TORONTO (Reuters) - Gains among banking and telecom stocks helped lift Canada's main stock index on Thursday, while a modest bump in the price of crude oil was not enough to lure investors back into the country's struggling energy sector. "People are picking away where they see some interesting opportunities …

  • Former Greek Prime Minister and leader of leftist Syriza party Alexis Tsipras delivers a speech during a pre-election rally in the western suburb of Egaleo, in Athens
    Greek leftists put on brave face as … Reuters - Thu, 3 Sep, 2015

    By Angeliki Koutantou and George Georgiopoulos ATHENS (Reuters) - Former Greek prime minister Alexis Tsipras's leftist Syriza party said on Thursday it remained confident … More »Greek leftists put on brave face as …

    Former Greek Prime Minister and leader of leftist Syriza party Alexis Tsipras delivers a speech during a pre-election rally in the western suburb of Egaleo, in Athens

    By Angeliki Koutantou and George Georgiopoulos ATHENS (Reuters) - Former Greek prime minister Alexis Tsipras's leftist Syriza party said on Thursday it remained confident of winning an outright victory in a Sept. 20 election despite an opinion poll that showed its main conservative rival edging ahead. A senior Syriza …

  • Lowest-paid saw 5.7% decline in real … CBC - Thu, 3 Sep, 2015

    Real wages have declined in the U.S. since the 2009 recession and the lowest-paid workers are experiencing the steepest declines, according to a study by the National … More »Lowest-paid saw 5.7% decline in real …

    Real wages have declined in the U.S. since the 2009 recession and the lowest-paid workers are experiencing the steepest declines, according to a study by the National Employment Law Project. In the period between 2009 and 2014, the 20 per cent of people in the lowest-paid occupations saw wage declines that averaged 5.7 …

  • Canadian dollar rises as markets st … CBC - Thu, 3 Sep, 2015

    The Canadian dollar was moving higher on Thursday, but a poll of currency specialists predicts more pressure ahead for the loonie. Oil got a boost on Thursday after … More »Canadian dollar rises as markets st …

    The Canadian dollar was moving higher on Thursday, but a poll of currency specialists predicts more pressure ahead for the loonie. Oil got a boost on Thursday after Saudi Aramco cut the official selling price of its crude for the U.S. market. The West Texas Intermediate contract was up 65 cents at $46.90 US a barrel and …

  • The Bank of Canada building is pictured in Ottawa
    Canada to keep interest rates on hold … Reuters - Thu, 3 Sep, 2015

    The latest round of policy easing in Canada is probably over but interest rates are expected to stay low for longer as the central bank tries to lift the economy out … More »Canada to keep interest rates on hold …

    The Bank of Canada building is pictured in Ottawa

    The latest round of policy easing in Canada is probably over but interest rates are expected to stay low for longer as the central bank tries to lift the economy out of a mild recession, a Reuters poll of economists found. An economic slowdown brought on as falling oil prices dragged down business investment and the energy …

  • The European Central Bank cut its inflation and growth forecasts on Thursday and suggested its stimulus program could be extended for a longer period. The ECB is pumping 60 billion euros ($89 billion Cdn) a month in newly printed money into the economy through purchases of government and selected corporate bonds. ECB …

  • A truck is loaded with a container at the Port of Montreal

    Canada's export sector posted healthy growth for the second month in a row in July, helping cut the country's trade deficit to an eight-month low and adding to expectations the central bank will hold rates steady when it meets next week. The trade deficit narrowed to C$593 million ($446 million), data from Statistics Canada …