Economy News

Policemen stand guard near Independent National Electoral Commission in Kano

Nigeria vote runs into second day after glitches, killings

By Tim Cocks and Bate Felix ABUJA (Reuters) - Voting in Nigeria's tensest election since the end of military rule in 1999 spilled into a second day on Sunday after technical glitches hit voter ID machines and Islamist Boko Haram militants killed more than a dozen people in drive-by shootings. The race pits President Goodluck Jonathan against former military ruler Muhammadu Buhari for the favor …

  • ArabNet showcases 'transformative force' of Mideast tech sector
    ArabNet showcases 'transformative … CBC - 10 hours ago

    It’s fair to assume that when the average westerner thinks of Beirut, they’re more likely to picture sectarian conflict than digital innovation. Kelly Hoey, a New York-based … More »ArabNet showcases 'transformative …

    ArabNet showcases 'transformative force' of Mideast tech sector

    It’s fair to assume that when the average westerner thinks of Beirut, they’re more likely to picture sectarian conflict than digital innovation. Kelly Hoey, a New York-based Canadian who founded the startup accelerator Women Innovate Mobile, cited the quality of education in the Middle East and a plethora of advanced degrees …

  • Zhou delivers a speech in Beijing
    China central bank governor calls for … Reuters - 13 hours ago

    By Adam Jourdan BOAO, China (Reuters) - China's central bank governor Zhou Xiaochuan warned on Sunday that the country needs to be vigilant for signs of deflation and … More »China central bank governor calls for …

    Zhou delivers a speech in Beijing

    By Adam Jourdan BOAO, China (Reuters) - China's central bank governor Zhou Xiaochuan warned on Sunday that the country needs to be vigilant for signs of deflation and said policymakers were closely watching slowing global economic growth and declining commodity prices. Zhou's comments are likely to add to concerns that …

  • Brazil's Finance Minister Joaquim Levy reacts during a news conference in Brasilia
    Brazil minister Levy privately criticized … Reuters - 18 hours ago

    SAO PAULO/RIO DE JANEIRO (Reuters) - Brazilian Finance Minister Joaquim Levy mildly criticized President Dilma Rousseff, saying she does not always act in "the most effective … More »Brazil minister Levy privately criticized …

    Brazil's Finance Minister Joaquim Levy reacts during a news conference in Brasilia

    SAO PAULO/RIO DE JANEIRO (Reuters) - Brazilian Finance Minister Joaquim Levy mildly criticized President Dilma Rousseff, saying she does not always act in "the most effective way," in remarks at a time when investors are watching for signs of tension between the two philosophically different leaders. Levy made the comment …

  • The Future Shop store in Dartmouth, N.S. is seen on Saturday, March 28, 2015. The company is closing 66 stores for good, while 65 others will become Best Buy Stores. THE CANADIAN PRESS/Andrew Vaughan
    Future Shop stores closing, some converting … The Canadian Press - 23 hours ago

    TORONTO - Future Shop stores across Canada are closing effective immediately, to the shock of customers and dismay of hundreds of employees losing full and part-time … More »Future Shop stores closing, some converting …

    The Future Shop store in Dartmouth, N.S. is seen on Saturday, March 28, 2015. The company is closing 66 stores for good, while 65 others will become Best Buy Stores. THE CANADIAN PRESS/Andrew Vaughan

    TORONTO - Future Shop stores across Canada are closing effective immediately, to the shock of customers and dismay of hundreds of employees losing full and part-time jobs.

  • Le blogueur saoudien Raïf Badawi échappe à nouveau à la flagellation
    Saudi blogger Badawi views survival … Reuters - Sat, 28 Mar, 2015

    Jailed Saudi blogger Raif Badawi has described in his first public remarks from prison how he "miraculously survived 50 lashes" as part of a conviction that sparked an … More »Saudi blogger Badawi views survival …

    Le blogueur saoudien Raïf Badawi échappe à nouveau à la flagellation

    Jailed Saudi blogger Raif Badawi has described in his first public remarks from prison how he "miraculously survived 50 lashes" as part of a conviction that sparked an international outcry, the German weekly Der Spiegel reported on Saturday. Badawi was arrested in 2012 for offences including insulting Islam, cyber crime …

  • An illustration picture shows the logo of car-sharing service app Uber on a smartphone next to the picture of an official German taxi sign
    Uber plans legal taxi service in Germany … Reuters - Sat, 28 Mar, 2015

    Uber aims to launch a service in Germany by this summer that will allow its novel taxi-hailing service to operate legally in Europe's biggest economy, the company's German … More »Uber plans legal taxi service in Germany …

    An illustration picture shows the logo of car-sharing service app Uber on a smartphone next to the picture of an official German taxi sign

    Uber aims to launch a service in Germany by this summer that will allow its novel taxi-hailing service to operate legally in Europe's biggest economy, the company's German chief was quoted saying by weekly magazine Wirtschafts Woche (WiWo). The move comes after a German court earlier this month banned Uber from running …

  • U.S. Federal Reserve Chair Janet Yellen arrives for a luncheon at the Federal Reserve in San Francisco, California
    Fed's Yellen sees gradual rate hikes … Reuters - Fri, 27 Mar, 2015

    By Ann Saphir and Michael Flaherty SAN FRANCISCO/WASHINGTON (Reuters) - Federal Reserve Chair Janet Yellen signaled that the U.S. central bank will likely start raising … More »Fed's Yellen sees gradual rate hikes …

    U.S. Federal Reserve Chair Janet Yellen arrives for a luncheon at the Federal Reserve in San Francisco, California

    By Ann Saphir and Michael Flaherty SAN FRANCISCO/WASHINGTON (Reuters) - Federal Reserve Chair Janet Yellen signaled that the U.S. central bank will likely start raising borrowing costs later this year, even before inflation and wages have returned to health, but emphasized the return to normal interest rates will be gradual. …

  • A man walks past an old Toronto Stock Exchange sign in Toronto
    TSX drops as energy, financial shares … Reuters - Fri, 27 Mar, 2015

    By Solarina Ho TORONTO (Reuters) - Canada's main stock index finished lower on Friday in a retreat led by financial stocks and by energy companies, which were pulled … More »TSX drops as energy, financial shares …

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

    By Solarina Ho TORONTO (Reuters) - Canada's main stock index finished lower on Friday in a retreat led by financial stocks and by energy companies, which were pulled down by a sharp fall in crude prices. The overall energy group fell 0.9 percent and a major decliner in the sector was Vermilion Energy Inc , down 2.2 percent …

  • Policemen walk in front of posters of candidates of Nigeria's President Goodluck Jonathan People's Democratic Party in Kano
    Nigeria president warns against bloodshed … Reuters - Fri, 27 Mar, 2015

    By Tim Cocks and Bate Felix ABUJA (Reuters) - Nigerian President Goodluck Jonathan warned against violence ahead of Saturday's presidential election as people stockpiled … More »Nigeria president warns against bloodshed …

    Policemen walk in front of posters of candidates of Nigeria's President Goodluck Jonathan People's Democratic Party in Kano

    By Tim Cocks and Bate Felix ABUJA (Reuters) - Nigerian President Goodluck Jonathan warned against violence ahead of Saturday's presidential election as people stockpiled food, cash and fuel for fear of post-election clashes. Jonathan will face former military ruler Muhammadu Buhari in what is seen as the closest presidential …

  • U.S. economy slowed down in 4th quarter, … CBC - Fri, 27 Mar, 2015

    The U.S. economy turned in a tepid 2.2 per cent growth rate in the 4th quarter of 2014 and it is likely the slowdown continued into the first quarter of 2015. More »U.S. economy slowed down in 4th quarter, …

    The U.S. economy turned in a tepid 2.2 per cent growth rate in the 4th quarter of 2014 and it is likely the slowdown continued into the first quarter of 2015.

  • A man pushes his shopping cart down an aisle at a Home Depot store in New York
    U.S. economic growth slows in fourth … Reuters - Fri, 27 Mar, 2015

    By Lucia Mutikani WASHINGTON (Reuters) - U.S. economic growth cooled in the fourth quarter as previously reported and after-tax corporate profits took a hit from a strong … More »U.S. economic growth slows in fourth …

    A man pushes his shopping cart down an aisle at a Home Depot store in New York

    By Lucia Mutikani WASHINGTON (Reuters) - U.S. economic growth cooled in the fourth quarter as previously reported and after-tax corporate profits took a hit from a strong dollar, which could undermine future business spending. Corporate profits from outside the United States fell at an 8.8 percent rate, the steepest decline …

  • Workers walk past the construction site of Medupi power station in Lephalele
    South Africa's Eskom fires 1,000 … Reuters - Fri, 27 Mar, 2015

    By Peroshni Govender JOHANNESBURG (Reuters) - South African utility Eskom [ESCJ.UL] fired 1,000 workers at a power plant on Friday and its chief executive failed to … More »South Africa's Eskom fires 1,000 …

    Workers walk past the construction site of Medupi power station in Lephalele

    By Peroshni Govender JOHANNESBURG (Reuters) - South African utility Eskom [ESCJ.UL] fired 1,000 workers at a power plant on Friday and its chief executive failed to overturn his suspension, worsening the turmoil at the company. Africa's most advanced economy is suffering its most severe power shortage since 2008 as state-owned …

  • Salesforce.com cancels all events in … CBC - Fri, 27 Mar, 2015

    The president of one of the biggest U.S. cloud computing companies has cancelled all his company's events in Indiana after the state signed a bill into law that critics … More »Salesforce.com cancels all events in …

    The president of one of the biggest U.S. cloud computing companies has cancelled all his company's events in Indiana after the state signed a bill into law that critics say gives business owners the right to refuse to serve gay and lesbian customers. Gov. Mike Pence signed into law a controversial  Religious Freedom Restoration …

  • People walk past a branch of Banca Privada D'Andorra (BPA) in Andorra la Vella
    Andorra to create 'bad bank' … Reuters - Fri, 27 Mar, 2015

    By Carlos Ruano MADRID (Reuters) - Andorra will create a 'bad bank' to group the assets of Banca Privada d'Andorra (BPA) linked to illicit activity, it said late on … More »Andorra to create 'bad bank' …

    People walk past a branch of Banca Privada D'Andorra (BPA) in Andorra la Vella

    By Carlos Ruano MADRID (Reuters) - Andorra will create a 'bad bank' to group the assets of Banca Privada d'Andorra (BPA) linked to illicit activity, it said late on Thursday, as the principality battles to rebuild the reputation of its banking system. Andorra, a small mountainous state whose economy relies heavily on …

  • Employees of French carmaker PSA Peugeot Citroen work on the new engine "EB" assembly line at the company engines factory in Tremery near Metz
    Peugeot French production increase earns … Reuters - Fri, 27 Mar, 2015

    By Laurence Frost PARIS (Reuters) - PSA Peugeot Citroen said on Friday it had chosen a French factory over a rival Spanish plant to expand engine production, prompting … More »Peugeot French production increase earns …

    Employees of French carmaker PSA Peugeot Citroen work on the new engine "EB" assembly line at the company engines factory in Tremery near Metz

    By Laurence Frost PARIS (Reuters) - PSA Peugeot Citroen said on Friday it had chosen a French factory over a rival Spanish plant to expand engine production, prompting a visit by President Francois Hollande to highlight a bright spot in France's gloomy labor market. The eastern French plant beat out Peugeot's factory …

  • Japan core consumer inflation grinds … Reuters - Thu, 26 Mar, 2015
    Pedestrians walk past a show window of a clothing store at Harajuku shopping district in Tokyo

    By Leika Kihara TOKYO (Reuters) - Japan's annual core consumer inflation ground to a halt in February, the first time it has stopped rising in nearly two years, keeping the central bank under pressure to expand monetary stimulus later this year. Other data published on Friday didn't offer much solace with household spending …

  • Alberta tabled a budget today that will cost residents $1.5 billion in extra taxes, while still running a deficit of $5 billion. The reaction from the business community is mixed: relieved that there was no increase in the corporate tax rate, and concern that Albertans will have less disposable income in a time when the …