Producer prices mount 0.6 percent in July
August 14 2007 9:30 AM
Producer prices rose by a more-than-expected 0.6 percent in July, Labor Department data on Tuesday showed, but the gain was driven by energy costs and core inflation at the producer level grew only slightly.
Majority of working Indians earning less than 50 cents a day: Study
August 13 2007 11:12 PM
A study has revealed that at least 86 percent of working Indians earn less than Rs. 20 or just under half a U.S. dollar a day in spite of the blistering pace of growth of the nation's economy.
Solid retail sales boost hopes for growth
August 13 2007 3:25 PM
Consumers spent more boldly than expected last month as declining gasoline prices shielded household budgets, government data showed on Monday. Sales at U.S. retailers rose a slightly more-than-expected 0.3 percent in July and core sales, which strip out car, building materials and gasoline sales, were even stronger, the Commerce Department data showed.
Fugitive Alexander secures extradition delay
August 13 2007 1:49 PM
Fugitive U.S. millionaire Jacob 'Kobi' Alexander, who has made political connections and pledged to invest millions of dollars in Namibia, secured another delay in his extradition hearing on Monday.
Central banks add money for third day
August 13 2007 1:47 PM
Central banks in the world's leading economies pumped money for a third day into the financial system on Monday, but in smaller amounts as investor nerves steadied over the dangers of a credit squeeze.
Temporary jobs drop may augur slower growth
August 13 2007 1:44 PM
The economy has added non-farm jobs at a steady pace so far this year, but with businesses cutting back on hiring temporary workers, economists say the labor market may be on course to weaken.
China inflation surges, but not yet a global peril
August 13 2007 10:52 AM
As China's export prices rise, a pressing global debate is emerging: is the 'China price' pumping up world inflation?
Asia's central banks move to calm nervous markets
August 13 2007 6:36 AM
Asia's central banks took further steps on Monday to calm markets roiled by fears over a credit squeeze, with the Bank of Japan injecting $5.1 billion into the banking system and others pledging to follow suit if needed.
Venezuela's Chavez says oil headed for $100 barrel
August 13 2007 6:09 AM
World oil prices are headed for $100 per barrel, Venezuelan President Hugo Chavez predicted on Saturday, and said he will cut supplies to the United States if the U.S. government attacks the South American nation again.
China jails reporter for cardboard dumpling hoax
August 13 2007 6:07 AM
A Chinese court on Sunday sentenced a television reporter to one year in jail for fabricating a report that Beijing dumpling makers used cardboard as a filling.
Economic policy mistakes hurt Iraq: U.S. official
August 13 2007 6:05 AM
Years of economic policy mistakes after the fall of Saddam Hussein left unemployed young Iraqis easy targets for recruitment by al Qaeda and other insurgents, a U.S. Defense Department official said on Sunday.
China's central bank says economic data flashing danger
August 13 2007 6:02 AM
China's economic indicators may have entered the danger zone, forcing the central bank to continue tightening steps to prevent the economy from overheating, a senior central bank official said in remarks published on Monday.
U.S. nuclear deal protests disrupt Indian parliament
August 13 2007 5:58 AM
Noisy protests against a historic but controversial nuclear energy deal between India and the United States disrupted the Indian parliament on Monday as lawmakers demanded the government cancel the agreement.
China's mortgage quality worse than U.S.: academic
August 13 2007 12:27 AM
The quality of Chinese home loans is worse than in the United States, where a subprime mortgage crisis is causing turmoil in global financial markets, according to a prominent academic quoted in a Hong Kong newspaper on Sunday.
Growth spurt no mask for eastern German problems
August 13 2007 12:17 AM
Between the shelves of product catalogues on the wall of a spartan office in an eastern German lighting factory sits a framed quotation, in bold black lettering on silver paper, from Winston Churchill.
Sources say IPIC to choose bidders for Hyundai stake
August 13 2007 12:11 AM
Abu Dhabi's International Petroleum Investment Co. (IPIC), top shareholder of South Korea's Hyundai Oilbank Corp., will pick preferred bidders for a 35 percent stake in the refiner, sources close to the deal said on Monday.
China Public provides surveillance software: report
August 13 2007 12:09 AM
U.S.-financed China Public Security Technology will provide software that links to at least 20,000 police surveillance cameras being installed along streets in southern China, according to the New York Times on Sunday.
Japanese Q2 growth weak
August 13 2007 12:06 AM
Japan's economy grew an anemic 0.1 percent in the April-June quarter, reinforcing expectations that a shake-out in global markets will prompt the central bank to rethink a rate hike this month.
Asian growth requires pollution fight: ILO
August 13 2007 12:02 AM
Politicians need to address problems such as pollution and accelerating urbanization to ensure sustainable wealth creation in Asia, the United Nations said.
What happens on Wall Street may hit Main Street
August 10 2007 8:06 PM
Credit spreads and collateralized debt obligations may not mean much to the average U.S. consumer, but if market gyrations persist, Wall Street's pain may come home to hurt Main Street.