ECONOMY & MARKETS

90% Of China’s Super-Rich Want To Send Children Abroad

Looking Back at History
China's love affair with American education is stronger than ever. Chinese families -- including those in the burgeoning middle class -- want to send their sons and daughters to be educated in another country, with most coming to U.S. institutions.
Food Inflation Risks

CPI, PPI, Fed Speakers: This Week’s Economic Events

The economic calendar this week – April 9 to 13 -- is all about inflation. The market will be monitoring import prices, producer prices and Friday’s key consumer prices index. On the policy front, the Atlanta Fed will host 2012 Financial Markets Conference: “The Devil’s in the Details,” between April 9 and 11. We will be hearing from a bevy of Federal Reserve officials, including Chairman Ben Bernanke.
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Asian Markets Slip Again On Europe Worries

Asian shares eased Friday, when many markets were closed for the Easter holiday, as investors stayed on the sidelines ahead of key U.S. jobs data, avoiding risk after rising yields in weaker euro zone countries refueled concern about Europe.

Stagnant Wages To Hit US Economic Recovery: HSBC

The U.S. economy is expected to expand at a disappointing pace in 2012, similar to the tepid 1.7 percent growth rate achieved in 2011, despite recent job gains, according to economists at HSBC, who said wages have failed to keep up.
Chart From ABA

Consumer Loan Delinquency Rates Drop Across the Board

Consumer loan delinquency rates dropped in all 11 categories tracked by the American Bankers Association, ABA, in fourth quarter 2011, a sign that deleveraging has worked and Americans' personal financial situations have become more stable.
A Buick Excelle on display in Shangai

GM China Sales Up On Demand for Buick Excelle

GM sales in China rose sharply in March, a somewhat unexpected increase, as competitors in the country are seeing only modest gains. Sales were driven into high gear by the six-speed Buick Excelle, a luxury sedan manufactured locally that -- at over $20,000 -- is an icon of achievement for the burgeoning upper middle-class in China.
Spanish Flag

Spanish Yields Surge To Near 4-Month Highs

Spanish borrowing costs Thursday hit their highest levels since before the European Central Bank launched two massive liquidity injections to keep the euro zone's financial system from freezing up.
Bank of England

Bank Of England Keeps Interest Rates The Same

The Bank of England held back from giving Britain's fragile recovery an extra boost on Thursday, as the economy appears to have avoided falling into recession despite a shock drop in manufacturing output in the first months of 2012.
US Job Market

US Jobless Claims Fall To 357,000 - Lowest Level In 4 Years

Claims for jobless benefits fell to 357,000 last week, building up toward a solid March nonfarm payroll report that is scheduled to come out on Friday. Some economists though still fear that the improvement in the U.S. economy seen so far this year could be just another false start.
Layoffs

Planned Job Cuts In March Decline From Feb Level

U.S. employers planned 27 percent fewer job cuts in March compared with February and the lowest number of planned cuts since May 2011, global outplacement firm Challenger, Gray & Christmas Inc. said Thursday.
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Asian Shares Fall As European Debt Worry Stings Risk Appetite

Asian shares fell Thursday after a weak Spanish bond sale heightened concerns about funding difficulties by lower-rated euro zone countries, further undermining sentiment hurt by fading expectations for more stimulus from the U.S. Federal Reserve.
General Electric

GE, Best Buy Suffer Credit Rating Setbacks

Two of the most iconic American brands suffered setbacks to their credit ratings on Wednesday, evidence that some of the nation's most visible economic engines could face higher borrowing costs.
Spain

Is Spain Becoming The Next Greece?

Last year we woke up to headlines involving the home of the Acropolis and one of the worst debt situations in recent history – Greece.
China

China’s Premier: Bank Monopoly Must Be Broken

China’s Premier Wen Jiabao called the country’s state-owned banks a “monopoly” that has to be broken to allow freer flow of capital to loan-hungry smaller businesses, as the world’s second largest economy appears to have skidded to its slowest growth in three years.
Traders work on the floor of the New York Stock Exchange

Markets Tailspin On New Greek Bank Woes

Stocks and commodities plunged Wednesday after the head of the European Central Bank -- a lynchpin in the euro zone's effort to contain the effects of its sovereign debt crisis -- suggested that some Greek banks will be left to collapse.
Euro Union

Euro Zone Data Offer Further Signs Of Recession

Fresh figures on business activity and retail sales in the 17-member currency area reinforce earlier signs of recession, even as the European Central Bank left its main interest rate unchanged at an all-time low of 1 percent.

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