Atsushi Nakajima, Chairman of the Research Institute of Economy, Trade and Industry, outlines reasons for the trade imbalance and explains why exports will be sluggish in the near term.» Read More
WASHINGTON/ FRANKFURT, July 23- After injecting trillions of dollars into the global financial system over the last six years, the world's central bankers now face a vexing question: why is so little of it showing up in workers' paychecks?
NEW YORK, July 24- The euro rose on Thursday from an eight-month low versus the U.S. dollar on better-than-expected German and French business data, while the New Zealand dollar sank after that nation's central bank hinted it may pause in raising rates further.
TOKYO— World shares were rattled Thursday by reports the European Union is weighing stiffer financial sanctions against Russia.
HONG KONG— As activists vow to shut down Hong Kong's financial district in protest at China's attempt to hobble democratic elections in the city, businessman Bernard Chan is preparing for the worst. The former British colony came back under China's control in 1997 but retains its own legal and financial systems and a high degree of control over its affairs.
TOKYO— Improvements in life spans, education and incomes are slowing due to natural disasters, misguided government policies and worsening inequality in a world where the 85 richest people have as much wealth as the 3.5 billion poorest people, the United Nations said Thursday in its annual human development report.
By Shinichi Saoshiro and Ian Chua. TOKYO/ SYDNEY, July 24- The New Zealand dollar skidded to a six-week low on Thursday after the country's central bank switched to a wait-and-see stance following its fourth straight rate hike, while its Australian peer rose after a survey showed China's factory sector expanded at its fastest pace in 18 months.
TOKYO— Japan's trade deficit surged to a record 7.6 trillion yen in the first half of the year as exports failed to keep pace with surging imports, the Finance Ministry reported Thursday.
SINGAPORE, July 24- U.S. crude was little changed near $103 a barrel in early Asian trading on Thursday, holding on to previous day gains due to a higher-than-expected decline in crude inventories. Geopolitical tensions in Eastern Europe and the Middle East helped underpin oil prices, but had yet to cause disruptions to well-supplied global crude markets.
Treasury Secretary Jacob Lew will deliver remarks at the Inaugural Rural Opportunity Investment Conference hosted by the White House Rural Council.
SHANGHAI/ LANGFANG, China, July 23- Yum Brands Inc's China division severed ties to OSI China after Shanghai police detained five people from that supplier's meat processing factory at the center of a food safety scare that has ensnared several major Western brands.
LONDON, July 23- The euro hit an eight-month low against the dollar on Wednesday as worries over tougher sanctions on Russia and their potential impact on fragile euro zone growth drove investors away from the single currency.
*EU threatens new sanctions on Russia. The European Union threatened Russia with harsher sanctions over Ukraine, while Israel pounded targets across the Gaza Strip with no ceasefire in sight. Brent crude for September delivery fell 27 cents to $107.06 a barrel by 0700 GMT, after slipping 35 cents in the previous session.
SHANGHAI, July 23- Shanghai police said on Wednesday they detained five people in an investigation into a Chinese-based supplier of foreign fast-food brands, including KFC, McDonald's Corp and coffee chain Starbucks Corp, over allegations the firm supplied old and rotten meat.
But a cautious mood was expected to return in early European trade, where spreadbetters predicted Britain's FTSE 100 to open 8 to 15 points lower, or down as much as 0.2 percent; Germany's DAX to open down 20 to 22 points, or 0.2 percent lower; and France's CAC 40 to open 5 to 6 points lower, or down 0.1 percent.
*EU threatens new sanctions on Russia. The European Union threatened Russia with harsher sanctions over Ukraine, while Israel pounded targets across the Gaza Strip with no ceasefire in sight. Brent crude for September delivery fell 11 cents to $107.22 a barrel by 0603 GMT, after slipping 35 cents in the previous session.
TOKYO/ SYDNEY, July 23- The dollar held close to a six-week peak against a basket of currencies in Asian trade on Wednesday, as the euro edged down to touch a fresh 2014 low on the diverging interest rate outlook for the U.S. and euro zone.
Hong Kong's Hang Seng was up 0.8 percent to 23,962.98 and Australia's S&P/ASX 200 rose 0.6 percent to 5,575.10 helped by the brisk output report by mining giant BHP Billiton.
EU threatens new sanctions on Russia. The European Union threatened Russia with harsher sanctions over Ukraine, while Israel pounded targets across the Gaza Strip with no ceasefire in sight. Brent crude for September delivery fell 6 cents to $107.27 a barrel by 0333 GMT, after slipping 35 cents in the previous session.
Violence continued in Gaza, but hopes rose for an easing of tension in Ukraine after pro-Russian rebels handed the flight recorders and victims' remains from a downed Malaysian airliner to international authorities.
SINGAPORE, July 23- U.S. crude dropped to around $102 a barrel in early Asian trade on Wednesday, falling for a second consecutive session with oil supplies unaffected by continuing violence in Iraq, Ukraine and Gaza. The report from U.S. Department of Energy's Energy Information Administration is due at 1430 GMT.