*EU yet to decide, could favour China to win favour with Beijing. In a draft letter seen by Reuters, the head of the European Commission's Legal Service, Luis Romero Requena, warned the head of the trade directorate that the EU would not have a good case to disregard the effects of the World Trade Organization viewing China as a more market-based economy-- a status that...» Read More
Japan's exports hit a record high in October and the trade surplus jumped by two-thirds from a year earlier, though the increase was slightly less than forecast, raising concerns that a slowing U.S. economy will hurt Japan's export-led growth.
China's industrial production slowed more than expected in October under the weight of government tightening measures, but growth was still by far the strongest of any major economy.
Soaring food costs drove up China's inflation in October, reinforcing expectations that the Chinese retail sales jumped 18.1 percent in October from a year earlier, the fastest pace on record, propelled by rising incomes, accelerating inflation and windfall gains from the surging stock market.
The 986,000 square meter terminal is a crucial addition to the overstrained airport ahead of the Beijing Olympics next August. The airport has a design capacity of 35 million passengers but last year handled 48.7 million.
Athletes and companies alike are looking forward to the opportunity to shine under the spotlight in what will be a special event in the history of the Olympic games.
Japan's economy grew faster than expected in the third quarter, but the Bank of Japan kept interest rates on hold in the face of market turmoil that has sent both stocks and the dollar sliding.
Soaring food costs drove up China's inflation in October, reinforcing expectations that the central bank will raise interest rates again before long to keep a lid on price pressures. Consumer price inflation quickened to 6.5 percent in October, matching the near 11-year peak scaled in August, from 6.2 percent in September.
China on Monday posted a record trade surplus for October, but the total was smaller than expected, as climbing raw material costs and strengthening domestic demand gave a boost to imports.
Japanese wholesale prices rose slightly more than expected in October from a year earlier on rising oil prices, but investors, preoccupied with global markets, stuck to the view that the Bank of Japan will wait until next year to lift rates.
The House on Thursday passed a free trade pact with Peru, bringing President Bush to the brink of his first trade victory since Democrats took control of Congress.
Japanese machinery orders rose in the July-September period and are forecast to keep going this quarter, supporting the growth outlook for the economy, but financial market turmoil looks set to keep a lid on interest rates for the next few months.
The dollar, which is hitting new lows against the Euro and other currencies today, is sparking considerable debate. Gold and oil are hitting new highs, partly on the dollar's weakness. The weak dollar has been a big help to U.S. exports and definitely helped corporate earnings of U.S. multinationals. That is the standard line, and it's true.
The Bank of Japan left its policy rate unchanged at 0.5 percent on Wednesday, as widely expected, reflecting caution among central bankers over market uncertainty and the economic fallout from U.S. subprime woes.
Unemployment in Japan rose to 4.0 percent last month, reinforcing expectations the Bank of Japan will delay its next rate rise, but household spending jumped.
Japanese retail sales rose unexpectedly in September from a year earlier, government data showed on Monday, suggesting consumer spending may be picking up in accordance with moderate improvement in workers' income conditions.
The Bank of Japan is seen cutting its growth and inflation forecasts and stressing more the downside risks, as markets push back still further into next year expectations of when the central bank will next increase rates.
Japanese core consumer prices fell from a year earlier in September, as expected, marking the eighth straight month of decline and doing little to change expectations that the Bank of Japan's monetary policy will be on hold for now.
In their interview this morning with my colleague Dylan Ratigan, President Bush's economic advisers emphasized all that was going right with the American economy: low inflation, a strong job market, continued growth and booming exports, whether those exports are driven by a weaker dollar or not.
Japanese exports to the United States fell in September from a year earlier at the fastest pace in four years but overall exports rose, pushing the trade surplus up to a record high.
While the markets are concerned today about the poor quality of financial earnings, Bank of America’s Joe Quinlan tackles a different—but equally important—subject: the rising tide of protectionism in the U.S., which is threatening the profits of now-global U.S. corporations. Quinlan notes that U.S. firms are enjoying a global boom in trade, earnings, capital inflows.