TOKYO— Japan's trade deficit surged nearly 70 percent to a record 13.75 trillion yen in the last fiscal year, the third straight year of deficit, as exports failed to keep pace with surging energy costs.» Read More
The dollar's weakness isn't just a product of low interest rates. This new study ranks just how responsible - or not - U.S. fiscal policy is.
General Electric, the nation’s largest corporation, had a very good year in 2010. The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States. Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.
The massive spending undertaken by the U.S. government since the financial crisis has pushed its annual budget deficit past $1 trillion for 2 years running now, and a sky-high national debt burden to fund that shortfall.
The US ranks near the bottom of developed global economies in terms of financial stability and will stay there unless it addresses its burgeoning debt problems, a new study has found.
Austerity and political longevity are clearly not correlated, following the fall of another euro-zone government.
Portugal is at a crossroads that will determine whether it needs to go cap in hand to the European Union's rescue fund for support, according to Barclays Capital.
George Osborne is expected to put tax breaks for companies and hard-pressed families at the heart of Wednesday’s Budget but his scope for giveaways is constrained by a somber backdrop of rising inflation and weakening tax revenues, the Financial Times reports.
Responding to criticism that the newly formed Consumer Protection Financial Bureau (CPFB) is too powerful, its head, Elizabeth Warren, told CNBC Tuesday that it’s the “most constrained of all federal agencies.”
George Osborne will this week offer Budget sweeteners to low earners, motorists and holidaymakers but has made plain there is no scope for giveaways or slackening the pace of cuts, the Financial Times reports.
European governments must put in place emergency bank recapitalization mechanisms within the next three months, according to the chairman of the new pan-European banking regulator, the Financial Times reports.
House Republican Conference Chairman Jeb Hensarling (R-Texas) will introduce legislation Thursday to wind down Freddie Mac and Fannie Mae in five years, CNBC has learned.
Nouriel Roubini, the New York University economist who gained renown for predicting the financial crisis, sees dark days ahead for the yen.
Congressional officials in both parties say the House and Senate are on track to pass a three-week stopgap measure to buy more time for negotiations between the Obama administration and Capitol Hill Republicans on a longer-term budget bill.
Standard & Poor’s on Thursday cut Nevada’s credit rating by one notch to double A, citing the state’s “severe economic cyclicality” and dependence on consumer spending.
One thing anyone with a high public profile and responsibility for delivering policy needs to remember is that if you don't want to unwittingly stick your foot in it, the best policy surely is to keep you mouth tightly shut.
The euro zone is highly likely to survive, albeit not without further turbulence, according to Martin Wolf from the Financial Times.
Government payouts—including Social Security, Medicare and unemployment—make up more than a third of US wages. “The U.S. economy has become alarmingly dependent on government stimulus,” says one economist.
Commerce Secretary Gary Locke is about to be made ambassador to China, according to numerous press reports. The move is indicative of the importance placed on Chinese relations by the White House and should be seen as a promotion for Locke.
You can’t beat a bit of Roman mythology on a Tuesday morning, so an article by Doug Kass, the president of Seabreeze Partners Management caught my attention.
The dollar has further to fall, says David Skarica, author of "THE GREAT SUPER CYCLE: Profit from the Coming Inflation Tidal Wave and Dollar Devaluation." But the long-term outlook for the yen is rosier - and there is China.