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Americans happier with economic figures

Sun, 19 May 2013 10:39:30 -0400

Americans are at their most optimistic since 2007 according to a Thomson Reuters/University of Michigan index of consumer sentiment. The preliminary index has shown optimism increased to 83.7 in May as stocks surged and real estate climbed. With record stock prices boosting household wealth and unemployment down in some areas, consumers were able to see their way through the effects of ...

Letta may abolish unpopular taxes

Sat, 18 May 2013 08:40:20 -0400

Italy's coalition government has promised to abolish some salaries and perks which are handed out to government ministers. A controversial property tax will also be abolished, or frozen, by the new government of Enrico Letta, who has also promised to do away with the double salary received by some parliamentarians. Before the election, it had been mooted by Letta's coalition partners that ...

Spanish surplus figures improve

Sat, 18 May 2013 08:34:58 -0400

Spain has reported a trade surplus, the first since 1971. With imports slumping due to austerity measures, the first monthly trade surplus for more than 40 years is being seen as a positive development. However, the country is still suffering from an economic downturn with unemployment in Spain now running at 26.7%. The surplus of 634.9 million euros in March reflects a 15% plunge in ...

Ketamine holds promise for people with treatment-resistant depression

Sun, 19 May 2013 05:40:02 -0400

In a new study, patients with treatment-resistant major depression saw dramatic improvement in their illness after treatment with ketamine, an anesthetic. The largest ketamine clinical trial to-date was led by researchers from the Icahn School of Medicine at Mount Sinai. The antidepressant benefits of ketamine were seen within 24 hours, whereas traditional antidepressants can take days or ...

Namibia Inflation Slows Down to 61 Percent

Sun, 19 May 2013 11:19:12 -0400

ANNUAL inflation was estimated at 6,1 percent in April 2013, compared to 6,4 percent recorded during the same period last year, the Namibia Statistics Agency (NSA) said yesterday. The monthly inflation rate for April stood at 0,2 percent, compared to the March figure of 0,4 percent, a difference of 0,2 percentage points. The main driver of inflation for both March and April was housing, water, ...

Obama urged to make economy a bigger bolder topic

Sun, 19 May 2013 10:00:05 -0400

FILED In this Aug. 11, 2009, file photo Senior White House Adviser David Axelrod, right, White House Press Secretary Robert Gibbs, left, leave the White House in Washington with President Barack Obama, not shown, en route to New Hampshire for a town hall meeting. Obama allies and former top aides are worried he has lost his voice on his central theme of economic opportunity, silenced by a trio ...

One Year After The IPO Is Facebook Already A New Economy Dog

Sun, 19 May 2013 09:07:15 -0400

's initial public offering, a retrospective might be in order. A year ago I was so skeptical of all the ballyhoo that I offered readers two rather more conventional stocks which I suggested had better stock appreciation prospects. I am pleased to ...

GCC is 13th largest world economy - Bahraini Minister

Sun, 19 May 2013 09:03:12 -0400

GCC currencies Gulf hydrocarbon producers emerged as the 13th most powerful economy in the world in 2011 while strong oil prices allowed them to become the fifth largest exporter with the highest trade surplus, according to a Bahraini minister.Hassan Fakhru, minister of trade and industry, estimated the combined GDP of the six-nation Gulf Cooperation Council /GCC/ at around US$4?1 trillion in ...

U.S. job market gains could lead Fed to taper QE3 early

Sun, 19 May 2013 08:55:16 -0400

By Ann Saphir and Jonathan Spicer (Reuters) - The beginning of the end of the Federal Reserve's massive bond-buying program might come sooner than many investors think if recent gains in the U.S. labour market do not prove fleeting. Much will ...

Economic Preview U.S. economy walks uneven path

Sun, 19 May 2013 08:53:17 -0400

WASHINGTON (MarketWatch) -- The bubbling U.S. stock market might get more pop this week from positive sales trends in housing, but danger signs lurk in other parts of the ...

KSA tries to diversify economy nonoil exports hike 5 folds

Sun, 19 May 2013 08:12:48 -0400

Saudi Arabia aspires to increase mutual trade with other countries Minister of Commerce and Industry Tawfiq Al-Rabiah expected a growth in Saudi exports during the coming period.He stressed the fact that Saudi Arabia's nonoil exports to the Arab countries had increased five-fold compared to the past seven years."We seek to sign several trade agreements with Arab countries, taking into ...

An Economics 101 Lesson From Corporate America

Sun, 19 May 2013 08:07:40 -0400

Supply. Demand. Any basic economics class will start with these two words on the blackboard. They are the yin and yang of the market. Whenever one of these two items falls out of balance, it can take a major toll on companies that do business in that space. In recent years, certain sectors have been ravaged by animbalancein supply and demand. Let's look at these sectors and see what will be ...

BankSA cuts its fixed term mortage interest rates

Sun, 19 May 2013 08:00:00 -0400

HOMEOWNERS will be the winners after BankSA ignited a discount war on fixed rate mortgages, which are already at all time low levels. The lender has slashed its one, three, four and five-year fixed home loan rates, while parent company Westpac has cut its fixed rates to as low as 4.79 per cent for a one-year term. BankSA has made the biggest cut to its three-year fixed rate, down 34 basis points ...

Political Economy The City of London as Savior of E.U. Finance

Sun, 19 May 2013 04:57:38 -0400

It is perhaps too much to expect the Conservative-led government in Britain to lead any initiatives on Europe, given the orgy of self-destruction in the party over whether Britain should stay in the European Union. But insofar as David Cameron manages to get some respite from the madness, he should introduce a strategy to enhance the City of London as ...

Boosting Ethiopia’s economy one shoe at a time

Sun, 19 May 2013 04:53:43 -0400

';You don't build your economy based on aid, you want to build your economy based on the way SoleRebels built its business, so that it's sustainable,'; Bethlehem told ...

Angola’s skewed lending said to stifle economy

Sun, 19 May 2013 04:53:42 -0400

With the economy growing at 10 percent the services, construction and mining sectors have been major beneficiaries, according to a recent report by consultancy firm ...

Greece enters sixth year of recession but prospects improving

Sat, 18 May 2013 23:39:43 -0400

(ATHENS) - Data released last week showed Greece entered its sixth straight year of recession, but there is now cautious optimism about the economy's prospects although unemployment is still hitting record highs and consumers are squeezed by pay cuts and tax hikes.On Tuesday, Greece's battered debt ratings received a rare upgrade from Fitch which noted "clear progress" on ...

Edward Lotterman Immigration economics not easily untangled

Sat, 18 May 2013 22:36:44 -0400

The brief hubbub about a Heritage Foundation report on one aspect of legalizing unlawful immigrants -- how it would affect government finances -- contrasts sharply with the lack of discussion of how such immigration and eventual legalization affect the broader economy. This may well reflect the fact that the post-election rush to immigration "reform" is driven more by pragmatic issues ...

Bernanke Innovations will pump up the economy

Sat, 18 May 2013 19:59:51 -0400

Chairman of the Federal Reserve Ben Bernanke says fields including healt care and clean energy hold many opportunities for profitable ...

Angela Merkel discusses Europes economy with the Pope

Sat, 18 May 2013 19:19:47 -0400

Chancellor of Germany Angela Merkel and Pope Francis exchanges gifts after their meeting in his private library at the Vatican on May 18, 2013 in Vatican City, Vatican. (Guido Bergmann/Bundesregierung-Pool/Getty ...

Falling fuel and beer prices herald rare inflation drop

Sat, 18 May 2013 19:12:30 -0400

Easing pain for motorists at the petrol pump and Chancellor George Osborne's Budget beer duty largesse should this week herald the first fall in inflation since last ...

Bernankes advice for college grads

Sat, 18 May 2013 17:23:11 -0400

"During your working lives, you will have to reinvent yourselves many times," Federal Reserve Chairman Ben Bernanke told new graduates at Bard College at Simon's Rock on ...

The Winklevoss twins are Bitcoin bulls

Sat, 18 May 2013 17:23:11 -0400

A few months ago, word spread that the twins, Cameron and Tyler, had set up their own investment firm and decided to focus on a curious market niche: ...

Lundbeck says drug shows improvement in depression symptoms

Sat, 18 May 2013 13:59:37 -0400

COPENHAGEN | Sat May 18, 2013 1:59pm EDT COPENHAGEN May 18 (Reuters) - Danish pharmaceutical group Lundbeck and Japanese partner Takeda said on Saturday that data from clinical phase III studies with the antidepressant vortioxetine had shown significant improvement in patients' symptoms. Lundbeck said in a statement that the trial showed safety levels consistent with previously ...

Video Obama on the economy Things are looking up

Sat, 18 May 2013 12:21:06 -0400

President Obama channeled optimism on America's economic future in his weekly address on Saturday, noting positive news on deficit reduction, the housing market, the auto industry, and the energy sector to make his case that "in a lot of sectors, things are looking ...

Bernanke in commencement address upbeat on innovation outlook

Sat, 18 May 2013 11:47:40 -0400

Reuters © Chairman of the Federal Reserve Bank Ben Bernanke attends the Treasury Department's Financial Stability Oversight Council in Washington April 25, 2013. REUTERS/Gary ...

Rate cuts possible as Polish inflation set to stay low-central banker

Sat, 18 May 2013 09:59:34 -0400

RYTRO, Poland | Sat May 18, 2013 9:59am EDT RYTRO, Poland May 18 (Reuters) - There is little chance that consumer inflation in Poland will quickly return to the central bank's 2.5 percent target, a Monetary Policy Council member said on Saturday, leaving scope for further monetary easing. Jerzy Hausner, one of the central bank's 10 rate-setters, also told Reuters that economic ...

Has Caribbean Diplomacy Lost Its Mojo

Sat, 18 May 2013 09:36:59 -0400

- Whether by accident or coincidence, recent days have seen a variety of Caribbean leaders and journalists question whether the region is failing to pursue leadership roles within international organisations – and thus losing its voice in global issues like trade, climate change, and peace and ...