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Economy News

Wall St Weekahead: Fed reaction to data barrage is focus for stocks

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NEW YORK Data on inflation and employment, two of the economic indicators most important to a "data-dependent" U.S. Federal Reserve are expected next week.

Lagarde remote control makes Europeans doubt IMF role in Greek deal

BRUSSELS Another sleepless night in Brussels before another debt deal with Greece. So far, so routine in the euro zone crisis.

27 May 2016

Yellen says Fed rate hike likely appropriate in coming months

CAMBRIDGE, Mass. The Federal Reserve should raise interest rates "in the coming months" if the economy picks up as expected and jobs continue to be generated, U.S. central bank chief Janet Yellen said on Friday, bolstering the case for a rate increase in June or July. | Video

Top News, 28 May 2016

U.S. economic growth revised higher in first quarter

WASHINGTON U.S. economic growth slowed in the first quarter although not as sharply as initially thought, as a surge in home building and steady inventory accumulation partially offset the drag from a steep decline in business investment.

28 May 2016

China approves $8.34 billion in infrastructure projects - NDRC

BEIJING China's top economic planner approved two projects on Friday with a total investment value of 54.69 billion yuan ($8.34 billion), according to a statement published on the National Development and Reform Commission website.

27 May 2016

G7 pledges to tackle steel glut; doubts over impact

TOKYO/ISE-SHIMA, JAPAN Leaders of the Group of Seven (G7) pledged on Friday to tackle a global glut in steel, though their statement did not single out China, which produces half of the world's steel and is blamed by many countries for flooding markets with cheap steel.

27 May 2016

Brexit would be serious risk to global economic growth - G7 leaders

ISE-SHIMA, Japan A British exit from the European Union would be a serious risk to global economic growth, Group of Seven leaders said in a summit declaration on Friday, as Prime Minister David Cameron urged voters to "listen to our friends" on the impact of Brexit.

27 May 2016

Japan PM Abe: G7 shares 'strong sense of crisis' over world economy

TOKYO Japan's Prime Minister Shinzo Abe said on Friday that the Group of Seven (G7) industrial powers "shares a strong sense of crisis" about the outlook for the global economy and is committed to concerted action to lift demand.

Japan 27 May 2016

India Inc shows growth spreading by end of Modi's sophomore year

MUMBAI/NEW DELHI Indian companies are posting their best earnings results since Prime Minister Narendra Modi swept to power two years ago, giving the clearest sign yet that India's fast, but patchy, economic growth is becoming more broad-based.

Top News, 27 May 2016

G7 vows growth, fudges FX, frets N Korea, Russia, China

ISE-SHIMA, Japan The Group of Seven industrial powers pledged on Friday to seek strong global growth, while papering over differences on currencies and stimulus policies and expressing concern over North Korea, Russia and maritime disputes involving China.

Top News, World 27 May 2016

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USD/INR 67.021 --
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Gold 1,212.40 -6.60 -0.54%
Oil 49.56 -0.15 -0.30%
Corn 413.25 +5.00 +1.22%
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State Bank of India's outlook eases pain of profit fall

MUMBAI/KOLKATA, India State Bank of India (SBI) reported its sharpest quarterly profit drop in five years on Friday but cheered investors by saying that fewer than feared of its loans risked turning sour.