Economy News

U.S. trade chief hails WTO splinter groups as victory


WASHINGTON The World Trade Organization failed to conclude any new agreements at its biennial meeting this week, but U.S. President Donald Trump's trade chief is hailing as a victory the formation of factions by some WTO countries to push their own interests.

Japan's big manufacturers' mood hits 11-year high: tankan

TOKYO Big Japanese manufacturers' business confidence improved for a fifth straight quarter in the three months to December to hit a 11-year high, a central bank survey showed, a sign the economy is gathering momentum from robust exports and booming corporate profits.

Budget 2017, Japan 5:59am IST

ECB's Draghi sidelines critics to keep money taps wide open

FRANKFURT The European Central Bank on Thursday stuck to its pledge to keep money pouring into the euro zone economy for as long as needed, despite opposition from some rate setters and increased growth and inflation forecasts for the area. | Video

Budget 2017, 12:03am IST

U.S. retail sales surge; weekly jobless claims fall

WASHINGTON U.S. retail sales increased more than expected in November as the holiday shopping season got off to a brisk start, pointing to sustained strength in the economy that could pave the way for further Federal Reserve interest rate hikes next year.

Budget 2017, 14 Dec 2017

As Republican tax vote nears, more U.S. senators waver

WASHINGTON President Donald Trump's drive to win passage of a sweeping Republican tax bill in the U.S. Congress hit potential obstacles on Thursday as two more Republican senators insisted on changes, joining a list of lawmakers whose support is uncertain.

Budget 2017 2:29am IST

Bank of England: disorderly Brexit risk reduced by EU talks progress

LONDON Last week's breakthrough in Brexit talks has reduced the risk of a disorderly British departure from the European Union and may boost economic confidence, the Bank of England said on Thursday after it left interest rates unchanged.

Budget 2017, 14 Dec 2017

UK consumer confidence slips in December: Thomson Reuters/Ipsos

LONDON British consumer confidence slipped in December to its second-weakest level in nearly four years, weighed by gloom about the state of the economy ahead of Brexit, a survey showed on Thursday. | Video

Budget 2017, 14 Dec 2017

ECB raises GDP and inflation forecasts

FRANKFURT The European Central Bank raised its growth and inflation forecasts on Thursday as the euro zone's recovery becomes increasingly broad-based but saw inflation falling short of target into 2020 as high unemployment keeps a lid on wages.

Budget 2017, 14 Dec 2017

Greeks call strike over austerity and bailout reforms

ATHENS Greeks walked off the job on Thursday in a nationwide strike protesting against austerity measures and reforms the leftist-led government has agreed with the country's bailout lenders.

World, Budget 2017, 14 Dec 2017

Analysis: Big British local authority pensions step up hedge fund bets

LONDON From Essex binmen to Liverpool councillors, government pension schemes in England and Wales are investing more in hedge funds whose bets, sometimes dictated by algorithms, have included exotic holdings such as Puerto Rican debt.

Budget 2017, 14 Dec 2017


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Disney buying Fox film, TV units for $52 billion in digital push

Walt Disney Co has struck a deal to buy film, television and international businesses from Rupert Murdoch's Twenty-First Century Fox Inc for $52.4 billion in stock, giving the world's largest entertainment company an arsenal of shows and movies to combat growing digital rivals Netflix Inc and Amazon.com Inc . | Video