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Last Updated: Feb 10, 2012 - 8:44 AM |
News
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Global Economy
The end of the halcyon days of the global finance industry
The US financial sector accounted for just over 8% of the market capitalisation of the S&P 500 stock index companies in 1990 and peaked at over 22% by late 2006. It had dipped to 8.6% in early March 2009 and while it has recovered to about 12% in the interval, the halcyon days of the industry both in the United States and at global level, are over.
Feb 10, 2012 - 8:36 AM
News
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Global Economy
Fiscal Monitor Report Update: Deficits in many advanced economies fell significantly during 2011 says IMF
The IMF (International Monetary Fund) says today in its latest Fiscal Monitor report that deficits in many advanced economies fell significantly during 2011, and most plan substantial adjustment this year. The Fund said continued adjustment is necessary for medium-term debt sustainability, but should ideally occur at a pace that supports adequate growth in output and employment.
Jan 24, 2012 - 3:17 PM
News
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Global Economy
Global recovery stalls; Downside risks intensify says IMF
The global recovery has stalled with downside risks intensifying according to the IMF (International Monetary Fund) today. The Fund says the outlook is threatened by intensifying strains in the Eurozone and fragilities elsewhere.
Jan 24, 2012 - 3:03 PM
News
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Global Economy
Global financial stability risks are deeply into the Danger Zone says IMF
The IMF (International Monetary Fund) said today that since the last Global Financial Stability Report (GFSR) in September 2011, risks to stability have moved deeply in the Danger Zone, despite various policy steps to contain the Eurozone debt crisis and banking problems.
Jan 24, 2012 - 3:01 PM
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Global Economy
European Union on Monday agreed to impose an embargo on Iranian oil imports
The European Union on Monday agreed to impose an embargo on Iranian oil imports to ratchet up pressure on the Tehran regime to stop its plans to develop nuclear weapons.
Jan 23, 2012 - 2:57 PM
News
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Global Economy
Debt in advanced world has grown during crisis; Two-thirds of fall in US household debt due to defaults
The deleveraging process of cutting debt has only just begun in most countries of the advanced world. Based on data up to Q2 2011, total debt has actually grown across the world’s 10 largest developed economies since the 2008–09 financial crisis, due mainly to rising government debt. Two thirds of the fall in US household debt is due to defaults on home loans and consumer debt.
Jan 20, 2012 - 10:51 AM
News
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Global Economy
Global investors have started 2012 with a reawakened sense of optimism towards the global economy
Global investors have started 2012 with a reawakened sense of optimism towards the global economy and greater appetite for risk, according to the BofA Merrill Lynch Survey of Fund Managers for January.
Jan 20, 2012 - 12:06 AM
News
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Global Economy
World Bank cuts its global growth forecast by the most in three years
The World Bank today cut its global growth forecast by the most in three years, saying that a recession in the Eurozone threatens to exacerbate a slowdown in emerging markets such as India and Mexico.
Jan 18, 2012 - 8:06 AM
News
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Global Economy
Composite leading indicators continue pointing to a slowdown in main global economic regions
Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, continue pointing to a slowdown in activity in most OECD (Organisation for Economic Cooperation and Development) countries and major non-member economies.
Jan 12, 2012 - 1:29 PM
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Global Economy
European Central Bank keeps benchmark rate at 1.00%; Bank of England keeps rate at 0.5% -- lowest since 1694
The European Central Bank kept its benchmark interest rate of 1.00% unchanged, at the meeting of the 23-member governing council in Frankfurt. In London, in response to evidence of a fragile economy, the Bank of England's Monetary Policy Committee kept the bank's key interest rate at 0.5%, the lowest since 1694.
Jan 12, 2012 - 12:52 PM
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Global Economy
Ageing will slow global growth but it doesn't have to resemble Japan
In 1950, less than 1% of the global population was over 80. By 2050, the share of those aged 80 and over is expected to reach nearly 10% across Organisation for Economic Cooperation and Development (OECD) countries - - 34 countries that includes all the rich countries. Japan has already provided some of the downsides and the potential for upsides.
Jan 12, 2012 - 8:24 AM
News
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Global Economy
Global Economy 2012: Eurozone and UK face recession; 15m in developed world jobless more than 1 year
Global Economy 2012: Following two years of anaemic and uneven recovery from the global financial
crisis, the world economy is teetering on the brink of another major downturn.
The Eurozone and UK will each face another recession in 2012. Meanwhile, almost
one third of the unemployed in developed countries have been jobless for more
than one year, which has affected about 15m
workers.
Dec 20, 2011 - 8:17 AM
News
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Global Economy
Global investors look to US equities as they prepare for year of low growth inflation in 2012
Global investors are looking to US equities as they prepare themselves for a year of low growth and low inflation in 2012, according to the BofA Merrill Lynch Survey of Fund Managers for December.
Dec 14, 2011 - 6:34 AM
News
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Global Economy
European banks selling assets and boosting interest rates to strengthen their balance sheets
European banks are selling assets and boosting interest rates to strengthen their balance sheets, according to the Bank for International Settlements (BIS), known as the bank for central banks.
Dec 12, 2011 - 6:26 AM
News
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Global Economy
Financial speculation in commodities, the Arab Spring and other impacts
We wrote last month that cheap commodities underpinned economic growth for much of the 20th century but that situation has changed dramatically over the past decade. By the year 2000, the world had become accustomed to relatively low international food prices when price inflation-adjusted food commodities were below those recorded during the Great Depression. However, over just eight years, the prices of commodities have risen to levels not seen since the early 1900s. The past decade has also coincided with a big rise in speculation in commodities including food and whether it's the Arab Spring or French Revolution, big spikes in food prices can trigger dramatic social and political changes.
Dec 9, 2011 - 8:56 AM
News
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Global Economy
Prosperity beckons for Africa with its rising middle class
Prosperity beckons for Africa with its growing middle class. This is important because the history of resource extraction in Africa and elsewhere, is a history of plunder. The big opportunity facing a lot of Africa is its natural resources with commodity prices high, and over the next decade that will result in a lot of natural resource discovery. However, the true test of progress in the continent is whether new riches trickle down from the elite to create consumers to sustain growth in manufacturing and services.
Dec 2, 2011 - 8:36 AM
News
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Global Economy
Central banks announce action to ease strains in global financial system; China eases monetary policy; Stocks rally in US and Europe
Central banks from leading developed countries on Wednesday took coordinated action to ease strains in global financial system as fears persist of a collapse of the Eurozone. China earlier eased bank reserve requirements.
Nov 30, 2011 - 2:59 PM
News
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Global Economy
Eurozone leaders need to provide “credible and large enough firepower” to halt debt crisis that risks a severe recession says the OECD
Eurozone leaders need to provide “credible and large enough firepower” to halt the sell-off in debt market or they risk a severe recession, according to the Organisation for Economic Co-operation and Development (OECD) today.
Nov 28, 2011 - 2:23 PM
News
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Global Economy
Cheap commodities underpinned economic growth for most of the 20th century but no longer
Cheap commodities underpinned economic growth for most of the 20th century but that situation has changed dramatically over the past decade. By the year 2000, the world had become accustomed to relatively low international food prices when price inflation-adjusted food commodities were below those recorded during the Great Depression. However, over just eight years, the prices of commodities have risen to levels not seen since the early 1900s.
Nov 25, 2011 - 8:07 AM
News
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Global Economy
Obesity impacting health budgets in OECD countries; US adult obesity rates more than doubled to 34% since 1980
Rising obesity levels in OECD countries are hitting strapped public health budgets and on this Thanksgiving Day, the inconvenient truth is that America has the worst problem among the world's developed countries with adult obesity rates doubling to 34% of the adult population since 1980, while another 34% of US adults over 20 are overweight.
Nov 24, 2011 - 7:41 AM
News
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Global Economy
OECD composite leading indicators continue pointing to slowdown in economic activity
Composite leading indicators (CLIs) for September 2011, designed to anticipate turning points in economic activity relative to trend, continue pointing to a slowdown in economic activity in most OECD countries and major non-member economies.
Nov 14, 2011 - 11:03 AM
News
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Global Economy
Oil prices could again head towards $150 a barrel in the near term
Oil prices could again head towards $150 a barrel in the near term if investment in the Middle East and North Africa (MENA) oil-producing region falls sharply, the International Energy Agency (IEA) said Wednesday.
Nov 9, 2011 - 1:23 PM
News
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Global Economy
World economy faces decade and a half of slow growth; Emerging economies expected to slow
The world economy faces a decade and a half of slow growth as rapid catch-up growth in emerging economies begins to wane.
Nov 9, 2011 - 6:17 AM
News
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Global Economy
Lessons from Iceland's recovery
Iceland was the first advanced economy to experience the full force of the 2008 global financial crisis, and the first to subsequently seek financial support from the IMF.
Nov 7, 2011 - 8:01 AM
News
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Global Economy
Globalization and Apple's iPod and iPhone; China earns about $6.50 on each iPhone exported - - Part 2
The issues of globalization, employment, unemployment and the distribution of gains from the development, production and distribution of Apple's iPod was first reported on by Finfacts in 2007. In more recent times, research shows that China earns just $6.50 from the manufacturing cost of an iPhone.
Nov 2, 2011 - 6:35 AM
News
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Global Economy
Globalization: Developing countries triumph; Gains in developed world lopsided towards capital and elite few - - Part 1
Globalization: Developing countries have triumphed from globalization but in the developed world the gains have been lopsided towards capital and an elite few towards the top of the economic pyramid.
Nov 1, 2011 - 12:16 AM
News
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Global Economy
Big global banks are still paying guaranteed bonuses to new hires despite a ban
Big global banks are still paying guaranteed bonuses to new hires despite a ban agreed by G-20 countries in 2009.
Oct 21, 2011 - 7:39 AM
News
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Global Economy
Doing Business 2012: Singapore leads on ease of doing business followed by Hong Kong , New Zealand, US and Denmark; Ireland gets 10th rank
Doing Business 2012: The annual report produced by the World Bank and its private sector unit, the International Finance Corporation (IFC), released today finds that economies continued to implement reforms that enhance local firms’ ability to do business, with transparency and access to information playing a key role in the reforms. Singapore leads on overall ease of doing business followed by Hong Kong , New Zealand, US and Denmark. Ireland gets 10th rank.
Oct 20, 2011 - 6:08 AM
News
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Global Economy
Ninety-two per cent of fund mangers expect Greece's government to default
Global investors appear to be coming to terms with the prospect of a default by the Greek government, according to the BofA Merrill Lynch Survey of Fund Managers for October. More than nine out of 10 (92%) of the 199 respondents to October's global survey believe that Greece cannot avoid default. Seven out of 10 respondents predict a default by April 2012. Despite this overwhelming consensus, investors are less worried about sovereign risk than a month ago and less pessimistic about global growth.
Oct 20, 2011 - 5:07 AM
News
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Global Economy
World trade volume rose by 1.3% in August; Industrial production up 0.3%
World trade volume rose by 1.3% in August from the previous month and world industrial production rose by 0.3% in August, according to the CPB Netherlands Bureau for Economic Policy Analysis.
Oct 19, 2011 - 3:30 AM
News
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Global Economy
Wall Street to lose 10,000 more jobs - - to total 32,000 since Jan 2008; World’s biggest banks still paying large annual bonuses
Wall Street , a metaphor for New York City's securities industry, faces the loss of nearly 10,000 jobs by the end of 2012, New York state's comptroller said in a report published Tuesday. Total job losses since Jan 2008 will total 32,000. Meanwhile, in Basel, Switzerland, the Financial Stability Board, which advises the G-20 group of leading developed and emerging economies, said on Tuesday that the world’s biggest banks are still paying as much as 96% of their pay in annual bonuses.
Oct 12, 2011 - 7:24 AM
News
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Global Economy
OECD composite leading indicators point to slowdown in economic activity
Composite leading indicators (CLIs) for August 2011, designed to anticipate turning points in economic activity relative to trend, continue to point to a slowdown in economic activity in most OECD developed countries and major non-member economies. The CLI for the OECD area fell 0.5 point in August, the fifth consecutive monthly decline.
Oct 10, 2011 - 1:53 PM
News
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Global Economy
Growth of global service sector improves in September
Global service sector providers reported a modest acceleration in growth of business activity and incoming new work in September. However, rates of expansion for Q3 2011 as a whole were considerably slower than their Q1 peaks.
Oct 6, 2011 - 2:00 AM
News
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Global Economy
Global Manufacturing PMI dips to 27-month low in September
At 49.9 in September, down from 50.2 in August, the JPMorgan Global Manufacturing PMI (Purchasing Managers' Index) posted below the no-change/neutral 50.0 mark for the first time since June 2009 - - a 27-month low.
Oct 4, 2011 - 3:40 AM
News
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Global Economy
Report says government reforms enhance economic opportunities for women
A new report from the World Bank and its financing unit, the IFC (International Finance Corporation) released Monday, says government reforms enhance economic opportunities for women, but they still face legal and regulatory hurdles to fully participating in the economy.
Sep 27, 2011 - 2:49 AM
News
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Global Economy
World trade rose 0.8% month on month in July; World industrial production gained 0.5 %
World trade rose 0.8% month on month in July, following a 2.0% decline in June while world industrial production gained by 0.5 % month on month, following a 0.6% rise in June, according to the CPB Netherlands Bureau for Economic Policy Analysis.
Sep 23, 2011 - 4:11 AM
News
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Global Economy
IMF-World Bank Annual Meetings: Lagarde urges strong political leadership to put world on firmer footing
IMF-World Bank Annual Meetings: The world economy is in a dangerous new phase, with risks on the rise, but while the problems are largely economic, the solutions are mainly political, IMF managing director Christine Lagarde said.
Sep 23, 2011 - 2:33 AM
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Global Economy
IMF urges Eurozone to use its EFSF rescue fund to support weak banks; European banks' sovereign risk up €200bn since end 2009
The IMF (International Monetary Fund) today urged the Eurozone to use its EFSF (European Financial Stability Facility) rescue fund to support capital injections for weakest banks, saying that there are risks of big losses from the sovereign debt crisis. In its twice-yearly Global Financial Stability Report, the IMF says the Eurozone debt crisis has directly raised the sovereign risk for European banks by €200bn since the end of 2009, when Greece's public debt crisis erupted.
Sep 21, 2011 - 3:09 PM
News
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Global Economy
Global growth will pick up only slightly in 2012 says the International Monetary Fund
The global economy is much weaker than it was just months ago, and growth will pick up only slightly in 2012, the International Monetary Fund said Tuesday.
Sep 20, 2011 - 3:32 PM
News
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Global Economy
Why the global economic recovery is in trouble
The world economy has hit a rough patch on the road to recovery and is in danger of skidding off course, according to economists at the Brookings Institution, a Washington DC think-tank.
Sep 19, 2011 - 7:50 AM
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