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Economy, Government & Policy

  • Your Debt, Our Nation's Headache @ Bloomberg - 12 minutes ago

    It was Oct. 1, 1958, and the company known best for its Travelers Cheques introduced a new product: The charge card. Although American Express technically wasn't the first company to introduce a charge card, it was the first to make its cards ubiquitous, and in the process changed the concept of where and how credit could …

  • Stocks sink as European worries move to US Associated Press - 20 minutes ago
    The Nikkei 225 stock market index is displayed on an electronic board in Tokyo, Wednesday, Oct. 1, 2014. Asian stocks were mixed Wednesday after Wall Street slid and South Korea reported factory output contracted, while markets in China and Hong Kong were closed for a holiday. (AP Photo/Shuji Kajiyama)

    U.S. stocks sank in early trading Wednesday despite a private survey that showed that U.S. businesses hired more workers than expected in September. Once again, economic weakness in Europe offset positive ...

  • US companies added 213,000 jobs in September Associated Press - 21 minutes ago
    US companies added 213,000 jobs in September

    U.S. businesses added 213,000 jobs in September, stepping up hiring for the sixth straight month, according to a private survey. Payroll processer ADP said Wednesday that the pace of hiring by private ...

  • The median forecast in a Bloomberg survey of 84 economists called for a decline to 58.5. Rising sales at automakers such as Ford Motor Co. (F) and growing corporate orders for equipment are keeping the nation’s assembly lines busy. “The manufacturing outlook looks pretty good,” Thomas Simons, a money market economist …

  • Ray Dalio, president and founder of giant hedge fund firm Bridgewater Associates LP, said Wednesday that overly tight monetary policy was the only potential problem for the U.S. "I see no real reason for a problem in the United States now other than too tight a monetary policy," Dalio told television network CNBC. He …

  • Ray Dalio, founder of the world's biggest hedge fund Bridgewater Associates, says the Fed should wait for inflation signs before hiking interest rates.

  • Dennis Lockhart talks about monetary policy Market Realist - 29 minutes ago

    Both equity and fixed-income investors keep a close watch on GDP, inflation, and unemployment to get a sense of where the U.S. economy is heading.

  • Private-sector hiring picked up slightly in September, marking the sixth consecutive month of job gains above-200,000, a sign of strong and steady.

  • Private wealth across Europe reached an all-time high of 56 trillion euros (43.59 trillion pounds) last year and is set to rise by a further 40 percent to almost 80 trillion by 2019, research conducted by a Swiss private bank showed. Julius Baer's (BAER.VX) inaugural "Wealth Report: Europe" showed that despite recent concerns …

  • The plan defers bringing the budget deficit within a European threshold by two years, as Paris said that a more rapid shift would harm the economy.

  • UK's Cameron promises tax cuts, EU battle Associated Press - 53 minutes ago
    UK's Cameron promises tax cuts, EU battle

    British Prime Minister David Cameron has promised a tough stance on Europe and tax cuts for millions in a speech designed to rally the Conservative faithful and sway other voters ahead of a national election ...

  • The French government presented its 2015 budget, unveiling a $63 billion savings program cutting deep into the country's beloved welfare system.

  • Private sector added 213,000 jobs in September, ADP says @ Los Angeles Times - 1 hour 3 minutes ago

    The private sector added 213,000 net new jobs last month, indicating that the labor market rebounded after a disappointing August, payroll firm Automatic Data Processing said Wednesday.

  • Why this October could be a turning point for markets

    October could have a long list of market demons to contend with-from the shift in U.S. monetary policy to geopolitical hazards that include Kiev and Hong Kong.

  • Investors and economists are looking for any signs at all of whether the weak jobs report in August was a one-off or the norm ahead.

  • Released Thursday, ADP’s September National Employment Report showed private payrolls adding 213,000 jobs in the first month of fall. ADP — Automatic Data Processing –  CEO Carlos Rodriguez pointed out that Septembers marks six months in a row of ADP measured job gains over 200,000. He calls this a "positive sign for the …

  • A job seeker meets with a prospective employer at a career fair in New York City

    Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 210,000 jobs. "Job gains remain strong and steady," said Mark Zandi, chief economist of Moody’s Analytics, which co-develops the report. "Nearly all industries and companies of all sizes are adding consistently to payr …

  • Do Carbon Taxes Just Feed the Beast? @ Bloomberg - 1 hour 20 minutes ago

    Countries introducing a carbon tax to cut greenhouse-gas emissions have mostly found that the policy works, and that jobs and incomes don't suffer. This leaves two further concerns: first, that carbon taxes feed the beast of bigger government, and second, that they hit the most vulnerable people hardest. When governments …

  • German Chancellor Angela Merkel said on Wednesday that it was up to each European country to deliver on its promise of sound budget policies, warning that the credibility of the entire bloc was at stake. "Long-term, sustainable growth can only be attained on the basis of solid budget policies. This is about the credibility …

  • U.S. businesses added 213,000 jobs in September @ Fortune - 1 hour 44 minutes ago

    Sixth consecutive month where the private sector added more than 200,000 jobs.

  • Private payrolls rose about in line with expectations in September, thanks to sharp growth in small business and service sector hiring, according to ADP and Moody's Analytics.

  • Companies hired 213,000 workers in September as the labor market continued to strengthen, a private report based on payrolls showed. The gains in employment last month followed a revised 202,000 increase in August, according to the ADP Research Institute in Roseland, New Jersey. The median forecast of 41 economists surveyed …

  • Russia’s economy will expand at 0.5 percent next year, the International Monetary Fund said, cutting its previous growth forecast in half amid fallout from the conflict in Ukraine and a weaker ruble. The Washington-based lender reduced its forecast for 2015 from 1 percent, and maintained this year’s estimate at 0.2 percent, …

  • France laid down the gauntlet to EU partners on Wednesday with a 2015 budget setting out how it would bring its borrowing back to within EU limits two years later than promised, a retreat it blamed on a fragile economy. The announcement from Paris came hours after news that Italy too planned to ease the pace of painful …

  • Euro Presses Lower Ahead Of ECB Meeting Benzinga - 2 hours 16 minutes ago

    The euro sunk even lower on Wednesday as poor eurozone data made it even more clear that the Fed and the ECB are moving in opposite directions. The common currency traded at $1.2620 at 4:00 GMT as investors ...

  • Brent Moves Towards $95 After Losses On Tuesday Benzinga - 2 hours 17 minutes ago

    Brent crude oil made its way toward $95 on Wednesday, helped by strong Chinese data. The commodity traded at $94.94 at 4:20 GMT, still under pressure from the global supply glut. On Tuesday, crude prices ...

  • * Watchdog says government may still be too optimistic * Follows news Italy also to ease deficit-reduction effort PARIS, Oct 1 (Reuters) - France laid down the gauntlet to EU partners on Wednesday with a 2015 budget setting out how it would bring its borrowing back to within EU limits two years later than promised, a …

  • Slovenia's government bond yields hit new euro-era lows on Wednesday after the country's prime minister pledged to proceed with privatisations and cut its budget deficit to meet an EU-agreed target next ...

  • German Debt Yield Goes Below 1% — An Astonishing New Record Business Insider - 2 hours 29 minutes ago

    Germany just sold a 10-year bond for a yield of below 1% for the first time in history. 

  • Tokyo businessmen are reflected in an electronic board showing exchange rates between the Japanese yen against foreign currencies and markets indices, outside a brokerage in Tokyo

    By Nigel Stephenson LONDON (Reuters) - Stocks worldwide began the fourth quarter on a negative note on Wednesday, as lacklustre economic data and civil unrest in Hong Kong kept investors cautious before ...

  • France's Socialists detail hefty spending cuts Associated Press - 2 hours 32 minutes ago
    France's Socialists detail hefty spending cuts

    France's Socialist government has detailed a 21 billion-euro ($26.5 billion) cost-cutting plan, the biggest in the country's modern history, saying it will focus on trimming welfare benefits. Presenting ...

  • A man walks past the London Stock Exchange in the City of London

    Stocks worldwide began the fourth quarter on a negative note on Wednesday, as lackluster economic data and civil unrest in Hong Kong kept investors cautious before a European Central Bank meeting later this week. The dollar, riding high in recent weeks, topped 110 yen for the first time in six years.

  • New figures put deficit sinner Paris on crash course with Berlin, Brussels.

  • Thailand's military government approved plans for stimulus measures worth a combined 364 billion baht (6.92 billion pounds) on Wednesday in a bid to revive an economy laid low by months of political unrest. Southeast Asia's second-largest economy suffered a virtual paralysis in policy-making and uncertainty among investors …

  • Workers look at machines moving newly made raw bricks at a factory in Huaibei

    BANGALORE/SYDNEY (Reuters) - Dwindling demand cut factory activity across much of Asia and Europe in September, sending it to multi-month lows and raising the chances that global growth will slow in the months ahead. Despite gentler price rises, China's figures were mired barely above contraction, Britain slumped, and …

  • The Bank of Japan is likely to offer a bleaker view on factory output at its rate review next week, people familiar with its thinking said, on growing signs that the pain from a sales tax hike in April is denting a fragile economic recovery. The BOJ's nine-member board may also debate revising down its overall assessment …

  • Why do interest rates change? @ Investopedia - 4 hours ago

    Interest is simply the cost of borrowing money. As with any good or service in a free market economy, price ultimately boils down to supply and demand. When demand is weak, lenders charge less to part ...

  • As Europe's central bankers gather in Naples to discuss the state of the region's economy, the city stands as a stark warning of just how bad things can get. "If there's a periphery of the euro zone's periphery, that's Naples," said economist Riccardo Realfonzo, a former councilman of the Southern Italian city. "The gap …

  • Euro-area factories cut prices in September by the most in more than a year and German manufacturing shrank, underlining the mounting challenge facing Mario Draghi. The European Central Bank president is on a mission to avert deflation as the euro region's economic landscape deteriorates. Purchasing Managers' Indexes …

  • Activity in the eurozone’s manufacturing sector slowed more sharply than first estimated in September, with Germany joining France in contraction, while Italy staged a surprise revival.

  • U.S. corporations could have a major impact on the economy, and earn decent returns, in at least four ways, writes Jeremy Wiesen.

  • French stocks have beaten euro-area stocks for six years. Options traders are betting 2014 will be different. With a budget deficit poised to rise and economic growth running at half the region's rate, investor sentiment on the CAC 40 Index (CAC) is deteriorating. Options protecting against swings in the equity gauge …

  • * Spanish stocks outperform after strong manufacturing data PARIS, Oct 1 (Reuters) - European shares dipped on Wednesday following mixed manufacturing data and as sales warnings from J Sainsbury and Nexans fuelled worries over the outlook for European corporate results. Data showed German manufacturing activity shrank …

  • Germany PMI Shows Contraction 24/7 Wall St. - 5 hours ago

    German PMI contracted during September, the first such contraction in 15 months.

  • Markit's final September manufacturing PMI came in at 50.3, the lowest since July last year and below both August's 50.7 and an earlier flash estimate of 50.5. It held above 50 that separates growth from contraction for the 15th month in a row.

  • As Romania prepares to end reliance on the International Monetary Fund , investors are signaling confidence in the economic outlook by sending the country’s bonds to the biggest gains in eastern Europe. Dollar debt from the European Union’s second-poorest nation earned 0.8 percent in the third quarter, the most among 13 …

  • Euro-area factories cut prices in September by the most in more than a year and German manufacturing shrank, underlining the mounting challenge facing Mario Draghi . The European Central Bank president is on a mission to avert deflation as the euro region’s economic landscape deteriorates. Purchasing Managers’ Indexes …

  • Russia's first post-sanctions budget suggested the Kremlin is more hopeful than most about the country's economy.

  • Norway’s manufacturing industry contracted last month, with a gauge measuring production falling to the lowest level since July last year as oil companies cut jobs. An index based on responses from purchasing managers fell to a seasonally adjusted 49.4 in September from 51.8 the previous month, Danske Bank A/S (DANSKE) …

  • A man looks at a stock quotation board outside a brokerage in Tokyo

    Asian shares slumped on Wednesday as continued civil unrest in Hong Kong and a downbeat day on Wall Street sapped confidence, while the dollar index was close to a four-year high after marking its best quarterly gain in six years. European stocks were expected to follow suit, ahead of manufacturing data for Germany, France, …

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