“Asia’s economy looks decidedly wobbly going into year-end. Exports continue to struggle amid sluggish demand in the West and other emerging markets,” said HSBC economist Frederic Neumann.
The latest snapshot showed manufacturing activity slipping for the fourth month in a row, falling further below the 50 no-change mark to 49.6 in November from 49.8 the previous month.
Southeast Asia’s largest economy is facing a potential budget crisis as its deficit drifts towards its legal limit with government revenue failing to meet expectations.
Oregon’s public pension funding problem is back with a vengeance. The state’s public pension deficit doubled this year, and public employers – as well as taxpayers – will see the bill come due starting in 2017.
Additionally, the report noted that districts are paying a higher percentage of their budgets to the Michigan Public School Employees Retirement System (MPSERS). It said from 2007 through Sept. 30, 2013, the reported funded status of the MPSERS plan declined from 88.7% to 59.6%. Meanwhile, the unfunded liability rose from $5.8 billion to $25.8 billion.
Q: How does a resource-rich province, like Saskatchewan, go from a projected $107-million surplus in March to a $262-million deficit nine months later? A: When your resource revenues decline by nearly $400 million.
Parliamentary budget officer Jean-Denis Frechette projects a 2016-17 deficit that’s $900 million smaller than Ottawa’s forecast, but shortfalls between 2017-18 and 2020-21 that are $2.3 billion, $3.6 billion, $6.3 billion and $10.8 billion higher than current projections.
American Eagle Energy, which explores for energy in North Dakota, issued $175 million in bonds in August 2014. The company filed for bankruptcy in May, estimating its assets were worth $211 million. It sold them in October for under $37 million.
The U.S. Department of Energy provided a federal loan guarantee of $1.45 billion for Abengoa’s 280 megawatt (MW) Solana project in Arizona, the largest parabolic trough plant in the world.
More than 2.5 million customers struggling to pay water and sewerage bills with single people hit hardest, says regulator
Without a rebound in oil and commodity prices, and the Federal Reserve seen lifting its policy rate higher for the first time in nine years, strategists predict a further rise in corporate defaults for 2016.
The loss will test the resolve of the fund’s stewards and of Prime Minister Shinzo Abe, who called for the shift out of bonds to riskier assets such as equities as the government tries to spur inflation.
Plummeting oil and gas prices pushed the percentage of junk bonds trading at distressed levels to the highest since the markets were recovering from the financial crisis, according to Standard & Poor’s.
About 1 in 5 American families who make $41,200 or less have what’s considered a hefty debt burden — defined as more than 40% debt-to-income load.
Even though Puerto Rico averted a default on Tuesday, it still faces about $1 billion due on Jan. 1, when multiple bonds — including more than $300 million on general obligation debt, with payments constitutionally backed by Puerto Rico — come due.
Christmas is coming — and some investors are already convinced they will unwrap an early present Thursday in the form of more economic stimulus from the European Central Bank.
Switzerland’s economy ground to a halt in the third quarter of this year, according to figures released from Bern on Tuesday.
Some €618.5 billion of eurozone bonds currently yield less than minus 0.2%, according to Rabobank. That is just over 12% of the more than €5 trillion of bonds potentially available for purchase under the quantitative easing program.
American manufacturers of goods such as electronics, chemicals and heavy machinery saw their businesses contract in November at the sharpest pace since the end of the Great Recession, reflecting the damage caused by a strong dollar, cheap energy prices and a soft global economy.
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