The combined balance sheet of the European Central Bank and the euro zone's 19 national central banks expanded by 9.53 billion euros ($10.72 billion) to 2.559 trillion euros in the week to Aug 28, the ECB said on Tuesday. ($1 = 0.8888 euros)
More bad news: due to the joint effects of inflation and the Doc Fix’s changes to physician payment schedules, Medicare Part B premiums will also increase for individuals whose incomes are not high enough to be affected by the premium surcharges. As mentioned near the beginning of this article, the basic Part B monthly premium for 2015 is $104.90. The Congressional Budget Office estimates that the basic premium will rise to $181 in 2025.
Central banks will sell $1.5 trillion foreign exchange reserves by the end of next year as they try to counter capital outflows stemming from slowing growth in China, low oil prices and an impending rise in U.S. interest rates, Deutsche Bank said on Tuesday.
South Korea has suffered its heaviest fall in exports for six years, bolstering expectations that the central bank will cut rates next week to tackle a rapidly darkening outlook.
Flights are down by a third in Sao Paulo, where rooftop helipads dot business and residential districts. For the first time in three decades, Brazil’s fleet is poised for an annual decline. And flight schools are full of trainees who may never find a job in a commercial cockpit.
Thousands of workers took to the streets in the capital Jakarta, demanding job security among other things, as Indonesia faces its slowest economic growth in five years.
U.S. manufacturers are struggling to sell their wares overseas amid a surge in the value of the dollar that’s made American exports more expensive, while slower global growth is cutting into demand.
As crude oil prices dived lower threatening to dip below $40 a barrel for the first time since the financial crisis of 2008 and notching their longest losing streak since 1986, economies around the world are catching cold.
Gross domestic product contracted at an annualized 0.5 percent rate in the second quarter, Statistics Canada said on Tuesday. That was better than forecast, though revisions showed the first quarter's contraction was steeper than first reported.
Poor fiscal results are sounding alarms at credit-rating agencies. Earlier this year, Standard & Poor’s put Brazil on watch for a downgrade to junk. More recently, Moody’s cut Brazil to the bottom of investment grade, with a stable outlook. Fitch has Brazil two notches above junk, with a negative outlook.
These grim economic figures have had a direct effect on the livelihoods of millions of Russians. In July, Olga Golodets, the deputy prime minister responsible for social affairs, stated that 23 million Russians — 16 percent of the total population — were living below the official poverty level of less than $170 a month. This is a rise of 3 million people in 12 months.
"I don't know how I'm going to live. I'm not going to be able to live here. I'm going to have to move and I don't know where," said Starn. Through the USDA Rural Development Program low-income tenants could renew their rental assistance whenever it ran out, but Congress changed that for 2015.
Last week school board members agreed they would not ask seek voter approval this fall to fund more than $500 million of unfunded pension liability by borrowing money to bet on the stock market, board chairman Courtney English said.
Citi economist Josh Williamson said the figures would cut a larger than expected 0.6 per cent from GDP figures which will be released on Wednesday.
Nevertheless, the mounting bad debt problem will weigh on earnings. If the four banks had topped up provisions to keep the ratio of reserves to bad debts stable, their first-half pretax profits would have fallen 30 percent or more.
Goldman analysts, led by Andrew Tilton, cut its outlook for Beijing’s gross domestic product growth in 2016 to 6.4% from 6.7% and trimmed their forecast for 2017 to 6.1% from 6.5% and reduced their 2018 outlook to 5.8% from 6.2%.
The head of Man Group Plc's China business Li Yifei is reportedly among almost 200 people, including journalists, critics and traders taken in over the weekend, as part of authorities desperate efforts to get market turmoil under control. A local journalist yesterday appeared on national state television to confess to spreading information that caused "panic and disorder".
China’s official Purchasing Managers’ Index was 49.7 for August, matching the median estimate in a Bloomberg survey and down from 50 in July. Numbers below 50 indicate contraction, with small, medium and large enterprises all below that level last month. A similar gauge for France fell to 48.3 from 49.6, while Germany’s reading rose more than estimated to 53.3, according to data published by Markit Economics on Tuesday.
Gross domestic product rose 7 percent year-on-year, preliminary figures from the Central Statistics Office showed Monday. Economists had expected the growth rate to ease to 7.4 percent from 7.5 percent registered in the first three months of the year.
With interest rates at record lows, most economists believe this would mean an expansion of its money printing programme to buy chiefly government bonds.
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