Kuroda Advises China to Impose Capital Controls to Defend Yuan
Bloomberg–5 hours ago
China’s stockpile plunged $513 billion last year to $3.33 trillion, the first … pivot from debt-fueled investment and exports toward consumption and services.
-IMF’s Lagarde says markets need clarity on China currency
Reuters–4 hours ago
Bank of Japan Governor Haruhiko Kuroda, speaking on the same panel at the … The Chinese central bank has been generous with liquidity, pumping a net 315 …
Desperate in Davos: policymakers struggle for answers
Reuters – ?2 hours ago?
Last January, in a bold sign of policy activism, the European Central Bank
unveiled its hotly anticipated stimulus, or quantitative easing (QE),
program in a bid to kick-start growth and inflation in a euro zone still
reeling from financial turmoil and …
China’s banking stress looms like Banquo’s Ghost in Davos
Telegraph.co.uk–Jan 22, 2016
The more China burns through reserves to offset capital outflows and hold the line on the yuan, the more it tightens internal monetary policy – a variant of the …
Bank of Japan’s Kuroda says Japan inflation expectations …
Reuters–7 hours ago
But some indicators on inflation expectations have been somewhat weak,” Kuroda told reporters at the World Economic Forum in Davos, adding that he would …
U.S. Steel lawyers focus on when former Stelco ‘unable to meet its debts‘
Hamilton Spectator – ?19 hours ago?
The trial is to decide if the $2.2 billion the American parent company claims from U.S. Steel Canada is really debt or injections of equity into a struggling subsidiary. If Superior Court Judge Herman Wilton-Siegel decides the claim is truly adebt …
Peabody sells stake in Illinois power plant for fraction of investment
Belleville News-Democrat–18 hours ago
Peabody announced Thursday
that it would sell its 5 percent stake in the Prairie State Energy
campus for $57 million. It originally invested nearly $250 million in
the 1,600-megawatt facility, which opened in 2012.
India’s Exports Shrink 15% In Dec, Trade Deficit Widens On Gold …
South Asian Link–11 hours ago
Imports shrank 3.88% to $33.96 billion in December on yearly basis. Gold imports jumped almost three-fold thereby pushing up the trade deficit to a 4-month …
Hong Kong’s Chan Says City’s Economic Growth to Slow From 2015
Bloomberg–9 hours ago
Hong Kong’s GDP is estimated by economists to have grown
2.3 percent in 2015, the most sluggish since 2008 amid rising concerns
about China’s slowdown …
Bond Traders Tell Fed Optimism on Growth, Inflation Is Misplaced
Bloomberg–13 hours ago
He said a slowdown in the Chinese economy is contributing to global deflation. Futures traders assign about a 24 percent chance that the Fed will boost …
Looming downgrades point to turmoil in 2016 for mining, energy
The Globe and Mail–19 hours ago
The slowdown in China’s economy has
wreaked havoc on the natural-resources sector. Minerals such as iron ore
and metallurgical coal have declined more …
Fearing default by Atlantic City, S&P slashes rating
Philly.com – ?19 hours ago?
“The city is currently vulnerable to nonpayment on
its obligations and we believe it is likely to default without an
unforeseen positive development,” said Standard & Poor’s credit
analyst Timothy Little. The downgrade of Atlantic City’s general …
S&P slashes Atlantic City credit rating four notches deeper into junk
Reuters – ?20 hours ago?
Atlantic City, New Jersey’s distressed gambling
hub, had its credit rating cut four notches deeper into junk territory
on Friday on the likelihood of a debt default in the next six months. Standard & Poor’s Ratings Services issued the super-downgrade …
Venezuela opposition rejects Maduro’s ‘economic emergency’ decree
Stabroek News – ?9 hours ago?
CARACAS, (Reuers) – Venezuela’s opposition
refused yesterday to approve President Nicolas Maduro’s “economic
emergency” decree in Congress, saying it offered no solutions for the
OPEC member-nation’s increasingly disastrous recession. Underlining the …
Brazil economy shed 1.5 million jobs in 2015
Arab News – ?21 hours ago?
Brazil is set to have both the worst recession
and the third-highest inflation rate among G-20 economies in 2016,
according to Reuters Polls. The government, whose popularity has sunk to
near record lows, has sent erratic signals about economic policy, …
Brazil’s Rousseff signals tapping foreign reserves possible: media
Reuters – ?19 hours ago?
Most in her economic team share that view, but with Brazil in its worst recession
in decades and with a growing fiscal deficit to boot, Rousseff is under
pressure from her leftist Workers’ Party to ditch austerity and spend
more, including some of the …
Market tumble puts quake in pension funds
Jacksonville Journal Courier – ?9 hours ago?
“For the most part, we are in it for the long
haul,” said Christine Radogno, the Republican state Senate leader in
Illinois, which faces the nation’s largest unfunded pension liability, at more than $100 billion, and is in a tough spot because the …
Auditor General: Easton pension funds close to becoming ‘severely …
Allentown Morning Call–21 hours ago
Auditor General: Easton pension funds close to becoming ‘severely … Overall, there is nearly an $8 billion unfunded pensionliability, DePasquale said.
Illinois lawmakers: Stock drops no reason for pension worry
Bloomington Pantagraph–20 hours ago
Illinois lawmakers: Stock drops no reason for pension worry. Updated 8 hrs ago; 0 … Illinois has the nation’s largest unfunded pension liability at $111 billion. × …
3000 jobs lost in Illinois in 2015 as state fails to recover from Great …
WSIL TV–18 hours ago
WSIL — Illinois‘ economy is still
struggling. That became clearer Friday as the Department of Employment
Security released figures showing the state lost 3,000 …
Morgan Stanley still sees 20 percent chance of US recession
Reuters – ?Jan 22, 2016?
The government will release its first reading on fourth-quarter economic
growth on Jan. 29. If GDP growth deteriorates to a range of 1 percent
to 1.5 percent in 2016, the Federal Reserve would likely refrain from
raising interest rates this year, the …
Creighton economist says ag slowdown spreading to rest of economy
Radio Iowa–15 hours ago
“With the global economic slowdown, our trading partners are buying less and less of our agricultural products.” The rollercoaster stock market leaves traders …
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