Thursday, June 26, 2014
The U.S. economy shrank at a steep annual rate of 2.9 percent in the January-March quarter as a harsh winter contributed to the biggest contraction since the depths of the recession five years ago. But the setback is widely thought to be temporary, with growth rebounding solidly since spring.
Wednesday, June 25, 2014
Cuba has revised its 2014 economic growth forecast downward to 1.4 percent, Communist Party newspaper Granma said Monday, nearly a point off previous projections of 2.2 percent.
Saturday, June 21, 2014
Nearly 2 million people around the world became millionaires last year, a year-over-year increase of 15 percent, as surging stock and home markets lifted the fortunes of the wealthy. The increase raised the number of millionaires to a record 13.7 million.
Argentine stocks lost 4.9 percent Thursday, as the government warned it could default on its debt at the end of the month after it lost a U.S. court battle with bondholders.
Friday, June 20, 2014
The Federal Reserve will further slow the pace of its bond purchases because a strengthening U.S. job market needs less support. But it's offering no clear signal about when it will start raising its benchmark short-term rate.
Argentina will not make a bond service payment due June 30 in New York as ordered by a U.S. judge, the economy ministry said Wednesday, moving the country closer to default.
Thursday, June 19, 2014
The International Monetary Fund said Myanmar's economy is expected to build on already rapid growth but that momentum was at risk unless broad reforms are undertaken.
Wednesday, June 18, 2014
U.S. consumer prices increased in May by the largest amount in more than a year as the cost of food and gasoline showed big gains and airline fares jumped by the largest amount in 15 years.
The U.S. Supreme Court on Monday turned back Argentina's appeals against paying at least US$1.3 billion to “vulture fund” investors in its defaulted bonds, putting fresh pressure on the country's finances.
Tuesday, June 17, 2014
In August 2008, factory workers David and Barbara Ludwig both treated themselves to new cars. With David making US$22 an hour and Barbara US$19, they could easily afford the payments.