Stalled trade growth in China has wreaked havoc on the Asian stock market as global demand falters. Chinese imports fell by half this past June to 6.3%, while exports increased 11.3% in comparison to May’s 15.3% growth. Meanwhile, slow demand for China’s oil, iron ore and various other goods has triggered concern in other economies… Continue Reading
The financial ministers of the euro zone’s largest economies will meet on Tuesday prior to the upcoming full-blown summit of the European Union to be held on Thursday. The financial ministers of Germany, France, Spain and Italy hope to come up with a plan to shrink their differences on how to deal with the present… Continue Reading
Michael Bennet, head of derivatives and structured finance at the World Bank says that there is a good chance that the bank will once again issue yuan-denominated bonds in Hong Kong as soon as borrowing costs improve to a more favorable rate. According to information collected by the Bloomberg organization, International Finance Corp, a member… Continue Reading
Government officials in China announced that Apple Inc is looking into opening flagship stores in two of China’s major cities, Chengdu and Shenzhen, despite the fact that Apple is still in dispute with a Chinese company over the use of the iPad trademark. At the moment Apple has only five stores on the Chinese mainland,… Continue Reading
Wednesday is decision day for the European Central Bank. At issue is how the E.C.B. should handle the latest euro zone banking and debt crisis. In many ways the easy path for officials at the E.C.B. would be to save the economies with cuts in the benchmark interest rate to a historic low and/or to… Continue Reading
As finance ministers across the globe rally to discuss the flailing economy, Australia’s central bank is cutting interest rates in an effort to boost confidence throughout the nation. The country’s overseas outlook is relatively bleak, and local growth is slow as well. The Reserve Bank of Australia has minimized its cash rate to 3.5%, 25… Continue Reading
Business Day Live reviews the current economic situation in lands both near and far, revealing that RIM, the BlackBerry maker, has projected additional, significant losses. The company now struggles with tough decisions on whether to continue at its current pace, share, or just sell as its stock falls in value. Potential investment inclinations are marred… Continue Reading
The subsidiary that Fiat SpA, the carmaker created in 2011, Fiat Industrial SpA, announced its plans to merge with its CNH Global NV unit and then move its primary stock listing to New York in hopes of attracting a larger base of worldwide investors. Fiat Industrial has an 88 percent interest in CNH, manufacturer of… Continue Reading
Investors have been considering for a while now the possibility that Greece might walk out of the euro common currency in order to help them cope with the serious austerity measures that the international community is forcing on them as a condition for receiving international economic aid. A financial news service report has put some… Continue Reading
Chicago recently hosted the NATO summit, resulting in slower business over the weekend. Evelyn Holmes of ABC News explores the situation in and around Chicago’s Loop: Continue Reading