Japanese stocks scaled seven-year highs on Wednesday on growing expectations Prime Minister Shinzo Abe will postpone a planned sales tax hike to avoid damaging a fragile recovery, and call a snap election to bolster his political standing.
Tags: GDP
U.S. economy resilient in third quarter as global growth cools
The U.S. economy grew at a much faster pace than initially thought in the third quarter, pointing to strengthening fundamentals that should help it weather slowing global demand.
Asia shares climb on U.S. optimism, oil pressured before OPEC
Asian stocks edged up on Wednesday after data showing the U.S. economy growing at a relatively solid pace calmed investor anxiety over slowing global growth, while the Australian dollar languished near four-year lows against the dollar.
Euro zone's troubles, gold vote test Swiss central bank
The Swiss National Bank faces the biggest test of its cap on the franc in two years but may find it easier to defend now than when euro zone breakup fears were rampant and the strategy unproven.
Japan's GDP 2014 News: Shrinks in third quarter; Prime Minister Shinzo Abe expected to call snap elections sooner to minimize parliamentary seats lost
Japan’s gross domestic product shrank by 1.6 percent in an annualized basis in the quarter ending in September, according to the preliminary report released by Cabinet Office.
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Japanese Prime Minister Shinzo Abe will postpone a planned tax increase and call a general election for December, a newspaper said on Wednesday, in what would be the biggest shift in Abe's economic policies since he came to power two years ago.
The global economy is growing at a slower rate, but is expected to gather momentum gradually if countries implement growth-supportive policies.
In its autumn forecasts European commission has revised down the growth forecasts for European Union and euro area. The report said, “Annual GDP growth in the EU this year is now projected to be 1.3%, while growth in the euro area is expected to be 0.8%.”
A robust pace of business spending likely buoyed U.S. economic growth in the third quarter, a sign corporate chieftains have confidence in the sustainability of the recovery.
The European Commission provisionally accepted the budgets of France and Italy, saying on Tuesday that no euro zone states had submitted deficit plans for next year that seriously breached EU rules for fiscal stability.
Unless it springs a major surprise, the U.S. Federal Reserve will call time this week on its program of government bond purchases, which at one point was pumping $85 billion a month into financial markets and the economy.
Euro zone businesses performed much better than forecasters expected this month and China's vast factory sector grew a shade faster but there were worrying signs that the upturn could be short-lived.
China's export and import performance in September easily beat forecasts, with imports showing unexpected buoyancy, helping to ease concerns about deteriorating domestic demand in the world's second-biggest economy.
When a guesthouse belonging to one of Nigeria's leading Christian pastors collapsed last month, killing 115 mostly South African pilgrims, attention focused on the multimillion-dollar "megachurches" that form a huge, untaxed sector of Africa's top economy.
