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Economic

Yellen raises concerns of China’s ‘unfair’ economic practices in call with Liu

July 4, 2022
Yellen raises concerns of china's 'unfair' economic practices in call with liu - photo licensed by shore news network.

WASHINGTON – U.S. Treasury Secretary Janet Yellen raised concerns about what the U.S. calls China’s “unfair, non-market” economic practices in a call with Chinese Vice …

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UK to introduce new sanctions on Belarus and Russian media

July 4, 2022

LONDON -Britain said it would on Tuesday introduce new economic, trade and transport sanctions on Belarus over its support for Russia’s invasion of Ukraine, and …

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German bankers voice fears over economic impact of looming gas crisis

July 4, 2022
German bankers voice fears over economic impact of looming gas crisis - photo licensed by shore news network.

FRANKFURT – Top bankers in Germany voiced concerns on Monday about risks facing Europe’s largest economy as worries grow about a looming gas crisis. Germany, …

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California Man Pleads Guilty For $3.6 Million Paycheck Protection Program And Economic Injury Disaster Loan Fraud

July 1, 2022
California man pleads guilty for $3. 6 million paycheck protection program and economic injury disaster loan fraud - photo licensed by shore news network.

SAN FRANCISO –Lebnitz Tran pleaded guilty to criminal charges related to a  scheme to submit fraudulent loan applications seeking millions of dollars in Paycheck Protection …

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Russia’s jobless rate falls to record low but economic hurdles mount

June 29, 2022
Russia's jobless rate falls to record low but economic hurdles mount - photo licensed by shore news network.

MOSCOW – Russia’s unemployment rate dropped to a record low in May but industrial output fell and consumer demand, measured by retail sales, waned after …

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Fed’s Mester backs 75 bps hike in July if economic conditions remain same – CNBC

June 29, 2022
Fed's mester backs 75 bps hike in july if economic conditions remain same - cnbc - photo licensed by shore news network.

(Reuters) – Cleveland Federal Reserve Bank President Loretta Mester told CNBC on Wednesday if economic conditions remain the same, she will advocate for a 75 …

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Analysis-Argentina’s economic crisis whack-a-mole goes into overdrive

June 28, 2022
Analysis-argentina's economic crisis whack-a-mole goes into overdrive - photo licensed by shore news network.

By Walter Bianchi BUENOS AIRES – Argentina’s economic alarm bells are ringing loudly with fears of a global recession and spiraling inflation stoking investor fears …

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China vows timely policy measures to cope with economic risks

June 27, 2022
China vows timely policy measures to cope with economic risks - photo licensed by shore news network.

BEIJING – China will roll out tools in its policy reserve in a timely way to cope with more economic challenges, as COVID-19 outbreaks and …

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Moody’s affirms United States’ rating at ‘Aaa’ on economic strength

June 24, 2022
Moody's affirms united states' rating at 'aaa' on economic strength - photo licensed by shore news network.

(Reuters) – Ratings agency Moody’s on Friday affirmed United States’ rating at “Aaa”, citing the country’s emergence from the pandemic shock with “exceptional” economic strength. …

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Yellen, Canada’s Freeland present united front on Ukraine, economic challenges

June 20, 2022
Yellen, canada's freeland present united front on ukraine, economic challenges - photo licensed by shore news network.

By David Lawder TORONTO – U.S. Treasury Secretary Janet Yellen met with Canadian Finance Minister Chrystia Freeland on Monday, pledging cooperation on issues ranging from …

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Peru expects lower economic growth on impact of mine protests

June 17, 2022
Peru expects lower economic growth on impact of mine protests - photo licensed by shore news network.

LIMA – Peru’s economic growth will likely be slightly lower this year, according to a new central bank forecast on Friday following disruptions to major …

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Russia needs economic ‘perestroika’ to end reliance on energy exports – cenbank chief

June 16, 2022
Russia needs economic 'perestroika' to end reliance on energy exports - cenbank chief - photo licensed by shore news network.

LONDON – Russia must reduce its decades-old reliance on exports of raw materials and stimulate private enterprise to avoid slipping back towards a Soviet-style technological …

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S.Korea’s top economic officials vow to stabilise markets

June 15, 2022
S. Korea's top economic officials vow to stabilise markets - photo licensed by shore news network.

SEOUL -South Korea’s top economic and financial officials agreed at a rare meeting on Thursday to strengthen coordinated efforts to keep the markets stable, while …

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Manulife Asia on track for 2025 earning goal despite economic weakness

June 15, 2022

By Selena Li HONG KONG – Manulife Financial’s Asia unit is on track to account for half of the Canadian insurer’s core earnings by 2025 …

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U.S. corporate debt hit hard as inflation shock intensifies economic fears

June 13, 2022
U. S. Corporate debt hit hard as inflation shock intensifies economic fears - photo licensed by shore news network.

By Mehnaz Yasmin and Davide Barbuscia (Reuters) – U.S. corporate bonds were pummeled on Monday as expectations of an aggressive rate hiking cycle, following hotter-than-anticipated …

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U.S. stock market has not priced in economic slowdown yet – Bridgewater co-CIO

June 9, 2022
U. S. Stock market has not priced in economic slowdown yet - bridgewater co-cio - photo licensed by shore news network.

By Carolina Mandl NEW YORK – Bridgewater’s Karen Karniol-Tambour, co-chief investment officer for sustainability, said on Thursday that the U.S. stock market has not yet …

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Economic instability from Ukraine war will abate over time, UK’s Johnson

June 9, 2022
Economic instability from ukraine war will abate over time, uk's johnson - photo licensed by shore news network.

LONDON – Prime Minister Boris Johnson warned Britain on Thursday there was no quick fix to the instability prompted by Russia’s invasion of Ukraine but …

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‘Recession Will Be Hard To Avoid’: World Bank Issues Dire Economic Warning, Hints At 1970s-Era Stagflation

June 7, 2022
‘recession will be hard to avoid’: world bank issues dire economic warning, hints at 1970s-era stagflation - photo licensed by shore news network.

‘Recession Will Be Hard To Avoid’: World Bank Issues Dire Economic Warning, Hints At 1970s-Era Stagflation Thomas Catenacci on June 7, 2022 The World Bank …

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Russia calls for coordinated BRICS action against global economic risks

June 6, 2022
Russia calls for coordinated brics action against global economic risks - photo licensed by shore news network.

(Reuters) – Russia, hit by Western sanctions, has called on the BRICS group of emerging economies to coordinate measures to stabilise the economic situation, Russian …

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Despite war, inflation, France sees positive economic growth in 2022 -minister

June 5, 2022
Despite war, inflation, france sees positive economic growth in 2022 -minister - photo licensed by shore news network.

PARIS – France’s finance minister said on Sunday he expected positive growth for 2022, but would revise economic forecasts at the start of July. “It’s …

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U.S. adds Russian airplane factories to economic blacklist

June 2, 2022
U. S. Adds russian airplane factories to economic blacklist - photo licensed by shore news network.

By David Shepardson and Karen Freifeld WASHINGTON/NEW YORK – The United States on Thursday added 71 Russian and Belarusian entities to its trade blacklist including …

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Russian economic forecasts improve despite lingering conflict in Ukraine – Reuters poll

May 31, 2022
Russian economic forecasts improve despite lingering conflict in ukraine - reuters poll - photo licensed by shore news network.

(Reuters) – Russia’s economy will contract less than expected this year and inflation will be lower than previously thought, a Reuters poll showed on Tuesday, …

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Turkish banks should boost sectors promoting long-term economic growth -watchdog

May 30, 2022
Turkish banks should boost sectors promoting long-term economic growth -watchdog - photo licensed by shore news network.

ISTANBUL – Turkey’s banking sector needs to prioritize sectors that will have a long term contribution to the economy, the country’s banking watchdog Chairman Mehmet …

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RBNZ chief economist says rate outlook could change with economic indicators

May 29, 2022
Rbnz chief economist says rate outlook could change with economic indicators - photo licensed by shore news network.

By Lucy Craymer WELLINGTON – The Reserve Bank of New Zealand’s chief economist said its outlook for strongly rising interest rates this year could change, …

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China punishes local officials for falsifying economic data

May 27, 2022
China punishes local officials for falsifying economic data - photo licensed by shore news network.

BEIJING – China has punished a number of local officials with demotions or dismissal for falsifying economic data, the country’s statistics bureau said on Friday, …

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Japan maintains economic assessment in May report

May 24, 2022
Japan maintains economic assessment in may report - photo licensed by shore news network.

TOKYO – Japan kept the overall view on its economy unchanged in May, saying it showed signs of improvement and removing a reference to the …

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Russian economic growth slows to 3.5% y/y in Q1 – Rosstat

May 18, 2022
Russian economic growth slows to 3. 5% y/y in q1 - rosstat - photo licensed by shore news network.

(Reuters) – The Russian economy expanded by 3.5% year-on-year in the first quarter of 2022 after growing 5% in the previous quarter, data from federal …

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Colombia Q1 economic growth forecast at 7.5% – Reuters poll

May 13, 2022
Colombia q1 economic growth forecast at 7. 5% - reuters poll - photo licensed by shore news network.

By Nelson Bocanegra BOGOTA – Colombia’s economy could have grown by 7.5% in the first quarter of 2022 versus the year-earlier period, mainly boosted by …

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U.S. economic outlook weakens, inflation set to persist – Philly Fed survey

May 13, 2022
U. S. Economic outlook weakens, inflation set to persist - philly fed survey - photo licensed by shore news network.

(Reuters) – The U.S. economic outlook has weakened and inflation is set to remain higher than previously expected for a while yet, a Federal Reserve …

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Putin says West is triggering a global economic crisis

May 12, 2022
Putin says west is triggering a global economic crisis - photo licensed by shore news network.

(Reuters) -President Vladimir Putin said on Thursday that the West had triggered a global economic crisis and a wave of ruinous inflation by imposing on …

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Denmark hikes economic growth forecast despite war, inflation

May 12, 2022
Denmark hikes economic growth forecast despite war, inflation - photo licensed by shore news network.

COPENHAGEN – Denmark’s economy could grow as much as 3.4% this year despite the negative effects of the war in Ukraine and record high inflation, …

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India’s economic growth to slow if central bank hikes rates – official

May 12, 2022
India's economic growth to slow if central bank hikes rates - official - photo licensed by shore news network.

NEW DELHI – India’s economic growth rate is likely to slow if the central bank hikes interest rates, Finance Secretary TV Somanathan told CNBC TV18 …

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Asian economic powers warn of risks from war, monetary policy normalisation

May 12, 2022
Asian economic powers warn of risks from war, monetary policy normalisation - photo licensed by shore news network.

By Tetsushi Kajimoto TOKYO -East Asian economic leaders warned on Thursday of risks to the region’s outlook and pledged to remain committed to market stability …

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PH.D. Chemist Sentenced To 168 Months For Conspiracy To Steal Traded Secrets, Economic Espionage, Theft Of Trade Secrets, And Wire Fraud

May 9, 2022
Ph. D. Chemist sentenced to 168 months for conspiracy to steal traded secrets, economic espionage, theft of trade secrets, and wire fraud - photo licensed by shore news network.

GREENEVILLE, Tenn. – On May 9, 2022, Dr. Xiaorong You, aka Shannon You, 59, of Lansing, Michigan was sentenced to serve 168 months in prison …

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EM economic growth to slow sharply this quarter -JPMorgan

May 9, 2022
Em economic growth to slow sharply this quarter -jpmorgan - photo licensed by shore news network.

NEW YORK – Economic growth in emerging markets is set to slow “sharply” this quarter weighed by China, Russia and the spread of tighter monetary …

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Four Plead Guilty To Racketeering, Shootings, And Economic Crimes In “Robles Park” Criminal Enterprise

May 9, 2022
Four plead guilty to racketeering, shootings, and economic crimes in “robles park” criminal enterprise - photo licensed by shore news network.

Tampa, Florida – United States Attorney Roger B. Handberg announces that Keaujay Hornsby, a/k/a “Plug,” (26, Tampa); Kareem Spann, a/k/a “Reem,” (27, Tampa); and Tywon …

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Zimbabwe’s bank lending freeze will worsen economic crisis -business chamber

May 9, 2022
Zimbabwe's bank lending freeze will worsen economic crisis -business chamber - photo licensed by shore news network.

(Reuters) – Zimbabwe’s decision to suspend bank lending in a desperate bid to arrest the rapid devaluation of its currency will worsen the economic crisis …

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Chile’s economic activity index bolstered by increase in services

May 2, 2022
Chile's economic activity index bolstered by increase in services - photo licensed by shore news network.

SANTIAGO – Chile’s IMACEC economic activity index, a close proxy of gross domestic product (GDP), rose 7.2% in March from the same month last year, …

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China’s COVID policy in line with pursuing economic progress, expert says

April 28, 2022
China's covid policy in line with pursuing economic progress, expert says - photo licensed by shore news network.

BEIJING – China’s “dynamic-zero” policy against COVID-19 is in line with pursuing economic progress, rather than in conflict with it, a senior health expert said …

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Sri Lanka teachers, bank workers join mass walkout over economic crisis

April 28, 2022
Sri lanka teachers, bank workers join mass walkout over economic crisis - photo licensed by shore news network.

By Uditha Jayasinghe and Alasdair Pal COLOMBO – Many schools in Colombo were shut and several train stations deserted on Thursday as teachers and train …

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Japan jobless rate hits lowest in almost 2 years, economic outlook still shaky

April 25, 2022
Japan jobless rate hits lowest in almost 2 years, economic outlook still shaky - photo licensed by shore news network.

By Kantaro Komiya TOKYO -Japan’s jobless rate unexpectedly fell to 2.6% in March, hitting the lowest rate since April 2020, although the number of furloughed …

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Black Knight: Mortgage Delinquencies Hit Record Low in March, Driven by Both Seasonal and Broader Economic Improvements; Prepays Up Despite Rate Increases

April 25, 2022
Black knight: mortgage delinquencies hit record low in march, driven by both seasonal and broader economic improvements; prepays up despite rate increases - photo licensed by shore news network.

The national delinquency rate dropped by more than half a percentage point in March, falling to 2.84% and shattering the previous record low of 3.22% …

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Exclusive-Germany cuts 2022 economic growth forecast to 2.2% – source

April 22, 2022
Exclusive-germany cuts 2022 economic growth forecast to 2. 2% - source - photo licensed by shore news network.

BERLIN -The German government will cut its growth forecast for Europe’s biggest economy for 2022 to 2.2% from 3.6% amid the war in Ukraine, a …

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‘Negative Growth’: Experts Call China’s Bluff On Its Latest Economic Report

April 19, 2022
‘negative growth’: experts call china’s bluff on its latest economic report - photo licensed by shore news network.

‘Negative Growth’: Experts Call China’s Bluff On Its Latest Economic Report Philip Lenczycki on April 19, 2022 China released its gross domestic product report for …

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Taiwan seeks Indo-Pacific Economic Framework membership with U.S

April 19, 2022
Taiwan seeks indo-pacific economic framework membership with u. S - photo licensed by shore news network.

TAIPEI – A senior Taiwanese minister has pressed U.S. Trade Representative Katherine Tai to include the island in the United States’ forthcoming Indo-Pacific Economic Framework, …

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Biden’s Economic Report Mentions ‘Gender’ 40 More Times Than ‘Inflation’

April 18, 2022
Biden’s economic report mentions ‘gender’ 40 more times than ‘inflation’ - photo licensed by shore news network.

Biden’s Economic Report Mentions ‘Gender’ 40 More Times Than ‘Inflation’ Harry Wilmerding on April 18, 2022 President Joe Biden released his annual Economic Report on …

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White House Economic Report Cites Leading Critical Race Theorist

April 18, 2022
White house economic report cites leading critical race theorist - photo licensed by shore news network.

White House Economic Report Cites Leading Critical Race Theorist Kendall Tietz on April 18, 2022 President Joe Biden and his economic advisers referenced prominent Critical …

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EXCLUSIVE: States That Tax Less Have Better Economic Prospects, Study Shows

April 18, 2022April 18, 2022
Exclusive: states that tax less have better economic prospects, study shows - photo licensed by shore news network.

EXCLUSIVE: States That Tax Less Have Better Economic Prospects, Study Shows Samantha Renck on April 18, 2022 States with lower taxes and less spending have …

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Explainer-Sri Lanka’s reluctance to tap IMF helped push it into an economic abyss

April 17, 2022
Explainer-sri lanka's reluctance to tap imf helped push it into an economic abyss - photo licensed by shore news network.

By Devjyot Ghoshal and Uditha Jayasinghe COLOMBO – Sri Lanka’s worst economic crisis has triggered an unprecedented wave of spontaneous protests as the island nation …

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President Joe Biden Appears to Shake Hands with Thin Air After Economic Speech

April 16, 2022
President joe biden appears to shake hands with thin air after economic speech - photo licensed by shore news network.

GREENSBORO, NC – U.S. President Joe Biden just delivered a speech about the U.S. economy, supply chain, and Vladimir Putin. After blaming Russia and Putin …

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