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  Wednesday, July 27, 2016  Home > Money > Economy
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Tracing America's Urban-to-Urban Migration Through the Recession

There’s obviously a lot of talk about the rural-to-urban shift that’s underway in countries all over the world. The majority of people now live in urban areas, and that’s not expected to change. But many countries have had urban majorities for decades. The United States, for…

January inflation remained under control in both the U.S. and Canada

Canada  inflation – all items CPI vs CORE
In January, the rate of inflation in Canada increased a little from +2.3% the month before to +2.5%, according to Statistics Canada. That was the year-over-year change in the Consumer Price Index (CPI). In the U.S., the inflation rate fell back ever so slightly to…

Inflation Doesn’t Just Happen

U.S. Foreign Reserves vs. Consumer Price Index Chart
First of all, inflation is man-made. It is the wealth-destroying outcome of reckless monetary and fiscal policies. For instance … From 1949 to 1969, when the Bretton Woods monetary system was working properly, official foreign exchange reserves increased 55 percent globall…

Japan: The Sleeping Sovereign Debt Giant

General Government Debt
(May 2010) Over the course of this year in my Money and Markets columns I've presented some compelling reasons why the euro zone and the euro were in for a life threatening crisis. And despite the general consensus along the way that the problems in Greece were contained …

U.S. November retail sales played a role in boosting the economy

U.S. retail sales – three months smoothed
Media hype concerning records set by retailers on Black Friday and Cyber Monday may have led to unrealistic expectations of how strong the November retail sales report from the Census Bureau would be. The total dollar volume pulled ahead 0.2% month to month, which was …

Sticking Out the Neck

“Never volunteer!” is the old army adage. “Volunteering looks great on the resume!” is the old job-hunter’s adage.   I was never in the army and never will be, now, as I’m 48. I am, however, coming into my 19th month of unemployment and I have a son with autism, so I thoug…

China–ASEAN Free Trade Area

ASEAN-China Free Trade Area
The ASEAN–China Free Trade Area (ACFTA), also known as the China–ASEAN Free Trade Area  is a free trade area among the ten member states of the Association of Southeast Asian Nations (ASEAN) and the People's Republic of China. The initial framework agreement was signed …
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  • Weak profits may prod Deutsche Bank to speed up restructuring 27 Jul 2016 | 10:06 am

    Deutsche's performance fell well short of the average of 188 million euros ($207 million) expected by analysts surveyed by FactsetDeutsche Bank acknowledged on Wednesday that it may be forced to push its restructuring faster, as it booked a 98-percent fall in profits in the second quarter. "If the current weak economic environment persists, we will need to be yet more ambitious in the timing and intensity of our restructuring," chief executive John Cryan said in a statement released with the results. Cryan is battling to convince markets and regulators that Deutsche is on course for recovery after it was described as a "major systemic risk" by the International Monetary Fund in June.

  • EU abandons budget fines against Spain, Portugal 27 Jul 2016 | 10:01 am

    Spain and Portugal have been under the EU's excessive deficit procedure since 2009 because of recurrent fiscal holesThe European Commission on Wednesday backed away from slapping fines on Spain and Portugal for running high deficits, avoiding what would have been a landmark move to impose tough budget rules. "Sanctions, even symbolic ones, would not have been understood by the public," the EU's economic affairs commissioner, Pierre Moscovici, said at a news briefing. The issue is especially sensitive for France, which is in danger of missing the EU's budget deficit limit of 3.0 percent of annual GDP next year.

  • Iran sets presidential election for May 2017 27 Jul 2016 | 9:51 am

    Iranian President Hassan Rouhani speaks during a news conference in IslamabadIran will hold its next presidential election in May 2017, state news agencies said on Wednesday, a vote in which moderate President Hassan Rouhani may seek a second term to push ahead with reforms resisted by powerful hardliners. The Guardian Council, a body of Shi'ite Muslim clerics and jurists that oversees elections, said in a letter to the ministry that it had agreed on a date of May 19 proposed by the ministry, according to students news agency ISNA said. Rouhani last year struck a deal with world powers on curbing Iran's nuclear program in exchange for relief from sanctions and has sought to open Iran's economy to foreign investors.

  • U.S. durable goods orders data points to weak business spending 27 Jul 2016 | 9:51 am

    The CAT logo is seen on the bucket of a Caterpillar machine on a lot at Milton CAT in North Reading, MassachusettsNew orders for U.S. manufactured capital goods rose less than expected in June amid weak demand for machinery and a range of other goods, suggesting a prolonged downturn in business spending. Business investment remains soft despite data ranging from retail sales to housing suggesting that the economy has regained speed after growth almost stalled early in the year. The Commerce Department said on Wednesday non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, increased 0.2 percent last month after decreasing 0.5 percent in May.

  • StanChart names Jose Vinals as new Chairman after year-long search 27 Jul 2016 | 9:48 am

    Jose Vinals, financial counsellor and director of the Monetary and Capital Markets Department of the International Monetary Fund (IMF), attends the"Revisiting Monetary Policy Frameworks" session at the 2015 IMF/World Bank Annual Meetings in LimaStandard Chartered has named former deputy governor of the Bank of Spain Jose Vinals as its new Chairman, ending a 16-month search for a new leader to continue a sweeping turnaround plan at the Asia-focused lender. Vinals will join the bank as Chairman designate on October 3 and succeed Peace on December 1, StanChart said on Wednesday. "José brings deep and extensive economic, political and regulatory experience of our markets and an exceptional grasp and understanding of the international financial system," Chief Executive Bill Winters said.