Economic News July 18, 2012
The French economy can grow at least 1 percent next year if the government sticks to deficit reduction measures and reforms, European Central Bank Governing Council member Christian Noyer said in a interview on Wednesday. There should be a gradual recovery in the second half of this year, which could help the economy to surpass the IMF's estimate of 0.8 percent growth in 2013, Noyer, who heads Bank of France told Europe 1 radio. (Jul 18, 2012) Full Article
Germany sold its 2-year treasury notes at negative yield for the first time on Wednesday as investors continued their flight to safety, reports said citing Bundesbank data. (Jul 18, 2012) Full Article
Eurozone' construction production rebounded moderately in May, data released by statistical office Eurostat showed Wednesday. (Jul 18, 2012) Full Article
Spanish banks' bad loans increased to 8.95 percent of total lending in May, the Bank of Spain reported Wednesday. The bad-loan ratio rose from 8.7 percent in April. (Jul 18, 2012) Full Article
Housing starts and construction permitting data for June painted a mixed picture for the future of the beleaguered U.S. housing market, according to figures released Wednesday by the Commerce Department. Privately-owned housing starts for the month jumped a notable 6.9 percent to a seasonally adjusted annual rate of 760,000 above revised figures for May. Furthermore, the May estimate was revised up to 711,000 from the 708,000 initially reported. Most economists had predicted a jump in n (Jul 18, 2012) Full Article
Forex Top Story
Members of the Bank of Japan's Monetary Policy Board felt that the Japanese economy is picking up as domestic demand remains firm, minutes from the bank's meeting on June 14 and 15 revealed on Wednesday. (Jul 18, 2012) Full Article
China's employment situation may become more complex and severe, with the economy growing at the weakest pace in three years, Premier Wen Jiabao has warned. (Jul 18, 2012) Full Article
A leading indicator for Australia's economic activity suggested that the economic growth may improve in the second half of this year, though the index currently remained below its long-term trend. (Jul 18, 2012) Full Article
Bank of England policymakers raised the size of economic stimulus by GBP 50 billion this month through a split vote as two members opposed the move, the minutes of the meeting revealed Wednesday. (Jul 18, 2012) Full Article
Unemployment in the United Kingdom decreased between March and May despite increasing evidence that the economy would have contracted for a third successive quarter in the second quarter. (Jul 18, 2012) Full Article
Portugal saw its borrowing costs for one-year funds decline at a debt auction on Wednesday, even less than Spain, indicating that investor confidence for the bailed-out nation has improved. (Jul 18, 2012) Full Article
Commodities
The price of gold moved down Wednesday morning as the dollar was steady after the Federal Reserve failed to hint on further monetary easing measures. (Jul 18, 2012) Full Article
The price of crude oil was moving lower Wednesday morning as traders await cues from the official inventories data from the EIA. (Jul 18, 2012) Full Article
Political News
Israel's Kadima party on Tuesday quit the coalition government of Prime Minister Benjamin Netanyahu over a dispute on military conscription for ultra-Orthodox Jews. (Jul 18, 2012) Full Article
North Korea's young leader Kim Jong-un was on Wednesday awarded the title of Marshal, the top commander of the Communist nation's 1.2-million-strong Army. (Jul 18, 2012) Full Article
Syrian Defense Minister Gen. Daoud Rajha was killed in a suicide attack in Damascus on Wednesday, the state TV reported. (Jul 18, 2012) Full Article
Policy chief of the governing Democratic Party of Japan (DPJ), Seiji Maehara, on Wednesday reiterated his call to the government to hold talks with the United States on reviewing the timetable for deployment of the Osprey military aircraft in the country. (Jul 18, 2012) Full Article
Currency Alerts
The yen gained ground in a relatively quiet Asian session on Wednesday as the market adopts a risk-aversion tone after the Federal Reserve Chairman Ben Bernanke gave no hints on stimulus yesterday. (Jul 18, 2012) Full Article
General News
India has urged the United Arab Emirates to investigate the killing of an Indian fisherman by sailors on board a U.S. Navy vessel that opened fire on a fishing boat off Dubai on Monday afternoon. (Jul 18, 2012) Full Article
The Tokyo Electric Power Company (TEPCO) began work to remove two unused fuel rods from a storage pool of its tsunami-wrecked Fukushima Daiichi nuclear power plant on Wednesday. (Jul 18, 2012) Full Article
The route of the Russian ship purportedly carrying helicopter gunships to Syria remained unchanged and the vessel is still headed to St. Petersburg, a spokesman for Femco, the ship's owner, said on Wednesday. (Jul 18, 2012) Full Article
As part of an effort to restore coral reefs, a team of 17 scientists from the National Oceanic and Atmospheric Administration, or NOAA, has collected around 50 metric tonnes of marine debris from Papahanaumokuakea Marine National Monument in the Northwestern Hawaiian Islands. (Jul 18, 2012) Full Article
Stocks To Watch
The stock comes on our radar after reporting strong quarterly results. The company seems well-positioned for international and brand expansions. (Jul 18, 2012) Full Article
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