Markets Archives - Page 579 of 782

U.S. Lawmakers Reject Plan To Curb Controversial Surveillance Programme

The U.S. House of Representatives on Wednesday narrowly rejected a proposal to drastically restrict the National Security Agency’s ability to collect electronic information of millions of Americans, after a tense debate on the balance between privacy and national security.

In a 205-217 vote that created unusual political alliances in Washington, the U.S. House rejected an amendment to the defence appropriations bill, which would have blocked funding for the NSA’s programme to collect electronic information, including details of every call made by or to a U.S. phone.

Global Crime Networks Rake In $870bn Each Year

Tackling crime and drugs must be part of a developing global agenda, said a top United Nations official on Wednesday, who warned that contemporary organised crime is becoming increasingly sophisticated and highly adaptive.

Japan Hints At “Recovery” After 15-Year Deflationary Trend

The world’s third largest economy is showing signs of recovery and reversing a 15-year deflationary trend as a result of its unconventional use of monetary policy, dubbed Abenomics, according to an annual government report published on Tuesday.

In its July report, the Cabinet Office said Japan’s economy “started to pick up from the beginning of 2013 and there are some indications it is turning around from its prolonged deflation.”

China Bans New Government Buildings In Latest Frugality Drive

China has banned the construction of new government buildings for the next five years as it seeks to cut down on wasteful spending and address public anger at corruption, according to state media.

Is The Next Big Oil Discovery In Resource Rich Australia?

The shale and oil revolution that has transformed U.S. and global energy markets is on its way to Australia. According to U.S. government report, resource-rich Australia could be home to as much as 10 times the existing known gas reserves, higher than its existing oil reserves.

Australia’s massive mineral exports allowed it to weather the global recession, which began in 2008, quite nicely.

Obama Proposes “Bold” Plan To Boost Middle Class

U.S. President Barack Obama on Monday pledged to unveil “big and bold” ideas to help America’s struggling middle class, focusing on job creation and the economy, as he attempts to shift the debate to what he deems as more substantive matters impacting the livelihood and long-term interests of tens of millions of families.

G20 Backs Plan To Curb Global Tax Avoidance

Leaders of the Group of 20 endorsed a new standard on tax transparency over the weekend, warning that governments risked “global tax chaos” chasing dwindling revenues from multinationals unless the international tax regime is radically overhauled.

The endorsement, issued at the end of a two-day G20 meeting in Moscow, builds on an action plan drawn up by the Organisation of Economic Cooperation and Development to stop firms moving their profits across borders to avoid taxes.

Infographic: Africa’s Top 10 Economies

For the past decade, Africa’s economy has been growing, on average, by 5.3% per year. But that’s not the full measure of a continent. A recent study looked at four different pillars derived from 88 different indicators to help determine which African countries are succeeding and which ones are still struggling.

According to a recent study by the African Development Bank, Africa’s economy is growing faster than any other continent, with more than a third of its economies experiencing growth rates of more than 6 percent.

Key Economic News To Watch This Week: July 22

German Chancellor Angela Merkel, who is seeking a third term in general elections in September, begins election rallies around the country; Pope Francis travels to Brazil where he is expected to meet young prisoners as well as address the country’s top political and business leaders.

Monday, July 22

German Chancellor Angela Merkel, who is seeking a third term in general elections in September, holds election rallies around the country.

Is The G20 The New Steering Group For The Global Economy?

In the course of the 2008 financial crisis, the global geography of power has shifted from the G8 to the G20. Despite being a coalition of smaller economies, the G20 achieved relative success in consensus formation, effectively limiting the potential of the crisis, and became therewith a new player within the international community.

In late 2008 the policy failures of Western economies created a global problem which they could not fix by themselves.