Markets Archives - Page 660 of 782

Budget Battle Leaves US City Without Toilet Paper

Government employees from Trenton city, the capital of New Jersey, which is the third-richest state in the US, could soon face a shortage of toilet paper at their work place after its city council refused to approve a $42,573 contract for paper products from its suppliers.

According to Trenton’s Mayor Tony Mack, the city’s government buildings only have enough toilet paper to last until March 16; and the mayor blamed the city council for nit picking over budget details.

China Posts A $31.5 Billion Trade Deficit, Adding To A Slew Of Bad Economic Data

Hard landing, or soft landing? China’s trade deficit hit $31.5 billion in February as its exports slowed to a crawl, highlighting global concerns over the cooling down of the world’s second largest economy.

China’s trade data, released by the General Administration of Customs, revealed that February exports from China fell by 23.6 percent from the previous month, but rose 18.4 percent from the previous year.

China’s Economic Puzzle: Why The Bears & Bulls Just Can’t Agree

There have been wildly different opinions about China’s economic prospects in recent years. While plenty of investors remain very bullish about China, others express doubt about China’s economic future – with some even betting on a major financial catastrophe to happen anytime soon. Why are there two distinct camps on China’s economy and are there statistics to support either side?

Key Economic News To Watch This Week: March 12

A quick preview of the key economic events for the upcoming week:

Greece is officially in default, but it did not stop the S&P 500 from ending the week on positive gains. However, with oil prices well above the $100 mark, investors will be paying close attention to Friday’s February inflation report.

Monday, March 12

The United Nations Human Rights Council meets in Geneva to discuss the situation of enforced and involuntary disappearances.

Canada Closes On Free Trade Agreement With EU

The Canadian government could sign a free-trade agreement(FTA) with the European Union by the end of the year, said the country’s High Commissioner to the UK on Sunday during an interview on CTV’s “Question Period” television show.

Clinton Urges China To Prove Its Rise Is In The World’s Interest

United States Secretary of State Hillary Clinton has urged China to take on greater responsibility on the global stage, saying that China’s exceptional rise to prominence requires increased participation and engagement in world affairs.

Speaking in Washington, Clinton also said that China can no longer expect to be a ‘selective stakeholder’ and still earn the full respect of other countries.

Geithner: US Not Worried By China’s Attempts To Internationalise Renminbi

US Treasury Secretary Timothy Geithner has expressed doubt on whether China will be able to turn the yuan, or renminbi, into a global currency for international trade.

Speaking at an event at the Dallas Regional Chamber on Thursday, Geithner assured those present that the US dollar’s status, as the international currency of choice, was not at risk of being replaced by the yuan, or at least not in the short-term future, despite all of China’s efforts.

Can A Fiscal Devaluation Solve Europe’s Macroeconomic Imbalances?

The eurozone crisis has exposed the deep disparities in competitiveness among European economies. Southern European countries, in particular, are lagging far behind other European nations such as Germany and France. But while Europe needs to address the two macroeconomic imbalances – external and fiscal –at the heart of that crisis, such a solution does not require a euro breakup or a major austerity-induced recession.

How Many Billionaires Are There Today? 1,226 According To Forbes

How many people around the world have a net worth in 10 digits? Forbes magazine released yesterday its annual tally of billionaires around the world, 1,226 to be exact, and despite the financial turmoil witnessed last year, the tally is 1 percent higher than last year’s number.

The group’s total combined net worth grew by 2 percent to $4.6 trillion, almost the size of Russia and Germany’s GDP combined. The average worth of a listed billionaire is $3.7 billion.

How Much Do Americans Need To Feel Financially Secure?

A recent report has found that Americans need a significantly higher income to feel financially secure in this economy. According to WSL Strategic Retail, almost 30 percent of Americans with incomes between $100,000 and $150,000 say they struggle to cover their basic expenses, afford a few extras and still have enough for savings.