Category: News Desk

Popular French Economy Minister Faces Tough Road While Reforming Economy


Economy Minister Emmanuel Macron struggles to implement crucial reforms as politics stand in the way of progress, according to Reuters. Macron is wildly popular among French citizens, but his market-oriented approach remains a turn-off to Socialist party members, and he does not have enough support from President Francois Hollande to accomplish his goals. The president seeks reelection in 2017 and hopes to reform the economy before elections take place.

WTO to Grant Nigeria Relief from Dumping


Nigerian industry has suffered for many years thanks to the influx of less expensive items from abroad. This has effectively killed a number of local industries in the African nation; however, due to recently secured measures from the World Trade Organization (WTO), several of these dead industries may be resurrected once more.

U.S. Jobless Claims Fall as Inflation Rises


Prices are going up and unemployment is going down, but companies are still struggling to pay their debts.  Jobless claims fell 7,000 to 262,000, below the 275,000 expected and beneath the 269,000 prior reading, according to a new report by the U.S. Department of Labor.

U.S. Housing Data Turns Positive; Industrial Production Improves


Americans are jumping into the housing market as interest rates on mortgages plummet, and businesses across the country are betting on more demand from consumers.  The Census Bureau reported that privately owned housing starts rose 1.8% year-over-year in January to 1.099 million, with single-family housing starts accounting for two-thirds of the total.

Brazilian Economy Grows Worse as Credit Rating Drops


Recent data suggests that Brazil’s economy contracted for the tenth consecutive month in December, and Standard & Poor downgraded the South American nation’s credit rating further below junk status, according to the New York Times. Brazil has suffered from lower commodity prices, including mismanagement on the part of President Dilma Rousseff, and a loss in investor confidence. Experts believe the country will shrink 3.0 percent in 2016.

World Bank Takes on Zika Virus


The recent Zika virus outbreak has done more than terrify millions of people around the world; it has had an effect on global economies. Some countries have had to divert meager means to try to combat the outbreak. Others have lost significant amounts to declining tourism rates as visitors fear venturing to nations hardest hit by the outbreak. 

U.K. Wages Rise, Jobless Claims Fall Steeply


Signs of an improving job market in the United Kingdom are growing.  Incomes are up and jobless claims are down, while the unemployment rate remains at its lowest point in a decade. According to the Office for National Statistics, unemployment remained at 5.1% in December, despite expectations that unemployment would fall 10 basis points to 5%.

Ratings Companies: North Korea Impact on South Korean Economy Limited


Ratings firms believe North Korea’s missile launch and nuclear testing will have a minor impact on South Korea’s economic output. Ratings agencies will not adjust South Korea’s credit rating in wake of the North Korean incident, believing that the economy will remain in stable condition.

However, the South Korean won is the worst performing currency in Asia so far in 2016, and investors are looking for future rate cuts from the nation’s central bank.

Given the Obstacles, How can Great Britain Exit the European Union?


For months, Great Britain has been talking about withdrawing from the European Union (EU). The matter is up for full debate, and shall be put to a referendum. This has left many to ask how the British could exit (or “Brexit”) the European Union? Would it be legally possible? After all, no other nation has left the EU. 

Department of Labor $63.5 Billion Budget for 2017 Stresses Optimism, Training


The Department of Labor has asked for $12.8 billion in discretionary funding on top of $50.7 billion in other mandatory funding to feed training jobs for workers and other programs.  The Department of Labor has asked for the extra $12.8 billion to fund a variety of apprenticeship and worker-training programs, as the agency acknowledges Americans are struggling to compete in the workforce.