Thomas Hughes

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Brexit will take heavy toll on UK economy, says rating agency

Fitch cuts forecasts for GDP growth and says firms will delay investment as a result of vote to leave EU<p>Firms are going to delay investment and hiring decisions as a result of the Brexit vote, which will take a significant toll on the UK economy, the rating agency Fitch has warned.<p>The agency, which …

The US economy has been doing poorly. Europe and Japan have done much worse.

This election season has seen a great deal of negativity about the state of the US economy. And it’s true that economic growth since 2008 has been slower than some earlier periods in US history.<p>But this chart from the Organization for Economic Cooperation and Development helps to put the …

The riddles of the Chinese economy | Financial Times

China’s economy showed signs of improvement in the first quarter. The indications are that Beijing’s fiscal and monetary stimulus measures have begun …

Economics

Global economy firm as Brexit shock hits

This month’s regular report from the Fulcrum nowcast models comes just before Brexit has had time to impact global activity indicators. There is no …

Economy

Brazil's Economy Goes From Apocalyptic To Just Plain Bad

“Green shoots” are appearing in the rubble that is the Brazilian economy.<p>Despite Tuesday’s smackdown from the surprising drop in oil prices, some new numbers out of Brazil today show a bottom may have been reached.<p>Granted, many fund managers have called a bottom in Brazil now for the past 12 …

France Overtakes Britain as World's No. 5 Economy After Pound Drops

PARIS, July 6 — France and Britain were vying for fifth place on the list of the world's biggest economies on Wednesday, with France nudging ahead after a renewed slump in the pound in the wake of the Brexit vote, Reuters calculations showed.<p>Britain's gross domestic product stood at 1.864 trillion …

Oil down 5 percent to two-month lows as U.S. crude draw disappoints | Reuters

NEW YORK (Reuters) - Oil prices fell 5 percent to two-month lows on Thursday after the U.S. government reported a weekly crude draw within analysts’ forecasts that disappointed market bulls expecting larger declines.<p>A pump jack stands idle in Dewitt County, Texas January 13, 2016. REUTERS/Anna …

The Real Challenge to Turkey’s Economy Isn’t Terrorism

Three attackers armed with machine guns and strapped with explosives conducted a frontal assault on Istanbul Atatürk Airport on June 28. The brutal attack left dozens dead and hundreds injured. Excluding smaller-scale bombing attacks of police and military targets, the airport bombing has been the …

Middle East

U.S. payrolls rebound in June in boost to economy

WASHINGTON, (Reuters) - U.S. job growth surged in June as manufacturing employment increased, more evidence the economy has regained speed after a first-quarter lull, but tepid<p>wage growth could see the Federal Reserve remaining cautious about hiking interest rates.<p>Non-farm payrolls increased by …

U.S. economy posts largest job gains in eight months in June | Reuters

WASHINGTON U.S. job growth surged in June as factories and retailers boosted hiring, confirming the economy has regained speed after a first-quarter …

Castro admits Cubans face hard times as economy slows sharply | Reuters

HAVANA (Reuters) - President Raul Castro told Cubans on Friday to brace for tough times because the Communist-run country must cut spending and energy supply as it deals with a cash crunch and reduced oil imports from ally Venezuela.<p>Children play next to an image depicting Venezuela's late …

Cuba

China's sluggish economy continues to drag

China will add to the growing gloom hanging over the world economy when it posts its weakest growth in seven years on Friday.<p>The world's second-largest economy is expected to have expanded by 6.6% in the three months to the end of June, compared with the same period a year earlier, according to a …

Australians are getting edgy about where the economy is heading

While it's had next to no impact on financial markets yet Standard and Poor's decision to place Australia's sovereign credit rating on watch negative -- paving the way for a potential ratings downgrade within the next two years -- has resonated with Australian consumers, and not in a good way.<p>The …

Hong Kong finance chief says political turmoil hurts economy

HONG KONG (AP) — Rising political turmoil in Hong Kong could hurt economic growth in the freewheeling southern Chinese business hub, the city's …

Worker protections may hurt California's economy, business group says

California's economy, one of the world's largest, has long outperformed the overall U.S. rate of job creation and business growth. But according to the U.S. Chamber of Commerce, the state is losing its edge.<p>Perhaps not surprisingly, the chamber blamed the state's labor regulations.<p>In the 1970s, …

Economics

China's Economy: Between A Rock and A Hard Place

The Chinese economy appears to be stuck in an uncomfortable and unsustainable quasi-equilibrium in which growth is just about stopped from falling further through continued central-bank and financial regulator-promoted credit growth and selective fiscal stimulus, funded by local governments …

Japan to craft stimulus by end-July, may issue construction bonds

TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe on Tuesday told his economy minister to compile an economic stimulus package by the end of this month to revive a flagging economy in the face of sluggish private consumption and investment.<p>Japan's Economics Minister Nobuteru Ishihara walks into …

Japan

Ireland's economy grows by 26pc in one year after US tax inversion spree

Ireland’s economy grew by a "very dramatic" 26pc last year, boosted by one-off corporate tax inversions and aircraft purchases, according to official statistics.<p>The Irish Central Statistics Office (CSO) had previously estimated that gross domestic product (GDP) rose by 7.8pc in 2015, but revised up …

OPEC sees tighter 2017 oil market, Brexit drag on economy | Reuters

LONDON (Reuters) - OPEC on Tuesday gave an upbeat outlook for the oil market in 2017, saying global demand for its crude would be higher than its current production and pointing to a supply deficit rather than a sizeable surplus that has weighed on prices.<p>The logo of the Organization of the …

Berlin: Brexit could hurt German economy but it's in good shape | Reuters

BERLIN (Reuters) - Britain’s decision to leave the European Union has increased economic risks for Germany but Europe’s largest economy is in good shape, the Economy Ministry said on Tuesday.<p>Finance Minister Wolfgang Schaeuble speaks at a news conference on 2017 budget and financial plan till 2020 …

The U.S. economy slows to crawl speed

U.S. economy likely grew 2.3 percent in second quarter: Atlanta Fed

The latest GDP estimate was slightly lower than the 2.4 percent figure calculated on July 6, the regional Fed said on its website.<p>(Reporting by Richard Leong, editing by G Crosse)

Japan unleashes $274B stimulus package to revive Economy

U.S., China clash over market economy status at WTO | Reuters

GENEVA The United States warned China on Thursday that it had not done enough to qualify for market economy status, especially in steel and …