Economy

Costco has officially raised the alarm on US tariffs

The threat of higher US duties and tariffs has spooked Costco.<p>The warehouse club—known for it’s discount products in bulk quantities—updated the “risk factors” section of its most recent annual report to explicitly add a warning that import taxes are a risk to its business success.<p>The document was …

Business

Inflation is at 3pc and Bank Rate is set to rise: this is what savers need to do right now

Prices have risen by 3pc on average over the past year, according to figures released this week, and savers will be acutely aware that interest rates on their deposits are failing to keep pace.<p>However, the Bank of England has hinted that the next rise in official interest rates is imminent. How can …

Bank of England

Janet Yellen: The Fed may be tightening, but quantitative easing's day will come again

The Federal Reserve may be in the middle of an historic reduction of its $4.5 trillion (£3.4 trillion) balance sheet, but quantitative easing’s day …

Janet Yellen

Fed's Yellen defends past policies as Trump mulls top Fed pick

WASHINGTON (Reuters) - Federal Reserve Chair Janet Yellen said on Friday that asset purchases and other unconventional policy tools must remain part of the Fed’s arsenal as long as the economy remains stuck in a low interest-rate economy.<p>FILE PHOTO: Federal Reserve Chairman Janet Yellen speaks …

Janet Yellen

Africa's economies ranked by GDP, which is really the largest?

<i>This comment piece was written by Charlie Robertson, Global Chief Economist, Renaissance Capital</i><p>Uuumm .. that’s a toughie. But we really should know …

Africa

The Real Halloween Scare: The U.S. Ran a $666 Billion Deficit Last Year

Americans haven’t been spooked by government debt lately, but fate seems to have provided a Halloween-themed wakeup call: the Treasury Department …

United States

As Stocks Continue to Go Up and Up, We Might Be Due for a Correction -- or Worse

Markets are never perfect.<p>Yet for the last eight-and-a-half years, they've been rather magnificent. The benchmark S&P 500 Index has jumped 19% over …

Business

Car industry could have been saved – but now is as good a time as any to lose your job

I feel sadness at the end of the car industry, and yet I must admit to having benefitted from the policies that led to its closure<p>Growing up I was always more of a Ford kid than Holden. I was in no way a rev-head but country South Australia in the 1980s being what it was you had to pick a side and …

Business

Experts not confident fake news problem can be fixed: Study

Experts are not confident the fake news problem can be successfully treated, a new study shows.<p>The Pew Research Center and Elon University’s Imagining the Internet Center conducted a survey among 1,116 professionals to determine whether they believe the pervasiveness of misinformation online will …

Business

Will Australia's 'miracle economy' keep on winning?

<b>It was the year Australia went to war in the Gulf, when Monica Seles and Boris Becker won tennis grand slams in Melbourne, and The Simpsons was first shown on Aussie television, while a swooning Bryan Adams was a hit with love-struck teenagers ("Look into your heart, baby").</b><p>It was 1991, and the …

Australian News

China still on track to hit growth target despite winter smog war: state planner

BEIJING (Reuters) - China’s economy is on track to meet its official growth target for 2017, the head of the state planning agency said on Saturday, despite a punishing war on pollution which is expected to slash industrial output over the winter months.<p>An employee uses a laptop next to a car body …

China

What’s Really Driving This Stock Market Higher

Spurring the overall market’s advance was optimism on two policy fronts: tax reform and Federal Reserve policy.<p>One doesn’t usually mark the …

Markets

No, we’re not half a trillion poorer, but foreign investment looks shaky

How did we mislay half a trillion pounds? Revised data from the Office for National Statistics has just reduced the UK’s ‘net international investment position’ from a surplus of £469 billion to a deficit of £22 billion. Downing Street dismissed this as ‘a technical revision’ — and in truth it’s …

Governor says change-resistant Indiana should think globally

INDIANAPOLIS – Factory work dwindled as companies moved operations overseas. Indiana, a manufacturing powerhouse where you once could get a good-paying job even without a high school education, was falling behind.<p>Yet when Subaru started building a plant here, it wasn't celebrated as a coup for the …

Business

The US dollar could rally further

• The US dollar has performed poorly so far this year, falling about 6% on a trade-weighted basis.<br>• Yet in recent weeks the dollar appears to have found its feet again, rebounding by about 3% on a trade-weighted basis since early September.<br>• Much of the medium term outlook for the US dollar hinges on the …

The Other Side Of The Fed's Balance Sheet

Who controls the Fed's balance sheet? The answer may seem obvious. The Fed, after all, determines the size of its balance sheet. It also controls …

Business

Borut Pahor, Slovenia's 'Barbie,' is poised for re-election

Two decades after Yugoslavia broke apart in wars, the Western Balkans are still struggling with violence, poverty and financial crises. But the small …

World News

Profit warnings rebound as GDP slows down

Britain's slowing economy is taking its toll on businesses, sending profit warnings up at the sharpest rate in more than five years.<p>GDP growth is set to come in at 0.3pc for the third quarter when the figures are published on Wednesday – the third consecutive quarter at this rate, giving Britain …

GDP

If the 'Great Lakes economy' were its own country, it would be the 3rd largest in the world

• <b>If the region surrounding the Great Lakes was its own country, it would be the 3rd largest economy in the world with a GDP of $6 trillion.</b>• <b><br>The region has highly integrated manufacturing industries, including automotive and aerospace.</b>• <b><br>The region produces billions of dollars worth of minerals every</b> …

Canada

Gold Still Valuable Insurance Against Market Volatility

Gold is facing strong crosscurrents from tepid inflation readings and their influence on central bankers' mindsets, particularly the Fed's and …

Personal Finance

Austerity puts public workers’ wages below private sector

Workers in public sector received hourly earnings of 0.6% less than their private counterparts, for first time since 2008 financial crash<p>Public sector workers’ pay has dipped below that of their private sector counterparts for the first time since the financial crash, Treasury figures obtained by …

Public Sector

Mounting foreign liabilities

The economy of Pakistan is quite eccentric and is based on government to government policies. It is quite complex to make predictions in it. Every …

Pakistan

What could derail the stock-market rally?

The U.S. stock market feels as though it is made out of Teflon, with virtually nothing able to disrupt its climb to record levels.<p>The broad S&P 500 index , which on Friday closed at a record for the 49th time this year at 2,575.21, has sailed through 350 trading days without a 3% pullback, rising …

Markets

How the Tax Plan Would Impact Financial Markets

Analysts have a warning for investors betting a tax overhaul will boost financial markets: don't get your hopes up.<p>The Senate passed a budget blueprint late Thursday that could help unlock a procedure that Republicans plan to use use to rewrite the tax code with just GOP votes. The plan, sketched …

Business

Fed's Yellen defends past policies as Trump mulls top Fed pick | Reuters

This story has not been edited by Firstpost staff and is generated by auto-feed.<p>Published Date: Oct 21, 2017 09:57 pm | Updated Date: Oct 21, 2017 …

Indian Economy

Kevin Hassett Is Betting That Corporate-Tax Cuts Will Deliver Growth

Making long-term predictions about the economy isn’t easy, but it’s Hassett’s job. And the stakes are high.<p>Kevin Hassett evidently has not received …

Economics

A Boom in Credit Cards: Great News for Banks, Less So Consumers

Full screen<p>1/4 SLIDES © Andrew Seng for The New York Times<p>2/4 SLIDES © Andrew Seng for The New York Times<p>3/4 SLIDES © Andrew Seng for The New York …

Banking

ASX rebound: What is behind it and can it last?

All of a sudden the local investors have regained their animal spirits.<p>For eight days straight the ASX has risen and is now up 4 per cent in the past …

Australian News

Aussie market expected to lift on Monday

A reasonably positive opening is expected on the local markets on Monday after Wall Street hit record closing highs on Friday.

Markets

State bonanza continues for the crisis-hit outsourcers

The Government has continued to hand the UK’s troubled outsourcing giants contracts worth billions of pounds despite fears over their financial health and ability to deliver services. Mitie, Interserve, Carillion and Capita have been awarded more than £2bn worth of public sector work since last …

Profit