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international economy

German economic growth eases in third quarter

Frankfurt - AFP

Economic growth in European powerhouse Germany slowed slightly in the third quarter, preliminary data showed Friday, as it braved headwinds from China's economy and the Volkswagen pollution scandal. Europe's largest economy expanded by 0.3 percent in the July-September period on a quarterly basis, the federal statistics office said, slowing from growth of 0.4 percent in the previous quarter. As questions

France returns to growth with 0.3% expansion in third quarter

Paris - AFPFrance's economy returned to growth in the third quarter of this year, expanding by 0.3 percent, after having earlier stalled, the national statistics agency said Friday. The initial estimate of 0.3 percent quarter-on-quarter growth in gross d

France's economy returned to growth in the third quarter of this year, expanding by 0.3 percent, after having earlier stalled, the national statistics agency said Friday. The initial estimate of 0.3 percent quarter-on-quarter growth in gross domestic product in July to September followed no expansion in the second quarter, which had raised concerns about the nation's weak economic recovery. Finance

Dollar under pressure on weak stocks ahead of US retail data

Tokyo - AFP

The dollar came under further selling pressure on Friday as investors turned cautious over falling global stocks while awaiting fresh US data on retail sales later in the day. The prospect of a gradual tightening of US monetary policy if and when the US Federal Reserve starts raising interest rates has weighed on the US currency. "The Fed may be

Coal subsidised with €10bn a year in EU

Berlin - AFP

EU states are subsidising climate-harming coal to the tune of 10 billion euros ($10.7 billion) a year, according to a German study due to be released next week. In Germany alone, the coal sector receives 3.7 billion euros of public money annually, according to the study by think tank the Heinrich Boell Foundation and environmental group Friends of the Earth,

Glencore shares tumble in Hong Kong after London plunge

Hong Kong - AFP

Shares in troubled mining giant Glencore plunged in Hong Kong on Friday, following a rout in London as a sell-off in metals shows no sign of abating. The losses come as the Switzerland-based company struggles under the weight of tens-of-billions-of-dollars in debt with a global rout in commodities prices hitting its bottom line. Shares in the firm closed 6.7 percent

Tribune Publishing 7% of staff taking buyouts

Washington - AFP

Tribune Publishing said Thursday seven percent of its staff had taken buyouts as it streamlines operations across its newspapers, which include the Los Angeles Times and Chicago Tribune. The publishing group, spun off from the larger media conglomerate Tribune Co. last year, said in a regulatory filing it would set aside $55 million for severance and related costs for the

UK-India trade deals announced as Modi speaks out on EU

London - AFP

Trade deals worth £9 billion (12.7 billion euros, $13.7 billion) will be announced during Indian Prime Minister Narendra Modi's visit to Britain, David Cameron said Thursday, as Modi indicated he wanted the UK to stay in the EU. London is rolling out the red carpet for Modi on his three-day visit to Britain, the first by an Indian prime minister

Hong Kong rebounds from sell-off, eyes on Fed's Yellen

Hong Kong - AFP

Hong Kong was the stand-out stock market Thursday after five days of losses while Asian traders await a speech from Federal Reserve chief Janet Yellen hoping for clues about US interest rates. Australia's dollar put on more than one percent against the greenback thanks to a surprise drop in the country's jobless rate but a recent rally in some other

Australia unemployment drops to 5.9%

Sydney - AFP

Australia's jobless rate dropped to a better-than-expected 5.9 percent in October, data showed Thursday, lowering expectations that the central bank will cut record-low interest rates. The Australian Bureau of Statistics figures showed that 58,600 jobs -- 40,000 full-time and 18,600 part-time -- were created last month, a surprise given below-trend economic growth. It is the first time the jobless rate

South Korea keeps interest rate at record low

Seoul - AFP

South Korea's central bank on Thursday left its key interest rate unchanged at a record-low 1.5 percent for the fifth straight month ahead of a possible US rate hike. The widely expected decision by the Bank of Korea was reached unanimously by its seven-member Monetary Policy Board, following a cut of 0.25 basis points in June. The bank has cut

G20 nations spend $452bn 2015 supporting fossil fuels

London - AFP

The G20 group of major economies spend $452 billion per year supporting fossil fuel industries, despite their primary role in causing climate change, according to a study released on Thursday. The report, which comes ahead of a crunch UN meeting in Paris to try to forge a global deal to avoid disastrous levels of climate change in December, accused governments

British town tries offshore tax tricks to rattle government

London - AFP

Small businesses in a British town including a baker, a bookseller and an optician are mimicking the tax avoidance schemes used by multinational corporations in an effort to pressure the government on loopholes. Small shops in the town of Crickhowell in southeast Wales, which has a population of 2,800, are drawing up plans to minimise their tax bills. They hope

Kirchner-backed candidate will negotiate with Argentina creditors

Buenos Aires - AFP

The Argentine presidential candidate backed by incumbent Cristina Kirchner would negotiate with hedge funds over bond payments ordered by a US court, an advisor said Wednesday. Daniel Scioli, who is lagging in polls to his rival Mauricio Macri ahead of the November 22 runoff vote, believes in the need to "negotiate in good faith," said Gustavo Marangoni, one of his

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Frankfurt - AFP

Paris - AFPFrance's economy returned to growth in the third quarter of this year, expanding by 0.3 percent, after having earlier stalled, the national statistics agency said Friday. The initial estimate of 0.3 percent quarter-on-quarter growth in gross d

Tokyo - AFP

Berlin - AFP

Hong Kong - AFP

Washington - AFP

London - AFP

Hong Kong - AFP

Sydney - AFP

Seoul - AFP

London - AFP

London - AFP

Buenos Aires - AFP