EU Chamber warns China: Open economy faster or risk backlash

A business group urged China on Tuesday to carry out promises to open its economy and warned that inaction might fuel a backlash against free trade amid mounting U.S. and European criticism. The European Union Chamber of Commerce said in a report that Beijing is backtracking in some areas, including by imposing new restrictions on […]

Italy’s Current Account Surplus Remains Broadly Unchanged

Italy’s current account surplus remained virtually unchanged in July compared to a year ago, data from the Bank of Italy showed Tuesday. The current account surplus came in at EUR 8.63 billion in July, down fractionally from EUR 8.64 billion in the corresponding month last year. The surplus on trade in goods rose to EUR […]

U.S. Housing Starts Fell, Permits Rose in August

U.S. single-family housing starts continued to edge higher in August, in what could be the last snapshot of the market’s health before the cleanup from major hurricanes begins to skew construction activity. Overall housing starts slipped 0.8% in August from the prior month to a seasonally adjusted annual rate of 1.18 million, driven by continued […]

BRICS investment to boost regional ties

Investment in infrastructure and manufacturing will continue to be the key engine for the BRICS countries – Brazil, Russia, India, China and South Africa – to enhance regional connectivity and stimulate trade activities, business leaders said. Concerning the asset amount, it may be a bit difficult for countries like India and South Africa to be […]

Borrowing bonds may get harder as Fed pares holdings

The Federal Reserve hopes to pull off the wind-down of its massive balance sheet with minimal market impact, but even a slow withdrawal may increase strains in a crucial section of the bond market. Any reduction in the U.S. central bank’s balance sheet could make it harder for banks and investors to borrow certain Treasuries […]

German Investor Confidence Surges as Concerns Over Euro Fade

German investor confidence rose for the first time in four months in a sign that concern over the risk to growth from the strengthening euro is subsiding. The ZEW Center for European Economic Research’s index of investor expectations rebounded to 17.0 in September from 10.0 in August. The reading, days before the region’s largest economy […]

France Cuts Deficit Forecasts as Growth Improves

The French government Tuesday cut its budget deficit forecasts for this year and next after taking austerity measures over the summer and as economic growth is stronger than initially expected. The finance ministry said it targets a deficit of 2.9% of economic output this year and 2.6% in 2018, instead of 3% and 2.7% it […]

U.S. Import Prices Rose in August

Overall prices for foreign goods shipped to the U.S. rebounded in August, buoyed in part by a rise in fuel prices. Import prices increased 0.6% in August from a month earlier, following declines in the prior three months, the Labor Department said Tuesday. Economists surveyed by The Wall Street Journal expected a 0.5% increase in […]