U.S. Fiscal Cliff ‘single biggest threat’ to global economy, Fitch warns

September 28, 2012 under Useful Articles
Pamela Heaven | Sep 27, 2012 8:36 AM ET | Last Updated: Sep 27, 2012 9:01 AM ET America’s fiscal cliff is the single biggest near-term threat to the global economy, Fitch Ratings said Thursday. “While it is not our base case, the dramatic fiscal tightening implied by the fiscal cliff could tip the U.S. and possibly the global economy into recession. At the very least it would be likely to halve the rate of
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French unemployment tops 3 million as economy struggles

September 28, 2012 under Useful Articles
26 September 2012 Last updated at 18:04 ET - BBC © 2012 The number of unemployed people in France has topped three million for the first time since 1999, according to latest labour ministry figures. August’s jobless total rose by 23,900 to 3.011 million, a 9% increase on a year earlier, marking the 16th consecutive monthly rise. Speaking before the data was officially announced, Labour Minister Michel Sap
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Downturn gathers pace in China and Europe, while U.S. stalls

September 20, 2012 under Useful Articles
Andy Bruce, Reuters | Sep 20, 2012 7:26 AM ET | Last Updated: Sep 20, 2012 9:24 AM ET LONDON — Aggressive new policy from the European Central Bank has so far failed to boost ailing eurozone business, according to surveys that showed a widening chasm between sickly France and a more resilient Germany. Thursday’s purchasing managers indexes (PMIs), which survey thousands of companies worldwide every mo
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Home prices eke out smallest August gain in 12 years

September 19, 2012 under Home Buyer Resources, Useful Articles
Andrea Hopkins, Reuters | Sep 19, 2012 11:23 AM ET | Last Updated: Sep 19, 2012 12:17 PM ET “The latest print for the Teranet HPI reinforces the trend observed in other housing measures with a correction well underway in some key markets,” Mazen Issa, Canada macro strategist at TD Securities, said in a note to clients. “While the national measure has been held up by the buoyancy in prices in Toron
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Housing correction underway in Canada, ‘soft landing’ likely: bankers

September 19, 2012 under Useful Articles
John Shmuel | Sep 18, 2012 6:42 PM ET | Last Updated: Sep 19, 2012 11:02 AM ET Canada’s housing correction “appears to be underway,” Toronto-Dominion Bank’s chief economist said Tuesday, one day after data showed national home sales plummeted in August. Craig Alexander and a team of economists said a combination of market fatigue, stricter mortgage lending and a deterioration in housing af
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Bank of Japan increases asset purchase programme

September 19, 2012 under Useful Articles
19 September 2012 Last updated at 06:19 ET -  BBC © 2012 The Bank of Japan (BoJ) has extended its asset purchasing programme by 10 trillion yen ($126bn; £78bn), following similar moves by the Federal Reserve and the European Central Bank. The move, aimed at boosting the economy, increases the overall size of the stimulus programme to 80tn yen. Although the increase had been anticipated by some analysts, ma
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Jobs and affordable housing draw young people, families away from B.C

September 18, 2012 under Useful Articles
By Barbara Yaffe, Vancouver Sun September 4, 2012 Vancouver and British Columbia are often cited as being among the best places in the world to live. But lately it appears a growing number of British Columbians aren’t buying it. Recent numbers from BC Stats reveal that nearly 2,600 people left B.C. and moved to other provinces in the first quarter of 2012 – up from 1,900 just one year earlier. That̵
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Mortgage rules exacerbating B.C. housing sales slump

September 18, 2012 under Home Buyer Resources
By Christopher Reynolds, Vancouver Sun September 17, 2012 The value of home sales in B.C. declined more than 25 per cent last month compared to a year ago, according to a report from the B.C. Real Estate Association. That drop is steeper than in any other province, but reflects a broader housing slowdown stemming in part from stricter mortgage rules across the country. Sales of residential units in the province las
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CREA cuts home sales forecast for this year and next

September 17, 2012 under Home Buyer Resources, Useful Articles
Canadian Press | Sep 17, 2012 10:07 AM ET | Last Updated: Sep 17, 2012 11:06 AM ET OTTAWA — The Canadian Real Estate Association has cut its forecast for Canadian home sales this year and next and lowered its national average price forecast. The downgrade announced Monday came as tighter mortgage lending regulations put in place by the federal government helped push August homes sales to their largest month-
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US factory output falls sharply

September 17, 2012 under Useful Articles
14 September 2012 Last updated at 11:10 ET - BBC © 2012 US industrial output fell 1.2% last month, its fastest decline for three years, after Hurricane Isaac shut down oil and gas rigs in the Gulf of Mexico. At the same time, factory production fell 0.7%, a sign that US retailers remain reluctant to buy stock in the uncertain economic climate. Retail sales also rose for the second month in a row in August, ac
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