Canada need not fear U.S.-style housing crash: CIBC

October 30, 2012 under Useful Articles
Canadian Press, National Post Wire Services | Oct 30, 2012 10:16 AM ET | Last Updated:Oct 30, 2012 12:14 PM ET TORONTO — The news out of Canada’s real estate market isn’t good, but the country will avoid a U.S.-style real estate meltdown, CIBC said Tuesday. Economist Benjamin Tal said in a report that even recently released data about high levels of Canadian consumer debt aren’t proof that there were be
comments: Comments Off

Japan boosts stimulus measures to spur growth

October 30, 2012 under Useful Articles
30 October 2012 Last updated at 06:26 ET - BBC © 2012 The Bank of Japan has boosted its key stimulus measure amid concerns that Japan’s economic recovery may be running out of steam. It has extended its asset purchase programme, under which it buys bonds to keep long-term borrowing costs down, by 11 trillion yen ($138bn; £86bn). It will also offer unlimited loans to banks to encourage lending and boost d
comments: Comments Off

Flaherty cuts Canada’s 2013 growth forecast

October 30, 2012 under Useful Articles
Gordon Isfeld | Oct 29, 2012 11:22 AM ET | Last Updated: Oct 29, 2012 5:16 PM ET OTTAWA — If there is a consensus on the direction of Canada’s economy it is this: Growth will initially slow as government revenues are pinched by lower commodity prices, but then pick up enough momentum to balance the budget as planned. “The good news is that economic growth in Canada continues to be positive, if modest, and
comments: Comments Off

Six Canadian banks on review for Moody’s downgrade

October 29, 2012 under Useful Articles
John Greenwood | Oct 26, 2012 3:13 PM ET | Last Updated: Oct 26, 2012 6:44 PM ET TORONTO — Debt rating heavyweight Moody’s Investors Service served notice on six of Canada’s biggest banks that it may cut their rating by as much as two notches because of concern over high consumer debt levels and soaring housing prices. The downgrade warning covers Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Mont
comments: Comments Off

US economic growth up sharply in third quarter

October 26, 2012 under Useful Articles
26 October 2012 Last updated at 11:50 ET - BBC © 2012 The US economy grew more than expected in the three months to September, official figures showed. The world’s largest economy expanded at an annualised rate of 2% in the third quarter, the Commerce Department said. The jump was partly due to a large increase in government spending. The figures are one of the last pieces of important economic data befo
comments: Comments Off

Pending Sales of Existing Homes in U.S. Rose 0.3% in September

October 25, 2012 under Useful Articles
By Michelle Jamrisko - Oct 25, 2012 7:00 AM PT Americans signed fewer contracts than forecast in September to purchase previously owned homes, a sign the industry’s recovery will be uneven. The index of pending home resales climbed 0.3 percent after a 2.6 percent drop in August, figures from the National Association of Realtors showed today in Washington. The reading compared with a median forecast of a 2.5 pe
comments: Comments Off

Europe’s Crisis Creeps North as Schneider, Daimler Cut Targets

October 25, 2012 under Useful Articles
By Julie Cruz and Dorothee Tschampa - Oct 25, 2012 3:57 AM PT The European debt crisis is moving north into the region’s corporate engine room. Companies from Schneider Electric SA (SU) to Daimler AG (DAI) reduced forecasts for the year, while Sweden’s Sandvik AB said it will cut production. Pernod-Ricard SA, BASF SE (BAS)and ABB Ltd. (ABBN) cautioned for a continued slowdown. “The current economic
comments: Comments Off

U.S. Federal Reserve stays the course on stimulus

October 25, 2012 under Useful Articles
Pedro Nicolaci da Costa, Reuters | Oct 24, 2012 2:30 PM ET | Last Updated:Oct 24, 2012 2:42 PM ET WASHINGTON – The Federal Reserve on Wednesday stuck to its plan to keep stimulating the U.S. economy until the job market improves and repeated its vow to keep rates near zero until mid-2015. In a policy statement after a two-day meeting, the central bank acknowledged hints of strength in the U.S. housing market,
comments: Comments Off

Eurozone’s rot is spreading to Germany, while China mends

October 24, 2012 under Useful Articles
Jonathan Cable, Reuters | Oct 24, 2012 8:18 AM ET | Last Updated: Oct 24, 2012 9:56 AM ET LONDON — The eurozone’s biggest member Germany is being sucked into the bloc’s worsening economic quagmire, business surveys suggested on Wednesday, as similar data signalled the slowdown in China may be abating. The slump that began in Greece and spread to other smaller eurozone economies was clearly gripping the co
comments: Comments Off

Eurozone business activity hits fresh low

October 24, 2012 under Useful Articles
24 October 2012 Last updated at 07:12 ET - BBC © 2012 Business activity in the eurozone contracted at its fastest pace in almost three-and-a-half years in October, a survey suggests. The Markit Flash Eurozone Purchasing Managers’ (PMI) Composite Output Index fell to 45.8, from 46.1 in September. A figure below 50 indicates contraction. The reading is consistent with a quarterly rate of economic contractio
comments: Comments Off