Chinese inflation rate beats expectations
The consumer inflation rate in China reached 2.5% in January. It is the highest level since May 2014, on the back of a global manufacturing recovery and price hikes in crude oil and other basic […]
Financial & Economic News
European Commission upgrades economic outlook
The European Commission issued a cautiously optimistic economic outlook. It is raising its 2017 eurozone growth forecast to 1.6% from 1.5%. At the same time, Economic Affairs Commissioner Pierre Moscovici said Europe must be prepared […]
Ex-Goldman chief has key role shaping Trump’s policies
Gary Cohn, who resigned as president of Goldman Sachs to work for the Trump administration, is emerging as a powerful voice on economic policy in the White House. At a time when most of the […]
Harvard loses $2B on investments and expenditures
While Harvard University raised a record $1.2 billion in donations for fiscal 2016 — the highest of any US university — the haul was overshadowed by $2 billion in investment losses and expenditures. Statistics from […]
Germany renews call for higher interest rate
German Deputy Finance Minister Jens Spahn has repeated the country’s call to the European Central Bank for a stronger euro and a rise in interest rates. The US has claimed that Germany is keeping the […]
Greek minister calls IMF demands “irresponsible”
The International Monetary Fund is making “irresponsible demands” that are disrupting Greece’s bailout, said George Katrougalos, the Greek alternate foreign minister for EU affairs. The IMF’s positions are the only obstacles standing in the way […]
Mexico increases key rate amid inflation, peso woes
Banco de Mexico has increased borrowing costs by 50 basis points, to 6.25%, more than double the December 2015 figure. The Trump administration’s aggressive stance and the end of government fuel subsidies are thought to […]
Goldman reportedly moving London hedge fund to US
Goldman Sachs Investment Partners (GSIP), which opened in 2008 with one of the biggest launches in hedge fund history, is folding its London operations into the United States. Goldman Sachs started shifting staff members to […]
Japan’s producer prices post first gain in almost 2 years
Japan’s main producer price benchmark, the corporate goods index, posted a 0.5% gain in January, the first increase in 22 months, the Bank of Japan said. The cost of petroleum and coal products spiked 22.3% […]
Chinese banks slow mortgage drawdowns
Commercial banks across China are delaying the release of mortgage funds in response to pressure from the People’s Bank of China to cool off the property market and slow capital outflow. The central bank has […]