News 

EU’s incoming economy chief calls for less restrictive budget policies

“Gentiloni will have an important role in scrutinizing Italy’s draft 2020 budget which was submitted to the Commission last week” writes Midwest Communications Inc for 95kqds.com. EU Commission Vice President Valdis Dombrovskis told Reuters on Friday that Brussels would ask Italy for “clarifications” over its budget intentions.ROME (Reuters) – The European Union needs looser budgetary policies and an overhaul of its fiscal rulebook, the bloc’s designated economics commissioner said in an article published on Sunday.”It’s time for countries which have fiscal space to use it, in an overall context of…

Read More
GBP News 

Brexit is ‘stopping UK from resolving deep economic problems’

“Brexit is stopping Britain from addressing deep problems with its economy, a former Bank of England governor has warned” writes Andy Gregory for independent.co.uk. The UK economy unexpectedly shrank 0.2 per cent in this year’s second financial quarter – its first contraction since 2012.Mr King, who governed the UK’s central bank for a decade until 2013, asserted the global economy would likely not suffer another financial crisis within the next 12 months. Source: independent.co.uk

Read More
News 

ECB’s Vasle urges fiscal policy action to boost economy

“LJUBLJANA (Reuters) – The current challenging global economic conditions demand broad macroeconomic policy actions in the euro zone and not just monetary policy actions, ECB Governing Council member Bostjan Vasle said on Sunday” writes Midwest Communications Inc for 95kqds.com. He said the IMF believed there were significant risks for a faster slowdown of global economic growth than expected so far.These include trade conflicts, uncertainties regarding Brexit and slower economic growth in China.He said present economic conditions indicate there will be a longer period of low interest rates, high liquidity and…

Read More
News 

What Johnson’s deal means for workers’ rights, the NHS and the economy

“Johnson has repeatedly insisted NHS contracts will not be part of any future trade deal and put hospital funding at the heart of his bid for re-election” writes Heather Stewart for theguardian.com. According to Johnson in the debate on Saturday, not the NHS – which Labour fears could be opened up to exploitation by US corporations as part of a trade agreement with Donald Trump’s White House.On Friday night, the government announced that ministers would be obliged to make a statement each time any new law could affect employment rights,…

Read More
News 

Top Economic Advisers Warned Trump on Tariffs Before China Truce

“But Trump during the meeting pointed the finger at the Federal Reserve, saying it deserves to share blame for the economic downturn” reports thehill.com. Trump also reportedly called in one of his closest advisers on China, Peter Navarro, into the meeting.A Trump administration official confirmed to the Journal that the president hears from a number of different advisers before making decisions on trade talks. Source: thehill.com

Read More
News 

Top economic advisers reportedly warned Trump over tariffs before China trade truce

“It is said that Trump even called in trade hawk Peter Navarro when he was briefed about tariffs and the economic situation mid-way through the meeting: “Where’s Peter?”” reports forexlive.com. The meeting was said to have happened two days before trade talks between senior US and Chinese officials in Washington. The report says that Trump’s top economic advisers warned him that continued escalation of trade tensions could imperil the economy and hurt his chances of reelection, according to people familiar with the meeting that took place. Source: forexlive.com

Read More
GBP News 

Pound trades near five-month high on Brexit, yuan steady after China GDP

“An employee manually counts 20 sterling pound notes in this arranged photograph at a Travelex store in London, United Kingdom, on March 6, 2013” reports cnbc.com. Against the euro, sterling traded at 86.57 pence, near a five-month high of 85.77 pence.The dollar traded at 0.9879 Swiss franc, close to the lowest since Sept. 25 and on course for its biggest weekly decline since Aug. 9.The pound traded at $1.2856 in Asia on Friday, close to a five-month high of $1.2988 reached on Thursday after EU leaders unanimously backed the new…

Read More
News 

China’s growth slows to 27-year low, but Trump’s trade war is only partly to blame

“The trade war that Trump declared 18 months ago has complicated those efforts, but not as much as he has claimed” writes Beijing Bureau Chief for washingtonpost.com. The world’s second-largest economy grew by 6 percent in the three months to the end of September, the weakest quarterly figure since 1992.The impact from the tariffs and other restrictions has shaved only a fraction of a percentage point off the growth rate, economists say.China cannot sustain the double-digit growth rates it enjoyed until a decade ago. Source: washingtonpost.com

Read More
News 

Japan finance minister signals readiness to ramp up stimulus to fight risks

“On the global economy, Aso said he still expected a moderate recovery to continue through next year” writes Midwest Communications Inc for 95kqds.com. But the weakness has yet to spread to non-manufacturers or domestic demand,” Aso told reporters after attending a Group of 20 finance leaders’ working dinner.”Given uncertainty over the global economy, exports are falling and weighing on manufacturers’ output. International Monetary Fund (IMF) Deputy Managing Director Mitsuhiro Furusawa has said Japan can ramp up fiscal stimulus if the hit to the economy from October’s sales tax hike proves…

Read More
News 

Opioid crisis cost U.S. economy at least $631 billion, study finds

“The Post also found that the volume of pills handled by the drug companies climbed as the epidemic surged, from 8.4 billion in 2006 to 12.6 billion in 2012” writes Rachel Siegel for washingtonpost.com. The report was released as a federal trial on the epidemic was getting underway in Cleveland, a case widely seen as a bellwether for how future lawsuits against drug companies are handled. Source: washingtonpost.com

Read More