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Spending by U.S. consumers slowed in July as the impact of the tax rebates faded and a pickup in inflation eroded Americans' buying power.
Purchases rose 0.2 percent, one-third the pace in June, the Commerce Department said today in Washington, while prices surged the most in 17 years. The Reuters/University of Michigan final index […]
Filed under: term by Wolf
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Entitlement has become a bit of a swear word. In Washington, D.C., it’s technically a nonpejorative term for government programs like Social Security and Medicare that aren’t subject to the usual budget process.
But what many pundits and pols who talk about entitlements really mean is: Look at all those aging boomers who think they’re […]
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Import-price inflation in Germany, Europe's largest economy, accelerated to the fastest pace in almost eight years in July, led by surging energy costs.
Prices rose 9.3 percent from a year earlier, the Federal Statistics Office in Wiesbaden said today. That's the biggest gain since November 2000. Economists expected an increase of 9.2 percent, the […]
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Thailand's economic growth slowed more than expected in the second quarter, increasing the likelihood the central bank will soon stop raising interest rates.
Southeast Asia's second-biggest economy expanded 5.3 percent in the three months ended June 30 from a year earlier after a revised 6.1 percent gain in the first quarter, the government said […]
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Annual growth in an Australian index of leading indicators slowed in June by the most since 2000, reinforcing the central bank's assessment that the economy is cooling enough for it to cut borrowing costs.
The annualized growth rate of the leading economic index slowed to 2 percent from 2.4 percent in May, Westpac Banking […]
Filed under: economics by Wolf
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A 23 percent drop in oil prices since mid-July brightens the outlook for troubled airlines, but clouds remain thick over the industry, with little hope that carriers will scale back downsizing plans or repeal unpopular fees.
The U.S. airline industry has fallen on hard times, as rising fuel prices have far outpaced a series […]
Filed under: marketing by Wolf
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Indonesia's consumer confidence rose for the first time in eight months in July as households anticipated that inflation will slow and incomes will increase.
The measure rose to 82.1 last month from 79.1 in June, according to a Bank Indonesia survey released today. A reading below 100 indicates pessimists outnumber optimists.
A decline in […]
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American International Group Inc. said Wednesday that it lost more than $5 billion in the second quarter, as struggling credit markets stripped several billions of dollars in value from its credit default swaps portfolio and other investments.
The world’s largest insurer lost $5.36 billion in the April-to-June period, or $2.06 per share. In the same […]
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In 1769, short of funds to rebuild Prussia after attacks by Russia, Sweden and Austria, Frederick the Great let aristocrats, churches and monasteries raise money by pledging their estates as security to investors.
From those beginnings emerged what today is Europe's $3 trillion market for covered bonds — securities backed by assets such as […]
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U.K. consumer confidence fell the most in at least four years in July after house prices slumped, unemployment rose and inflation accelerated, Nationwide Building Society said.
An index of sentiment, taken from the responses of 1,000 people from June 23 to July 20, declined 11 points to 51, the biggest drop since the survey […]
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