Economic News

NEW YORK (AFX) - With December under way, Wall Street might begin counting down the number of shopping days left -- not until the holidays, but until retailers can say with certainty how the shopping season fared and whether consumer spending held up as hoped. Investors have received mixed signals on the health of retailers and consumers in general recently and in the coming week will be eyei ...

BEIJING (XFN-ASIA) - China's excessive liquidity cannot be resolved by monetary policy, according to Li Yang, a Chinese Academy of Social Sciences economist. Li, speaking at a conference, added that a moderate monetary policy, rather than one focused on tightening, is expected for 2007. The foreign reserve management regime may also be adjusted, which would dramatically impact China's economy an ...

LONDON (AFX) - Growth in the UK manufacturing sector remained strong in the last quarter of the year despiet lower levels of optimism about future performance, according to the manufacturers' organisation, EEF. Manufacturing firms reported good trading conditions as export markets remained positive and as domestic orders picked up. Growth was widespread across UK regions while investment levels s ...

An International Monetary Fund (IMF) team is in Zimbabwe, which is suffering soaring inflation, to examine President Robert Mugabe's economic policies. Zimbabwe has the world's highest rates of annual inflation - more than 1,000%. Poverty levels have risen and unemployment is around 80%. The IMF will spend 10 days of talks, a year after Zimbabwe averted expulsion from the fund by clearing some arrears. The visit will go towards deciding what to do about Harare's IMF debts.  ...

Dan Atkinson and Simon Watkins, Mail on Sunday3 December 2006 STERLING'S surge against the dollar is helping debt-laden Britons. As the Bank of England meets this week to discuss borrowing costs, the strength of the pound has lengthened the odds on another rise in interest rates. OTHER STORIES House details sold in secret EMI talks over 300p-plus takeover Market report: Friday clos ...

LONDON (AFX) - Chancellor Gordon Brown is preparing to unveil plans to raise the air passenger duty on airline tickets, hitting the pockets of millions of Britons, the Daily Telegraph reported. Brown is understood "to have ruled out pushing through punitive increases in air passenger duty," however. At present the duty costs cost 5 stg per person for economy flights within Europe up to ...

NEW YORK (XFN-ASIA) - U.S. Treasury bond prices surged Friday, as an unexpected contraction in U.S. manufacturing activity revived expectations for a cut in interest rates in the coming months. At 5 p.m. EST, the 10-year Treasury note was up 7/32 from late Thursday. Its yield, which moves in the opposite direction, fell to 4.44 percent from 4.46 percent. It was near its lowest level of the year.  ...