Economic News

BOGOTA, Colombia (AP) - When U.S. President George W. Bush arrives in Colombia on Sunday he is likely to praise the economic model of President Alvaro Uribe, his staunchest ally in a region increasingly dominated by anti-American leaders. But some of the praise may be undeserved considering new economic data pointing to a sag in public finances in Colombia, the beneficiary of $700 million in annua ...

LONDON (AFX) - The dollar strengthened against major currencies as strong US jobs and trade data reduced the likelihood of the Federal Reserve cutting interest rates any time soon. Data released this afternoon showed the US economy added 97,000 jobs in February. Though the headline figure was more or less in line with expectations, upward revisions to past data and an unexpected drop in the unemp ...

WASHINGTON (AP) - The nation's unemployment rate dipped to 4.5 percent in February even as big losses of construction and factory jobs restrained overall payroll growth. Wages grew briskly. The latest snapshot, released by the Labor Department on Friday, offered a mixed picture of the employment climate. Job gains in December and January turned out to be stronger than previously estimated, with  ...

WASHINGTON (AP) - The nation's unemployment rate dipped to 4.5 percent in February even as big losses of construction and factory jobs restrained overall payroll growth. Wages grew briskly. The latest snapshot, released by the Labor Department on Friday, offered a mixed picture of the employment climate. Job gains in December and January turned out to be stronger than previously estimated, with  ...

(Adds comments on German growth) FRANKFURT (AFX) - Bundesbank president Axel Weber said the European Central Bank's monetary policy remains "on the accommodative side" even after yesterday's rate hike, reiterating comments made by ECB president Jean-Claude Trichet. "Even after yesterday's interest rate increase, the monetary policy of the euro system remains ... on the accommodati ...

FRANKFURT (AFX) - Bundesbank president Axel Weber said the European Central Bank's monetary policy remains "on the accommodative side" even after yesterday's rate hike, reiterating comments made by ECB president Jean-Claude Trichet. "Even after yesterday's interest rate increase, the monetary policy of the euro system remains... on the accommodative side," Weber said according ...

LONDON (AFX) - European government bonds were little changed and stable in the wake of the European Central Bank rate increase yesterday and as investors position themselves for important US data in the afternoon. US payrolls data for February are expected to show a 95,000 increase, revised downwards from 100,000 after the ADP number earlier this week forecast the figure to come in at only 57,000 ...

HONG KONG (XFN-ASIA) - Share prices closed weaker as investors locked in profits quickly after yesterday's gains, amid continuing uncertainty surrounding global markets, dealers said. They said trading was cautious ahead of key employment data in the US tonight, although strong earnings results from some local firms and China's new corporate income tax policy helped limit the downside. The Hang  ...

The government is to review possible new curbs on the tax treatment of firms involved in private equity deals. But the Treasury stopped short of a wholesale review of the way debt is treated within the tax system. Private equity companies use clients' money and borrowed money to buy whole companies and try to turn them around. Critics dismiss such firms as asset strippers, but Gordon Brown has praised their ability to create jobs quickly and contribute to the economy. Private equity deals r ...

LONDON (AFX) - The euro softened after the European Central Bank's president Trichet altered some key catch-phrases in his statements on monetary policy after raising interest rates by a quarter point to 3.75 pct. Trichet said interest rates were 'moderate', instead of 'low', as they were previously described. However, he kept his view that policy remains 'accommodative', that inflation risks rem ...