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Tag Archives: world markets

Hitachi calls on Japanese government to tackle yen

TOKYO — The new president of Hitachi Ltd. urged the government to tackle the strong yen, which is squeezing business as he seeks to transform one of Japan’s biggest companies. Five months into the job, Hiroaki Nakanishi described the Japanese currency, which hit a fresh 15-year high of 83.32 yen to the dollar last week, as creating “big pressure” for ...

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Stock futures inch lower on bad news from Japan

NEW YORK — Stock futures inched lower after Japan became the latest country to report slowing growth, adding to concerns about the pace of a global economic recovery. Japan reported its economy grew just 0.1 percent in the second quarter, well below the 1.2 percent growth in the first quarter and short of expectations. The report follows signs last week ...

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China overtakes Japan as No. 2 economic power

TOKYO — Japan lost its place as the world’s No. 2 economy to China in the second quarter as receding global growth sapped momentum and stunted a shaky recovery. Gross domestic product grew at an annualized rate of just 0.4 percent, the government said today, far below the annualized 4.4 percent expansion in the first quarter and adding to evidence ...

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Europeans expected to keep interest rate at record low

BERLIN — The European Central Bank is set to leave its benchmark interest rate at a record low of 1 percent for the 14th straight month when it meets this week amid ebbing concerns over the health of the continent’s banking sector and a modest recovery for the euro. With little prospect of rates changing soon, ECB President Jean-Claude Trichet ...

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Stock futures up sharply on news from China

NEW YORK — Stocks were set to extend a rally today after China said it would allow its currency to appreciate against the dollar, a move that could provide a boost for U.S. manufacturers and exporters. Futures were sharply higher. China currently keeps its currency, the yuan, artificially low to bolster exports. At the same time, the weak currency makes ...

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Stock futures rise on European optimism

NEW YORK — Stocks are set to open the week higher, building on their first winning week in a month. Futures rose today following signs that Europe’s economy is still growing. Major European markets all rose after a report showed industrial production in the 16 countries that use the euro grew more than expected in April. The euro also rose, ...

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Stock futures tumble on euro woes

NEW YORK — Stock futures tumbled today after the euro fell to a new four-year low. Major U.S. indexes are set to resume their slide due to fresh concerns about the health of Europe’s economic recovery. Stocks fell late Friday ahead of the long holiday weekend after Fitch Ratings cut its view on Spain’s debt. A slowdown in manufacturing in ...

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Stock futures soar on rescue plan

NEW YORK — Stock futures skyrocketed today after European leaders agreed to a nearly $1 trillion rescue plan to avoid a major debt crisis and the U.S. Federal Reserve said it would also provide loans overseas. Dow Jones industrial average futures rose 394 points. The 16 countries that use the euro and the International Monetary Fund have agreed to create ...

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Leaders try to allay debt-crisis fears

BRUSSELS — European leaders sought today to convince fearful markets that the Greek debt crisis won’t spread to other countries and derail the continent’s wobbly shared currency and hesitant economic recovery. France, Italy and Portugal approved their share of a €110 billion ($140 billion) bailout to keep Greece from imminent default as the 16 leaders from countries using the euro ...

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World markets tumble on debt-crisis fears

LONDON — World markets fell sharply today following a huge sell-off on Wall Street and amid fears that Europe’s debt crisis could spread and derail the global economic recovery. In Britain, where investors were grappling with uncertain general election results, the FTSE 100 index was down 53.05 points, or 1 percent, at 5,207.94 following a slide in the pound. Germany’s ...

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