The International Monetary Fund has lowered the growth forecast for China for the second time in just six weeks, saying it expects growth to reach "around 7.75 percent" this year. The Washington-based institution also warned that Beijing needs to make a "decisive push" to launch new market-oriented reforms and raised concerns about a rapid expansion of credit in the world's second largest economy.
By Alexander Green, Investment U Chief Investment StrategistNo one likes to hear an investment analyst say, "I told you so.
By Jonathan BarrattGlobal Markets ? Japan comes back into focus?"When in May stay away" is the normal catch-cry for traders this time of the year, although so far you would wonder given record highs in the US equity markets.
Most people don't realise their car is actually a powerful computer. Computers in modern cars control the multimedia system, sat-nav, dashboard and engine. And approximately one third of all computing in cars is just to tell you what's going on.
The OECD, in its newest report, did not present a colorful picture of the eurozone as it cut growth outlook for the 17-state bloc. The Paris-based organization underlined that the harsh economic conditions in Europe pose a threat to the global economy, thus the European Central Bank should take steps aimed at fostering growth.
The shortage of products in Venezuela has turned for the worse. Aside from running out of toilet paper, the country's Catholics may also no longer have the wine and the host when they attend Mass.
It may come as no surprise that the IMF decided to downgrade its growth outlook for China. The revision was driven by weak global economic conditions and unsatisfactory results recorded in China as well. Indeed, the IMF is concerned about the economic recovery in China and it believes that the country's authorities should introduce essential reforms aimed at bringing a sustainable recovery.
By Greg PeelThe Dow closed down 106 points, or 0.7%, while the S&P lost 0.7% to 1648 and the Nasdaq fell 0.
The Australian dollar dipped to a 19-month low on Wednesday up to 95.28 U.S. cents late afternoon after the release of strong American economic data. The rate was the currency's weakest since Oct 5, 2011.
Apple Chief Executive Officer Tim Cook shattered the Google Glass as having a limited appeal, but hinted at the same time the Cupertino-based firm will soon release a wearable technology.
The Australian share market closed modestly higher on Wednesday, as gains from mining players offset weakness in the financial sector.
The world's only known working anti-viral flu drug Tamiflu has been rendered ineffective against the bird-flu strain H7N9 virus. Essentially, the virus has mutated. It won't be long before global pandemonium erupts unless a new effective drug is created and immediately made available to humans.
The Australian sharemarket was up by 0.25 per cent in early trade, making it two straight days of gains. The improvement was short lived however, with stocks down a few points at lunch. The ASX200 Index has remained below 5000.0pts since late last week.
The annihilation of UK High Streets nears, according to the newest report. According to estimates, one in five stores in the UK would close by 2018, leaving more than 300,000 jobless. This alarming tendency, which has been already observed on High Streets, is driven by not only harsh economic conditions but also the growing popularity of online shopping.
Chevron Corp., the US's second largest oil company, stays rather optimistic on its LNG projects located in Australia as the Gorgon LNG development is in 60 percent finished.
The first Google Glass is in Australia thanks to a local consultancy firm with plans to develop workplace safety applications using the device.
Nena Hallasgo has been in Taiwan for seven years and the whole time she has been working in the country, the 43-year-old native of Cagayan de Oro City has never experienced more sleepless nights these days than she had ever before. The sleepless nights resulted from the fatal shooting of a Taiwanese fisherman by the Philippine Coast Guard. The fear, emanating from the shooting incident, has resonated to hundreds and thousands of other OFWs currently based in Taiwan.
By Greg PeelThe sharp sell-off in Australian and other global equity markets in the past few days has highlighted the vulnerability of equities, notes Citi, to a tapering off of liquidity being provided by the Fed.
New 17-months lows of USD 0.9570, AUD breaks stop and drops below 0.9600 within minutes this morning.
Beginning Wednesday, May 29, Australian supermarket giant Woolworths is cutting the price by up to 33 per cent for hundreds of grocery items as it renews its price war with competitor Coles.
Looking at the graph of the ASX 200 from the last two weeks, the term 'don't catch a falling knife' certainly springs to mind.
In US economic news the S&P Case/Shiller home price 20-index posted a 1.1pct gain in March taking annual growth up to 10.9pct, back at a double-digit pace for the first time since 2006.
Australia registered a $367 million trade surplus in the first quarter of 2013, indicating that the country is entering the third phase of the resources boom. The figure means exports are shifting to mining exports from mining investments as imports of construction machinery dipped 44 per cent.
By Greg PeelThe Dow closed up 106 points, or 0.7%, while the S&P gained 0.6% to 1660 and the Nasdaq added 0.
The Commonwealth Bank of Australia's (CBA) competitors are no longer just Westpac, ANZ Bank and the National Australia Bank (NAB), but also tech firms such as Apple and Google, CBA Chief Executive Ian Narev said on Tuesday.
Investors have pushed the market slightly higher for the first time in six sessions, with the All Ordinaries Index (XAO) up by a modest 0.2 per cent or 12 pts to 4950.6.The moves have been indecisive so far this week, with the closure of US and UK markets due to holidays overnight.
China saw its industrial profit climb in April as the energy and automotive sectors visibly accelerated. Yet the Chinese officials pour cold water on hopes that the economy will recover at the faster pace.
The Australian share market is making gains in early trade, following five sessions of losses and a lacklustre offshore lead.
Green investments are gaining traction in the business world. Find out more about green investments and learn about the 4 factors you need to consider before investing.
China's imports of Thai rice or grains is expected to surge in the following weeks after the recent discovery of cadmium metal contamination in the grains marketed by Hunan, China's largest rice-producing province.
