ECONOMIC NEWS

Data from the Office of the U.S. Trade Representative shows that in 2018, the U.S. imported $683.9 billion of EU goods and $557.9 billion from China.However, looking at U.S. exports, these reached $574.5 billion to Europe and only $179.2 billion to China. These...

Interest rate cuts alone may not be enough to boost growth in Asia’s emerging markets, say some economists.That’s because the global growth slowdown poses a larger risk, which could call for more government spending, they say.In August alone, central banks in India,...

In Japan, Australia, South Korea, Hong Kong and Singapore, yields on 10-year government bonds have been dropping sharply.Recession fears have sent investors pouring into the assets.But investors are staying away from riskier markets — the high-yielding Asia bond...

The recent debt deal between the White House and Congress virtually guarantees trillion-dollar deficits well into the future.A Credit Suisse analyst says that if the Fed doesn’t cut interest rates, markets could be disrupted by the big influx of debt.Taxpayers have...

The U.S. budget deficit widened another $119.7 billion, good for a 27% increase over a year ago, according to government figures released Monday. Total outlays increased by 22.8% over last July as receipts grew 11.6%. For the year, receipts were up 3% in the October...

Last used in the 1990s, the designation was announced by the U.S. Treasury Monday after U.S. markets closed out a turbulent session.The Treasury’s move came less than 24 hours after China’s currency fell below the psychological red line of 7 to the dollar for the...

U.S. and Chinese negotiators wrapped up a brief round of trade talks that Beijing described as “constructive.”On Wednesday, Chinese Foreign Ministry spokeswoman Hua Chunying said that she was not aware of the latest developments during the talks, but that it was clear...

Net profit during the quarter rose 3.1% to 2.47 billion euros ($2.8 billion) out of 11.22 billion euros in revenues.The bank attributed its performance to strong growth at its corporate and investment banking unit, which saw its overall revenue during the quarter rise...

Singapore’s economy is set to grow between 1.5% and 2% this year, according to Steve Cochrane, chief Asia Pacific economist for Moody’s Analytics.He says, however, that a print around 1.5% growth is “more realistic.”If his prediction comes to pass, that would fall...

Personal consumption expenditures rose 4.3% in the second quarter, the best performance in six quarters.Gross private domestic investment tumbled 5.5%, the worst since the fourth quarter in 2015. The drop chopped a full percentage point off the final GDP number.“Soft...

Tax cuts could support economic growth in China, even if trade tensions do not improve, according to Liang Hong, chief economist of China International Capital Corporation.The U.S. and China have been locked in a trade dispute since early 2018 and both economies have...

The Swiss-lender announced that this is the highest second-quarter net profit since 2010. The profit boost comes in despite declines in both its investment bank and wealth management divisions.UBS said that a return to monetary stimulus from various central banks...