Economy NEWS

Personal Finance NEWS


Oil, gold hit record highs March 08, 2011 The price of gold reached a historic high on Monday and oil prices hit 2.5-year highs as the crisis in Libya and turmoil in the Middle East continued to disrupt markets. The price of gold hit record highs Monday, higher even than previous records set last week. An ounce of old reached 1,444.95 dollars (1,031.08 euros) ar ...	Australian economy grows despite catastrophic floods March 02, 2011 The Australian economy gathered pace in the final three months of 2010 against the backdrop of devastating floods that inundated the coal-rich state of Queensland. The national accounts show that gross domestic product (GDP) grew 0.7 per cent in the December quarter 2010, after growing 0.1 per cent in the three months to ...	U.S. House passes two-week spending bill March 02, 2011 The U.S. House of Representatives on Tuesday passed a bill to fund the federal government for two more weeks. The House voted 335-91 to approve the measure, which will cut federal spending by 4 billion dollars during the two weeks through March 18. The Senate is expected to take up the measure quickl ...
U.S. stocks fall amid oil, inflation concerns March 02, 2011 U.S. stocks closed lower on Tuesday as investors were concerned that rising oil prices would hurt the U.S. economic recovery, adding the risk of inflation. Although U.S. Federal Reserve Chairman Ben Bernanke said the rising oil prices was not likely to derail the economy, his words did little to release investors from th ...	Japan's monetary base up 5.6% year-on-year in February March 02, 2011 The monetary base in Japan rose 5.6 percent in February from a year earlier, rising for the 30th consecutive month from a 5.5 percent annual increase booked in the previous month, the Bank of Japan (BOJ) said in a report on Wednesday. The average daily balance of the monetary base stood at 101.0039 trillion yen (1.23 tri ...	U.S. economy in seventh quarter growth, unemployment rate still high March 02, 2011 The U.S. economy is now in its seventh quarter of expansion, but job growth remains relatively weak and the unemployment rate is still high, U.S. Federal Reserve Chairman Ben Bernanke said on Tuesday. "Last quarter, for the first time in this expansion, our nation 's real gross domestic product (GDP) matched its pre-cris ...
Australia's commodity export expected to lift 14% in 2011-12 March 01, 2011 Australia's agricultural, mineral and energy exports are likely to increase 14 percent to more than 256 billion U.S. dollars in the 2011-12 financial year, according to quarterly commodities report released on Tuesday by Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) . According to ABARES ...	EU may cut interest rates on loan to Ireland March 01, 2011 The European Union (EU) will discuss cutting interest rates on loans offered to Ireland as the bloc seeks a comprehensive package to deal with the debt crisis, a top EU official said on Monday. "Pricing policy, I am referring to the interest rates, is one key issue here which will be discussed in the context of the compr ...	U.S. GDP forecast lifted without good news on jobs March 01, 2011 Even as the projected growth of U.S. Gross domestic product (GDP) for 2011 has been lifted to 3.3 percent from previous estimate of 2.6 percent, the job situation is not expected to improve much, according to new projections by the National Association for Business Economists (NABE). The jobless rate will remain high, al ...