News about economy

Citi profits jump as investment revenues surge

US banking giant Citigroup Monday reported better-than-expected quarterly earnings as strong securities and investment banking revenues helped offset weaker mortgage business and continued US consumer caution.
16 July 2013 14:30

World's largest building opens in China

Boasting its own artificial sun and a floor area three times that of the Pentagon, the "world's largest building" has opened in southwest China to mixed reviews from its first visitors.
13 July 2013 17:59

Australia at crossroads as China boom ends: PM

Australian Prime Minister Kevin Rudd Thursday said the China resources boom was over, leaving the economy at a crossroads, as he called for a new productivity pact to boost competitiveness.
11 July 2013 13:34

US proposes tougher requirements on largest banks

US regulators Tuesday unveiled tough new capital requirements for the nation's eight largest banks in the newest move to strengthen the financial system in the wake of the 2008 crisis.
10 July 2013 15:34

China, Switzerland sign free trade agreement

China and Switzerland signed a free trade agreement -- Beijing's first in continental Europe -- in a deal that comes against a backdrop of trade tensions between the Asian giant and the EU.
06 July 2013 19:44

China manufacturing index hits nine-month low: HSBC

Chinese manufacturing activity contracted further in June, data showed Monday, with a closely watched survey hitting a nine-month low and adding to signs of weakness in the world's second-largest economy.
01 July 2013 11:01

Spain raises taxes on alcohol, tobacco

The Spanish government, which is struggling to cut one of the eurozone's largest public deficits during a double-dip recession, on Friday raised taxes on tobacco and alcohol.
29 June 2013 19:51

Deaths in China Xinjiang riot raised to 35: Xinhua

The death toll in one of the worst riots in China's restive Xinjiang area has been raised to 35 from 27, state media said Friday, amid reports of tightened security ahead of a sensitive anniversary.
28 June 2013 18:25

EU leaders meet as doubts grow over future

EU leaders meet this week knowing they have to deliver growth and jobs, especially for the young, as years of debt crisis austerity and soaring dole queues test faith in the European project.
25 June 2013 12:18

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