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  • Bank execs warn of slowdown risk | Business Spectator
    clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Bank execs warn of slowdown risk 18 Jul 2013 5 17 AM 1 Economy Industries Financial Services Economy China Global News Asian Economy European Crisis Global Financial Crisis US Economy Investment bank execs highlight risk from QE tapering China slowdown You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Chief executives at some of the world s largest investment banks are warning in their quarterly earning reports that the global economy faces duel threats from the looming withdrawal of United States Federal Reserve stimulus spending and a slowing Chinese economy Goldman Sachs chief financial officer Harvey Schwartz noted the impact of talk about the potential tapering of Fed bond buying while adding that clients were also concerned with the potential slowdown in China during the quarter according to The Australian Financial Review Ultimately our clients are assessing the broader global economy specifically whether a recovering US will offset potentially slower growth in other economic regions Other executives have suggested a rosy outlook so long as the US and global economies continue to strengthen There s no reason to think that we re not going to have a good trading going forward because if the economy is strengthening and our view is that it is and that capital markets are going to kind of open up again and people get adjusted to sightly higher new rates JPMorgan chief executive Jamie Dimon said in response to a question according to the AFR UBS chairman Axel Weber earlier this month said that the Federal Reserve is doing what is best for the US economy but that any tapering of its stimulus spending would come at an awkward point in time for Europe No carousel of other videos after the video ends Print this page Related articles 13 Jan Abbott to pursue red tape

    Original URL path: http://www.businessspectator.com.au/news/2013/7/18/economy/bank-execs-warn-slowdown-risk (2014-01-12)
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  • IMF cuts world growth forecast | Business Spectator
    growth Weaker growth prospects and new risks raise new challenges to global growth and employment and global rebalancing the IMF warned It cut its world growth forecast for 2013 to 3 1 per cent and to 3 8 per cent for 2014 both 0 2 percentage points lower than it predicted in April For China it now sees 2013 growth at 7 8 per cent down 0 3 percentage points from previous and 2014 growth at 7 7 per cent an even larger 0 6 percentage point downgrade Forecasts for advanced economies that includes the G7 countries US Germany France Italy Japan UK and Canada were also trimmed While the Washington based institution did not provide a separate new forecast for Australia other advanced economies were cut by 0 1 percentage point for both 2013 and 2014 to 2 3 per cent and 3 3 per cent respectively Downside risks to global growth prospects still dominate the IMF warned While old risks remain new risks have emerged including the possibility of a longer growth slowdown in emerging market economies especially given risks of lower potential growth slowing credit and possibly tighter financial conditions The latter could result from an anticipated unwinding of monetary policy stimulus in the US Federal Treasurer Chris Bowen said the Australian economy was still expected to grow faster than advanced economies as a whole both this year and next In the May budget the government forecast growth of 2 75 per cent in the 2013 14 financial and three per cent in 2014 15 Mr Bowen said while the IMF has revised down world growth forecasts China and India are still forecast to grow at a solid rate in 2013 India another key Australian trading partner was downgraded 0 2 percentage points to 5 6 per cent for 2013 and by 0 1 percentage point to 6 3 per cent for 2014 Australia is not immune from global economic and financial uncertainty Mr Bowen said in a statement This underlines the need for responsible settings and policies to help manage the transition underway in our economy and to support productivity jobs and growth in the face of ongoing global economic weakness Print this page Related articles 12 Jan Obama picks Fed vice chair 11 Jan US jobs growth slows sharply 10 Jan Fed s Yellen expects 3 growth 10 Jan US jobless claims dip 09 Jan Tinker taper the Fed s cautious path More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or register to post comments Comments on this article Comments Policy Chrispy 52 Wed 2013 07 10 02 24 I would have thought these are cosmetic changes in forecasts China s growth will still be around 8 a year and India s around 6 China s growth is forecast to move downwards between 2013 and 2014 from 7 8 to 7 7 I would have thought this

    Original URL path: http://www.businessspectator.com.au/news/2013/7/10/us-economy/imf-cuts-world-growth-forecast (2014-01-12)
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  • Global Financial Crisis | Business Spectator
    2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Global Financial Crisis NYSE takes over Libor oversight Britain hands over Libor regulation following rate rigging scandal 10 42pm July 09 HSBC exec praises Aust banks Exec says UK could have avoided bailouts if it copied four pillars policy 1 41am July 06 2 comments NAB files claim against Goldman Claim dates back to toxic CDOs sold before global financial crisis 6 28am July 04 World unemployment rises OECD Advanced economies continue to struggle to spark job growth 3 41am June 12 1 comment ECB crisis plan faces court action German court to rule on ECB s controversial bond buying scheme 11 20pm June 11 EU slams IMF Greek bailout report IMF report blames Europe for Greek bailout failure 3 47am June 07 1 comment IMF warns on fresh global growth fears Lagarde says some glimpses of more sombre trends lowers growth forecast for France 7 30am June 05 2 comments Global mining outlook falls sharply PwC report warns of impact on mining dependent economies 12 06am June 05 Cyprus freezes bank bosses assets Central bank does not explain reason for freezing bank execs assets 4 50am June 01 EU unemployment hits record Jobless rate surpasses recent record high as worries deepen 11 06pm May 31 8 comments EU leaders vow united front European leaders vow to boost jobs economic growth across region 5 08am May 31 Europe reform targets toughened European Commission pushes countries to step up reform pace 1 06am May 30 OECD sees weaker recovery US growth forecast trimmed OECD warns of eurozone crisis impact 11 10pm May 29 Greek central bank cuts outlook Bank says Greek economy likely to contract further in 2013 11 04pm May 29 Bernanke s test finds the market wanting The fact that Ben Bernanke s mention of a possible early end to QE temporarily whacked markets overnight suggests we won t see an end to the policy anytime soon by Stephen Koukoulas 7 13am May 24 41 comments Britain long way from recovery IMF British govt urged to boost infrastructure spending to boost growth 4 24am May 23 Aust being sucked into currency war

    Original URL path: http://www.businessspectator.com.au/economy/global-news/global-financial-crisis?page=1 (2014-01-12)
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  • Global Financial Crisis | Business Spectator
    as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Global Financial Crisis Investment banks reformed Rankin Deutsche Bank s corporate banking head says sector has turned corner report 6 58am January 07 1 comment A Sterling threat to the UK recovery The UK s unemployment rate is now at its lowest level since 2009 giving the Bank of England scope to consider raising interest rates next year But the strengthening currency is cause for concern by Callam Pickering 1 38pm December 19 12 comments BoE governor spots global recovery Mark Carney sees global growth acceleration ahead in 2014 5 00am December 10 Growth in advanced economies stalling OECD Eurozone economic recovery slows as growth outlook appears mixed 12 12am November 19 Crisis response lessons left unlearned Policy makers failed to learn from the Asian crisis when responding to the European and American financial dramas throwing future crisis responses into doubt by Stephen Grenville 7 31am November 05 1 comment Chinese central bank official urges US to resolve budget impasse Global economy cannot handle heightened level of risk deputy governor 5 50am October 11 1 comment Buffett reaps US10bn from GFC Berkshire Hathaway banks rewards from lending to blue chip companies in crisis 9 19am October 08 IMF warns on US debt ceiling Failure to raise debt ceiling could wreak havoc on global economy IMF 1 37am October 04 1 comment A case for economic optimism amid the pundits gloom Economic pessimists are agonising over the world s longer term growth prospects but repairing balance sheets policy mistakes and political ineptitude is not an impossible task by Stephen Grenville 6 25am October 01 8 comments Britain ordered to cap bank bonuses EU orders Britain to abide by caps while it fights the new law in court 1 55am September 27 Lehman s ghost haunts banks from beyond the grave In the five years since Lehman Brothers collapsed the big banks have become bigger the rich have become richer and the system remains ever dependent on investors faith in central banks The world of finance is still a complex dangerous mess by Gillian Tett FT 4 06pm September 13 3 comments G20 warns on global growth World leaders warn recovery remains weak emerging markets fragile 2 55am September 07 Economic risks remain OECD Global economy on the mend but still a long way from a sustainable recovery 1 16am September 04 UBS pays off GFC rescue loan UBS free to repurchase once toxic assets after repaying SNB loan 10 45pm August 16 Developed

    Original URL path: http://www.businessspectator.com.au/economy/global-news/global-financial-crisis?destination=taxonomy/term/2962 (2014-01-12)
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  • China doubled US investment in 2013 | Business Spectator
    Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu China doubled US investment in 2013 8 Jan 1 57 PM Economy China Global News US Economy China s investment in the US doubled to 14bn despite rocky political ties You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AAP China s investment in the United States doubled to 14 billion last year despite sometimes rocky political ties with private firms leading the way according to a study About half of the value consisted of Shuanghui International s takeover of pork producer Smithfield Foods a 7 1 billion deal that marked the largest Chinese acquisition of a US company to date But the report by the Rhodium Group a New York based firm that scrutinises Chinese investment found that Chinese companies accounted for 70 000 full time jobs in the US The total value of investment hit a record high of 14b with high profile deals in real estate as well as Chinese investments in the General Motors Building and Chase Manhattan Plaza in New York Private firms and entrepreneurs dominated accounting for 87 per cent of transactions and 76 per cent of the total value of Chinese investment a contrast to the dominance of state firms until recently the study said US politicians have raised concern about investments by several Chinese firms Telecoms giant Huawei has largely dropped hopes of expansion in the world s largest economy after Congress said that its equipment could be used for spying The US has also raised intellectual property as a concern with China accusing hackers in the emerging economy of waging a vast theft campaign of American companies trade secrets But the Rhodium Group said that most deals that failed were not linked to

    Original URL path: http://www.businessspectator.com.au/news/2014/1/8/china/china-doubled-us-investment-2013 (2014-01-12)
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  • Fed's loose policy justified: Rosengren | Business Spectator
    Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Fed s loose policy justified Rosengren 8 Jan 1 32 AM Economy Global News US Economy Interest Rates A top Fed official says weak inflation jobs growth justify continued stimulus You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Despite clearer signs of a United States economic recovery its gradual nature comes with potentially deep rooted costs that warrant the Federal Reserve to keep its policy highly accommodative a top central bank official said Tuesday There are significant costs to a slow recovery said Boston Fed President Eric Rosengren in prepared remarks for the Connecticut Business Industry Association s Economic Summit Outlook 2014 It can potentially have longer lasting and structural implications for labour markets and the economy There may also be an impact on the Federal Reserve s ability to reach its inflation target in a reasonable time frame Because the central bank is falling short on each of its two mandates achieving full employment and maintaining stable inflation by fairly large margins Mr Rosengren said there is ample justification for the Fed to keep monetary policy highly stimulative to support growth In December the Fed s policy setting board decided to reduce its 85 billion monthly bond buying program by 10 billion starting in January Mr Rosengren who no longer has a voting slot this year was the sole dissenter at that meeting On the employment front the central banker isn t fully convinced the labour market is as strong as the recent decline in the unemployment rate might suggest Last reported at 7 per cent for November Mr Rosengren said the figure is still far short of the 5 25 per cent he estimates as full employment in the US The official also pointed to a low quit rate which suggests workers aren t confident enough to leave their jobs for potentially better prospects even amid tepid wage growth He also warned about employment in the prime working age group of 25 to 54 growing only in line with its population as well as the unusually high level of long term joblessness A very slow recovery risks a more permanent loss of workers from the formal labour force as skills atrophy and workers stop assuming that jobs matching their skills are available Mr Rosengren said Thus policymakers need to consider the cost of a slow recovery relative to

    Original URL path: http://www.businessspectator.com.au/news/2014/1/8/us-economy/feds-loose-policy-justified-rosengren (2014-01-12)
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  • US trade gap narrows | Business Spectator
    again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu US trade gap narrows 8 Jan 1 25 AM 1 Economy Global News US Economy November deficit the smallest since October 2009 You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Dow Jones Newswires United States exports continued to climb in November more evidence that stronger growth abroad could boost the American economy US exports rose by 0 9 per cent to a seasonally adjusted 194 86 billion in November from a month earlier the Commerce Department said Tuesday the highest level on record Imports fell by 1 4 per cent to 229 11 billion The trade gap narrowed to 34 25 billion from 39 33 billion in the prior month November s deficit was the smallest since October 2009 Economists surveyed by Dow Jones had forecast a trade deficit of 40 0 billion in November The global economy has shown signs of stabilising in recent months a potential boost for the US heading into the new year Weakness in Europe Japan and some emerging markets had held back US exporters during much of the recovery A year ago the global performance was considerably more mixed Royal Bank of Scotland economists said last week Faster global growth in 2014 could boost US gross domestic product on the margin US exports are up 5 2 per cent from a year earlier led by rising sales to China Mexico and Canada US exports to China from January through November rose 8 7 per cent compared with the same period a year earlier Exports to Canada the nation s largest trading partner were up 2 5 per cent in the same period Underscoring slow growth in Europe much of this year exports to the European Union were down 1 0 per cent in the January to November period The falling US trade deficit in part reflects a booming domestic energy industry Petroleum exports not adjusted for inflation rose to the highest level on record in November while imports fell to the lowest level since November 2010 Exports of goods also rose including industrial

    Original URL path: http://www.businessspectator.com.au/news/2014/1/8/us-economy/us-trade-gap-narrows (2014-01-12)
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  • Cold snap hits US retail | Business Spectator
    to mine precious user insights if it wants to compete Will Twitter s founder strike social gold twice Biz Stone is looking to tap into the selflessness of others with his latest venture Jelly Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Cold snap hits US retail 8 Jan 12 04 AM Industries Retail Economy Global News US Economy Retail sales slump in week post Christmas still clear last year s numbers You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Dow Jones Newswires The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index fell 5 4 per cent in the week ended Saturday from the previous week on a seasonally adjusted comparable store basis A bout of frigid weather in the Midwest and Northeast curbed shopping in stores with the exception of grocery stores Michael Niemira ICSC vice president of research and chief economist said Sales were also stronger for online retailers Promotions also were more widespread he added ICSC Research now expects to report December same store sales rose 4 to 4 5 per cent compared with its earlier view for an increase by between 3 and 4 per cent ICSC Research plans to release the final December figures Thursday On a year to year basis the weekly reading increased 1 7 per cent Print this page Related articles 12 Jan Obama picks Fed vice chair 11 Jan US jobs growth slows sharply 10 Jan Fed s Yellen expects 3 growth 10 Jan US jobless

    Original URL path: http://www.businessspectator.com.au/news/2014/1/8/us-economy/cold-snap-hits-us-retail (2014-01-12)
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