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  • Janet Yellen confirmed as US Fed chair | Business Spectator
    a deep recession It is more important than ever that we have strong regulators like Governor Yellen who can recognize emerging threats to economic stability Senator Sherrod Brown said on the Senate floor shortly before the vote In confirming her we can look forward to a new era of recovery and growth Republicans criticism of Ms Yellen largely centered on the risks of the Fed s bond buying program launched in September 2012 to spur the recovery and her support for it As chair she s likely to continue these same easy money policies with the same if not more vigor than her predecessor Senator Charles Grassley said In December Ms Yellen voted with other Fed officials to begin scaling back the bond purchases Since the financial crisis Senate votes and debates on Fed nominations have become increasingly tense reflecting the debate around the central bank s easy money policies Thirty lawmakers opposed current Fed Chairman Ben Bernanke s nomination to a second term in January 2010 Mr Bernanke will preside at the Fed s policy meeting Jan 28 29 His last day as chairman is Jan 31 Ms Yellen is expected to be sworn into office February 1 and lead the Fed s policy meeting in March Ms Yellen will face numerous challenges including winding down the Fed s easy money policies as the economy picks up forging consensus within a fractious policy committee honing her public communication skills and keeping a divided Congress informed on policy Ms Yellen has emphasised the Fed s important role in bringing down unemployment during times of economic strain She has been a strong supporter of the central bank s current bond buying program which aims to bolster economic growth by lowering long term interest rates in an effort to encourage spending hiring and investment With the economy now on the mend she will have to decide how rapidly to pull back on the program Too fast and the Fed could cool the recovery too slowly and it could fuel asset bubbles or excessive inflation The Fed cited improvements in growth and employment in December when it decided to trim its bond buys to 75 billion a month from 85 billion US job growth has picked up recently to a pace of close to 200 000 a month while the unemployment rate has fallen to 7 from above 8 before the Fed launched the bond buying program in September 2012 The Fed will want to spur continued progress in the labor market Policy makers stressed in December that future reductions in bond purchases will be incremental and hinge on further gains Another task will be building support among other Fed officials for the policy direction she wants to take The central bank s policy makers debated for months whether when and how to start winding down the bond buying program After Ms Yellen takes over they could disagree over the pace and size of future cuts in bond purchases if the economy performs

    Original URL path: http://www.businessspectator.com.au/news/2014/1/7/us-economy/janet-yellen-confirmed-us-fed-chair (2014-01-12)
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  • US PMI dips in December | Business Spectator
    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 US PMI dips in December 7 Jan 3 06 AM 1 Economy Global News US Economy December services sector activity was lowest for 2013 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 AFP US services sector activity slowed in December with orders at the end of the year showing weakness in many areas the Institute for Supply Management says But the services industry the largest part of the US economy showed some positive signs of stronger employment and rising prices The ISM purchasing managers index for the services industry fell to 53 0 from 53 9 in November the slowest pace during 2013 The index was at 55 2 in January 2013 A number above 50 denotes expansion The slowdown parallelled a December easing in the manufacturing sector the ISM s manufacturing PMI fell to 57 0 from 57 3 last month Half of the 16 services sectors reported expansion while the other half contracted the ISM said There was some slowdown impact on businesses from the holiday season and severe weather Early severe winter weather has had a major impact on business Both customers and employees were unable to reach the workplace said a respondent in the entertainment and recreation industry Among components of the services PMI business activity was slightly slower while new orders contracted But the employment sub index rose to 55 8 from 52 5 and prices were up to 55 1 from 52 2 The drop in orders to a 55 month low of 49 4 from 56 4 is very unwelcome we hope it is a fluke but next month needs to be watched closely said Ian Shepherdson of Pantheon Macroeconomics Print this page Related articles 12 Jan Obama picks Fed vice chair 11 Jan US jobs growth slows sharply 10

    Original URL path: http://www.businessspectator.com.au/news/2014/1/7/us-economy/us-pmi-dips-december (2014-01-12)
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  • US factory orders at record high | Business Spectator
    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 US factory orders at record high 7 Jan 3 02 AM 2 Economy Global News US Economy Highest monthly level since data series began in 1992 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 AFP New orders for United States manufactured goods surged in November to their highest level since 1992 lifted by rises in aircraft and ship orders the Commerce Department says New factory orders rose 1 8 per cent from October to US497 9 billion A557 7 billion in November the highest monthly level since the current data series began in 1992 the department said Excluding transportation new orders were up 0 6 per cent in November The November reading marked a rebound from October s revised 0 5 per cent decline and was in line with analyst expectations Transportation equipment a sector that can be volatile month over month led the November surge New transportation orders which have climbed for three of the past four months advanced 8 3 per cent to 81 1 billion Orders for ships and boats soared by 22 5 per cent from October followed by commercial aircraft up 21 8 per cent Motor vehicle orders rose 2 4 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 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

    Original URL path: http://www.businessspectator.com.au/news/2014/1/7/us-economy/us-factory-orders-record-high (2014-01-12)
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  • Peter Morici | Business Spectator
    that lie at the heart of the financial crisis by Peter Morici 4 59pm February 22 An even greater depression From 1876 to 1897 the US economy experienced one of the biggest contractions on record Either we fix the banks and exchange rates or we can look forward to a similar experience by Peter Morici 4 15pm February 22 Jobs jettisoned in a troubled cliff solution The deal to prevent the US economy going over the fiscal cliff fails to solve America s problematic unemployment rate which is still inching up by Peter Morici 8 21am January 03 3 comments Wrestling the US trade deficit downer To offset the risk of being thrust back into a recession the US must slash its trade deficit through domestic energy development and conservation and force China s hand on protectionism by Peter Morici 8 34am December 11 Storming back from Hurricane Sandy Initial estimates of Sandy s economic impact are in the range of 35 45 billion But reconstruction benefits up to 36 billion mean the capital hit will be far less devastating than it first appears by Peter Morici 11 29am October 30 Storming back from Hurricane Sandy Initial estimates of Sandy s economic impact are in the range of 35 45 billion But reconstruction benefits up to 36 billion mean the capital hit will be far less devastating than it first appears by Peter Morici 7 00am October 30 2 comments Mitt s missing economic memo As the Republican Party struggles in the polls its leaders are failing to grasp the fact that their basic economic message is unappealing to US voters scarred by the GFC by Peter Morici 11 22am October 02 2 comments America at a dead end on jobs A woeful participation rate has been the driver of US unemployment falls and the next president will have to hit 3 per cent GDP growth just to break even on jobs by Peter Morici 7 07am September 07 1 comment A savvy running mate for Romney With succinct plans for a federal budget fix US energy development and broad health care benefits Republican vice presidential candidate Paul Ryan could propel Mitt Romney into the White House by Peter Morici 6 52am August 13 6 comments Tipping towards a double recession National governments in the US and Europe are bent on flawed economic policies leaving the US Fed and ECB little room to influence market reality by Peter Morici 7 08am August 01 7 comments Romney must plug a Chinese drain While the US recovery is struggling Americans are spending again on Chinese goods But Barack Obama s failure to confront Chinese mercantilism leaves a clear opportunity for Mitt Romney by Peter Morici 10 25am July 26 3 comments Bracing for another US recession America s Great Recession has been driven by China s trade surplus the cowboy culture on Wall Street and the plight of underwater homeowners And there s not much left that the Fed can do about it by Peter Morici 6 28am July 25 11 comments Writing on the wall for Club Med bonds With some Mediterranean bond rates now exceeding nominal GDP growth the case seems hopeless for Italy Spain Portugal and Greece and unfortunately Club Med bonds don t make good wallpaper by Peter Morici 8 06am July 18 4 comments America s unwavering jobs dilemma The US economy is adding jobs at a painfully slow pace and unless drastic measures are taken to address oil supply and the trade imbalance with China the situation will only worsen by Peter Morici 6 32am July 09 1 comment Time to cut off Europe s club med There s no solution on the table at Europe s summit that won t exacerbate the problems Officials should stop the charade now and organise and orderly exit of club med states before their pain worsens by Peter Morici 8 56am June 28 8 comments Page 1 America can t afford its liberal dream Looming economic disaster in China Fed policy uncertainty and the botched rollout of Obamacare could steer the US economy off the path to prosperity and towards another crisis by Peter Morici 11 19am January 06 13 comments The jewel in the Volcker rule The Volcker rule that restricts major US banks from engaging in proprietary trading is about to come into effect That should help shift money from bankers bonuses and put it back in the hands of American small business by Peter Morici 6 37pm December 13 9 comments A depressing déjà vu from the US banks US banks are flush with cash and chasing high returns have again started issuing dodgy loans to shaky businesses The painful lessons of history may soon be revisited by Peter Morici 8 37am June 14 6 comments Weekend read Dragged down by deficits The US economy would be worth US1 5 trillion more today had the Government not sat idle during a decade of record trade deficits by Peter Morici 6 21pm February 22 WEEKEND READ Out of sight out of mind A bill aimed at reducing greenhouse gas emissions in the US may produce an increase in emissions elsewhere around the globe by Peter Morici 5 59pm February 22 WEEKEND READ That other 700 billion All eyes might be on the anticipated US financial bail out package but there is another figure close to 700 billion that needs to be addressed the US trade deficit by Peter Morici 5 16pm February 22 WEEKEND READ Barack s bold agenda President elect Barack Obama will need to move beyond bank bail outs and fiscal policy and adopt a more muscular approach to address the structural issues that lie at the heart of the financial crisis by Peter Morici 4 59pm February 22 An even greater depression From 1876 to 1897 the US economy experienced one of the biggest contractions on record Either we fix the banks and exchange rates or we can look forward to a similar experience

    Original URL path: http://www.businessspectator.com.au/contributor/peter-morici (2014-01-12)
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  • Fed wary of bubbles: Plosser | Business Spectator
    Business Accelerators Webinars eBooks Menu Fed wary of bubbles Plosser 6 Jan 12 02 AM 3 Economy Global News US Economy Philadelphia Fed president notes bank s weak forecasting record 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 United States Federal Reserve is well aware that its bond buying and low interest rate policies could lead to asset bubbles and is monitoring developments closely Philadelphia Fed president Charles Plosser said Mr Plosser was asked whether recent highs in the US stock market which just had its strongest year since 1997 was the sign that loose monetary conditions are artificially pumping up markets I think we need to be concerned about that possibility Mr Plosser said at the American Economic Association s annual conference The Fed is aggressively trying to study asset classes leverage and other factors that might signal distortions he said Any eventual unwinding of potential bubbles could hurt growth in the future said Mr Plosser He emphasised policymakers weak forecasting record when it comes to bubbles Plosser who opposes Fed bond buying and will be a voter on the policy setting Federal Open Market Committee this year said he would like the Fed to wind down the program more quickly The central bank last month said it would reduce its bond purchases by 10 billion to 75 billion per month 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 Don Gilbert Mon 2014 01 06 06 32 It is past tense Mr Plosser Take loose Monetary Policy and house prices in the UK Ref Prof Neil Crosby s work When ever there has been loose Monetary Policy house prices shot up and crashed Guess what is happening in Australia Right now Aided and abetted by State and Federal Governments So go back to the original reason for Quantitative Easing by the Fed To maintain liquidity to keep wheels of the economy liquid following Greenspan s disastrous management of the US financial system And to replace paper and other bits of paper called financial instruments Now Ben Bernanke is hooked has hooked the US on the same treadmill That is all it is It is not about investing it is about the World s largest

    Original URL path: http://www.businessspectator.com.au/news/2014/1/6/us-economy/fed-wary-bubbles-plosser (2014-01-12)
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  • US jobless claims fall | Business Spectator
    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 US jobless claims fall 3 Jan 9 10 AM Economy Global News US Economy Govt data shows fall in first time unemployment insurance claims over holidays 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 First time claims for United States unemployment insurance slipped last week during the Christmas holidays according to government data Initial jobless claims a sign of the pace of layoffs fell by 42 000 to a seasonally adjusted 338 000 in the week ending December 21 from a revised 380 000 in the prior week the Labor Department said The reading came in above the average estimate of 333 000 Analysts pointed out that claims data during the year end holiday season tend to be difficult to adjust for seasonal factors The four week moving average which helps to smooth weekly volatility rose to 348 000 from a revised 343 750 The data likely won t be free of seasonal distortions until the middle of this month For now we re guessing that the trend in layoffs is flat to slightly downwards Ian Shepherdson of Pantheon Macroeconomics said in a research note A year ago new claims for jobless benefits stood at 372 000 The US unemployment rate fell to a five year low of 7 0 per cent in November amid a pick up in job creation as the economy recovers from the 2008 2009 downturn Print this page Related

    Original URL path: http://www.businessspectator.com.au/news/2014/1/3/us-economy/us-jobless-claims-fall (2014-01-12)
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  • Wall Street closes weaker | Business Spectator
    for Scotland the brave The economic case for Scottish independence is far from settled with doubts hanging over volatile oil prices and uncertainty over future revenues One thing is certain it would be a disaster for Britain Technology NBN Buzz Mobility BYOD Smart Devices Emerging Tech Applications Big Data Cloud Computing Data Management Reviews Social Media Start ups Security Data Security Identity Management Wireless Security Telecommunication Latest stories Google v Facebook Who knows wins The unparalleled Google Analytics service means Google knows more about internet users than anyone else And runner up Facebook must go further 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 Wall Street closes weaker 3 Jan 8 41 AM Economy Global News US Economy Markets Financial Markets US stocks start the new year in the red as investors take the opportunity to book profits after solid gains in 2013 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 United States stocks have kicked off the new year in the red falling decisively in a selloff that analysts chalked up to profit taking following solid gains in 2013 At the closing bell on Thursday the Dow Jones Industrial Average fell 134 99 points 0 81 per cent to 16 441 67 The broad based S P 500 declined 16 35 0 88 per

    Original URL path: http://www.businessspectator.com.au/news/2014/1/3/financial-markets/wall-street-closes-weaker (2014-01-12)
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  • Obama signs bipartisan US budget deal | Business Spectator
    must go further 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 Obama signs bipartisan US budget deal 27 Dec 2013 11 59 AM Economy Global News US Economy Agreement means end to fiscal brinkmanship for at least two years 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 AP US President Barack Obama has signed a bipartisan budget bill easing automatic spending cuts over two years marking a modest end to a challenging year Obama signed the bill on Thursday while vacationing in Hawaii The deal reduces across the board cuts already scheduled to take effect restoring about US63 billion A71 04 billion over two years It includes a projected US85 billion in other savings It s not the grand bargain that Obama and congressional Republicans once had wanted but it ends the cycle of fiscal brinkmanship for now by preventing another government shutdown for nearly two years The bill signing marks one of Obama s last official acts in a year beset by the partial government shutdown a near default by the Treasury a calamitous healthcare rollout and near perpetual congressional gridlock 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

    Original URL path: http://www.businessspectator.com.au/news/2013/12/27/us-economy/obama-signs-bipartisan-us-budget-deal (2014-01-12)
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