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  • US Economy | 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 US Economy The American consumer is back US household consumption is growing at its fastest rate in eight years and as the economy recovers wages should follow Expect a strong 2014 for the US by Callam Pickering 1 48am December 27 23 comments Wall St hits fresh closing highs Better than expected Q3 GDP numbers push Dow Jones S P 500 to new closing records 10 13am December 21 2 comments The US will pay for its short sightedness on debt The US economy has paid a heavy price for Congress obsession with short term debt dynamics The US needs to sort out its finances but slashing non defence discretionary spending is not the answer by Callam Pickering 2 36pm December 20 45 comments The Month Ahead Overseas news will dominate in the coming weeks with US GDP unemployment inflation and retail sales all keenly anticipated Local data on housing and unemployment will also be ones to watch by Elizabeth Redman 10 25am December 20 1 comment Wall Street closes mostly lower US stocks pull back from gains following taper on weak jobs housing numbers 8 19am December 20 US home sales drop Third straight month of falls recorded in existing home sales 2 30am December 20 US jobless claims highest since March Number of people filing for US unemployment benefits climbs again 12 43am December 20 Markets find the virtue in taper s modesty Markets reacted positively to today s tapering announcement with the Fed continuing to pump cheap liquidity into the system in 2014 But concerns remain over the elevation of asset prices and mispricing of risk by Stephen Bartholomeusz 1 21pm December 19 11 comments Taper just the tonic for Australia s ills The Federal Reserve s decision to taper should see the Australian dollar track lower helping to boost competitiveness at a time when exports are set to be a key driver of economic growth by Callam Pickering 9 16am December 19 13 comments US Senate passes budget deal Bipartisan budget accord laying out top line spending limits for next 2 years passes 9 15am December 19 1 comment Scoreboard Taper vapours Tapering may have lifted US stocks but the Federal Reserve will still pump 75 billion into the economy each month by Adam Carr 7 43am December 19 12 comments The risks and rewards in the taper Markets have cheered the Fed s taper decision but dangers lie ahead Investment banks will have to stop gambling with cheap money which is bad news for emerging markets but good news for the US economy by Robert Gottliebsen 7 39am December 19 37 comments US Fed Reserve announces modest taper Central bank says economy has gathered enough

    Original URL path: http://www.businessspectator.com.au/economy/global-news/us-economy?page=1 (2014-01-12)
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  • US Economy | Business Spectator
    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 Economy Obama picks Fed vice chair US President chooses former Bank of Israel boss as deputy to Janet Yellen 10 49pm January 12 1 comment US jobs growth slows sharply Labor Department data misses expectations potentially complicating Fed s tapering plan 12 37am January 11 5 comments Fed s Yellen expects 3 growth Incoming Federal Reserve chief admits recovery frustratingly slow report 12 52am January 10 1 comment US jobless claims dip Further signs of improved labour market with claims lower than forecasts 12 49am January 10 Tinker taper the Fed s cautious path Many within the Fed believe its QE program is becoming less effective as time wears on But future bumps in the tapering process mean it s prudent for the Fed to keep its options open by Callam Pickering 9 35am January 09 8 comments ORIGINAL TEXT Fed minutes The following statement was released by the US Federal Reserve 6 33am January 09 Fed taper due to jobs growth minutes Minutes of board meeting suggest taper support not as strong as thought concerns on inflation rate 6 22am January 09 1 comment US private sector jobs jump Latest report shows December had strongest growth of year tops estimates 1 15am January 09 China doubled US investment in 2013 China s investment in the US doubled to 14bn despite rocky political ties 1 57pm January 08 Fed s loose policy justified Rosengren A top Fed official says weak inflation jobs growth justify continued stimulus 1 32am January 08 US trade gap narrows November deficit the smallest since October 2009 1 25am January 08 1 comment Cold snap hits US retail Retail sales slump in week post Christmas still clear last year s numbers 12 04am January 08 Janet Yellen confirmed as US Fed chair US Senate confirms Obama s nominee in 56 26 vote will assume role on Feb 1 10 39am January 07 2 comments The international economy in 2014 2014 will present brighter prospects for the US and UK although some fiscal adjustment is needed Volatile capital flows will trouble emerging economies and debt forgiveness will be needed for a European recovery by Stephen Grenville 7 42am January 07 20 comments US PMI dips in December December services sector activity was lowest for 2013 3 06am January 07 1 comment US factory orders at record high Highest monthly level since data series began in 1992 3 02am January 07 2

    Original URL path: http://www.businessspectator.com.au/economy/global-news/us-economy?destination=taxonomy/term/2963 (2014-01-12)
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  • Japanese inflation at 5-year high | Business Spectator
    Webinars eBooks Menu Japanese inflation at 5 year high 27 Dec 2013 1 10 PM Economy Global News Asian Economy Key indicator rises at fastest pace in 15yrs but influenced by rising fuel prices 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 Japan s battle against deflation received a boost last month with a key inflation indicator rising at its fastest pace in 15 years new data shows as Tokyo battles to reverse years of falling prices Stripping out volatile food and energy prices which have largely driven recent increases prices inched up 0 6 per cent in November the country s best result since August 1998 The broader consumer price index which measures a basket of everyday goods but excludes the cost of fresh food rose 1 2 per cent last month from a year earlier the fastest pace in five years Prime Minister Shinzo Abe s government has put conquering deflation and stoking growth in the world s third largest economy at the top of its agenda with a policy blitz dubbed Abenomics The upbeat headline for Friday s inflation data was tempered by the fact that prices were still largely driven up by higher fuel bills not surging demand for everyday goods such as vacuum cleaners and clothes which power the economy as a whole Electricity bills jumped a hefty 8 2 per cent the data showed as Japan s energy costs soared in the wake of the 2011 Fukushima atomic disaster which forced the shutdown of the country s nuclear reactors Since the accident Japan has been importing fossil fuels to plug the energy gap a pricey option that has become even more expensive as the yen sharply weakened in the wake of the Bank of Japan s unprecedented monetary easing drive Friday s data showed prices moving towards the BoJ s ambitious two per cent inflation target to be reached in just two years While deflation may sound like a good thing for shoppers it can be bad for growth because falling prices encourage consumers to put off spending knowing they will pay less for a product if they wait That makes it difficult for companies to invest and discourages them from hiking wages which in turn reduces consumer spending further Despite Abe s much lauded start since sweeping general elections a year ago analysts have been warning that Tokyo s bold pro growth program a mix of big government spending and central bank monetary easing is not enough on its own without promised economic reforms And getting Japan s notoriously thrifty households to spend more is a key part of Abe s drive

    Original URL path: http://www.businessspectator.com.au/news/2013/12/27/asian-economy/japanese-inflation-5-year-high (2014-01-12)
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  • Japan drops 'deflation' from report | Business Spectator
    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 Japan drops deflation from report 24 Dec 2013 3 17 PM Economy Global News Asian Economy Economic report omits for first time in 4 years analysts say too soon to call end 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 A Japanese government economic report has dropped the word deflation from the text for the first time in four years but analysts say the battle against falling prices is far from won The cabinet s December report has given an upbeat assessment of the world s third largest economy despite signs in recent months of a slowdown The Japanese economy is on the way to recovery at a moderate pace the report said Private consumption is picking up Prices are holding firm It was the first time the government report had not used the word deflation in its assessment since November 2009 when it acknowledged sustained price falls following the onset of the global financial crisis in 2008 Last month the report noted Recent price developments indicate that deflation is ending Hideki Matsumura senior economist at Japan Research Institute said It s realistic to drop the word from the monthly report as downside price pressure is easing steadily But it is too early to declare an end to deflation It is still uncertain if the two per cent target can be achieved as planned Japan s economy has been on course to recovery responding to a policy blitz by Prime Minister Shinzo Abe that has seen easing and fiscal largesse Reversing years of falling prices is a key plank which analysts say is starting to happen although most agree the target of two per cent inflation within two years is ambitious October figures showed a key inflation indicator rising at its fastest pace

    Original URL path: http://www.businessspectator.com.au/news/2013/12/24/asian-economy/japan-drops-deflation-report (2014-01-12)
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  • Japan approves $60bn stimulus | Business Spectator
    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 Japan approves 60bn stimulus 12 Dec 2013 11 29 PM Economy Global News Asian Economy Cabinet backing for program designed to create over 250 000 jobs 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 Japan s Cabinet has approved billions of dollars of stimulus spending in a supplementary budget meant to perk up a faltering economic recovery and cushion the impact of a sales tax rise next April The Y5 5 trillion A59 49 billion in fresh stimulus approved on Thursday is aimed at creating at least 250 000 jobs and is heavily weighted toward construction projects It also includes Y600 billion A6 5 billion in payments to home buyers and one time payments of Y10 000 A108 per child to low and middle income families Prime Minister Shinzo Abe promised the extra stimulus to counter a 3 percentage point increase in sales tax to eight per cent in April Parliamentary approval of the stimulus in early 2014 is expected since Abe s Liberal Democratic Party and its coalition partners hold majorities in both houses Japan s economy the world s third largest emerged from recession in late 2012 growing at a brisk 4 3 per cent pace in the first quarter of the year However the pace of expansion slowed to 1 1 per cent in the third quarter as corporate investment remained sluggish and exports were sapped by lacklustre growth in emerging economies So far the biggest driver for the recovery has been hefty government spending which is also the type of spending the tax rise is aimed at making up for The economy may get a boost in coming months as consumers speed up major purchases to beat the sales tax rise But the government has forecast a short term contraction in the economy after the higher tax takes effect Another increase in the sales tax of 2 points is expected in 2015 Abe appears to have forced Japan out of its deflationary rut with a growth strategy centred on pumping trillions of dollars into the economy through public spending and aggressive monetary easing by the central bank The flood of money has helped weaken the Japanese yen

    Original URL path: http://www.businessspectator.com.au/news/2013/12/12/asian-economy/japan-approves-60bn-stimulus (2014-01-12)
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  • Japan launches $60bn stimulus | Business Spectator
    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 Japan launches 60bn stimulus 5 Dec 2013 11 44 PM Economy Global News Asian Economy New package approved to keep Abenomics momentum going 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 Tokyo has approved a spending package worth Y5 5 trillion A59 75 billion in a bid to offset a tax hike that comes into effect next year and which critics fear will derail Japan s economic recovery The stimulus is loaded with public works spending including construction projects for the 2020 Tokyo Olympics rebuilding coastal communities shattered by the 2011 quake tsunami and updating the country s ageing infrastructure Many of Japan s roads bridges and water systems date back to the 1960s and 70s and have seen few upgrades since The package also includes investment and tax incentives for business low income earner subsidies and assistance for disaster victims The spending is expected to impact the world s third largest economy to the tune of Y18 6 trillion including private sector and local government spending Finance Minister Taro Aso said the government would draft a new budget next week to account for the stimulus package which would not require fresh borrowing The spending should continue to boost Japan s economy beyond next year Aso told reporters on Thursday The move came as concern grows that April s sales tax hike to 8 0 per cent from 5 0 per cent will stall Japan s recovery that has been achieved by a policy blitz launched by Prime Minister Shinzo Abe Economists estimate the impact on households at some 8 0 trillion yen dealing a blow to consumer demand just as the economy is picking up The scheme a mix of government spending and central bank monetary easing has been credited with helping stoke a sharp decline in the yen in turn boosting exporters and stoking the best economic growth among G7 nations in the first half of the year Abe s plan also calls for big reforms in the

    Original URL path: http://www.businessspectator.com.au/news/2013/12/5/asian-economy/japan-launches-60bn-stimulus (2014-01-12)
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  • Aust, South Korea ink FTA | Business Spectator
    will see the delivery of a key election commitment the prime minister said The deal will also provide new opportunities in Korea for Australian services in education telecommunications and financial accounting and legal services the prime minister added in a statement Modelling shows the agreement will be worth 5 billion between 2015 and 2030 by which time agricultural exports to Korea will be 73 per cent higher the prime minister said The agreement will come into operation after domestic approval processes in Australia and Korea Negotiations for the South Korea deal commenced under Labor in March 2009 It is one of three FTAs Mr Abbott has pledged to secure in his first 12 months as prime minister He also hopes to sign agreements with Japan and China Opposition leader Bill Shorten said Australia and Korea were strong friends during both war and peace as they shared common values and interests He said the FTA presented significant opportunities for Australia including boosting economic growth creating more competitive industries and providing consumers with access to goods and services at lower prices The pursuit of these objectives drives Labor s support for a more open global trading system Mr Shorten said He requested that senior government officials soon provide a briefing to the opposition and that the government release details of the agreement at the earliest possible time so it can be reviewed and assessed Print this page Related articles 07 Jan The international economy in 2014 27 Dec Japanese inflation at 5 year high 24 Dec Japan drops deflation from report 12 Dec Japan approves 60bn stimulus 05 Dec Japan launches 60bn stimulus 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 Grant Mason Thu 2013 12 05 14 46 A bunch of Rah Rah news grab What are the details It was all about what Australia had to gain what about what South Korea had to gain They probably will get the exemption on the 5 tariff on automobiles so good for Hyundai Next Japan will want this and it will help bring down the price of new autos and make life more difficult for the subsided foreign auto manufacturers in Australia Speaking about tariff on automobiles What is the total the government gains from this a year and how much do they give the domestic car manufacturers R Ambrose Raven Thu 2013 12 05 15 34 Another sellout It s quite simple Abbott Climate Change is Crap the Hun is determined to sell us out in the end if you can come to a deal everyone is better off Our objective is ever freer ever more liberal trade not just in goods but in services as well A typical evil Rabid Right untruth certainly not something the Americans Koreans or Chinese practice regarding agricultural subsidies and tariffs generally Note the denial of the cost to a small open economy of not having an effective and socio economic strategy with an interventionist industry policy especially given such universal problems Will the Korean free trade agreement include any prohibition on us doing so Too ruddy right Robb will have made sure of that AUSFTA amongst others has forbidden our governments to operate an effective industry policy forbidden to give local preference forbidden to require local content and forbidden to protect infant Australian firms being poached by foreign transnationals Worse the deliberate depreciation of other currencies such as the US and means that AUSFTA far from being a trade benefit is a mechanism that is quite literally destroying our industries to the economic benefit of the United States Will the Korean free trade agreement include any safeguard against that Not ruddy likely Financial impacts of a FTA TPP will be much larger usually damaging for services and non traded goods than in the minor benefits that may accrue to physical goods exporters e g agriculture or mining In its opposition to the TPP s investment chapter which enables companies from one country to take legal action against the government of another country for alleged breaches of the agreement the Gillard government was indeed acting in the national interest Never fear Abbott the Hun will put paid to that sort of nonsense We can be confident that the Korean free trade agreement will have one As we saw with the mining boom class traitors such as Gary Gray Kevin Rudd and Martin Ferguson have been utterly determined to ensure that Australia and Australians benefit as little as possible from the mining boom They and Robb and Abbott now have been very largely successful Graham Lovell Thu 2013 12 05 15 56 Let us hope that the Federal government is not selling manufacturing down the drain with this Free Trade Agreement We await the details All we know is that Australia manufacturing cannot survive without some measure of protection How can it compete with low cost wages in Asia combined with a high dollar as a result of our very successful export sectors which generally do not provide much employment For those who think that services will provide the escape route for our employment troubles think again As an example I can get some IT services from the US at 25 of the cost in Australia The same will soon apply to outsourcing from Asia and we will soon need an overseas outsourcing tax in the place of the employment destroying state payroll taxes The Coalition is right to get rid of the anti employment carbon tax Even if we want to price carbon we don t have to implement a scheme that is anti employment For example we could adopt a rebatable carbon levy instead http australiancarbonprice blogspot com au 2013 11 rebatable carbon levy html However this only the beginning of the reforms required to push down manufacturing costs in Australia While it is a

    Original URL path: http://www.businessspectator.com.au/news/2013/12/5/asian-economy/aust-south-korea-ink-fta (2014-01-12)
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  • India figures lift economic optimism | Business Spectator
    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 India figures lift economic optimism 4 Dec 2013 2 01 AM Economy Global News Asian Economy Improved current account number follows news of rising growth rate 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 India s current account deficit the broadest measure of trade has narrowed to its lowest quarterly level in four years fuelling optimism that Asia s third largest economy is on the mend The deficit slid to US5 2 billion A5 73 billion or 1 2 per cent of gross domestic product in July September compared to US21 0 billion A23 13 billion or five per cent of GDP in the same period last year said the Reserve Bank of India central bank India s current account deficit is adjusting at a faster pace than expected by markets said Siddhartha Sanyal chief India economist at Barclays Capital The drop in the quarterly deficit to its lowest level since March 2009 was mainly due to rising exports and falling imports particularly of gold the central bank said in a statement India the world s largest buyer of gold has introduced strict measures to constrain imports of the yellow metal to lower its current account deficit which hit a record US88 billion in the fiscal year to March 2013 The government has repeatedly raised import duties on gold which is the second biggest contributor after oil to India s deficit The high deficit had raised worries about a balance of payments crunch and put pressure on the rupee which lost nearly a fifth of its value against the dollar earlier in the year before retracing some of its losses The latest deficit number provides comfort said Shubhada Rao chief economist at private Yes Bank Finance Minister P Chidambaram has said he is confident the current account deficit during the fiscal year 2013 14 will be contained at 4 8 per cent of GDP But Rao said she was forecasting a current account deficit of around 2 7 per cent of GDP for the fiscal year ending March India last week posted stronger than expected economic growth of 4 8 per cent year on year for the second financial quarter to September thanks to robust farm output

    Original URL path: http://www.businessspectator.com.au/news/2013/12/4/asian-economy/india-figures-lift-economic-optimism (2014-01-12)
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