Growth in Developed Economies Slowed in Third Quarter, OECD Says

Economic growth in developed countries slowed in the three months to September, but remains on course for a pickup in 2017 overall. The Organization for Economic Cooperation and Development said Monday the combined economic output of its 35 members was 0.6% higher in the third quarter than in the three months through June. This was a slowdown from the 0.8% growth recorded in the second quarter…

German growth data boosts euro; World stocks, oil prices fall

NEW YORK (Reuters) – The euro was set for its strongest session in more than four months on Tuesday, boosted by strong economic growth in Germany, but world stocks fell for the fourth straight day as oil prices fell and investors worried about U.S. tax reform. U.S. Treasury two-year note yields climbed to a nine-year peak while long-dated debt yields fell, flattening the yield curve flattened for a second straight day, while investors braced for a Federal Reserve December rate hike…

China media praises tone, outcome of Trump-Xi summit

BEIJING (Reuters) – U.S. President Donald Trump lauded his Beijing meetings on trade and North Korea as “very productive”, ending a visit which Chinese media declared set a “new blueprint” for handling ties, even as the White House looks set for tougher action on China. Trump pressed China to do more to rein in North Korea’s nuclear ambitions and said bilateral trade had been unfair to the United States, but also praised Xi’s pledge that China would be more open to foreign firms…

China lifts foreign ownership limits on financial firms

BEIJING (Reuters) – China will raise foreign ownership limits in financial firms in a step granting access to a tantalizing multi-trillion dollar financial services market, as the world’s second-biggest economy seeks to position itself as a major global finance hub. The move, announced on Friday by vice finance minister Zhu Guangyao, comes a day after U.S. President Donald Trump reiterated calls for better access to Chinese markets in meetings with Chinese President Xi Jinping…

Trump faces Asian leaders on trade deficit

President Trump hates trade deficits — and he’s visiting a region where the U.S. has a lot of them. The U.S. runs deficits with all five countries where Trump is spending time on his lengthy tour of Asia, including particularly big ones with China and Japan. Experts say Trump’s fixation on trade balances as a way of viewing economic ties between countries is misplaced and risks undermining the broader relationships. But that’s not stopping him from complaining about the issue during his Asia trip…

Trump’s planned tax cuts lift world stocks, dollar strengthens

NEW YORK (Reuters) – World stocks climbed, along with the U.S. dollar and bond yields on Friday, as investors anticipated President Donald Trump could make progress on his fiscal plans after the U.S. Senate approved a budget blueprint that paves the way for tax cuts.
U.S. Republican Senator Rand Paul appeared to back the administration’s sweeping tax cut plan, saying he was “all in” for massive tax cuts, even as the Senate passed a key budget measure without his support one day earlier…

China third-quarter GDP growth slows as expected, property measures bite

BEIJING (Reuters) – China’s central bank chief on Thursday issued a stark warning about asset bubbles in the world’s second-largest economy, which looks set to clock its first acceleration in annual growth since 2010, driven by public spending and record bank lending. Speaking on the sidelines of the closely-watched, twice-a-decade Communist Party Congress, People’s Bank of China Governor Zhou Xiaochuan spoke of the risks of a “Minsky moment” in the economy, referring to a sudden collapse in asset prices after long periods of growth, sparked by debt or currency pressures…

China economy shows solid momentum as party meets, but property curbs bite

BEIJING (Reuters) – China’s central bank chief on Thursday issued a stark warning about asset bubbles in the world’s second-largest economy, which looks set to clock its first acceleration in annual growth since 2010, driven by public spending and record bank lending. Speaking on the sidelines of the closely-watched, twice-a-decade Communist Party Congress, People’s Bank of China Governor Zhou Xiaochuan spoke of the risks of a “Minsky moment” in the economy, referring to a sudden collapse in asset prices after long periods of growth, sparked by debt or currency pressures…

China’s Xi says anti-graft campaign has ‘overwhelming momentum’

BEIJING (Reuters) – Chinese President Xi Jinping on Wednesday laid out a confident vision for a more prosperous nation and its role in the world, stressing the importance of wiping out corruption and curbing industrial overcapacity, income inequality and pollution. Opening a critical Communist Party congress, Xi pledged to build a “modern socialist country” for a “new era” that will be proudly Chinese and steadfastly ruled by the party but open to the world…

Wall Street hits record highs, dollar edges up on upbeat Chinese data; oil prices jump

NEW YORK (Reuters) – World stocks rose on Monday, boosted by upbeat Chinese data, while oil prices jumped as an escalation in fighting between the Iraqi government and Kurdish forces threatened supply. Asian shares rallied to a decade high after figures showed China’s producer prices beat market expectations to rise 6.9 percent in September from a year earlier….

Exclusive: U.S. warship sails near islands Beijing claims in South China Sea – U.S. officials

WASHINGTON (Reuters) – A U.S. Navy destroyer sailed near islands claimed by China in the South China Sea on Tuesday, three U.S. officials told Reuters, prompting anger in Beijing, even as President Donald Trump’s administration seeks Chinese cooperatio…

China shares hit 21-month high; Turkish lira takes a dive

LONDON (Reuters) – World shares rose on Monday, with Chinese stocks hitting 21-month highs and the German index setting a new record, while political uncertainty triggered big moves in sterling, the Turkish lira and Spanish debt. Wall Street looked set to open higher, with e-mini futures on the S&P 500 index ESc1 up 0.2 percent and signaling a rebound from Friday’s fall after six days of gains…

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