Economy
Fujii Says He'll Contact U.S., Europe on Currencies If Needed as Yen Jumps Japanese Finance Minister Hirohisa
Fujii said he may contact U.S. and European officials to act on
currencies, amid concern the yen’s surge to a 14-year high will
hamper the economic recovery.
European Economic Confidence Climbs to Highest Level Since Lehman Collapse European confidence in the economic
outlook improved in November to the highest since the collapse
of Lehman Brothers Holdings Inc., suggesting the recovery in the
16-nation euro region is gathering strength.
Spain's Almunia, France's Barnier, Finland's Rehn Get Top EU Economy Jobs European Economic and Monetary
Affairs Commissioner Joaquin Almunia, a Spanish Socialist known
for tackling countries’ deficits, will be antitrust chief in
the next European Commission, succeeding Neelie Kroes.
Fed, Treasury Examiners Faulted in Watchdog Reports on U.S. Bank Failures Treasury Department and Federal
Reserve examiners should have done more to halt risky lending at
U.S. banks that failed amid real-estate losses, reports by
agency watchdogs show.
Japan Consumer Prices Fall Near-Record 2.2%, Reinforcing Deflation Concern Japan’s consumer prices fell at a
near record pace in October, reinforcing the government’s
concern that deflation will hamper the economy’s recovery from
its worst postwar recession.
Dubai Shows Limits of Government Bailouts for Markets, Roubini's Das Says The worldwide decline in equities
spurred by Dubai’s efforts to reschedule its debt is a sign that
government spending alone won’t be enough to protect financial
markets, according to Arnab Das of Roubini Global Economics.
Japan Focusing on Yuan-Yen Rate Rather Than Dollar Level, Citigroup Says Japanese officials are more likely
focused on the exchange rate of the yen versus China’s yuan
rather than against the dollar, according to Citigroup Inc.,
citing the fact that China is Japan’s biggest trading partner.
EU Exports to China Dropped 5.3% in First Half as Euro Gained Against Yuan European exports to China, the
world’s fastest-growing major economy, fell 5.3 percent in the
first half of the year as the euro’s appreciation made the goods
from the region less competitive abroad.
Lithuania Won't Risk `Killing' Economy to Meet Euro Terms, Kubilius Says Lithuania won’t adhere to a
“painful” euro adoption schedule that would quell demand and
hurt the economy, Prime Minister Andrius Kubilius said.
China's Politburo Pledges to Maintain Monetary, Fiscal Stimulus Next Year China’s Politburo, the Communist
Party’s top decision-making body, said the nation will maintain
stimulus policies next year as the world’s third-biggest economy
recovers from the global slump.
Fed, Treasury Examiners Faulted in Watchdog Reports on U.S. Bank Failures Treasury Department and Federal
Reserve examiners should have done more to halt risky lending at
U.S. banks that failed amid real-estate losses, reports by
agency watchdogs show.
Fed Officials Said Low Rates May Fuel `Excessive' Speculation, Minutes Say Federal Reserve officials said
record-low interest rates might fuel “excessive” speculation
in financial markets and possibly dislodge expectations for low
inflation, according to minutes of their meeting released today.
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