Economy News Headlines

By Stanley White TOKYO (Reuters) - The Bank of Japan vowed on Wednesday to take necessary steps to reduce volatility in bond markets that has threatened to jeopardize the government's fight to end deflation and revive growth. The central bank upgraded its assessment of the economy for a fifth straight month, saying it "has …

LILONGWE (Reuters) - Malawi's luxury presidential jet, bought by late leader Bingu wa Mutharika, has been sold for $15 million to raise cash for the impoverished African country, a government official said on Wednesday. Mutharika, who left the economy on the brink of collapse after he picked a fight with donors whose support …

BANGKOK (AP) — The price of oil fell Wednesday as investors waited for a report on U.S. crude stocks and the Federal Reserve's latest views on the U.S. economy.

LILONGWE (Reuters) - Malawi's luxury presidential jet, bought by late leader Bingu wa Mutharika, has been sold for $15 million to raise cash for the impoverished African country, a government official said on Wednesday. Mutharika, who left the economy on the brink of collapse after he picked a fight with donors whose support …

LONDON (AP) — The Bank of England's policymakers remain divided on whether to provide more stimulus to the flat-lining economy, according to the minutes of their meeting in May.

By Olesya Dmitracova and Christina Fincher LONDON (Reuters) - British retail sales dropped at their sharpest pace in a year last month, a reminder of weakness in the country's economy after some recent signs of recovery. Sales of food plunged 4.1 percent from March, the worst showing in almost two years. As the government …

BANGKOK (AP) — World stock markets were mixed Wednesday, hours before Federal Reserve chairman Ben Bernanke is to deliver remarks before Congress on the state of the U.S. economy.

By Richard Hubbard LONDON (Reuters) - The dollar and benchmark German debt yields eased on Wednesday as expectations hardened that the head of the U.S. central bank will later in the day signal no tapering back of its ultra-loose monetary policy. Two senior Federal Reserve officials struck a dovish tone on the economy in …

JOHANNESBURG (Reuters) - South Africa's Massmart Holdings said on Wednesday it expects lacklustre sales growth this year, as the unit of Wal-Mart Stores Inc battles with weak consumer demand in Africa's top economy. Massmart, majority owned by the world's largest retailer, said comparable store sales increased by 5.6 percent …

By Nick Macfie ISLAMABAD (Reuters) - China and Pakistan should make cooperation on power generation a priority, Chinese Premier Li Keqiang said, as Islamabad seeks to end an energy crisis that triggers power cuts of up to 20 hours a day, bringing the economy to a near standstill. Li arrived in the Pakistan capital under …

TOKYO (AP) — A steady decline in the yen is proving a godsend for exporters such as Toyota and has won solid support from Japan's main trading partners, who are betting the impact on their own currencies will be offset by gains from a recovery in the world's third-largest economy. It's not such good news for entrepreneurs …

By Camillus Eboh LAGOS (Reuters) - Nigeria will begin investing the initial $1 billion allocated to a new sovereign wealth fund by June, a statement from the fund showed, after it delayed the start date twice. Africa's biggest oil producer is one of only three OPEC member states that do not yet have a wealth fund (SWF) …

NAIROBI (Reuters) - The average price of Kenya's top grade Broken Pekoe Ones tea rose for the first time in four weeks, nudging higher to $3.27 per kg at auction from $3.26 at the previous sale, trader Africa Tea Brokers (ATB) said on Tuesday. The east African economy is the world's leading exporter of black tea, which …

TOKYO (AP) — Japan's central bank says the world's third-biggest economy is "picking up" as demand recovers in other countries and remains resilient at home, though the trade deficit widened in April, for the tenth straight month.

BANGKOK (AP) — The price of oil fell Wednesday as investors waited for a report on U.S. crude stocks and the Federal Reserve's latest views on the U.S. economy.

BANGKOK (AP) — Asian stock markets were mostly higher Wednesday after investor confidence was boosted by a Federal Reserve official's comments that the U.S. central bank should stick with its super-easy monetary policy.

WASHINGTON (AP) — When Ben Bernanke testifies about the U.S. economy Wednesday, the Federal Reserve chairman's words will be examined for any clues that the Fed might soon taper — or increase — its support for the economy.

By Tetsushi Kajimoto TOKYO (Reuters) - Japan's exports rose less than expected in April from a year earlier due to weak demand from Europe and China, highlighting the challenges confronting the world's third-biggest economy as policymakers try to engineer a sustained revival. The 3.8 percent annual increase in exports in …

By Leila Lemghalef MONTREAL (Reuters) - Europe could face a decade of stagnation unless it makes big reforms and it should heed the lessons of Japan, Bank of Canada Governor Mark Carney said on Tuesday as he highlighted Japan's bold moves to bolster growth. In his final speech as Canadian central bank chief before he takes …

By Conor Humphries and Padraic Halpin CORK/DUBLIN (Reuters) - Ireland said on Tuesday it was not to blame for Apple Inc's low global tax payments and had no special rate deal with the company after the U.S. Senate said it paid little or no tax on tens of billions of dollars in profits stashed in Irish subsidiaries. The …

PARIS (AP) — The man charged with reviving France's shrinking economy and attracting businesses to invest here is gaining a reputation for doing the opposite.

By John Tilak TORONTO (Reuters) - Canada's main stock index jumped more than 1 percent to hit nearly a two-month high on Tuesday, fueled by gains in most major sectors and optimism following positive economic data from Europe. British inflation fell twice as fast as expected last month, giving incoming Bank of England Governor …

By Stephanie Nebehay GENEVA (Reuters) - The H7N9 virus appears to have been brought under control in China largely due to restrictions at bird markets, but caused some $6.5 billion in losses to the economy, U.N. experts said on Tuesday. Health authorities worldwide must be on the lookout to detect the virus, the experts …