The world risks sliding into a 1930s-style slump unless countries settle their differences and work together to tackle Europe‘s deepening debt crisis, the head of the International Monetary Fund has warned. On a day that saw an escalation in the tit-for-tat trade battle between China and the United States and a deepening of the diplomatic [...]
Tag: Deficit
December 16, 2011
December 10, 2011
US trade deficit narrows further
9 December 2011 Last updated at 14:49 GMT US imports have stagnated over the last six months The US trade deficit narrowed further in October as imports fell faster than exports, official data has shown. Total exports of $179bn (£115bn) fell 0.8% from September, while imports fell 1% to $223bn, giving a total deficit of [...]
November 29, 2011
Fitch cuts credit outlook for US
28 November 2011 Last updated at 23:11 GMT Failure to agree a deal will trigger some automatic budget cuts Fitch ratings agency has revised its outlook on the US from “stable” to “negative” after a Congressional committee failed to agree deficit cuts. The move “reflects Fitch’s declining confidence that timely fiscal measures will be forthcoming,” [...]
November 23, 2011
Gingrich in TV debate spotlight
23 November 2011 Last updated at 00:45 GMT Mr Gingrich (right) has recently caught up – and passed – Mr Romney in some polls The eight Republican presidential hopefuls are due to lock horns in their 10th TV debate at 2000 EST (0100 GMT). The debate will focus on national security, but questions are likely [...]
November 22, 2011
November 22, 2011
November 22, 2011
November 21, 2011
US defence and welfare cuts loom as ‘super committee’ deadlocked
The bipartisan committee tasked with reducing America’s $15tn (£9.5tn) budget deficit looks close to admitting defeat as its deadline looms. The committee, created in August, has until Wednesday to report a plan to cut $1.2tn from the nation’s deficit. Failure to do so will trigger automatic cuts to defence and social welfare programmes starting in [...]
November 20, 2011
November 18, 2011
Supercommittee failure could trigger US credit downgrade, economists warn
Economists are warning of dire consequences if US politicians fail to make progress this weekend in tense talks aimed at reducing America’s massive deficit ahead of a Wednesday deadline. The bi-partisan congressional super-committee is charged with drawing up plans for a $1.2bn reduction in the nation’s deficit by the middle of next week. Failure to [...]
November 18, 2011
Greece, Italy Struggle with Economic Woes
Greece is predicting that its budget deficit will decrease sharply next year, even as its economy continues to contract and unemployment increases. The interim Greek government unveiled its 2012 austerity budget to Parliament Friday. It says the spending plan must be adopted soon for the country to secure an $11 billion installment from last year’s [...]
November 16, 2011
Republicans Soften No-Tax Pledge to Trim US Deficit
In the U.S. Congress, Republican leaders say they would be willing to break a no-tax pledge as part of a comprehensive deal to reduce America’s massive federal deficit. Signs of possible compromise continue to emerge on Capitol Hill, where a deficit reduction super committee is working to meet a November 23 deadline to shave at [...]
November 15, 2011
Obama Closes APEC, Cites Progress Toward ‘Seamless’ Economic Zone
U.S. President Barack Obama has closed the summit in his home state of Hawaii of the 21 member Asia-Pacific Economic Cooperation (APEC) group. APEC agreed on steps aimed at boosting growth and simplifying trade. Mr. Obama also discussed bilateral issues with China and Iran’s controversial nuclear program. A U.S. statement said leaders agreed on a [...]