Wall Street Journal (Economy)
Keep the Champagne on Ice
Jean-Claude Trichet has raised his forecast for growth in the EU area for the rest of this year from 1.0% to 1.6%. But Europeans should not uncork the champagne just yet.
BIS Questions Growth Tradeoff
Sustained debt reduction need not be a cause of weaker growth in the aftermath of a crisis, as long as policy makers fix the problems that caused the turmoil in the first place, the Bank for International Settlements said.
As Gold Climbs, So Do the Deals
Gold prices are edging up toward a high, at $1,249.20 an ounce, triggering multibillion-dollar deals by miners doubling down on the staying power of bullion's nearly decadelong rally.
Obama to Link Tax Cuts, Hiring
The Obama administration is moving toward using the revenue from expiring tax cuts for the wealthy to finance about $35 billion of tax cuts for small businesses and workers.
Seven Careers in a Lifetime? Think Twice
A belief that Americans will average seven careers over their lifetimes has gained traction despite little evidence, say researchers.
Jobs Data Provide Hope
The U.S. economy lost jobs for the third month in a row in August, but modest hiring by the private sector eased concerns of a double-tip recession.
Brazilian Economy Expands Robustly
Brazil's economy maintained its torrid pace of growth in the second quarter, continuing a boom in Latin America's largest economy despite a series of interest rate hikes.
Economists Grapple Over Job Creation
Washington's response to the country's stubbornly high unemployment rate will depend in part on who wins an increasingly intense debate over its causes.
U.S. Private Sector Adds 67,000 Jobs
The U.S. economy lost 54,000 jobs in August as census workers continued to exit payrolls, but the private sector added 67,000 jobs. The unemployment rate rose to 9.6%.
Japanese Capital Spending Slips
Capital spending by Japanese businesses slipped during the quarter ended June, but inventory investment surged, suggesting the government will revise upward its GDP growth estimate for the quarter.
U.K. Services Growth Slows
The U.K.'s economic recovery showed further signs of losing steam as data showed a sharp slowdown in growth in the country's dominant services sector.
Putin Extends Wheat-Export Ban
The Russian prime minister's move helped push up the price of wheat and sparked fears of supply shortages and broader unrest over rising food costs.
Euro-Zone Retail Sales Rise
Retail sales in the 16 countries that use the euro rose more than expected in July in a fresh sign that consumer demand is helping drive economic growth.
ECB Dismisses Double Dip
The European Central Bank raised its central forecast for 2010 economic growth in the euro zone after leaving its benchmark interest rate unchanged at a record-low of 1%, as expected.
Bernanke Defends Record On Lehman
Fed chief Ben Bernanke told a panel that he had no options to prevent Lehman Brothers' failure in September 2008 even though he knew its downfall would be "catastrophic."
U.S. Officials Head to Beijing
U.S. National Economic Council Director Lawrence Summers and Deputy National Security Adviser Thomas Donilon will travel to Beijing this weekend for high-level talks as the U.S. and China work to iron out tensions on issues ranging from currency policy to military ties to Iran.
Euro-Zone Growth Jumps
The strongest rise in consumer spending since the start of the financial crisis helped drive the euro zone's strong growth in the second quarter.
New Jobless Claims Decline
Fewer workers filed new claims for unemployment benefits last week, the second week in a row such claims declined and a rare bright spot in an otherwise grim job market.
Lobbying on New Finance Rules
U.S. firms eager to shape new financial regulations have wasted no time in lobbying the Federal Reserve and other agencies, according to details from the central bank.
Swiss Economy Shows Growth
Swiss gross-domestic-product growth accelerated in the second quarter to hit its highest growth rate in 2½ years, setting the stage for another strengthening of the Swiss franc.
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