China Sees Greater Stability
Figures show that China’s economy had greater stability in May, following the government’s announcement of more stimulus measures, but the housing market is less stable.
Oil Hits Nine Month High
With the continuing violence in Iraq, the price of oil hit a nine month high this morning, following President Obama’s warning the US would consider military action.
New Zealand Surprises Markets with Rate Rise
The Reserve Bank of New Zealand increase interest rates Thursday, for the third time this year.
Canada’s Housing Market Increasing Inequality Says OECD
A new report from the Organization for Economic Co-Operation and Development says that Canada’s overheating housing market is increasing inequality.
Goldman Sachs to Miss Out on Alibaba Windfall
Goldman Sachs usually have Midas touch when it comes to investments and certainly turning $3.3 million into $22 million within 5 years is nothing to be ashamed of. However, had the US financial powerhouse held onto their stake in Chinese e-commerce group Alibaba, they could have been looking at a return in the region of $90 million.
BNP Paribas Boss to Go
The COO of BNP Paribas, Georges Chodron de Courcel, is to retire this fall and will stand down from his role in three weeks time.
Oil Price Has Been Good For OPEC
The OPEC countries have enjoyed the price of oil of late, and would certainly benefit from any further rises. Iraq ‘s output in the last few years has risen by almost a quarter but some other non-OPEC nations such as Iran and Nigeria have been hit by political issues.
Global Economy Threat from Iraq Crisis
With tensions in Iraq which could lead to civil war threatening to cause oil supply disruption, the value of crude rose this morning.
UK Unemployment Falls
The latest unemployment figures released by the UK government, show a drop of 161,000 in the three months to April, with the total now at 2.16 million or 6.6%.
Don’t Dodge Spending Says Former Canadian Bank Chief
A former governor of the Bank of Canada, David Dodge, says that governments shouldn’t be preoccupied with cutting spending to balance the budget.