External trade data from major economies such as Germany, France and UK are expected from Europe. The trade surplus in Germany is forecasted to fall in May, while the trade deficit is France is predicted to widen and UK's deficit is expected to narrow. The day's news flow is set to start at 2.00 am ET with the release ... [full story]
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The Bank of England was widely expected to leave British interest rates unchanged at 5.0 percent on Thursday as it seeks to tackle both soaring inflation and slumping economic growth, analysts said. While Britain's economy was in desperate need of a rate cut to boost growth, the BoE must sit tight because of higher inflation caused by record-high oil ... [full story]
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The best outcome for the administration is that Fannie and Freddie manage to issue new stock and the balance-sheet fears subside. But if capital raises don't get done at the right size, the administration might have to do something drastic like take over Fannie and Freddie. This list is starting to get pretty long. Nationalize Freddie and Fannie. Nationalize ... [full story]
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Roommate Trouble: Tyler Cowen weighs in on the vexing problem of how two roommates should decide who gets the nicer room. The reader who asks the question says he and his roommate are looking to do it fairly, without resorting to “crass” cash transfers. The reader makes several suggestions: “1. Bid on the good room with chores (meaning the person ... [full story]
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China’s five-star factory is not somewhere you would want to stay overnight, says Alexandra Harney in ‘The China Price: The True Cost of Chinese Competitive Advantage’ (www.penguin.com). “There are footprints on the walls. It’s poorly lit, with low ceilings and slippery floors…” If that was five-star, Harney is curious on seeing the one-star type. “Though they often sit just ... [full story]
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The Ministry of Economic Affairs (MOEA) has decided to expand the scale of the special loans for the purchase of energy-saving equipment by domestic enterprises to NT$50 billion, up from existing NT$10 billion, in addition to giving them 2% interest subsidy for the loans for three years. In addition, the National Development Fund, under the Executive Yuan (the Cabinet), ... [full story]
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The past few weeks have seen exhaustive, even exhausting, analysis of the economic situation here at home. But most of it is from the supply side, i.e. not from the side that talks of what is happening at the actual household level. While it is good sound economic analysis, in a country as diverse as ours in terms of ... [full story]
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Economics correspondent Stephen Long joins me with more on the surging price of oil. Stephen, what's the latest? STEPHEN LONG, ECONOMICS CORRESPONDENT: Oil is surging ahead again, Virginia. It topped US$142 a barrel in trade this evening in New York, hitting a high of $142.26 and naturally enough, the markets were pretty nervous and jittery. There were falls ... [full story]
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As Brian Burke was preparing to become general manager of the Vancouver Canucks in the spring of 1998, many NHL executives urged him to wait for a more stable opening. The nay-sayers had nothing against the Canucks as an organization. Rather, the concerns centered on Vancouver being one of the league's six Canadian franchises economically handcuffed and competitively stifled ... [full story]
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Thursday, economic data due from major European economies include German import price inflation, which is predicted to rise further in May. Further, Eurozone M3 money supply is due during the day, that is expected to slow in May. The day's session will start at 2.00 am ET with the release of the import price data for May from Germany's ... [full story]
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Who let the economists out of the closet? As anyone who has followed economic research over recent years will have noticed, the profession has undergone a major shift in focus over recent decades. In the 1980s, most articles in the leading journals dealt with issues such as tariffs, inflation, growth and wages. Today, many economists are exploring corruption, happiness, drugs ... [full story]
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The Ministry of Economic Affairs (MOEA) is scheduled to announce relaxation of the existing restrictions on investments by local enterprises in China in July, including the exclusion of the acquisition of Chinese enterprises from the calculation of their Chinese investment value, said Yiin Chii-min, economics minister yesterday (June 23). Yiin noted that domestic enterprises with book value exceeding NT$20 ... [full story]
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Are we heading back to the 1970s? It all depends. As with The Hitchhiker's Guide to the Galaxy (a relic of the 1970s), the answer cannot be understood without, first of all, understanding the meaning of the question. I went to a 1970s-themed party last year, an inevitable consequence of being in my mid-forties. The guests mostly came in ... [full story]
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The Grit Green plan is a blatant tax grab based on "crazy economics," Prime Minister Stephen Harper said yesterday. Just moments after Stephane Dion unveiled a radical "green shift" carbon tax plan, Harper said the platform proves the Liberal leader can't be trusted to keep his word. The climate change proposal comes after Dion spent months crisscrossing the country ... [full story]
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Friday, the European session will start with German producer price inflation data, which is expected to rise in May. Another major report is from Switzerland, where producer and import price inflation is projected to pick up from prior month. At 2.00 am ET, producer price inflation report is slated to be released from Germany. The Federal Statistical Office will ... [full story]
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Good morning class, and welcome to Dr. Bob's quiz in Contemporary Culture. Here are today's essay subjects: ECONOMICS/ETHICS 101: The University of Kentucky's board of trustees eliminated 188 positions, froze the pay of remaining faculty and staff -- and then voted to give President Lee Todd a $95,000 bonus to increase his total compensation to almost $550,000. Todd ... [full story]
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Always one of the big names of British higher education, the LSE was second only to Harvard University in The Times Higher Education/QS world rankings for social science in 2005 and only one place lower since then. Now it is planning 20 per cent more places, having seized the chance to tackle a longstanding shortage of teaching space by ... [full story]
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Many household budgets are feeling the impact of high gasoline prices. Imagine if you ran a power plant. Two reports released on Tuesday make the case that alternative forms of energy--everything from plug-in hybrid cars to solar power plants--are becoming more cost-competitive with fossil fuels. Clean-energy research firm Clean Edge, in a report done with nonprofit Co-op ... [full story]
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Economics Minister Michael Glos (CSU) [Christian Social Union] rejects state intervention to lower gas prices. Even if the gas price being tied to the oil price were abolished, gas would be expensive, Glos told the magazine Wirtschaftswoche according to an advance report. "The oil price link is primarily regulated in international delivery contracts between foreign gas producers and German importers. ... [full story]
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At the beginning of the second full week of the general election contest, Senator Obama delivers a message about competitiveness in Flint, Mich., a city known for economic hardship. Later he’ll hold a rally in Detroit. Chris Christoff of the Detroit Free Press previews both events, which are meant to help Mr. Obama reach out to working-class Americans. ... [full story]
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The steep rise in inflation triggered by an unprecedented rise in the international price of crude oil and global food shortages presents an extraordinary challenge, which needs to be addressed by summoning the nation’s collective genius and resources in a bipartisan spirit. While contentious discourse and democratic politics have become inseparable, we can still hope to wrest our democracy in ... [full story]
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Supply and demand, price elasticity and marketing strategy. Those are basic economic concepts that affect the decisions everyone makes. But not everyone understands what the concepts mean. For the past nine years, the Maui Economic Development Board has been trying to fix that — with an Economic Literacy Program that trains teachers in basics of economics to use what ... [full story]
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In recent weeks, The Republic's Editorial Board has been expressing its concern about the revival of Marxism on various fronts, most notably within the ranks of the Tucson Unified School District, but also with the alleged "connections" between former radical Bill Ayres and Sen. Barack Obama. Here's a thought: 30 years of supply-side "voodoo economics," corporate globalization, rampant deregulation ... [full story]
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I'm a former executive professor of finance at the University of Northern Colorado, the business school. It's the only business school to get the Malcolm Baldrige Award of Excellence in the United States, by the way. And I always taught that the premiere example of a windfall profit was the real estate taxes that states and localities charge. A homeowner ... [full story]
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I saw CrowdSpring present at a recent Under the Radar conference I was moderating. I like the service a lot, because it simplifies the process of licensing creative works, and it levels the playing field so anyone can play. What it does, in a nutshell, is let people who need design work done put their requests up on the site. ... [full story]
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UNCW Senior Economics Professor Doctor Woody Hall held an economics forum today. He said that our regions economy is doing better than the rest of the state and the country, but that we could be doing a lot better. He predicts growth will continue in the area but at a slower rate due to gas prices, a rise ... [full story]
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Not so long ago I was driving the outback of Ireland to examine some Stone-Age structures as part of a long-term research project. Despite focusing on the task at hand, it is impossible not to notice the conditions of Irish byways. The main roads are reasonably good, but the lanes are twisting canyons between hedgerows. Most of the latter are ... [full story]
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An injection of cash into the economy from tax cuts should ensure a slowdown rather than a meltdown in the retail sector, a leading economic forecaster says. The retail sector has struggled in recent months amid rising interest rates and cost-of-living pressures, with recent data showing consumer spending has not increased since Christmas. Access Economics, in a report ... [full story]
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It used to be that economics was a subject most students took for the first time in college - and maybe not even as a freshman. Now, students in elementary, middle and high school are learning basic economics concepts and how to apply them. The Mississippi Council on Economic Education spent a day last week at the state ... [full story]
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The shortage of highly-skilled personnel in Russia is one of the major obstacles to economic growth, along with inflation, the economics minister said on Sunday. Speaking at the 12th International Economic Forum in St. Petersburg, now in its third and final day, Elvira Nabiullina said investment and greater labor productivity, which requires highly-skilled workers, are vital to economic growth. ... [full story]
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Not all stairways go to heaven; not all forecasts based on fundamentals come true, e.g. the Indian rupee at 33/$ and oil at $200/barrel? Facts regarding government policy are in short supply. The government of India (GoI) claims that Rs 71,000 crore is needed to pay back the defaulted loans of poor farmers. No independent or quasi independent agency ... [full story]
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ITV News' chief political correspondent Daisy McAndrew has been appointed to the new role of economics editor. McAndrew, who returns from maternity leave next week, will cover economics and business stories across all ITV News programmes, which are made by ITN - with a particular emphasis on News at Ten. With the economy at the forefront of the ... [full story]
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