Investors should heed conflicting economic signals. If they had predicted last week where the next negative sign was coming from, many would have said Europe, which is unlikely to emerge from its debt woes without another mini-crisis or two. But it turned out to be the US, where the economy contracted 0.1 per cent in the December quarter, against market expectations of more than 1 per cent growth. Conflicting signals emerged by the end of the week, with revised figures showing the US economy added many more jobs than thought in the December quarter, sending the Dow Jones index above 14,000 for the first time since 2007.Monday, 4 February, 2013, 3:02am
The governing systems of the world's two largest economies are in crisis. As the United States has been grappling with a fiscal cliff, China faces a social cliff. Without major reform, both will falter.4 Feb 2013 - 3:02am
Leung warned of a repeat of the failed "85,000 flats a year" target announced by then chief executive Tung Chee-hwa in 1997. By the time the new flats were ready, he said, the market would have shrunk due to external economic factors, leaving it unable to absorb all the flats.3 Feb 2013 - 5:36am 13 comments
US employment grew modestly last month and gains in the prior two months were bigger than initially reported, supporting views the economy's sluggish recovery was on track despite a surprise contraction in output in the final three months of 2012.2 Feb 2013 - 4:48am
1. Jakarta Globe27 Jan 2013 - 1:51am
A short doodle or squiggle or scribble has set Washington and Wall Street's chattering classes chattering excitedly. The Wall Street Journal and Forbes have run articles about it, and compared the series of linked loops to a scribble by a not very bright bored child, a practice session by the machine that decorates Hostess cupcakes and curly fries that took a curl too far.23 Jan 2013 - 3:55am
Sales of US homes probably rose in December to the highest level in three years as the industry headed toward a more rooted recovery in 2013, economists said before reports this week.23 Jan 2013 - 4:47am
One person's challenge is another's opportunity, or so the saying goes. In the context of property investment, the euro zone's continuing woes seem to augur well for Asia-Pacific markets.
A global research report by real estate services firm DTZ suggests that from an investor's perspective "most Asia-Pacific markets remain attractive", considering the degree of uncertainty elsewhere.23 Jan 2013 - 4:47am
Faster bank credit, money supply growth and rising Treasury yields signal the United States economy is poised to pick up this year even amid the fiscal drag triggered by last month's budget deal, according to MKM Partners.21 Jan 2013 - 3:57am
Tom Donohue, the president of the US Chamber of Commerce, said last week that higher taxes and a "flood of new regulations" would damage an already subpar economy.
"In many ways, we're going backwards," he said.
Such complaints, echoed by corporate executives throughout President Barack Obama's first term, obscure one fact: American business has never had it so good.18 Jan 2013 - 5:27am
Warning that the global economy continues to be fragile, the World Bank yesterday sharply cut the growth outlook for this year.
The multilateral bank forecast global gross domestic product this year would edge up to 2.4 per cent from 2.3 per cent in 2012, revised down from the 3 per cent growth it predicted in June.17 Jan 2013 - 3:22am
Lawrence Summers, the former top economic adviser to US President Barack Obama, has said that the yuan is not as undervalued as it was five years ago.
"The renminbi is not saliently, strikingly undervalued in the way it was five years ago," Summers said yesterday at the Asian Financial Forum in Hong Kong.15 Jan 2013 - 5:26am
Li & Fung says net profit for last year will not exceed that of the previous year and core operating profit will in fact drop 40 per cent, worse than analysts' estimates.
"This is worse than I expected. Obviously it's a negative for the company," said Nomura analyst Tanuj Shori.12 Jan 2013 - 4:02am
The looming showdown between President Barack Obama and congressional Republicans over raising the US$16.4 trillion US federal debt limit has made alternatives - including minting a trillion-dollar coin or invoking a constitutional amendment to pay the bills - part of the political debate.
So far, the Obama administration is not participating.10 Jan 2013 - 6:43am
While some Hong Kong and US toy executives see a better outlook for the industry this year, exhibitors at Asia's largest toy fair feel are feeling gloomy.
"This is not a good year. I can feel it. The booths are quiet," said Herman Chan, an exhibitor at the Hong Kong Toys and Games Fair.9 Jan 2013 - 4:08am