Tag Archives: economy

Donald Trump vowed to raise pressure on Iran and cripple its economy. Did it backfire?

Donald Trump vowed to raise pressure on Iran and cripple its economy. Did it backfire?Critics of Donald Trump’s Iran strategy say it has created the current crisis but the administration says Tehran will be forced to negotiate.



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Economy Grows 3.2 Percent During First Quarter, Outpacing Expectations

Economy Grows 3.2 Percent During First Quarter, Outpacing ExpectationsThe economy grew 3.2 percent during the first quarter of this year, beating analysts' and investors' expectations, according to data released Friday by the Bureau of Economic Analysis (BEA).Economists had expected a first-quarter showing of 2.5 percent GDP growth, only slightly higher than the 2.2 percent growth in the last quarter of 2018. Instead, GDP grew 3.2 percent, marking the economy's best first-quarter performance since 2015.The BEA attributed the favorable growth rate to exports as well as better state- and local-government spending. Disposable personal income increased by 3 percent in the first quarter, while prices rose 0.8 percent. Imports sank by 3.7 percent and exports increased by the same amount. At the same time, some potential warning signs also appeared in the report, including a 50 percent drop in the business-investment rate despite 2017's tax cuts.The growth rate also defied expectations that the economy would suffer more seriously from the record-breaking 35-day partial government shutdown earlier this year, as well as fears that global growth was sputtering. President Trump's tariffs on China had particularly worried investors, with even the White House saying that American companies may see their earnings projections take a hit because of them.“It’s not going to be just Apple,” top White House economist Kevin Hassett said in January. “I think that there are a heck of a lot of U.S. companies that have a lot of sales in China that are basically going to be watching their earnings be downgraded next year until we get a deal with China.”



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Hong Kong economy stalls amid trade dispute: finance chief

Hong Kong economy stalls amid trade dispute: finance chiefHong Kong’s economy stalled last year as the ongoing China-US trade dispute and retail woes dragged down local business, the city’s financial chief said Sunday. Beijing and Washington have already imposed duties on more than $ 360 billion in two-way trade, roiling global financial markets and weighing heavily on manufacturing output in both countries. “The impact of China-US trade frictions on Hong Kong’s exports has clearly emerged at the end of last year,” said finance secretary Paul Chan.



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Thai Election Talk Turns to Economy After Princess Shock

Thai Election Talk Turns to Economy After Princess ShockKittiratt Na Ranong, a former finance minister and deputy leader of Pheu Thai — one of several parties backed by Thaksin along with Thai Raksa Chart — said his colleagues are “going forward in full gear” ahead of the March 24 vote. “People across Thailand have been feeling the effect of a bad economy,” he added. Thaksin’s camp is seeking to rally poorer voters who have helped his allies win every election in Thailand since 2001, drawn by policies such as cheap health care and crop price support.



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Pelosi turns nose up at Ocasio-Cortez’s ‘Green dream or whatever’ carbon-neutral economy plan

Pelosi turns nose up at Ocasio-Cortez’s ‘Green dream or whatever’ carbon-neutral economy planNancy Pelosi appeared to poke fun at Alexandria Ocasio-Cortez’s ambitious proposal to create a carbon neutral economy within ten years, referring to the plan as “the green dream or whatever they call it”. The New York congresswoman and senator Ed Markey of Massachusetts, unveiled a proposal termed the Green New Deal, they say will tackle climate change, transform the economy, and create large numbers of jobs in renewable energy. “Even the solutions that we have considered big and bold are nowhere near the scale of the actual problem that climate change presents to us,” Ms Ocasio-Cortez told NPR, ahead of the plan’s unveiling.



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Oil sanctions. Deadly violence. Dire economy. How the Venezuelan crisis could affect US

Oil sanctions. Deadly violence. Dire economy. How the Venezuelan crisis could affect USThe Trump administration’s push to oust Venezuela’s President Nicholas Maduro has wide-ranging implications.



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Economy likely to pick up, though pain may linger for some

Economy likely to pick up, though pain may linger for someBALTIMORE (AP) — The U.S. economy will likely resume its steady growth now that the government has reopened, though economists say some scars — for the nation and for federal workers — will take time to heal.



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Al-Qaeda Hotel Attack Kills 21, Shaking Kenya Economy Pillar

Al-Qaeda Hotel Attack Kills 21, Shaking Kenya Economy PillarUsing hand grenades, automatic rifles and a suicide-bomber, the militants stormed 14 Riverside in Nairobi on Tuesday afternoon, a venue popular with business travelers and Kenya’s elites and home to offices of companies including Pernod Ricard SA and Dow Chemical East Africa Ltd. That precipitated an 18-hour siege around the DusitD2 hotel, which President Uhuru Kenyatta said ended about 9 a.m. Wednesday with the attackers dead. Somalia-based al-Shabaab took responsibility for the assault, the latest in a recent wave of jihadist strikes across Africa, including in Nigeria and Mali, which a loose coalition of African, Western and United Nation troops are struggling to stop. It’s al-Shabaab’s first significant assault in Kenya since it killed 147 people at a northeastern university in April 2015 and echoed a September 2013 attack on Nairobi’s Westgate mall that left 67 dead and rocked the tourism industry.



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Venezuela's Maduro offers few fresh ideas as economy circles drain

Venezuela's Maduro offers few fresh ideas as economy circles drainAfter promising ambitious economic measures ahead of Monday’s speech, Maduro’s proposals included a 300 percent minimum wage hike, dialogue with business leaders, and increased use of an inexistent state-backed cryptocurrency. There is nothing there that allows one to think that Venezuela will exit the deep crisis it’s experiencing,” said Asdrubal Oliveros, director of Caracas-based consultancy Ecoanalitica, on Twitter. The socialist government, they say, funds wage hikes by increasing the country’s monetary supply, causing inflation to accelerate and negating any benefit an increase in the minimum wage could bring for Venezuelans.



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Trump downplays Apple woes, says China economy helps U.S. in trade talks

Trump downplays Apple woes, says China economy helps U.S. in trade talksTrump has slapped import tariffs on hundreds of billions of dollars of Chinese goods as he seeks concessions from Beijing on issues ranging from industrial subsidies to hacking. China has retaliated. U.S. officials are heading to Beijing next week for the first face-to-face talks since Trump and President Xi Jinping in December agreed to a 90-day truce in the trade war as they sought to strike a deal.



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