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US added surprisingly strong 204,000 jobs in October

Job applicants arrive for an internship job fair held by the Miami Marlins, at Marlins Park in Miami. The government issues the October jobs report, on Friday, Nov. 8, 2013, which had been delayed a week because of the government shutdown. AP

The U.S. economy added 204,000 jobs in October, an unexpected burst of hiring in a month when the government was partly shut down for 16 days. And far more jobs were added in August and September than previously thought.

Posted: November 9th, 2013 in Latest Business Stories | Read More »

Asian shares mostly up as US avoids default

Illegal parking agents cycle past an electronic stock board of a securities firm in Tokyo, Thursday, Oct. 17, 2013 as Japan's bench mark Nikkei 225 Index closed at 14,588.51 after gaining 119.37 points, or 0.83 percent. An eleventh hour agreement that averted a U.S. government debt default boosted Asian stock markets Thursday. AP

Asian shares mostly rose Thursday after US lawmakers passed a last-minute bill to reopen the government and raise the country’s borrowing limit, avoiding a devastating default that threatened to spark another global recession.

Posted: October 17th, 2013 in Latest Business Stories | Read More »

Purisima: US default to hit emerging markets

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Finance Secretary Cesar Purisima: Public sector debt has become more and more manageable. INQUIRER FILE PHOTO

Finance Secretary Cesar Purisima has expressed alarm over a potential default by the United States government, saying such an event will bring down not only the world’s biggest economy but also emerging markets like the Philippines.

Posted: October 12th, 2013 in Latest Business Stories,Photos & Videos | Read More »

Hong Kong stocks up 1.25 percent at lunch

A man walks past a screen displaying stock index outside a local bank in Hong Kong. AP FILE PHOTO

Hong Kong shares jumped 1.25 percent on Friday morning as President Barack Obama and Republicans held talks to end a budget stand-off that threatens to plunge the US into default.

Posted: October 11th, 2013 in Latest Business Stories | Read More »

Stock market rises as Syria strike waits for vote

United Nations High Commissioner for Refugees, UNHCR, Portuguese Antonio Manuel de Oliveira Guterres, informs the media about the two million Syrian refugees during a press conference at the European headquarters of the United Nations in Geneva, Switzerland, Tuesday, Sept. 3, 2013. AP

The stock market is rising on the first trading day since President Barack Obama announced that he would seek congressional approval for a military strike against Syria.

Posted: September 4th, 2013 in Latest Business Stories | Read More »

Oil down as Obama seeks Congress approval on Syria

AP FILE PHOTO

Oil prices fell in Asian trade Monday after US President Barack Obama’s announcement that he would seek approval from lawmakers for military action against Syria eased prospects of an imminent strike, analysts said.

Posted: September 2nd, 2013 in Latest Business Stories | Read More »

World stocks mixed as Asia rebounds

A woman looks at an electronic stock board of a securities firm in Yokohama, near Tokyo, Friday, June 14, 2013. INQUIRER file photo

Global stocks were mixed Friday as Asia rebounded from a sharp selloff, with U.S. markets losing early gains after unimpressive economic data and a warning from the International Monetary Fund on growth.

Posted: June 15th, 2013 in Latest Business Stories | Read More »

Analysis: US cuts likely to hit global economy

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FILE - In this Tuesday, Feb. 26, 2013, file photo, House Speaker John Boehner, R-Ohio wraps up a news conference on Capitol Hill in Washington, where he and GOP leaders challenged President Obama and the Senate to avoid the automatic spending cuts set to take effect in four days.  The scheduled cuts in defense spending, unemployment benefits and other programs could slow an already struggling economy. AP

The effects of the $85 billion in US government spending cuts scheduled to begin Friday will be felt across oceans and could further hurt recession-hit European nations and burden an economically slowing China, shrinking the market for countries that depend on selling things to the United States.

Posted: February 28th, 2013 in Latest Business Stories | Read More »

Obama warns of crisis unless debt ceiling is raised

US President Barack Obama. AP

President Barack Obama Monday warned of a new economic crisis and said global stock markets would go “haywire” unless Republicans in Congress agree to raise the US sovereign debt ceiling.

Posted: January 15th, 2013 in Latest Business Stories | Read More »

Obama cuts short his holiday as fiscal cliff battle heats up

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President Barack Obama walks down the lower steps instead of the usual longer stairway from Air Force One upon his arrival at Andrews Air Force Base, Maryland, Thursday, Dec. 27, 2012. The president cut short his holiday and returned to Washington as no deal appeared in sight to avoid the year-end "fiscal cliff" of higher taxes and deep spending cuts that could spin the still-fragile back into a recession.  AP PHOTO/CAROLYN KASTER

US President Barack Obama rushed back to Washington on Thursday in a last-ditch bid to halt America’s slide over the “fiscal cliff,” only to find lawmakers blaming each other for looming failure.

Posted: December 28th, 2012 in Latest Business Stories | Read More »

US economy could withstand brief fall off ‘cliff’

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This Nov. 16, 2012 file photo shows President Barack Obama, accompanied by House Speaker John Boehner of Ohio, speaking to reporters in the Roosevelt Room of the White House in Washington. Even if Congress and the White House fail to strike a budget deal by New Year's Day, reality may be a lot less bleak then the scenario that's been spooking employers and investors and slowing the U.S. Economy. The tax increases and spending cuts could be retroactively repealed after Jan. AP/Carolyn Kaster, File

It’s the scenario that’s been spooking employers and investors and slowing the U.S. economy: Congress and the White House fail to strike a budget deal by New Year’s Day. Their stalemate triggers sharp tax increases and spending cuts. Those measures shrink consumer spending, stifle job growth, topple stock prices and push the economy off a “fiscal cliff” and into recession.

Posted: December 12th, 2012 in Latest Business Stories | Read More »

Asia stocks mixed on Obama remarks

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A man walks by an electronic stock board of a securities firm in Tokyo, Thursday, Dec. 6, 2012. Asian stock markets remained in a holding pattern Thursday as investors assessed President Barack Obama's comments that reaching a budget deal to prevent the U.S. from a possible recession was "not that tough" and could even be done quickly. AP/Koji Sasahara

Asian stock markets remained in a holding pattern Thursday as investors assessed President Barack Obama’s comments that reaching a budget deal to prevent the U.S. from a possible recession was “not that tough” and could even be done quickly.

Posted: December 6th, 2012 in Latest Business Stories | Read More »

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