9/11/2015- A further sharp downturn in emerging market economies and world trade has weakened global growth to around 2.9% this year – well below the long-run average – and is a source of uncertainty for near-term prospects, says the OECD. In its latest twice-yearly Economic Outlook, the OECD projects a gradual strengthening of global growth […]
FOSTER CITY, Calif. & LONDON–(BUSINESS WIRE)– Visa Inc. (NYSE: V) and Visa Europe Ltd. today announced a definitive agreement for Visa Inc. to acquire Visa Europe, creating a single global company. The transaction consists of upfront consideration of €16.5 billion with the potential for an additional earn-out of up to €4.7 billion payable following the […]
SAN FRANCISCO, In a move that will help reduce expenses for U.S. small businesses that are doing business internationally, Wells Fargo (NYSE: WFC) today announced it has removed its foreign transaction fees on all business credit card and business line of credit access card transactions made outside the U.S. effective October 1. With this change, […]
Real gross domestic product — the value of the goods and services produced by the nation’s economy less the value of the goods and services used up in production, adjusted for price changes — increased at an annual rate of 1.5 percent in the third quarter of 2015, according to the “advance” estimate released by […]
Washington, DC — GE (NYSE: GE) announced today that it will invest up to $1 billion in the power, oil and gas, and healthcare sectors to support Indonesia’s accelerated economic growth. The announcement was made on the sidelines of a meeting between the President of the Republic of Indonesia, Joko Widodo, and the President of […]
1. We, the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development, held our ninety-fourth meeting in Lima, Peru on October 8, 2015 with Alain Bifani, Director-General of the Ministry of Finance of Lebanon in the Chair; Mauricio Cárdenas, Minister of Finance and Public Credit of Colombia as First Vice-Chair; and Sufian Ahmed, Minister […]
Iceland today repaid, ahead of schedule, all of its remaining obligations to the International Monetary Fund (IMF), amounting to SDR 236.9 million (about US$334 million). The single repurchase today consolidates 11 separate repurchases that would otherwise have fallen due between October 14, 2015 and August 31, 2016. The obligations were contracted under the Stand-By Arrangement […]
ST. LOUIS, MO. A majority of investors have taken advantage of low interest rates, according to the third quarter Wells Fargo/Gallup Investor and Retirement Optimism Index survey. The survey of 1,006 U.S. investors was conducted August 7-16; the median age of the retired investors is 70 and the non-retired is 45. Six in 10 investors […]
Information received since the Federal Open Market Committee met in July suggests that economic activity is expanding at a moderate pace. Household spending and business fixed investment have been increasing moderately, and the housing sector has improved further; however, net exports have been soft. The labor market continued to improve, with solid job gains and […]
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy in order to meet the 2% inflation target and in a way that helps to sustain growth and employment. At its meeting ending on 9 September 2015, the MPC voted by a majority of 8-1 to maintain Bank Rate at 0.5%. The Committee voted […]
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