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Latest 24 Hour Economy News
Source: Global News

World economic growth to slow in 2019 as trade wars, global uncertainty take toll

Today 20:55 GMT

The International Monetary Fund has cut its forecast for world economic growth this year, citing heightened trade tensions and rising U.S. interest rates.

For Canada, the IMF’s estimate for growth in 2019 was 1.9 per cent, down from a forecast in October for growth of 2.0 per cent. READ MORE: Next World Bank chief could bring Trumpian mindset to one of the world’s major lenders. Unveiling its forecasts at the World Economic Forum in Davos, Switzerland, the fund left its prediction for U.S. growth this year unchanged at 2.5 per cent.

Source: Reuters

IMF cuts global growth outlook, cites trade war and weak Europe

Today 20:55 GMT

The International Monetary Fund on Monday cut its world economic growth forecasts for 2019 and 2020, due to weakness in Europe and some emerging markets, and said failure to resolve trade tensions could further destabilize a slowing global economy.

“The main shared policy priority is for countries to resolve cooperatively and quickly their trade disagreements and the resulting policy uncertainty, rather than raising harmful barriers further and destabilizing an already slowing global economy,” it added.

Source: Common Domain

Carlos Ghosn Offers to Pay for Ankle Monitor, Security to Get Bail in Japan

Today 20:55 GMT

Carlos Ghosn scaled back his request for bail as his detention stretches into its ninth week, promising to stay in Tokyo and pay for an ankle monitor and security guards to ensure he doesn’t flee.

He offered to wear an ankle monitor and have his movements monitored by court-approved security guards at his own expense. He said he would refrain from contacting anyone who could be a witness against him and report to prosecutors daily.

Source: Global News

46% of Canadians $200 or less away from not being able to pay their bills

Today 20:55 GMT

READ MORE: Over half of Canadians are $200 or less away from not being able to pay bills. The polling industry’s professional body, the Marketing Research and Intelligence Association, says online surveys cannot be assigned a margin of error because they do not randomly sample the population.

A new poll says the number of Canadians who are $200 or less away from financial insolvency at month-end has jumped to 46 per cent, up from 40 per cent in the previous quarter, as interest rates rise.

Source: DW

Oxfam releases global inequality report amid ongoing controversy

Today 20:55 GMT

As the world's rich meet for the World Economic Forum in Davos, their festivities are as usual heralded by the Oxfam report on global inequality — a highly controversial study which should be taken with a grain of salt.

Send Facebook Twitter google+ Whatsapp Tumblr linkedin stumble Digg reddit Newsvine. It is clear that the Oxfam report is not of the high academic caliber worthy of the sort of media attention it generates.

Source: Reuters

As outlook darkens, central banks think hard about their language

Today 20:55 GMT

Forced to slash borrowing costs, in some cases below zero, to fight the global financial crisis, the big central banks relied heavily on verbal hints and signals to set expectations about the future path of rates.

Other central banks, notably the BOJ, have been forced to maintain or even strengthen forward guidance to make up for a lack of alternative tools. [L1N1ZL0BZ]. The U.S. Federal Reserve has been weaning itself off forward guidance as it dials back crisis-mode policies, removing last year a phrase that policy will stay “accommodative” for some time.

Source: The Guradian

How the 1% profit off of racial economic inequality

Today 20:55 GMT

We must address the overall challenges of inequality with policies to raise the minimum wage and expand health care, while taxing the 1% to fund education and infrastructure that create an economy that works for everyone, not just the super-rich.

Public policies aimed at reducing both overall inequality and the racial wealth divide in particular will be critical to creating a more equitable economic system.

Source: Common Domain

Oil Prices Pause as Chinese Data Signals Slowdown

Today 20:55 GMT

• Oil prices were mixed Monday morning, pausing after hitting an eight-week high Friday amid fresh signs of slowing growth in China.

• Brent crude, the global oil benchmark, was trading down 0.1% at $62.64 a barrel, on London’s Intercontinental Exchange. • West Texas Intermediate futures, the U.S. oil standard, ticked up by 0.1% to $54.08 a barrel on the New York Mercantile Exchange. China: The world’s second-largest economy Monday reported a 6.6% growth rate for 2018, its slowest pace in nearly three decades.

Source: Common Domain

Tech is ready to respond to Wall Street’s doubts, but don’t expect a holiday miracle

Today 20:55 GMT

The most important earnings season for tech since the dot-com boom went bust is about to begin, but don’t expect a holiday miracle, especially for the companies that are used to a victory lap at this time of year.

This earnings season, though, comes in the wake of a huge fourth-quarter decline for tech stocks, as forecasts for the holiday season sparked concerns about the death of huge growth rates that have propelled tech companies to previously outsize valuations — the most serious challenge the current tech boom has faced.

Source: Reuters

Asset managers brace for more job cuts amid market turbulence

Today 20:55 GMT

Over 2018, the Thomson Reuters global fund managers index .TRXFLDGLPUINVM fell 27 percent with Standard Life Aberdeen (SLA.L) down 40 percent, France’s Amundi (AMUN.PA) down 35 percent and Italy’s Anima (ANIM3.SA) down 39 percent.

BlackRock (BLK.N), the world’s largest money manager, and industry No. 3 State Street (STT.N) announced job cuts this month after the worst year for many stock indexes since the financial crisis and losses across most other financial assets.

Source: Common Domain

Why Old-School Chinese Stimulus Won’t Help

Today 20:55 GMT

That will shape Beijing’s policy response, and probably disappoint investors hoping for a 2009- or 2015-style lending splurge.

Unfortunately for commodities investors, that isn’t really a recipe for a 2016 style rally, because infrastructure is usually less metal intensive than residential construction. If and when housing prices start drooping and state-owned industrial companies start defaulting, Beijing may have to pull out the big credit-stimulus gun again.

Source: Common Domain

Foreign Buyers Flood Turkey’s Struggling Housing Market

Today 20:55 GMT

Foreign buyers swooped into Turkey’s property market in the wake of the historic lira crisis and purchased more homes in the last six months than in all of 2017.

Foreign buyers have given Ankara, Turkey’s landlocked capital, the biggest boost, with sales to such buyers soaring 160% in 2018. "I think there’s been a more significant reaction to that than the currency," Mr. Walker added.

Source: Fox News

These are the best banks in America right now

Today 20:55 GMT

Bankrate ranked the best big banks in America on factors including free or low-fee checking and savings accounts, low out-of-network ATM fees and highly rated mobile apps.

Accounts are available online nationwide, and there are more than 500 branches available in Louisiana, Texas and a number of states in the northeast.

Source: Global News

From Quebec to B.C.: Calls mount for public inquiry into money laundering and organized crime

Today 20:55 GMT

An influential British Columbia labour union is calling on the B.C. government to launch a public inquiry into organized crime, opioids and money laundering in the province.

In a public statement on Monday, the BC Government and Service Employees’ Union (BCGEU) cited revelations in Global News investigations about the connection of fentanyl, money laundering and Vancouver’s housing affordability crisis, and also the recent failure of an RCMP money-laundering investigation, as reasons in favour of an inquiry.

Source: Common Domain

Americans are overconfident about retirement

Today 15:24 GMT

Buoyed by a sharp rise in stock prices that left many retirement savers feeling flush, the number of U.S. workers who say they’re confident about their ability to retire comfortably edged up last year, according to a sweeping new survey.

That’s my big takeaway from the 28th annual Retirement Confidence Survey, the country’s longest running look at the retirement prospects for workers and retirees.

Source: BBC

Historic Brexit deal vote awaited

Tuesday 22:45 GMT
Source: The Guradian

Woman denied abortion in Dublin despite new legislation

Friday 14:30 GMT
Source: Common Domain

The Morning Download: Hey Big IT Spenders

Friday 14:30 GMT
Source: Global News

Kidnapped Canadian found dead in Burkina Faso: security officials

Thursday 14:30 GMT
Source: Fox News

Trump accuses Pelosi of being 'controlled by the radical left,' hours before White House statement on shutdown

Sunday 15:24 GMT
Source: Common Domain

Why Europeans Won’t Catch Wall Street’s Bandwagon

Friday 14:30 GMT
Source: The Guradian

A nude direction: why is Avril Lavigne posing naked with a guitar?

Friday 14:30 GMT
Source: Fox News

Super Bowl ticket prices: Here's what Patriots-Rams seats cost

Today 20:55 GMT
Source: BBC

Rolls-Royce vies for UK nuclear role

Today 20:55 GMT
Source: Fox News

UN survey finds more than one third of workers experiences sexual harassment in last two years

Today 20:55 GMT
Source: BBC

CIA spy who inspired Argo dies

Today 16:19 GMT
Source: DW

France fines Google €50 million for EU privacy breaches

Today 20:55 GMT
Source: DW

China: Football's (still) sleeping giant

Today 20:55 GMT
Source: Global News

Tony Mendez, former CIA officer and inspiration for ‘Argo’, dies at 78

Today 03:19 GMT

“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte