Source:Eurostat
The severity of the slump in European manufacturing is displayed dramatically in this chart of the region’s industrial production from the end of 2003.
Europe’s manufacturing recession in one chart
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Monthly Archives: January 2013
Gold gets dull
Gold bugs have great 21st century, yet at 6.9%, last year’s gold price rise was the weakest annual gain since 2004.
A shadow over China’s recovering economy
AFP/Getty Images/Liu Jin
The unexpectedly strong trade figures that China announced Wednesday seem to confirm that the country’s economy is recovering from its recent slowdown.
Iraq turns from Turkey to Kuwait
A joint Iraqi-Kuwaiti Committee was held in April 2012 in Baghdad, Iraq, to resolve problems existing between them. Getty Images
On January 27, Kuwait Energy will formally become the majority stakeholder in the exploration consortium for Iraq’s oil block 9 located in the southern Basra Province, near the Iranian border. That day it adds the 30% stake held by Turkey’s state-owned TPAO to its current 40% holding.
Baghdad gave TPAO the boot…
Facing the fiscal headwinds emanating from Washington
The budget and tax reform negotiations that will likely dominate the Treasury secretary’s year will be as much political as technical discussions.
Fernández flies private to avoid the vultures
The bill will be $880,000, 20% more expensive, a spokesman says, than it would have cost to fly in the presidential Boeing 757.
Abe stimulus won’t slake appetite for Japanese government debt
AFP/Getty Images/Yoshikazu Tsuno
Word coming out of Tokyo is that new prime minister Shinzo Abe will live up to his election promise and introduce a 12 trillion yen ($136 billion) stimulus package in the form of a supplemental budget this week.
Saving banks from themselves
AFP/Roslan Rahman
The new watered-down global liquidity rules announced Sunday that require banks to hold enough cash and easy-to-sell assets to allow them to get through a short-term, Lehman Bros-style market crisis reflect two years of hard lobbying by banks.
POWER PLAYER: Mario Draghi
The head of the European Central Bank is in equal measure an academic economist, a public servant and a commercial banker.
Canada’s too-good-to-last new-job generation?
Source: Statistics Canada, U.S. Bureau of Labor Statistics
Canada’s job growth in December was far stronger than expected. The economy added 39,000 jobs, compared to the 5,000 that economists forecast Statistics Canada would report Friday.
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