Group items tagged

"Consumer sentiment dropped in June to the lowest level since December as consumers are getting increasingly concerned about the staggering economic conditions. The gauge dropped to a final June reading of 73.2 from 79.3 in May, signifying the lowest level since December. "

"Japan's industrial output dropped to its lowest level since the March 2011 earthquake, down 3.1 percent in May from the previous month. Automobile output was limited by weakness in European demand."

"The debt rating of Philippines was raised by Standard & Poor's to the highest level since 2003. It was raised one level to BB+ from BB, which is just one step below investment grade. "

"The US dollar advanced the most against the euro in 10 months as the ECB said that the euro region still faces risks. It is felt that the interest-rate cuts by ECB may not be enough to control the debt crisis in the euro bloc. "

"Sales of new single-family houses in May reached the highest level since April 2010, showing that the US housing market is looking up and that the industry is no longer a drag on the broader US Recovery. "

"The faltering economic growth is not able to support job growth and June is expected to be another weak month in respect of the job market. The number of applications for unemployment benefits in the latest week is above a level that is too high to lower the unemployment rate. "

"Upbeat US economic news led to the rise of oil prices Wednesday, while scorching temperatures lifted natural gas to its highest level in more than five months."

"The Australian dollar reached a level which was just 0.6 percent less than a record high against the euro just before the European Central Bank and Bank of England are scheduled to meet to discuss ways to provide economic stimulus for boosting demand for currencies tied to growth. "

"US apartment rents have increased at a rate that has not been seen since before the financial crisis and in the second quarter vacancies have dropped to the lowest level in 10 years."

"Concerns regarding the global slowdown were heightened when Cummins lowered its full-year sales projections attributing it to weak demand for its heavy machinery. It expects sales to remain flat at last year's level of $18 billion."

Ministers and high-level officials from 76 countries and jurisdictions have signed or formally expressed their intention to sign an innovative multilateral convention that will swiftly implement a series of tax treaty measures to update the existing network of bilateral tax treaties and reduce opportunities for tax avoidance by multinational enterprises.