Drop in US existing-home sales bigger than projected

September 22nd, 2015  // News

Sales of existing homes in the US dropped 4.8% to a 5.31 million annual rate in August, the National Association of Realtors said. The median forecast of economists surveyed by Bloomberg had called for the sales rate to decline to 5.5 million. Read more

US households’ net worth hit $85.7T in Q2

September 21st, 2015  // News

Net worth for US households and nonprofits reached a record $85.7 trillion in the second quarter, up 0.8%, or $694.8 billion, compared with Q1, according to the Federal Reserve. Higher property values were a driver, compensating for flat returns in the stock market. Read more

Economists divided on likely outcome of Fed meeting

September 17th, 2015  // News

Economists are split on whether this week's Federal Reserve policy meeting will end with a decision to raise interest rates. Reuters' poll of 80 economists shows 45 think the central bank will hold its main rate at zero to 0.25%, while 35 expect an increase. Trading in futures contracts on the Chicago Mercantile Exchange suggests a 23% chance of a rate hike. Read more

Consumer spending up; manufacturing slips

September 16th, 2015  // News

Consumers spent a bit more in August, but manufacturing declined, reversing July's modest gain. The combined results painted a mixed picture ahead of the Federal Reserve's interest-rate decision. Read more

Global trade growth remains low

September 15th, 2015  // News

World trade has grown at about 3% a year in recent years, compared with 6% annually between 1983 and 2008. A lack of new trade agreements and a slowdown in emerging economies are among the reasons for the sluggish growth, economists say. Read more

Bank for International Settlements sees global trouble brewing

September 14th, 2015  // News

Several major factors are converging and posing a threat to the global economy, the Bank for International Settlements said in a report. China's slowdown is hurting emerging markets dependent on commodity exports, the bank said, even as the rising value of the US dollar adds stress in markets where much debt is dollar-denominated. Read more

US data point to firm labor market, weak inflation

September 11th, 2015  // News

The US labor market remains fairly strong and inflation is low, according to the latest data the Federal Reserve will weigh before deciding whether to raise interest rates this month. Jobless benefit claims remained below the key 300,000 mark last week, and import prices fell 1.8% in August after dropping 0.9% the previous month. Read more

More evidence of a significant rise in salaries for accounting and finance

September 11th, 2015  // News

Accounting and finance salaries in the US are projected to grow 2.4% in 2016, according to a salary guide published this week, up from the 1.2% increase forecast for 2015. A separate guide published last week projected accelerating increases in starting salaries for US accountants. Read more

US equities join global rally

September 9th, 2015  // News

The Standard & Poor's 500 index posted its second-biggest advance of the year Tuesday, as US stocks surged after solid gains in Shanghai and Hong Kong. China's gains signaled to traders that equity markets are stabilizing. Read more

Obama requires paid sick leave for federal contractors

September 8th, 2015  // News

President Obama has issued an executive order requiring companies that contract with the federal government to provide their workers with paid sick leave. Employees of these companies will be able to accrue as many as seven days of paid sick leave per year. Read more





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