Page 28 - Global Economy

How the GDP magic failed

Book review of GDP: The World's Most Powerful Formula and Why it Must Change

G7's Cornwall rendezvous

The group's relevance was tested again

G7 eyes allocating $100 bn from IMF funds to Covid-ravaged nations: US

The issue will be on the table when G7 leaders discuss how to help steer the world's recovery from the coronavirus pandemic at a three-day summit in Cornwall, England, which began on Friday

Oil prices rise to fresh multi-year highs on fuel demand recovery

Brent crude futures edged up 13 cents to $72.65 a barrel to 1145 GMT, a day after closing at their highest since May 2019

Reopening US economy heat up inflation; labour market recovery gets a boost

May's inflation drivers appear to be temporary, fitting in with Federal Reserve Chair Jerome Powell's repeated assertion that higher inflation will be transitory

'Winners' and 'losers' from Covid-19

China is a clear winner; US a distant second; Europe and the UK are among the losers; India an also-ran

Global supply chain squeeze, soaring costs threaten solar energy boom

The situation suggests slower growth for the zero-emissions solar energy industry at a time world governments are trying to ramp up their efforts to fight climate change

World Bank boosts growth forecasts as US stimulus, vaccines stoke demand

Emerging markets excluding China are expected to grow 4.4% in 2021

Global economy expected to expand 5.6% in 2021, says World Bank

This would be the fastest post-recession pace in 80 years

Several downsides to economic cooperation between US and South Korea

The two countries are not truly committed to greening the global economy because their manufacturing and exports still depend on dirty energy

India elected to UN Economic and Social Council for 2022-24 term

India has been elected to the Economic and Social Council, one of the six main organs of the United Nations, for the 2022-24 term

Japan upgrades first-quarter GDP on smaller hit to domestic demand

The economy declined an annualised 3.9% in January-March, not as bad as the preliminary reading of an annualised 5.1% contraction

Fed tapering and emerging markets

The year 2021 will be one of the strongest years for global growth in history

Explained: What is a global minimum tax and what will it mean?

Major economies are aiming to discourage multinationals from shifting profits - and tax revenues - to low-tax countries regardless of where their sales are made.

Global M&A activity surges to record high for third straight month

During the five months, 428 deals worth over $1 billion were struck, compared to 131 during the same period last year.

G-7 nears deal for at least 15% global minimum corporation tax: Report

The ministers are meeting Friday and Saturday in London and are due to release a statement after the discussions.

Global mergers and acquisition surges to record high for 3rd straight month

(Reuters) - Global mergers and acquisition (M&A) activity hit a record high for the third straight month in May, driven mainly by low interest rates, soaring equities and higher dealmaking interest in sectors that have received a boost from the COVID-19 pandemic.

US private sector adds 978,000 jobs in May, biggest gain in 11 months

Private companies in the US added 978,000 jobs in May, which marked the biggest gain in 11 months and indicated a continued labour market recovery amid the Covid-19 pandemic, according to a report

Covid-19 created employment crisis, 'all countries have suffered': ILO

UN agency predicts uneven economic recovery in second half of 2021, but newly created jobs will be of low quality.

ECB to keep policy loose this year despite high inflation risks: Poll

The poll showed headline inflation would pick up sharply to average 1.8% this year