News Feed » OECD

Overnight Market News – November 19, 2009

admin — Thu, 19 Nov 2009 13:40:42 +0000

Organization for Economic Cooperation and Development Lifts Euro Zone 2010 Growth Forecast, Now Expects Expansion of 0.9% Versus Prior Estimate for Zero Growth
JPMorgan Chase & Co Agrees to Purchase Remaining Stake of UK Stockbroker, Cazenove for GBP 1B (USD 1.7B)
Sony Corp Aims to Return its Gaming and TV Businesses to Profitability by Fiscal 2011, Will Also Target 20% Market Share in LCD TV Market by April 2012
Brewer, SABMiller PLC Reports 26% Decline in First Half Pre-Tax Profit to USD 1.5B, Announces Programme to Save USD 300m Annually by 2014
Air France-KLM to Cut 1,700 Jobs in 2010 Following Worse-Than-Expected Quarterly Loss of EUR 147mm
German Chipmaker, Infineon Technologies AG Posts Fourth-Quarter Net Income of EUR 14mm Versus Net Loss of EUR 884mm a Year Ago on Cost-Cutting
Crude Oil Stands at USD 79.09 per Barrel
Ethanol Stands at USD 2.12 per Gallon
Natural Gas Stands at USD 4.24 per British Thermal Unit (Btu)
Gold Stands at USD 1,143.00 per Troy Ounce
Dow Jones Industrial Average Falls 11.11 Points (-0.11%)
London FTSE Index Falls 13.95 Points (-0.26%)
Japan Nikkei Index Falls 127.33 Points (-1.32%)
Hong Kong Hang Seng Index Falls 197.17 Points (-0.86%)
Brazil Bovespa Index Falls 890.32 Points (-1.32%)

OECD Releases Dismal Outlook

admin — Thu, 17 Sep 2009 17:40:51 +0000

As stock markets advanced around the world yesterday, the Organisation for Economic Co-operation & Development (OECD) released a dismal outlook. The OECD said that the global recession would cause 25 million persons to lose their jobs if the global recovery is unable to garner momentum.

There have been over 15 million job losses thus far, and it estimates that as much as 10 million more could come next year, pushing the unemployment rate to 10%. The jobless rate among OECD countries was 8.5% in July, compared with 5.6% at the close of 2007.

UK Economy Expected To Contract in 2009

admin — Fri, 04 Sep 2009 20:11:52 +0000

The Organisation for Economic Co-operation and Development (OECD) came bearing good news for the global economy, except -that is- for the UK. The OECD expects global growth to rebound more quickly than it initially forecasted, but added that the UK economy would contract by 4.7% this year, worse than its previous expectation of 4.3%, and worse than the 4.5% decline the U.S. Treasury anticipated.

Unfortunately, this development will not allow an overly comfortable experience for Britain’s Finance Minister, who must meet his G20 counterparts in London soon.

OECD Upgrades Its Estimate For The Economy

admin — Thu, 25 Jun 2009 22:08:01 +0000

Yesterday, for the first time in two years, the Organization for Economic Cooperation & Development (OECD) upgraded its estimate for the economy of its 30 member nations. The OECD now expects that the combined economy of the world’s most advanced countries will contract 4.1% in 2009 and grow 0.7% in 2010.

This is an improvement from its March projection for a 4.3% contraction and growth of only 0.1%. The OECD also raised its U.S. estimate and foresees the economy shrinking by 2.8% in 2009, compared with a previous estimate of 4%.

Overnight Market News – June 24, 2009

admin — Wed, 24 Jun 2009 12:06:36 +0000

Venezuela’s Government to Continue Reviewing Possibility of Permitting State Oil Company Petroleos de Venezuela SA (PDVSA) to Issue Bonds This Year
Organization for Economic Cooperation and Development (OECD) Expects Combined Economies of Member States to Contract 4.1% in 2009, Up from March’s 4.3% Forecast
Citigroup Inc To Raise Employees’ Base Salaries by as Much as 50% to Compensate for Reduction in Annual Bonuses
The US and European Union (EU) Accuse China of Unfairly Limiting its Raw Material Exports in Complaint to World Trade Organization (WTO), China to Contest Case
JPMorgan Tops The Banker’s Annual List of the 1,000 Strongest Banks, Royal Bank of Scotland (RBS) Suffered Biggest Loss
Crude Oil Stands at USD 68.95 per Barrel
Ethanol Stands at USD 1.78 per Gallon
Natural Gas Stands at USD 3.91 per British Thermal Unit (Btu)
Gold Stands at USD 929.80 per Troy Ounce
Dow Jones Industrial Average Falls 16.10 Points (0.19%)
London FTSE Index Rises 7.32 Points (0.17%)
Japan Nikkei Index Rises 40.71 Points (0.43%)
Hong Kong Hang Seng Index Rises 353.78 Points (2.02%)
Brazil Bovespa Index Rises 318.78 Points (0.64%)