 | US jobs data deepen
growth concerns Worse than expected US jobs data
added to concerns over the global
economy on Friday, sending stocks
even lower.
The 80,000 increase in payrolls
in June was slightly below market
expectations for an increase of
about 90,000.
May´s increase was revised
down.
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| | House row
may leave
Japan govt
penniless |  JAPAN´S government could
run out of money by the end
of October, halting all state
spending including salaries,
pensions and unemployment
benefits, because of a
standoff in parliament that
has blocked a bill to finance
the deficit.
The deficit financing bill,
which would allow the government
to sell bonds needed
to fund almost half of the
budget, has languished in
parliament as the ruling
Democratic Party tussles
with opposition parties that
can use their control of the
upper house to reject legislation.
"Without this bill, the
budget will collapse,"
Finance Minister Jun Azumi
said on Friday, pleading for
cooperation from the two
largest opposition parties.
"It doesn´t matter which
party is in power. I really
hope that we... | | | US hiring stuck in
low gear in June |  US EMPLOYERS hired at a
dismal pace in June, raising
pressure on the Federal
Reserve to do more to boost
the economy and further
imperiling President Barack
Obama´s chances of reelection
in November.
The Labour Department
said on Friday non-farm payrolls
expanded by just
80,000 jobs in June, falling
short of forecasts though a
tad higher than a revised
May reading of 77,000.
Job creation during the
month wasn´t enough to
bring down the country´s
lofty 8.2 percent unemployment
rate. The report
appeared sure to fuel concerns
that Europe´s debt crisis
is shifting the US economy
into low gear.
"We´re just crawling forward
here," said Nigel Gault,
an economist at IHS Global
Insight in Lexington... | | | China´s yuan experiment faces risks and legacy |  CHINA´S plan to test yuan
convertibility in a new services
hub being built near Hong
Kong fanned excitement
Beijing may be dismantling its
rigid capital controls sooner
than expected.
A reality check paints a different
picture and suggests
that China´s latest test bed
carries risks that will make the
country´s policymakers move
slowly.
The experimental zone of
Qianhai - dubbed a $45 billion
"mini Hong Kong" - will be a
pioneer of the gradual opening
up of China´s capital
account. While China controls
capital moving in and out of
the country, it will allow freer
movements of the currency in
and out of Qianhai in the
southern city of Shenzhen.
That was the plan
announced by officials at the
weekend with ... | |
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