Australian Dollar Hits 2-Week High After CPI Data

TODAY: Oct. 22, 2014 PUB DATE: July 23, 2014

By James Glynn and James Ramage The Australian dollar rose to its highest level in two weeks against the U.S. dollar and the yen Wednesday after inflation data dented investors' expectations that Australia's central bank would cut interest rates before ...

EBRD to Stop New Investments in Russia

TODAY: Oct. 22, 2014 PUB DATE: July 23, 2014

By Paul Hannon The European Bank for Reconstruction and Development said on Wednesday that it won't make any new investments in Russia in response to sanctions on the country announced by the European Union last week. The sanctions were announced ...

U.K. Economy Is Gaining Strength, Says BOE Carney

TODAY: Oct. 22, 2014 PUB DATE: July 23, 2014

GLASGOW--The U.K. economy is gaining strength but will face persistent headwinds in the years ahead that are likely to keep a lid on future rises in interest rates, the governor of the Bank of England said Wednesday. In a speech ...

Euro-Zone Consumer Confidence Weakened in July

TODAY: Oct. 22, 2014 PUB DATE: July 23, 2014

Consumer confidence in the 18 countries that share the euro weakened for the second straight month in July, an indication that new stimulus measures announced by the European Central Bank have failed to convince households that the economy is on ...

IMF Cuts U.S. 2014 Growth Forecast to 1.7%

TODAY: Oct. 22, 2014 PUB DATE: July 23, 2014

WASHINGTON--The International Monetary Fund Wednesday revised its growth outlook for the U.S. economy for the second time in two months after a first-quarter contraction turned out to be worse than the fund originally forecast. The IMF cut its growth expectations ...

Polish Central Banker: No Reason for Imminent Rate Cuts

TODAY: Oct. 22, 2014 PUB DATE: July 23, 2014

By Patryk Wasilewski WARSAW--Poland's rates panel has no reason to deliver an interest rate cut soon, said one of the panel's members Andrzej Kazmierczak on Wednesday. He made the comment after the nation's statistics office said retail sales were much ...

China's Huatong Road & Bridge Avoids Bond Default

TODAY: Oct. 22, 2014 PUB DATE: July 23, 2014

BEIJING--A Chinese company facing a $64.5 million bond repayment on Wednesday found a way to pay back investors at the last minute, averting a potentially unsettling default in China's fast-growing debt market but raising concerns over deepening moral hazard. Huatong ...

Spanish Growth Quickens in Second Quarter -- Update

TODAY: Oct. 22, 2014 PUB DATE: July 23, 2014

By David Román MADRID--Spain's economy grew at its fastest pace in six years during the second quarter, in contrast to the rest of the euro zone where growth appears to have stalled. The Bank of Spain said Wednesday that Spanish ...

Bet on Failed Bank IndyMac Creates Windfall

TODAY: Oct. 22, 2014 PUB DATE: July 23, 2014

An investment group backed by John Paulson, George Soros, Michael Dell and Christopher Flowers stands to gain more than $3 billion from a bet made on a failed lender during the depths of the financial crisis. The group's 2009 purchase ...

Euro Falls Against Dollar, Yen Ahead of Data

TODAY: Oct. 22, 2014 PUB DATE: July 23, 2014

By Hiroyuki Kachi The euro weakened against its rivals in Asia trade Wednesday, hitting fresh multi-month lows against the dollar and the yen, underscoring how the common currency is vulnerable to selling pressure ahead of major economic data in the ...

China Banking System June Net Forex Sales 88.28 Billion Yuan

TODAY: Oct. 22, 2014 PUB DATE: July 23, 2014

BEIJING--China's central bank and financial institutions sold a net 88.28 billion yuan ($14.2 billion) of foreign currency in June, compared with a net purchase of 38.657 billion yuan in May, according to calculations by Dow Jones from central bank data. ...

EBRD to Stop New Investments in Russia

TODAY: Oct. 22, 2014 PUB DATE: July 23, 2014

The European Bank for Reconstruction and Development said on Wednesday that it won't make any new investments in Russia in response to sanctions on the country announced by the European Union last week. The sanctions were announced on July 16, ...

Conditions Suggest Volatile Money Flows to China, Official Says

TODAY: Oct. 22, 2014 PUB DATE: July 23, 2014

By Richard Silk BEIJING--China could face more "volatile" financial flows in the second half of the year, a Chinese official said on Wednesday, against a background of tighter monetary policy in the U.S. Guan Tao, head of the department of ...

LONDON MARKETS: Glaxo Slides In London After Earnings Warning

TODAY: Oct. 22, 2014 PUB DATE: July 23, 2014

By Carla Mozee, MarketWatch LONDON (MarketWatch) -- Shares of GlaxoSmithKline PLC dropped sharply following a profit warning, keeping a lid on gains for the benchmark FTSE 100 index on Wednesday. Glaxo shares (GSK) fell 4.7%,the steepest decline since October 2008, ...

Argentina Posts $1.37 Billion Trade Surplus In June

TODAY: Oct. 22, 2014 PUB DATE: July 23, 2014

By Taos Turner BUENOS AIRES--Argentina's trade surplus rose slightly on the year to $1.37 billion in June as a rapid downturn in imports offset a decline in exports, the government reported on Wednesday. The declines in both imports and exports ...

Detroit Pension Leaders Express Relief About Debt-Cutting Plan -- Update

TODAY: Oct. 22, 2014 PUB DATE: July 23, 2014

By Matthew Dolan and Andrea Gallo Leaders of Detroit pension funds expressed relief Tuesday after voting results showed pension holders endorsed the Motor City's historic reorganization plan, but bond insurers voiced continued opposition, signaling a bumpy road ahead in bankruptcy ...

BOJ's Nakaso Says Recovery in Exports 'Sluggish'

TODAY: Oct. 22, 2014 PUB DATE: July 23, 2014

SHIZUOKA, Japan--Bank of Japan Deputy Gov. Hiroshi Nakaso said Wednesday that the recovery in the country's exports has been "sluggish" and slow by historical standards, highlighting how lackluster shipments abroad have become a major debate topic among central bankers. "While ...

South Africa Inflation Rate Steady at 6.6% in June

TODAY: Oct. 22, 2014 PUB DATE: July 23, 2014

By Patrick McGroarty JOHANNESBURG--South Africa's annual inflation rate remained at 6.6% in June, well above the central bank's target ceiling. The South African Reserve Bank said last week that inflationary pressure was the main reason it had decided to raise ...

U.S. Prepared to Expand Russian Sanctions

TODAY: Oct. 22, 2014 PUB DATE: July 23, 2014

WASHINGTON--The Obama administration is prepared to expand a new set of economic sanctions against Russia if the country doesn't take steps to end Ukraine's conflict with pro-Russia separatist fighters, a senior administration official said. U.S. officials, who are looking to ...