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U.S. industry shows some vigor, but housing soft WASHINGTON: U.S. industrial production rose at a faster-than-expected clip in March, the latest sign the economy was gaining momentum.Groundbreaking for new homes also increased but remained well below the post-recession peak hit in November, signaling the drag the housing market is placing on the economy."Several parts of the economy are warming up, but housing is the exception," said Ryan Sweet, a senior economist at Moody's Analytics in West Chester, Pennsylvania. "We are still on track for very strong second-quarter growth."Output at the nation's factories, mines and utilities rose 0.7 percent last month after an upwardly revised gain of 1.2 percent in February, the Federal Reserve said on Wednesday.The increase in industrial production, which beat economists' expectations for a 0.5 percent gain, reflected in part a 0.5 percent rise in manufacturing output. There were also hefty increases in production at mines and utilities.The report added to data such as retail sales ...


AT&T may sit out auction if FCC spectrum plan is adopted WASHINGTON: AT&T Inc might sit out a major US auction of airwaves if regulators adopt rules that reserve some of the spectrum for smaller rivals, the No. 2 wireless company said in a filing released on Wednesday.The Federal Communications Commission recently drafted some of the rules for the highly complex auction scheduled for 2015. The auction would reshuffle the ownership of valuable frequencies between TV stations and wireless carriers clamoring for faster speeds and better ...

Deutsche Bank denies report its CEOs' jobs are at risk FRANKFURT: Deutsche Bank denied a media report that said its co-Chief Executives Anshu Jain and Juergen Fitschen could be replaced, possibly with former UBS finance chief John Cryan.Germany's Manager Magazin on Wednesday cited "insiders" saying Deutsche Bank supervisory board chairman Paul Achleitner was preparing to bring in a new chief executive.In a summary of its report, the magazine said Achleitner has met in recent weeks with potential candidates including Cryan, the European head of Singaporean ...

US industry shows some vigor, but housing soft WASHINGTON: US industrial production rose at a faster-than-expected clip in March, the latest sign the economy was gaining momentum.Groundbreaking for new homes also increased but remained well below the post-recession peak hit in November, signaling the drag the housing market is placing on the economy.Output at the nation's factories, mines and utilities rose 0.7 percent last month after an upwardly revised gain of 1.2 percent in February, the Federal Reserve said on Wednesday.Economists had expected ...

Bank of Canada keeps rates steady, warns of weak inflation OTTAWA: The Bank of Canada signaled its continuing concern about weak inflation on Wednesday, maintaining its neutral stance on interest rates and suggesting it will ignore a faster than expected rise in headline inflation because the rise will mainly reflect temporary price increases in volatile items.The central bank held its benchmark interest rate at 1 percent, as expected, extending a 3-1/2 year freeze on borrowing costs.Repeating language it used in its last rate announcement on ...

Yields rise on Chinese growth, rising stocks NEW YORK: US Treasuries prices fell on Wednesday as better-than-expected growth in China helped boost riskier assets, including stocks, reducing demand for safe-haven government bonds.China, the world's second-largest economy, grew 7.4 percent in the January-March quarter from a year earlier, the National Bureau of Statistics said on Wednesday. That was slightly stronger than the median forecast of 7.3 percent in a Reuters poll but still slower than 7.7 percent in the final quarter of 2013.A ...

Tesco seeks Asia pick-up after fresh profit setback LONDON: Supermarket giant Tesco announced a second drop in annual profits in a row on Wednesday, leaving Britain's biggest retailer hoping that recent expansion into India and China can offset weakness in Europe.The world's third-biggest supermarket group said its trading profit dropped 6.0 percent to £3.31 billion ($5.54 billion, 4.0 billion euros) in the year to late February, compared with its performance in 2012/13.But annual profit after tax soared to £974 million from £28 million ...


 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln