U.S.: U.S. Growth at Above-Forecast 3% on Consumer, Business Spending The U.S. economy expanded at a faster pace than forecast in the third quarter, indicating resilient demand from consumers and businesses even with the hit from hurricanes Harvey and Irma, Commerce Department data showed Friday. Highlights of Third-Quarter GDP (First Estimate) Gross domestic product grew

Europe: ECB Slows Asset Purchases as Draghi Heads for Stimulus Exit The European Central Bank will reduce its monthly bond purchases next year in a step toward ending a program that has spent more than 2 trillion euros ($2.4 trillion) trying to revive euro-area inflation. Policy makers agreed to scale back buying to 30 billion

U.S.: Risky Business Set to Dominate High-Yield Bond Market in 2018 If 2017 is judged to be the year of big but boring refinancings for the European high-yield market, next year is shaping up to be a different proposition with leveraged buyouts and lower-rated credits expected to drive a bigger share of bond sales. Yield-hungry

U.S.: U.S. jobless claims drop to more than 44-year low The number of Americans filing for unemployment benefits fell to its lowest level in more than 44 years last week, pointing to a rebound in job growth after a hurricane-related decline in employment in September. Initial claims for state unemployment benefits dropped 22,000 to a

Asia: Overseas assets held by China's centrally owned firms top $900 billion The value of overseas assets held by China’s centrally owned enterprises has exceeded 6 trillion yuan ($906.34 billion), with investments in more than 185 countries and regions, the state assets regulator said on Wednesday. China’s state-owned enterprises (SOEs) are spearheading investment in infrastructure

U.S.: U.S. online retail sales likely to surpass $1 trillion by 2027 U.S. online retail sales will surpass $1 trillion by 2027 compared with $445 billion this year, according to a forecast by business advisory firm FTI Consulting Inc (FCN.N), as more Americans move away from brick-and-mortar stores. Online sales will grow at a compound

U.S.: U.S. retail sales surge, driven by autos and gasoline purchases U.S. retail sales recorded their biggest increase in 2-1/2 years in September likely as reconstruction and clean-up efforts in areas devastated by Hurricanes Harvey and Irma boosted demand for building materials and motor vehicles. The Commerce Department said on Friday retail sales jumped 1.6

U.S.: U.S. producer prices increase; weekly jobless claims fall U.S. producer prices rose in September as the price of gasoline recorded its biggest increase in more than two years amid hurricane-related production disruptions at oil refineries in Texas. Other data on Thursday showed applications for unemployment benefits dropped to a more than one-month low last

U.S.: Fed's Evans Says Weak Inflation May Not Be Temporary Phenomenon Federal Reserve Bank of Chicago President Charles Evans said that weak inflation in the U.S. may not be entirely due to temporary factors. Citing inflation expectations surveys, he said they make him “nervous” about some of the explanations for low price growth that focus

World economic growth improving, even as U.S., UK potential slows: IMF The current broad-based global economic upswing will likely be sustained this year and next, the International Monetary Fund said on Tuesday, with gains in most of the world offsetting sluggish outcomes in the United States, Britain and India. The IMF upgraded its global economic