MercoPress. South Atlantic News Agency
Stories for October 15th 2013
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Tuesday, October 15th 2013 - 07:59 UTC
Confidence China is coming off its worst annual economic performance
China, a major driver of the global economy, is coming off its worst annual economic performance since 1999 after GDP managed an expansion of just 7.7% last year. Authorities, however, say weaker growth is in line with their desire to shift the country's economic growth model toward what they see as slower and more sustainable private-led demand rather than previously popular credit-fuelled state-driven investment projects.
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Tuesday, October 15th 2013 - 00:08 UTC
IMF shocks orthodoxy: tax the rich and target multinationals to fight budget deficits
Tax the rich and better target the multinationals: The IMF has set off shock waves in Washington by suggesting countries fight budget deficits by raising taxes. Tucked inside a report on public debt, the new tack was mostly eclipsed by worries about the US budget crisis, but did not escape the notice of experts and nongovernmental organizations.
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Tuesday, October 15th 2013 - 00:05 UTC
Nobel in Economics to three Americans trying to unravel 2008 financial crisis
Eugene F. Fama, Robert J. Shiller and Lars Peter Hansen shared the 2013 Nobel Prize in Economic Sciences for at times conflicting research on how financial markets work and assets such as stocks are priced. The three economists, all Americans, “laid the foundation for the current understanding of asset prices,” the Royal Swedish Academy of Sciences, said in Stockholm.
