Francois Hollande's Socialist Party and their allies on the left are in prime position to gain a majority of seats in France’s National Assembly, following a triumphant performance in the first round of parliamentary elections on Sunday.
U.S. factory orders fell 0.6 percent in April, the second consecutive month of declines and another sign of economic slowdown, the Commerce Department said Monday
U.S. Secretary of State Hillary Clinton has arrived in the Armenian capital of Yerevan amid growing tensions between Armenia and its neighbor Azerbaijan.
Falling global oil prices as well as declining core inflation and growth in India give the Reserve Bank of India room to adjust interest rates, a deputy governor said, two weeks before a policy review wherein expectations have been growing for a rate cut. RBI Deputy Governor Subir Gokarn also said liquidity in the Indian banking system was adequate after a recent drop in banks' borrowing from the central bank, which gives it the option of buying bonds if tightness re-emerges, a remark which dampens market expectations for a reduction in the cash reserve ratio. In reply to a query on whether there was more room to cut rates following weak growth numbers, Gokarn said: "I think the two factors that are suggesting more room - one, the growth is lower than expectation - that may have positive impact on core inflation." "Two, the oil prices have come off, more than expected
Japan 's Topix Index slumped to its lowest in 28 years as investor confidence was severely hit by disappointing US jobs data, heightening the euro zone debt crisis and weakening Chinese economy. The Topix Index fell 1.9 percent to close at 695.51, which is the lowest since December 1983
Utilising the power of digital technology and social media, Tourism Australia (TA) launched on Monday a $250-million tourism campaign, primarily to lure the Chinese market, where some 100 million have been forecast will tour the world by 2020. And to even prove the organisation's resoluteness to the campaign, Australia n Tourism Minister Martin Ferguson, TA chairman Geoff Dixon and TA managing director Andrew McEvoy led a delegation on Sunday to launch the campaign right smack in the heart of Shanghai, China . " China is the highest value international market for Australia and the fastest-growing,'' Mr McEvoy said in Adelaide Now, noting 90 per cent of the marketing campaign's target was international market.
FROM MORRISON SECURITIES PTY. LTD: U.S. STOCK MARKETS Another dismal U.S
Climate Change Minister Greg Combet criticised Opposition MPs for speaking against the carbon tax while at the same time boosting their investment in mining which is a major contributor to greenhouse gas emissions. He claimed that 34 or one-third of Coalition MPs, senators or their families made fresh mining investments in the past 24 months. Mr Combet based his statement on updates in the parliamentary register of members' interest.