Just Economic Info

Greece won a major pledge of financial support from the other countries that use the euro and the International Monetary Fund in a deal that aims to halt a government debt crisis undermining confidence in Europe's currency union.The joint eurozone and IMF bailout program comes with strict conditions and makes no money available right now.It...

The Directorate General of Taxation is seeking the dismissal of tax officer Gayus Tambunan for his alleged involvement in a corruption case involving Rp 25 billion (US$2.75 million) of funds.Director General of Taxation M. Tjiptardjo said in Jakarta on Friday that he would request the minister to fire Gayus, who may have fled the country...

Indonesian Employers Association (Apindo) chairman Sofjan Wanandi said Sunday he did not support a Facebook group that was pushing for a boycott of tax payments in a protest against recent corruption by tax officials.Sofjan said he could understand the community’s disillusion at recent corruption among tax officials, but called on taxpayers...

This is the rate of economic growth for the three months that assumes the same level for a full 12 months.It was revised down from 5.9%, in the US Commerce Department's third estimate of fourth-quarter GDP.The main factors behind the revision were weaker personal and government consumption, and lower investment.The figure is significantly...

Prices fell by 1.2% in February from a year earlier, threatening the country's recovery from recession.Japan's economy has been periodically plagued by deflation since the "lost decade" of the 1990s, which led to years of stagnation.The prospect that goods will become cheaper in the future makes consumers reluctant to buy today.This leads...

The Unite trade union said half of BA's 250 planes had been grounded on the first day of the three-day stoppage.But BA says it reinstated flights as so many worked, adding that 97% of cabin crew due to show up at Gatwick did so on Saturday, as did half at Heathrow.The dispute centres on job cuts and a pay freeze. Another four-day stoppage...

Foreign tourists stayed in Bali for an average 8.75 days each last year, down from 13.6 days each in the previous year, an official says.As consequence of the shorter stay, each foreign tourist spent only US$136.9 per day on average, or nearly $12 less than individual average spending in the earlier year.Spokesman for the Bali administration...

Call them the Final Four: The four large cities that have made it through the Great Recession with the smallest increases in unemployment.Minneapolis, Buffalo, Oklahoma City and Rochester, N.Y., don't have much else in common. But a government report shows they've had the smallest increases in joblessness over the past two years among cities with at least 1 million people.None of the four relies on heavy manufacturing industries,...

Gross lending for home loans in the UK rose by 6% in February compared with January to an estimated £9.2bn, the Council of Mortgage Lenders (CML) said.The figures come after a slowdown in January when housing market activity was hit by the weather and the end of stamp duty relief.Lenders said they expected an uneven market in the months ahead.Recovery?The...

Talks between the airline and the Unite union, which represents the crew, collapsed on Friday.A further four days of action are set to begin on 27 March, although BA has said this weekend's action could disrupt flights into next week as well.Cabin crew are striking over pay and working conditions.BA said that 65% of passengers would still...

JP Morgan Chase, UBS, Deutsche Bank and Germany's Depfa bank have been told they will be tried for aggravated fraud, along with 13 other people.The charges relate to the sale of derivates to the city of Milan.JP Morgan denied employees involved had acted inappropriately, while Deutsche and UBS also denied any wrongdoing. Depfa was not available...

The UK must tackle "uncertainty" in plans to cut its deficit, the EU said.EU rules say government deficits must be below 3% of GDP, but the UK's deficit is expected to hit £178bn - or 12.6% of GDP - this year.Germany, France, Spain and Italy were also warned they were over-reliant on economic recovery to meet debt targets.Brussels was commenting...

Asian stock markets were mostly lower Thursday as China's burst of inflation and Japan's weaker growth tempered confidence in the regional economic rebound.Most markets were modestly higher in the first two hours of trading but reversed course as the latest figures raised doubts about the outlook for major economies.Oil prices fell below $82 a barrel amid signs of tepid U.S. crude demand and the dollar lost ground against the...

The U.S. trade deficit unexpectedly shrank in January, reflecting a big drop in imports of oil and foreign cars. American exports also fell, a potential blow to hopes that the economic recovery will be aided this year by U.S. sales abroad.The Commerce Department said that the trade deficit declined to $37.3 billion in January, a drop of 6.6...

As the economy recovers, energy prices are rising and that is placing extra strain on families' budgets.Each spring brings a familiar ritual in gasoline markets — rising prices — and this year won't be an exception. But motorists aren't likely to pay much more than $3 a gallon, on average, during the peak summer driving season.Lingering effects of the recession, such as high unemployment, reduced shipping and limited business...

Asian stock markets rose Friday amid hopes a key U.S. jobs report would show the world's largest economy was on track toward a sustainable rebound.Every major market was higher as the region bounced back from declines the day before. Oil prices extended gains above $80 a barrel, while the dollar strengthened against the yen and the euro.Investors...

More than anything else, people expect their government to create an environment within which they can get on with their lives. Creature comforts add to the quality of life, by reducing the effort required for daily chores. The buying and selling of these simpler pleasures of life are pillars of the economy.The signs for the consumer economy...

National crude demand would exceed 550 million tonnes by 2020, compared with about 400 million tonnes in 2009, National People's Congress member Chen Geng told the China Energy News in an interview published on Monday.Chen, also a former general manager of state-owned China National Petroleum Corp (CNPC), the country's top oil producer, said it was unlikely China would increase domestic oil production above 200 million tonnes...

The average price of regular gasoline in the United States is up 9.58 cents over a two-week period to $2.73.That's according to the national Lundberg Survey of fuel prices released Sunday.Analyst Trilby Lundberg says the average price for a gallon of mid-grade was $2.86. Premium was at $2.97.Cheyenne, Wyo., had the lowest average price among cities surveyed at $2.47 a gallon for regular. Honolulu was the highest at $3.33.In California,...

Toyota Motor Corp. plans Monday to try to undercut suggestions that its electronics systems caused the sudden acceleration problems that led to the recall of more than 8 million vehicles.The automaker plans an event in which it will seek to debunk a critic who claims faulty gas pedals did not cause the sudden acceleration.Toyota will aim to duplicate the scenario created by David W. Gilbert, a professor at Southern Illinois University...