HONG KONG (AFX) - Hong Kong's leading contender as the next Chief Executive Donald Tsang pledged to stabilize the property and stock markets in a bid to assure foreign and local investors of controlled risk for their investment in the territory.
2005-06-03 10:18:18 UK Q1 construction output unchanged vs Q4; up 1 pct yr-on-yr
LONDON (AFX) - Construction output -- which accounts for around 6 pct of UK GDP -- was unchanged in the first quarter from the fourth quarter of 2004 and rose 1 pct from a year earlier, according to figures released by the Department of Trade and Industry.
2005-06-03 11:10:26 DATAWATCH Forecast-beating euro zone services PMI shows sector resilient
BRUSSELS (AFX) - The euro zone's forecast-beating services PMI report this morning shows the sector is resilient compared with the slumping manufacturing sector, economist said.
2005-06-03 12:12:49 Belgian National Bank says euro collapse after EU treaty rejection is 'absurd'
BRUSSELS (AFX) - Belgian National Bank governor Guy Quaden dismissed as "an absurd scenario" talk that some EU countries will break away from the euro zone in the wake of the French and Dutch rejections of Europe's constitution.
2005-06-03 12:46:11 EU says high oil prices will be focus of next week's talks with OPEC
BRUSSELS (AFX) - The European Commission said high oil prices will be the focus of the EU's talks with OPEC next Thursday.
2005-06-03 12:54:52 EU to ask OPEC to raise output at next week's talks
BRUSSELS (AFX) - The European Commission said it will ask OPEC to raise oil production at talks here with the cartel next Thursday.
2005-06-03 13:03:44 Belgian National Bank sees Belgian GDP up 1.4 pct in 2005, 2.4 pct in 2006
BRUSSELS (AFX) - The Belgian National Bank said it expects the country's economy to grow by just 1.4 pct this year as spending is hit by falling consumer confidence, before recovering to 2.4 pct in 2006.
2005-06-03 13:30:26 U.S. May nonfarm payrolls up lower-than-expected 78,000
WASHINGTON (AFX) - Hiring in the United States slowed in May to weakest in nearly two years, the Labor Department reported Friday. Nonfarm payrolls increased by 78,000, the lowest since August 2003, according to a survey of business establishments. Meanwhile, the unemployment rate slipped to 5.1% from 5.2%, based on a separate household survey. It's the lowest unemployment rate since September 2001. Economists were expecting much stronger job growth of 186,000. Average hourly wages increased 3 cents, or 0.2%, to $16.03 in May. The average workweek was unchanged at a revised 33.8 hours. Total hours worked in the economy increased 0.1%. Factory jobs dropped by 7,000, while service-sector jobs increased by 64,000.
2005-06-03 13:31:24 U.S. payroll growth slows to 78,000 in May
WASHINGTON (AFX) - Hiring in the United States slowed in May to weakest in nearly two years, the Labor Department reported Friday.
2005-06-03 13:49:58 U.S. payroll growth slows to 78,000 in May1
WASHINGTON (AFX) - Hiring in the United States slowed in May to the weakest in nearly two years, the Labor Department reported Friday.
2005-06-03 14:06:35 U.S. payroll growth slows to 78,000 in May2
WASHINGTON (AFX) - Hiring in the United States slowed in May to the weakest in nearly two years, the Labor Department reported Friday.
2005-06-03 14:09:40 Weak jobs report 'seals deal' on Fed pause: economist
WASHINGTON (AFX) -- The weak U.S. nonfarm payrolls report released Friday "all but seals the deal" on the Federal Reserve pausing in its rate hikes, said Sherry Cooper, chief economist for BMO Nesbitt Burns. After one or two more rate hikes this summer, Cooper said the Fed will pause. "Next year, the start of an easing cycle cannot be ruled out, particularly if global growth continues to weaken" she said.
2005-06-03 14:11:02 Lithuanian unemployment falls to 4.8 pct in May vs 5.4 in April
VILNIUS (AFX) - Lithuanian unemployment fell to 4.8 pct in May against 5.4 pct in April and 7 pct a year earlier, the National Statistics Bureau said.
2005-06-03 14:51:21 Fed's Gramlich: No answer for rate conundrum
WASHINGTON (AFX) -- Federal Reserve Board Gov. Edward Gramlich said Friday that investors will "just have to stay tuned" to learn why long-term interest rates continue to fall in the face of short-term rate hikes. "There are a number of theories," Gramlich told a gathering of journalists. "You'd like to think that when you raise short-term rates you know what long-term rates are going to do. We like to feel we know how the economy works," he said. "But I have to say I don't know what's going on there." In a question-and-answer session with reporters, Gramlich gave no indication of future Fed moves but did say monetary policy remains focused on maintaining "price stability and high employment."
2005-06-03 15:05:10 U.S. May ISM nonmanufacturing 58.5% vs. 61.7% April
WASHINGTON (AFX) -- Activity in the U.S. nonmanufacturing sectors slowed in May but remained robust, the Institute for Supply Management reported Friday.
2005-06-03 15:18:19 U.S. May ISM services index slows to 2-year low
WASHINGTON (AFX) -- Activity in the U.S. nonmanufacturing sectors slowed in May but remained robust, the Institute for Supply Management reported Friday.
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