|
Site Highlights
NEW!
The Deal Journal Blog:
Updated throughout
the market day with exclusive commentary, news flashes, profiles, data and more, The Deal Journal provides you
with the up-to-the-minute take on deals and deal-makers.
Visit Now >>
|
|
|
|
|
|
Payrolls Shrank Again in June![[Go to article]](http://s.wsj.net/public/resources/images/OB-BT670_10pt_e_20080703101421.gif)
U.S. nonfarm payrolls shrank for a sixth consecutive month, decreasing by 62,000 jobs in June, as businesses retrenched in the face of rising costs and a weak economy. The month's unemployment rate held at 5.5%, after rising sharply in May. A service-sector reading also was downbeat.
|
|
ECB Raises Key Rate![[Image]](http://s.wsj.net/public/resources/images/OB-BT671_10pt_E_20080703101437.gif)
The European Central Bank raised its key interest rate by a quarter-percentage point to 4.25%. Trichet suggested a series of rate increases was unlikely, even as he strove to keep his options open.
Paulson, Darling Warn on EconomyPaulson ended a four-day European trip, joining with U.K. Finance Minister Alistair Darling to warn that the near-term economic outlook remains difficult and the global inflation threat is serious.
WTO Chief: Subsidies Hurt FarmingThe WTO chief said European and U.S. farm subsidies are partly responsible for high food prices because they undermine farming in developing countries.
Group Says Loan Delinquencies RisingCash-strapped U.S. consumers hurt by the weak economy continued to fall behind on credit payments during the first quarter, a trend one financial-industry group said is likely to continue.
China Toughens Capital Controls![[go to article]](http://s.wsj.net/public/resources/images/it_global-trade08282007165440.gif)
China is toughening capital controls with a new system for monitoring funds brought into the nation by exporters.
New Steps to Aid Economy AdvocatedSome economists and lawmakers are advocating some sort of additional stimulus to prop up the economy.
Paulson: Failures Can't Sink SystemPaulson said the near-collapse of Bear Stearns highlights the need for a formal procedure that allows large, non-bank financial institutions to fail without wreaking havoc on the broader financial markets and the U.S. economy.
G-8 Unlikely to Act on PricesThe World Bank called on G-8 leaders to address rising prices at their meeting in Japan next week, but prospects for raising significant food aid were doubtful, and leaders also were dialing back expectations for big breakthroughs on climate change.
Euro Area Faces Spiraling InflationEuro-zone producer prices rose 7.1% year to year in May, the EU said, ahead of an expected ECB rate rise Thursday.
Factory Orders Rise on High PricesFactory orders climbed 0.6% in May, likely boosted by rising prices, while a barometer of capital spending by businesses declined in another sign of weakness in manufacturing and the overall economy.
Developing World Faces Challenges Over Prices
![[go to article]](http://s.wsj.net/public/resources/images/OB-BT296_IMFdir_20080701213133.jpg) | | Getty Images
|
The surge in fuel and food prices is stoking inflation in developing countries and could trigger external financing shocks without a cooperative effort to limit the impact, the IMF said.
Manufacturing Sector ExpandsThe U.S. manufacturing sector expanded in June for the first time in five months, but a gauge of prices paid by manufacturers shot up to the highest level since 1979.
AHEAD OF THE TAPE
Central Banks May Disrupt Dollar's Calm![[go to article]](http://s.wsj.net/public/resources/images/it_dollar09142004171604.gif)
The dollar's stability against the euro could soon end. The ECB is set to raise its benchmark interest rate to 4.25% on Thursday, while the Fed is on hold as it becomes more worried about inflation.
McCain's Trade Focus May Pay OffMcCain is seeking to burnish his free-trade credentials as Democrats use Nafta and China's trade surplus as symbols of the declining competitiveness of U.S. manufacturing.
TAX REPORT By TOM HERMAN
How to Cheat Estate Tax![[Uncle Sam ]](http://s.wsj.net/public/resources/images/OB-BT398_uncle__20080702115449.jpg)
Congress and the next president are expected to reach a compromise on future estate tax rules. Here's a look at what tax plans could lie ahead and how families would be affected by them.
European Recession Fears GrowEuropean recession fears grew as Denmark became the first country to slip into a technical recession and a raft of weak data indicated others could soon follow.
Inflation Up in Developed World, OECD SaysConsumer-price inflation in the developed world rose to a seven-year high in May as energy costs rose, the OECD said.
|
|
Jul 3,
3:08 pm Even as ECB president Jean-Claude Trichet aimed to calm markets by indicating the central bank is not embarking on a series of interest-rate increases after Thursday's quarter-percentage point hike to 4.25%, he may also have rattled some nerves by suggesting policy makers are reviewing the bank's collateral policy and that euro-zone living standards may be [...] Jul 3,
2:50 pm New York Mayor Michael Bloomberg's congestion-pricing plan crashed and burned after he failed to get support from the state legislature. But the New York Times notes today that high gas prices — along with increases in tolls by agencies that run the city's bridges and tunnels — “seem to be doing for traffic in New [...]  Daily analysis of the business of the environment by The Wall Street Journal.
 The Developments blog offers daily headlines, analysis and insight into the housing market.
|
|
Economic Forecasting Survey ![[open interactive graphic]](http://s.wsj.net/public/resources/images/OB-BT563_decofo_20080702181219.jpg)
|
|
| An Advertising Feature PARTNER CENTER |
|
|
|
|
|
|
|
|
|
|
|
|
Economy - WSJ.com
WSJ Digital Network:
Customer Service:
|
|
|
![[vid]](http://s.wsj.net/public/resources/images/it_smvideobullet10192007123051.gif){kind=small}
Environmental Capital RSS Feed
WSJ ECONOMY VIDEOS
