• Tuesday, July 26, 2016 - 10:00 ANALYSIS: US June New Home Sales +3.5% To 592,000 SAAR 0


    --June Sales Pace Strongest Since February 2008
    --April and May Rates Both Revised To 572,000, Keeps 2Q Above 1Q

    WASHINGTON (MNI) - The pace of new single-family home sales accelerated to a 592,000 seasonally adjusted annual rate in June, well the 551,000 rate expected and the strongest pace since February 2008, data released by the Commerce Department Tuesday showed.

    New home sales in May was revised up to 572,000 from the previously reported 551,000 rate, while April sales were revised down to a 572,000 level from the previously reported 586,000 level.

  • Tuesday, July 26, 2016 - 06:52 China Miners File Iron Ore Dumping Case Against Oz, Brazil 0


    SINGAPORE (MNI) - China's iron ore miners have filed an anti-dumping complaint against iron ore imports from Australia and Brazil with the Ministry of Commerce, according to a statement from the Metallurgical Miners' Association of China.

    More than 20 domestic iron ore miners filed the complaint through the industry association and called for support from other miners.

    "Major international mining companies export large amounts of iron ore to China at low prices, which is clearly dumping behavior that has already caused and will continue to cause material damage to the domestic iron ore industry," the statement said.

  • Tuesday, July 26, 2016 - 04:30 UK June Mortgage Approvals Fall To Lowest Since March 2015 0


    -UK June BBA Mortgage Approvals 40,103 SA Vs 41,842 May

    LONDON (MNI) - Mortgage approvals, a reliable indicator of future housing market activity, fell in June, with the June 23 referendum on membership of the European Union adding to uncertainty.

    Mortgage approvals fell to 40,103 in June, down from 41,842 in May and the weakest outturn since the 39,238 seen in March last year.

  • Monday, July 25, 2016 - 22:06 JAPAN PRESS: Govt To Up Econ Package Real Spending To Y6 Trln 0


    TOKYO (MNI) - The Japanese government has decided to double real fiscal spending estimates (excluding loans and project costs) to Y6 trillion in its latest economic stimulus package due in coming days, the Nikkei newspaper said Tuesday.

    It will also work out plans by year end to upgrade infrastructure for tourism and farming with more efficient investment and create a fund to support the reconstruction of Kumamoto Prefecture in the southwestern region that was hit by major earthquakes in April, the paper said.

    The package is estimated to exceed Y20 trillion as it will include program spending in the budget for the next fiscal year starting in April 2017, the Nikkei said.

    The government is expected to discuss when it...

  • Monday, July 25, 2016 - 20:11 Japan June Biz Service Price Rise Remains at Modest 0.2% Y/Y 0


    TOKYO (MNI) - The Service Producer Price Index with a 2010 base year from the Bank of Japan released Tuesday:

    * Japan's service producer prices +0.2% on year in June for the 36th straight rise after +0.2% in May. A tight labor supply pushed up prices for accommodations and temporary employment agency fees; ocean freight costs posted a larger drop and advertising fees showed a slower rise overall (newspaper ad prices down but Internet ad prices up).

    * Business service prices have been on a modest uptrend in a range of +0.2% to +0.6% in the past year. The pace of increase remains modest, reflecting slow global and domestic demand.

    * The SPPI unchanged on month in June vs.

  • Monday, July 25, 2016 - 14:00 US Financial Stability Watchdog Warns Risks Rise After Brexit 0


    --UK's Exit from EU Threatens US Financial Stability
    --Interest Rate Risk Remains Top Threat to Stability

    WASHINGTON (MNI) - The uncertainty generated by the UK's vote to leave the European Union have pushed risks to the stability of the financial system higher, though the risks remain moderate, the Treasury Department's Office of Financial Research said Monday.

    "The result of the UK referendum surprised financial markets and was a negative shock to investor confidence," OFR Director Richard Berner said. "It introduces months or years of uncertainty about the rules governing the UK's investment, financing, and trade relations...