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  • 2015-04-24 16:46


    --Google, IBM, Zillow, Esri, Intel, Many Others Tackle Econ Data

    WASHINGTON (MNI) - Bubbling out of an unprecedented gathering Friday of executives of government agencies and those from Google, Microsoft, Zillow, Intel, IBM and many other firms on the leading edge of data products were visions of weekly GDP reports, daily housing starts data and smart-phone apps that open up access to huge stores of government information.

    The inaugural meeting of the 19-member Commerce Data Advisory Council at Google's Washington headquarters ended with the organization of working groups to report back to the next meeting to further develop 10 recommendations boiled down from two days of brainstorming.

    The discussions ranged from how to use Silicon Valley job mobility to

  • 2015-04-24 12:35


    By Johanna Treeck

    FRANKFURT (MNI) - Bundesbank board member Joachim Nagel said Friday that financial markets currently treat Greece in isolation but cautioned that it was hard to project market reactions should Greece default.

    Euro area government bond spreads suggest that "financial markets currently treat Greece as an isolated case" and that contagion risks have significantly diminished, Nagel said at the International School of Management in Frankfurt.

  • 2015-04-24 11:50


    By Karen Mracek

    WASHINGTON (MNI) - While the drop in oil prices over the past nine months caused a significant shock to the Canadian economy, Bank of Canada Governor Stephen Poloz said Friday he expects a lot of positives are coming soon.

    "This drop in oil prices is a very significant shock for the Canadian economy," Poloz said in a panel discussion at the Export-Import Bank of the United States's annual conference.

  • 2015-04-24 08:35


    By Martin Baccardax

    LONDON (MNI) - European investors will look to two significant indications of the impact of the European Central Bank's quantitative easing programme is having on the real economy this week as the region's recovery shows signs of a modest slowdown in the second quarter.

    Flash April HICP figures from Eurostat Thursday (11:00 CET) may offer a hint as to the power of the Bank's asset purchase programme in not only lifting inflation expectations but also in influencing consumer price developments around the Eurozone.

  • 2015-04-24 07:16


    Repeats Story Initially Transmitted at 00:15 GMT Apr 24/20:15 EST Apr 23

    --House Ways & Means Panel Approves TPA on 25 to 13 Vote
    --Rep. Ryan Touts 'Carefully Crafted' TPA Package

    WASHINGTON (MNI) - After a nearly eight hour long mark-up, the House Ways and Means Committee approved legislation Thursday evening renewing Trade Promotion Authority.

    The House Ways and Means Committee passed the bill on a 25 to 13 vote, having rejected all amendments that would have made major changes to the bill.

    The TPA bill will go to the full House in the coming weeks.

  • 2015-04-24 06:22


    -- adds economists' comments in last two paras

    FRANKFURT (MNI) - Germany's benchmark business confidence indicator continued to rise in April, jumping to its highest level in ten months but slipping expectations indicate that a peak may have been reached.

    Ifo's business climate rose to 108.6 points, the institute announced Friday, up from 107.9 in March, recording the sixth consecutive monthly increase and coming out ahead of the MNI median forecast of an increase to 108.3.

  • 2015-04-24 04:16


    -- Expectations drop for first time since last October

    FRANKFURT (MNI) - Germany's benchmark business confidence indicator continued to rise in April, jumping to its highest level in ten months but slipping expectations indicate that a peak may have been reached.

    Ifo's business climate rose to 108.6 points, the institute announced Friday, up from 107.9 in March, recording the sixth consecutive monthly increase and coming out ahead of the MNI median forecast of an increase to 108.3.

  • 2015-04-24 04:03


    BEIJING (MNI) - Chinese market interest rates fell this week after a bigger-than-expected reserve cut pointed to a more aggressive pace of policy easing by China's cautious monetary authority.

    But some traders in the interbank market are already moving on, calling on the PBOC to adopt unconventional policy tools to get funding to the market.

    Despite earlier government denials, they now expect the central bank to soon begin a program similar to quantitative easing to expand its range of tools for providing liquidity while at the same time helping Beijing meet its structural reform goals.

    There's no indication this idea is being formally discussed by decision-makers yet.

  • 2015-04-24 04:00


    By Steven Arons

    FRANKFURT (MNI) - Swiss National Bank President Thomas Jordan said Friday that the Swiss franc was still overvalued, acknowledging the harsh economic realities created by the strong currency and stressing that the Bank is ready to intervene in foreign exchange market if it saw the need, according to prepared remarks.

    Speaking at the central bank's General Meeting of Shareholders in Zurich, Jordan added that he nonetheless expected the overvaluation to decrease on its own, thus suggesting both that he hoped no further monetary intervention would become necessary and that the SNB would get active again if that hope did not materialise.

  • 2015-04-24 01:34


    Repeats Story Initially Transmitted at 00:15 GMT Apr 24/20:15 EST Apr 23

    --House Ways & Means Panel Approves TPA on 25 to 13 Vote
    --Rep. Ryan Touts 'Carefully Crafted' TPA Package

    WASHINGTON (MNI) - After a nearly eight hour long mark-up, the House Ways and Means Committee approved legislation Thursday evening renewing Trade Promotion Authority.

    The House Ways and Means Committee passed the bill on a 25 to 13 vote, having rejected all amendments that would have made major changes to the bill.

    The TPA bill will go to the full House in the coming weeks.