After Fed chief’s dovish taper talk, eyes on US and China data
SINGAPORE - So the long awaited Federal Reserve Jackson Hole gathering has come and gone without causing major calamity to financial markets. At the closely watched symposium last Friday, chairman Jerome Powell indicated that the Fed taper - the pullback on the massive bond-buying programmes unleashed last year - will come before the year end. But he said interest rate hikes are not imminent as there is still "much ground to cover" before the United States economy hits full employment. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.
Are workers more creative in the office?
(NYTIMES) - When Yahoo banned working from home in 2013, the reason was one often cited in corporate America: Being in the office is essential for spontaneous collaboration and innovation. "It is critical that we are all present in our offices," wrote Ms Jacqueline Reses, then a Yahoo executive, in a staff memo. "Some of the best decisions and insights come from hallway and cafeteria discussions, meeting new people and impromptu team meetings." Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.
Japan exits recession as economy rebounds from record slump
TOKYO (AFP, REUTERS) - Japan’s economy exited recession in the third quarter, growing a better-than-expected 5 per cent, government data showed on Monday (Nov 16), as signs of recovery began to emerge after a record contraction. A rise in domestic demand as well as exports helped drive the quarter-on-quarter growth, after the coronavirus pandemic and a consumption tax hike slammed the economy into reverse earlier in the year. The positive figures come after three quarters of contraction in the world’s third-largest economy, with revised data showing the economy shrank 8.2 percent in Q2, more than the previously estimated 7.9 per cent. That was the worst figure for Japan since comparable data became available in 1980, exceeding even the brutal impact of the 2008 global financial crisis. The Q3 growth will be welcome news for Japan’s government, which has avoided the tough lockdown measures seen in some other countries as it tries to balance preventing the spread of coronavirus with protecting the economy. The results also beat economist expectations of 4.4 per cent growth, and analysts said the recovery was likely to continue into the final quarter of the year. “Between July and Sep...