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IMF calls Japanese government to spend more

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The Japanese economy is likely to grow less rapidly than expected this year. The International Monetary Fund (IMF) has lowered the country’s growth estimate to 0.8 percent, from 0.9 percent previously. It was the third time this year that the fund lowered the estimate. With the lower estimate, the institute points among other things to the slowdown in the global economy. According to the...

France expects to get 2.2 billion on 5G spectrum sale

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With the auction of spectrum licenses for 5G, or super fast mobile internet, the French government wants to raise at least 2.2 billion euros. That said the French State Secretary for Economic Affairs. That amount is considerably higher than the recommendation of the French telecom regulator Arcep. He had advised a maximum price of 1.5 billion euros. The French telecom watchdog also took into...

Not yet dead but definitively trying: German economy shows 0.1 percent quarterly growth

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Germany’s economy showed a growth of 0.1 percent on a quarterly basis in the third quarter. The German Federal Statistical Office reported this on the basis of a definitive figure. The figure corresponds to a provisional estimate. With that small growth in the last quarter, Europe’s largest economy managed to prevent a technical recession, as the second quarter still saw a contraction...

European statistics data published: EU and Euro zone inflation, export performance

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Inflation in the eurozone fell to 0.7 percent on an annual basis in October, from 0.8 percent in September. The European statistics agency Eurostat reported this on the basis of a definitive figure. The figure corresponds to an earlier estimate. Core inflation, without the influence of the sharply fluctuating prices for energy and food and beverages, rose to 1.1 percent from 1 percent in...

Germany narrowly escapes recession for now

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The German economy grew by 0.1 percent in the third quarter, according to preliminary figures from the German statistics agency Destatis. Due to growth, the German economy is avoiding a recession; Germany’s economy contracted in the second quarter. The economy of our eastern neighbors is driven in particular by higher consumer spending, the statistics office writes. In addition to higher...

Inflation in Germany confirmed at 1.1 percent

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Inflation in Germany came to 1.1 percent on an annual basis in October, from 1.2 percent a month earlier. The German Federal Statistical Office reported this on the basis of a definitive figure, which corresponds to a provisional estimate. German consumer prices rose by 0.1 percent on a monthly basis. On the basis of the European harmonized measurement method, German inflation amounted to 0.9...

Rome is considering emergency loan for Ilva factory

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The Italian government is considering rescuing the Ilva plant with a bridging loan if ArcelorMittal steel group abandons the takeover of the gigantic steel plant in southern Italy. The Italian newspaper Il Messaggero writes that, without mentioning where it got that information. The loan would amount to 700 million to 800 million euros. This should keep the bankrupt factory up and running while...

Steel companies in the US raise prices

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Large steel companies in the United States are raising their prices after having offered substantial discounts earlier this year in order to attract customers. These are, for example, Nucor, ArcelorMittal and U.S. Pat. Steel. Steel prices in the US have fallen by 32 percent since the beginning of this year, putting pressure on the profitability of steel producers. Furthermore, the demand for...

Goldman Sachs accused in deploying ‘sexist’ algorithms

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A financial watchdog in the state of New York has launched an investigation into possible sexism in determining credit card limits by Goldman Sachs. The bank denies the accusations. The research follows a series of angry tweets from entrepreneur, web developer and bestselling author David Heinemeier Hansson, founder of project development site Basecamp.com. The Dane expresses his dissatisfaction...

Germany’s goods exports September report is better than expected

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Germany’s goods exports rose more strongly than expected in September. This is apparent from figures from the German Federal Statistical Office. Exports increased by 1.5 percent compared to August, when there was a revised decrease of 0.9 percent. Economists had expected on average that German exports would increase by 0.3 percent before September. The value of German goods exports amounted...

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