Oil prices rise on Iraq tensions

Concern over oil supplies from Iraq has pushed crude prices higher as the country’s government continues its move against Kurdish forces.   The price of Brent crude rose 1.2% to $57.80 a barrel, while US West Texas Crude climbed 0.8% to $51.90.   Iraq has the second largest output in…

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China third quarter growth meets expectations

China’s economy grew 6.8% between July and September according to official data released Thursday, slowing slightly from the previous quarter.   The growth rate, which compares expansion with the same three months in the previous year, met forecasts. The latest GDP figures are still above Beijing’s annual growth target of…

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Fed urges patience on lagging inflation

Policymakers at the US central bank are growing increasingly concerned about lagging inflation rates.   Many policymakers are worried that the slow pick-up in price increases may be due to long-term trends, not just short-term factors. They urged that “some patience” guide the Fed as it considers plans to raise…

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Further fall recorded in UK productivity

The productivity of UK workers has fallen for the second quarter in a row, official figures indicate.   Hourly output fell 0.1% in the April-to-June period, the Office for National Statistics (ONS) said. This follows a 0.5% decline in the first three months of the year.   Economists have warned…

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