South African Finance Minister Pravin Gordhan said the global economy will probably avoid a double-dip recession, and that Africa’s biggest economy is better positioned than most to weather the recent bout of global financial turmoil.
Britons’ disposable income plunged the most in more than a quarter of a century in the first quarter, indicating continued pressure on the economy even as data showed the U.K. avoided a double-dip recession in 2012.
Equities look inexpensive as recent declines can only be justified by a worldwide recession, said Russ Koesterich, the San Francisco-based global chief investment strategist for the IShares unit of BlackRock Inc.
Bank of England policy maker Martin Weale said it would be “naive” to exclude the risk of a double dip in the U.K. economy, the German newspaper Handelsblatt reported, citing an interview with the policy maker.
Bill Treacy retired as executive director of the Texas Public Accountancy Board in 2003. Rehired to the same job a month later, he’s been pulling down both a government paycheck and a pension ever since.