Trade Surplus News
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U.S. stocks recovered from early losses for a second day as investors weighed prospects of economic growth with concern the Federal Reserve will reduce stimulus efforts. Japanese shares rebounded from their largest drop since 2011, while commodities fell for a fourth day.
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The European Union agriculture trade surplus was 12.6 billion euros ($16.4 billion) last year, putting it second behind the U.S. in world exports.
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The Australian dollar fell before U.S. data forecast to show orders for durable goods rose in April, adding to signs of a sustained recovery in the world’s largest economy and diminishing the need for monetary stimulus.
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Euro-area consumer confidence increased for a sixth consecutive month in May, adding to signs the euro area is starting to emerge from a record-long recession.
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A euro-area services and factory output gauge increased more than economists forecast in May, adding to signs the currency bloc is starting to emerge from its record-long recession.
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New rules from China to control capital inflows are likely to end commodity-financing deals, hurting the short-term outlook for copper, analysts at Goldman Sachs Group Inc. wrote in a research report today.
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China’s foreign-exchange regulator told banks to improve checks of customer documents related to special trade zones amid speculation that the areas have been exploited to disguise capital inflows as exports.
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Some Chinese banks have stopped issuing letters of credit for copper importers after a government crackdown on hot-money inflows, the National Business Daily reported today.
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China’s trade surplus is one-tenth the official $61 billion reported so far this year after accounting for fake transactions used to disguise hot-money inflows, Bank of America Corp. says.
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Grupo Isolux Corsan SA’s task of laying power lines across the Amazon jungle ran into an unexpected obstacle last year when Brazil took more than six months to grant visas for 200 specialized Chinese workers.
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