NEW YORK— The plunge in oil has crushed the Russian ruble, erased $80 billion from Exxon Mobil's market value and pushed Venezuela to the brink of economic collapse. But to Justin Thomas, the real drama in oil unfolds on a smaller scale, a story told in tiny, second-by-second moves in prices on his computer screen. "It was quiet, then there was chaos," said Thomas after a...» Read More
"If the world economy gets better, I earn money on commodities. If the global economy gets worse then they will print more money and I will make money in commodities," Rogers said.
European stocks were expected to have a muted open on Monday as investors wait for the latest news from European Union officials on how to resolve the Greek debt crisis.
As euro zone finance ministers meet to discuss the latest plan on the table aimed at solving the Greek debt crisis, one fund manager is warning that Italy and Spain will be downgraded, raising the possibility of "carnage" for global markets.
On Saturday, South Sudan becomes the world's newest country and Africa's 54th state, a process that follows 50 years of bloodshed. Renewed violence on its borders has shaken hopes of a peaceful transition to nationhood, but the fledgling country is not a failed state in waiting, analysts and senior figures in the reconstruction effort told CNBC.com.
The likelihood of Rupert Murdoch's News Corp being given UK government approval to complete its takeover of British Sky Broadcasting has "sharply contracted" over the last 24 hours, Alex De Groote, media analyst at Panmure Gordon told CNBC.
European stocks were expected to open higher on Friday after hitting a five-week high by Thursday's close, following encouraging private sector jobs data in the US and ahead of the government's crucial non-farm payroll report on Friday.
The European Central Bank raised interest rates by 25 basis points to 1.50 percent on Thursday, as it continued to brush off concerns over sovereign debt worries in the euro zone periphery, but President Jean-Claude Trichet hinted that a further rise in August is unlikely.
European policymakers grappling with problems in Greece, Portugal, Ireland and Spain should follow the path set by the Uruguayan government a decade ago, dealmaker William Rhodes told CNBC Thursday.
European stocks were expected to open higher on Thursday after ending Wednesday lower as the Moody's downgrade of Portugal's sovereign credit rating to "junk" status renewed concerns over euro zone debt, ahead of interest rate decisions by the European Central Bank and the Bank of England.
The European Central Bank is expected to raise rates by 25 basis points on Thursday, as indicated in its June press conference, despite ongoing concerns over the euro zone's periphery.
The cost of insuring Portuguese debt against default hit a record high on Wednesday and yields on Portuguese bonds spiked after Moody's cut the country's credit rating to junk and warned it may need another bailout.
Ahead of large-scale protests planned for this Friday, Egyptian Prime Minister Essam Sharaf stressed that the government respects the right of citizens to demonstrate peacefully.
The situation facing European countries like Greece and Portugal is directly comparable to the economic crisis which hit Latin America in the late 1990s, Andy Brough, co-head of Schroders’ Pan European Small and Mid Cap team, told CNBC Wednesday.
European stocks were expected to edge higher on Wednesday after a mixed close on Tuesday and following the decision by credit rating agency Moody's to downgrade Portugal's credit rating to junk status.
Evangelos Venizelos, who was brought in as Finance Minister of Greece two weeks ago, said Greece's part in the euro zone was "not reversible" in a first on CNBC interview Tuesday.
Markets have overreacted to recent concerns on oversupply in soft commodities, and the fundamentals do not support the recent sell-off, Sudakshina Unnikrishnan, analyst at Barclays Capital, told CNBC on Tuesday.
Distressed corporate debt represents an excellent opportunity for investors as political and economic uncertainty rattles global bond markets and small and medium sized businesses struggle to raise capital, Jon Macintosh, manager at closed-ended investment company Acencia Debt Strategies told CNBC.
The current situation in the euro zone is "untenable" and policymakers will have to either pursue greater European economic integration or see countries exit the euro, George Magnus, Senior Economic Advisor, UBS told CNBC Tuesday.
Growth in the euro zone's dominant service sector slowed for a third straight month in June, and by more than an initial estimate, with sluggish new orders dimming the outlook, a survey showed on Tuesday.
European shares are expected to open flat to slightly lower on Tuesday as one-month high equity prices prompt investors to take profits ahead of the euro zone services PMI and retail sales data, which may offer some short-term direction to the market.
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