*BlackRock chief points to more pessimistic mood in Davos. Two days after the European Central Bank launched a bold bond-buying drive to revive inflation in the euro zone, a top ECB official warned that Europe's common currency project could come unstuck if the bloc limped on with sluggish growth and mass unemployment. Reviewing the global economic outlook at...» Read More
Australian inflation accelerated further above the central bank's comfort zone in November as petrol prices climbed, a private survey showed on Monday, suggesting interest rates might yet have to rise further.
The dollar surged against a basket of major currencies Friday and was on track for its biggest weekly gain in more than a year on profit-taking in the euro and month-end squaring up of positions by corporates.
The U.S. Treasury Department and mortgage industry leaders are putting the final touches on a plan that could save struggling homeowners from foreclosure by freezing interest rates before they reset sharply higher.
Economists say the Fed is almost certain to lower interest rates Dec. 11, but key economic data in the week to come will determine if its a quarter point or half a point.
The U.S. economy is continuing to show weakness in everything from personal spending and income to construction spending, according to several reports out Friday
Federal Reserve Chairman Ben Bernanke said on Thursday a resurgence in financial strains in recent weeks had dimmed the outlook for the U.S. economy, signaling an openness to lowering interest rates again.
Euro zone inflation jumped more than expected in November to its highest in six and a half years and inflation expectations rose while economic sentiment worsened, highlighting the European Central Bank's rate dilemma.
German retail sales posted their steepest decline in October since a value-added tax increase sent them plunging at the start of the year, in a sign that consumers are increasingly worried about higher energy and food prices.
Higher energy and food prices saw Japan's core consumer prices record their first annual rise in 10 months in October, but the modest 0.1 percent gain only slightly boosted expectations of a rate hike early next year.
The dollar rallied against most major currencies Thursday, buoyed by demand from U.S. corporations seeking to square their books by the end of the month.
Softer-than-expected new-home sales and a surge in jobless claims heightened fears of a steep U.S. economic slide.
The White House lowered its U.S. economic growth forecast for 2008 Thursday because of trouble in the housing and credit markets, but said the economy remained resilient and a six-year expansion would continue
The U.S. economy grew at a robust 4.9% rate in the third quarter, but a surge in jobless claims last week signaled a major slowdown in the fourth quarter.
Australian business investment unexpectedly fell last quarter as the booming mining sector took a breather, though firms still upgraded already ambitious spending plans for coming months.
Japan's industrial production rose in October from September, signalling firm corporate activity and steady exports, but the data did little to alter views that the Bank of Japan will not raise interest rates until next year.
Bear Stearns is only the latest Wall Street firm to cut jobs. In recent months, U.S. banks and financial service companies with banking operations having been slashing tens of thousands of positions.
The Fed's No. 2 official signaled a willingness to cut interest rates further, saying renewed financial market turmoil could slow the economy more than thought.
The economy grew at a slower pace in the late fall as shoppers watched their pennies heading into the busy holiday season.
The economy may avoid a recession in the year ahead but it's almost certain that there will be months of slow growth.
The dollar rallied to one-week highs against the euro, the yen and the Swiss franc Wednesday with investors betting the U.S. currency's recent slump to multiyear lows had gone too far.