Beef demand is up, and supplies are down, reports CNBC's Jane Wells. One California rancher Bud Sloan is having to buy feed because of the drought, and has cut his herd nearly in half.» Read More
U.S. consumer confidence declined for the third month in a row in October to its lowest level in two years on growing concerns about weakening business conditions and the impact that could have on the job market.
The United States is strongly committed to a strong U.S. dollar and financial markets there are recovering from the subprime loan crisis even if the housing market has yet to touch bottom, U.S. Treasury Secretary Henry Paulson said on Tuesday.
The Federal Reserve is expected to lower interest rates again this week as insurance against the threat that declining home prices and higher borrowing costs will push the economy into recession.
A Federal Reserve interest rate cut this week is no sure thing and officials are not seriously considering a half-point reduction in overnight rates, the Wall Street Journal reported on Tuesday without citing sources.
China must continue to liberalize its exchange rate regime and key areas of the economy to ward off overheating but should be cautious about opening strategic sectors to foreign investment, a top official said on Tuesday.
Unemployment in Japan rose to 4.0 percent last month, reinforcing expectations the Bank of Japan will delay its next rate rise, but household spending jumped.
Japanese retail sales rose unexpectedly in September from a year earlier, government data showed on Monday, suggesting consumer spending may be picking up in accordance with moderate improvement in workers' income conditions.
The Bank of Japan is seen cutting its growth and inflation forecasts and stressing more the downside risks, as markets push back still further into next year expectations of when the central bank will next increase rates.
China will stay the course on monetary tightening and keep a lid on money supply and credit growth, a top central bank official said.
Japanese core consumer prices fell from a year earlier in September, as expected, marking the eighth straight month of decline and doing little to change expectations that the Bank of Japan's monetary policy will be on hold for now.
Orders for big-ticket manufactured goods unexpectedly fell again in September, raising new worries about how much harm a severe housing slump and credit crunch are causing the overall economy.
American billionaire investor Warren Buffett said Thursday he remains negative on prospects for the U.S. dollar and that problems in the U.S. subprime mortgage sector may continue to cause problems for some time.
New Zealand's central bank held interest rates steady at 8.25 percent on Thursday, as expected, but said rising food prices and increased government spending were adding to persistent inflation pressures.
Underlying inflation in Australia speeded past expectations last quarter to hit the very top of the central bank's target range, sharply lifting the risks of a hike in interest rates as early as next month.
Japanese exports to the United States fell in September from a year earlier at the fastest pace in four years but overall exports rose, pushing the trade surplus up to a record high.
The U.S. economy still faces pressure from a drawn-out housing-market slowdown but will "probably not" slip into recession as a result, former Federal Reserve Chairman Alan Greenspan said Tuesday.
Chicago Federal Reserve Bank President Charles Evans said on Monday that outside of housing the U.S. economy is "moving forward," and that the Fed could not afford to go soft on inflation.
Marc Faber, editor and publisher of The Gloom, Boom & Doom Report, thinks the worst is yet to come for the global economy. Appearing on CNBC's "Squawk Box," the economist and managing director of Marc Faber Ltd., explained his bearish outlook -- and offered advice for how to play a glum market.
Australian producer prices rose faster than expected last quarter, led by higher food and construction costs, fueling concerns consumer inflation could accelerate enough to provoke another hike in interest rates.
World Bank President Robert Zoellick on Sunday won support from bank member countries for his strategy to lead the poverty-fighting institution for the next five years, including plans to give the private sector a bigger role in poor countries.