Stocks Drop 1% as Fed Tapering Fears, Weak China Data Rattle Markets
Recession
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POSITIVE SIGNS: Germany's central bank expects the country's economy to improve "markedly" in the second quarter. Germany grew only 0.1 percent in the first quarter in part because cold weather delayed the construction season. The European Central Bank expects a gradual recovery in the second half of the year.
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*BoE cuts inflation forecast, raises growth outlook. *Unemployment figures show continued weakness in labour market. LONDON, May 15- Bank of England Governor Mervyn King offered some rare good news for Britain's economy on Wednesday when he presented his final set of economic forecasts before stepping down after more than 20 years at the bank.
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*BoE cuts inflation forecast, raises growth estimate. LONDON, May 15- Britain's central bank lifted a bit of the gloom hanging over the economy on Wednesday, delivering a slightly improved outlook for inflation and growth for the first time since the financial crisis.
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LONDON, May 15- Oil slipped towards $102 a barrel on Wednesday after data showed the euro zone's recession extended to the longest on record, with a rising supply outlook also weighing on prices. Brent crude slipped 16 cents to $102.44 a barrel by 1005 GMT. Germany, the region's largest economy, narrowly dodged falling into recession thanks to a rise in consumption.
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LONDON, May 15- The euro hit a six-week low against the dollar on Wednesday after data showing the euro zone economy contracted more than expected in the first quarter of the year, strengthening the case for another interest rate cut.
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Ebrahim Rahbari, director of global economics at Citi Research, who coined the "Grexit" term, asks if the risks of Greece exiting the euro have really receded.
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DUBLIN, May 15- Ryanair aims to grow much faster than previously indicated over the next five years in a bid to exploit the weakness of mid-tier European rivals struggling with recession, the firm's chief operating officer has told Reuters.
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Bob Parker, senior advisor at Credit Suisse, says that the market discounted the euro zone's continued recession as expectations for the rest of the year are improving.
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LONDON, May 14- Brent crude oil fell towards $102 per barrel on Tuesday, depressed by worries over the prospects for global economic growth and demand after a bearish report from the West's energy watchdog.
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LONDON, May 14- Brent crude oil fell below $103 per barrel on Tuesday, depressed by worries over the prospects for global economic growth and demand after a bearish report from the West's energy watchdog.
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LONDON, May 14- Brent crude oil fell below $103 per barrel on Tuesday, depressed by worries over the prospects for global economic growth and demand after a bearish report from the West's energy watchdog.
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Sharan Burrow, general secretary of the International Trade Union, tells CNBC that five years in to the economic crisis, austerity has failed, international institutions have failed and there's a humanitarian crisis.
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*Large economies of Russia, Poland, Turkey lead slowdown. ISTANBUL, May 10- Europe's development bank slashed its 2013 growth forecasts for emerging Europe and North Africa on Friday by almost a full percentage point, saying a sharp slowdown in Russia would drag down the regional economy. "It's really a story of three big countries- Russia, Poland and Turkey.
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John Lonski, Moody's Capital Markets Research Group; and Joseph Tanious, J.P. Morgan Funds, express their views on the Fed's policy to support Treasury bonds and its impact on the economy.
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CNBC's Rick Santelli shares his reaction to Bernanke's comments that he would keep an eye out for yield, and wonders if the Fed can regulate the marketplace with "accuracy."
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Fed Chairman Ben Bernanke answer question on how the Fed monitors "bubbles" in the economy and "systemic risk" in the markets. Also, Bernanke shares his views on "too big to fail" and breaking up big banks.
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Fed Chairman Ben Bernanke discusses the "legacy" of the financial recession and job loss; and how the Dodd-Frank Act impacted banking regulations and the structure of banking.
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LONDON, May 9- Europe's development bank slashed its 2013 growth forecasts for emerging Europe and North Africa on Friday by almost a full percentage point, saying a sharp slowdown in Russia would drag down the regional economy.
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Italy's economy minister said he did not believe additional tax hikes and spending cuts would be necessary in 2013.
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May 7- Britain may well come to regret the exceptionally long gap between Governor of the Bank of England-to-be Mark Carney's appointment in November and his first day on the job in July.
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NEW YORK, May 6- The U.S. dollar rose against the yen and euro on Monday and U.S. stocks closed at a new record as the outlook for the U.S. economy continued to brighten following last week's strong jobs report. Financial shares led the way on Wall Street, with Bank of America up 5.2 percent after it reached a settlement with bond insurer MBIA Inc..