CNBC's Tyler Mathisen looks back at the week's top business and financial stories. A shortened trading week, this week, as Easter is on Sunday. The week ended positive after Janet Yellen reassured investors. Low rates could be around another two years, she said.» Read More
British retail sales unexpectedly fell in December and at their fastest rate in a year, official data showed on Friday, in a sign that consumers reined in spending over the Christmas period.
Europe's major indexes closed lower across the board Thursday despite assurances from Federal Reserve Chairman Ben Bernanke that he would act agressively to counter the risks of a U.S. recession.
You might recall the whole ordeal that ensued when Cleveland Cavaliers guard LeBron James showed up at the first game of the ALDS between the Cleveland Indians and the New York Yankees in a Yankees hat.
U.S. consumer prices rose a modest 0.3 percent in December, slightly worse than expected, while industrial output was unchanged, beating forecasts.
Maria Sharapova trounced a resurgent Lindsay Davenport on Wednesday at the Australian Open. The drubbing gave Davenport only four games in a match that was deemed as an unfortunate second-round draw for the tennis world's most marketable star. Yes, folks, whether it's fair or not, Sharapova will pull in more dough off the court this year than Roger Federer will.
ICR today announced the results of its survey of the institutional investment community on the state of the consumer industry. The findings were released at the 10th annual ICR XChange Consumer/Retail Conference in Dana Point, Calif.
Higher energy and food prices may be hitting many Americans, but fears of a recession are likely to overshadow Wednesday's report on consumer prices.
Anecdotal evidence that the U.S. consumer's marathon spending spree may be slowing to a trot increases daily. By some measures, the U.S. consumer makes up about 19 percent of the world economy and 70 percent of the U.S. economy, so the health of American consumption is key.
Anemic growth is still a gain--even if the holiday season was the weakest in 5 years (up just 3 percent according to the NRF.) But try telling one of the CEOs at last night's Financo dinner that they should look on the bright side and you might get a glass of wine spilled over your head.
European markets ended sharply lower Tuesday, tracking U.S. stocks, which were dragged down by weak retail sales and an announcement by Citigroup of a bigger-than-expected fourth-quarter loss of $9.83 billion.
American shoppers cut back on spending at the nation's retailers by 0.4 percent in December, the most in six months, in a gloomy report that fanned fears of a recession.
Danish headset and hearing aid maker GN Store Nord lost nearly a quarter of its market value on Tuesday after issuing a profit warning for 2007 on lower-than-expected growth at its ReSound and Netcom units.
Retail sales a clear disappointment, dropped futures even more, only good news is Fed has even more room to ease here. Citigroup reported a fourth quarter loss of $1.99, $1.03 expected. Losses were driven by write-downs (of $17.4 billion) and losses in subprime, and an increase in credit costs of $5.4 billion in the consumer loan portfolio (more signs that the consumer is slowing down).
Retail stocks have not reached bottom yet, with worse times seemingly ahead after Britain's biggest retailer reported slowing sales in its core market, analysts said.
Tesco, Britain's biggest retailer, reported slowing sales in its core UK market on Tuesday, missing analyst expectations and sending its shares lower, but showed strong growth internationally.
British fashion house Burberry Group said on Tuesday third-quarter retail sales were "modestly behind our plan" meaning more stock was sold at a discount, sending its shares down 11 percent to an 18-month low.
U.S. consumers are tightening their purse strings, and the squeeze may be severe enough to topple the U.S. economy into recession.
Sliding home values are eroding the equity U.S. households can tap for cash at the sametime banks have grown reluctant to lend, threatening the consumer spending the economy needs to dodge recession.
Stocks closed sharply higher after IBM's improved outlook kicked off a market rally.
Sears Holdings, the operator of Sears and Kmart, said Monday its fiscal fourth-quarter profit will be well below its year-ago results and current Wall Street forecasts as sales at both chains declined over the last nine weeks.