CNBC's Susan Li looks back at the week's top business and financial stories. Good news for the economy this week, as the Dow reached 18,000 for the first time. Sony released "The Interview." And Walmart announced wage hikes.» Read More
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.
Strong evidence is emerging that consumer spending, a bulwark against recession over the last year even as energy prices surged and the housing market sputtered, has begun to slow sharply at every level of the American economy, from the working class to the wealthy.
U.S. chain stores, reeling from the slowest holiday shopping season in five years, got some more bad news Sunday: 2008 will not be any better and could see changes that may shift the retail playing field forever.
Vacancy rates at U.S. regional malls rose and rents fell during the fourth quarter due to concerns about consumer spending and a potential slowdown in the national economy, real estate research firm Reis said.
Cramer often tells Homegamers to be wary when a new CEO takes the helm of a company. This is the exception to the rule. Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Retailers holding up despite a poor December showing. Don't get too excited; this was one of the most shorted groups on the street. But aside from a short squeeze rally, what would it take to get investors back in a real way? Besides signs that we are not going into a deep recession, the most important factor for retail stock investors is limiting store growth.
Traders are looking at the latest retail sales figures and thinking twice about snapping up crude. According to Thompson Financials combined retail index, November and December sales stalled to 2004 level.
The American consumer is cutting back--even at the most important (and typically extravagant) spending times of the year. That's the one clear headline from all the recent retail numbers. Markdowns ate profits, that's also clear. But figuring out just what's going on with the consumer involves a few shades of gray...
European shares lost ground on Thursday, hitting their lowest point so far this year after the European Central Bank reinforced its willingness to raise rates to counter inflation.
Big box retailers like Wal-Mart and Costco saw sales that exceeded expectations, but most niche retailers saw their sales drop or saw sales grow less than expected.