NEW YORK, Dec 9- U.S. stocks edged higher on Monday, with the S&P 500 closing at a record high, as traders awaited more clues from the Federal Reserve on whether the U.S. central bank would soon begin winding down its economic stimulus. The Dow industrials traded within 43.11 points from session high to intraday low, in the Dow's tightest daily range since Aug. 17, 2012.» Read More
One of the key players in trying to work out a solution is Germany, and I spoke with Axel Weber, President of Germany’s central bank, the Deutsche Bundesbank.
A lack of competitiveness, not credit default swaps (CDS), brought Greece to the brink of financial catastrophe, former Greek Finance Minister Yannos Papantoniou told CNBC.com Wednesday.
The market reaction to the debt crisis in Greece and the euro zone has spooked investors across the world and led to heavy selling of stocks. But is the crisis actually impacting real businesses, given Greece makes up only two percent of euro zone gross domestic product?
Germany's reticence to come to the rescue of the Greek government has been widely criticised across the euro zone.
Whispers of contagion are sending a chill through bond markets, while the euro is likely to fall further and things don't look pretty for stocks. Smart money is likely to go into gold.
There are two known dates and one unknown date that will cause volatility and uncertainty surrounding the Euro. All three will likely occur in the next three weeks.
The bailout of Greece has stirred ferocious debate and fallout in Germany, which has an election shortly.
Mohamed El-Erian, CEO and co-CIO of Pimco, the world’s largest bond investor, said some emerging market economies are doing better than those of developed countries because they had dealt with financial crises years earlier.
Plus, get calls on the banks, autos, retail and more.
While the focus in Washington this week is on the forensics of Goldman Sachs’ actions during the financial crisis, and the outlook for domestic financial regulatory reform legislation, scant attention has been paid to the need for reforms to bring greater safety and stability to the global financial system.
There is no evidence of contagion from the Greek debt debacle to other markets, but the country's woes will help push the euro down, boosting exports for some countries in the single European currency area, David Bloom, global head of foreign exchange research at HSBC, told CNBC Monday.
The German language has been "enriched" by a new word that might well make it into international dictionaries: Sich durchmerkeln.
Among debt collectors, Steven Katz is known as a “credit terrorist.” For years, he has run what he calls the Steven Katz School of Bill Collector Education, otherwise known as the “credit terrorist training camp.”
Greece gave in to market pressure and officially requested financial aid from the European Union and the International Monetary Fund Friday, but analysts and traders say the rollercoaster ride for investors is not over.
Allowing Greece to go bankrupt may cause a lot of pain but it will be better for the single currency in the long run, investor Jim Rogers said in an interview with CNBC on Friday.
With Greek debt continuing to soar at record levels, there is growing concern in some European markets that they too will soon face the same problems.
ACA, the main investor in a failed mortgage-securities deal that prompted fraud charges against Goldman Sachs, appears to have caused some of the $1 billion loss itself, CNBC has learned.
The world economy is clearly in a V-shaped recovery and those talking up a double dip recession are way off the mark, Jim O'Neill, the head of global economic research at Goldman Sachs, told CNBC.com.
The global economy is facing a lost decade or a fully-fledged recession unless policy makers change their ways now, economists at Independent Strategy said.
The sovereign debt crisis facing Europe, which started in Greece, is spreading to many other large economies in the Organization for Economic Cooperation and Development (OECD), according to New York University professor of economics Nouriel Roubini.