HELSINKI, June 19- Finland on Wednesday slashed the outlook for its economy, predicting it will shrink for the year, raising doubts about its reputation as one of the euro zone's healthiest economies. The finance ministry said it now expects Finland's gross domestic product to shrink 0.4 percent this year instead of growing 0.4 percent as it forecast in March.» Read More
CNBC's Eamon Javers reports the House of Representatives has adjourned for the day, and will reconvene on Tuesday at noon ET; and CNBC's Larry Kudlow weighs in, saying taxing the rich has nothing to do with long-term growth.
Idaho Forest Group hit its own fiscal cliff in 2009, making layoffs and closing mills, reports CNBC's Kate Kelly;
Mad Money host Jim Cramer offers insight on the "fiscal cliff" negotiations and how to play the market now; and CNBC's John Harwood reports the Democrats are troubled by the estate tax provision, saying it is too generous to Republicans.
The House of Representatives will not vote on anything tonight, so the U.S. will technically go "over the cliff," reports CNBC's John Harwood. CNBC's Steve Liesman, has the details on the emerging deal in Washington. Doug Holtz-Eakin, American Action Forum president, and CNBC Contributor Jared Bernstein, weigh in.
Dennis Gartman of The Gartman Letter, discusses the "fiscal cliff" negotiations, investing in housing and banking, and how to play cotton, with the Fast Money traders.
Selling gold stocks for these alternate investments looks like a good idea, says Dennis Gartman, editor of The Gartman Letter.
The House will not vote on the fiscal cliff tonight, and the deadline is hours away, with CNBC's John Harwood and the Fast Money traders; and Cliffs Natural Resources is the best stock performer on the S&P 500 today, however the worst performer year-to-date, reports CNBC's Courtney Reagan.
Tanya Marchiol, Team Investments, explains what to expect from housing in 2013.
*Egypt pound sinks to record low for second day in a row. CAIRO, Dec 31- Egypt's pound fell to a record low on Monday as the president signaled his government would allow it to depreciate slowly for several more days to stop a drain on foreign reserves that has driven the economy into crisis since the fall of Hosni Mubarak.
LONDON/ SHANGHAI, Dec 31- Iron ore jumped to a 8- month high on Monday, posting its biggest monthly increase on record, in December, as falling inventories and renewed confidence about China's economic outlook prompted traders and steel mills to restock.
*Egypt pound sinks to record low for second day in a row. CAIRO, Dec 31- Egypt's pound fell to a record low on Monday as the president signalled his government would allow it to depreciate slowly for several more days to stop a drain on foreign reserves that has driven the economy into crisis since the fall of Hosni Mubarak.
LONDON, Dec 31- European stocks were set to rack up their best yearly gain since 2009 on Monday but the outlook was worsening due to the risk of a politically induced recession in the United States which would dent global growth.
SHANGHAI, Dec 31- Chinese fund managers raised their recommended equity weightings in December to a seven-month high with a strong preference toward financial stocks as an improved economic outlook and market performance boosted risk appetite, the latest Reuters fund poll showed.
CARACAS, Dec 29- Venezuelan inflation reached 19.9 percent in 2012, the central bank said in a preliminary estimate on Saturday, beating its official target thanks to strict price controls that business leaders say are unsustainable in the long term.
CNBC's Eamon Javers reacts to President Obama's statement on the '"fiscal cliff," with Joe Lavorgna, Deutsche Bank; and CNBC's Melissa Lee, Michelle Caruso-Cabrera and Tyler Mathisen.
There is no deal in place, and President Obama is set to speak from the White House on the "fiscal cliff" any minute, with CNBC's Eamon Javers and Rep. Ron Paul (R-TX); and CNBC's Melissa Lee; and the Money In Motion traders. "I believe there is too much bipartisanship on the spending, and nobody is talking about cutting any spending," says Rep. Ron Paul.
Congressional leaders are heading to the White House for a meeting over the "fiscal cliff," reports CNBC's Eamon Javers; Dan Greenhaus, BTIG; Todd Schoenberger, LandColt Capital; and CNBC's Rick Santelli, weigh in.
CNBC's Brian Sullivan reports shares of Herbalife popped 6.8 percent, and the FMHR traders discuss how to trade the stock now; and Alec Young, S&P Capital IQ, explains where he is seeing buying opportunities in the market.
As falling off the "fiscal cliff' becomes more plausible, investor confidence is slipping and the markets are following suit. What does this mean for your portfolio in the New Year? Varick Asset Management's Alison Deans forecasts the potential impact on the markets and the economy overall in 2013.
Elections, the economy and a looming debt crisis in the U.S. and Europe dominated headlines in 2012. What will take center stage in 2013? Washington Post's Ezra Klein and Yahoo! Finance's Mike Santoli make their predictions on what's ahead for Washington, Wall Street and around the world.