Global Economy
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Switzerland is set to bow to years of pressure from the EU by overhauling the system of tax privileges that has helped entice thousands of multinational firms to the country.
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Maybe it's because of the Iowa caucus' taking place Wednesday night. Maybe it's because at the start of a new year, it's a good time to make predictions. Or maybe it's because the auto show season is about to kick off with the automakers putting out their visions for the future. Whatever the reason, I think today is the day to ask YOU which automaker has the most to show, prove, gain, lose in 2008?
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U.S. factory activity contracted in December, ending 10 consecutive months of expansion, with activity falling to its weakest since April 2003, according to an industry report released Wednesday.
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After pumping in billions of euros to banks eager for cash in December, the European Central Bank on Wednesday said it would -- as expected by money markets -- remove much of that money.
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Asian markets kicked off the new year under pressure on worries about a slowing global economy. But oil and gold prices continued to edge higher approaching record highs.
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Singapore's trade-driven economy shrank for the first time since 2003 in the fourth quarter as weak manufacturing dragged on growth and momentum is expected to weaken further in 2008.
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China's economic growth and consumer price inflation are expected to slow moderately thisyear as cooling policies take effect and food supplies increase, a major government research institute forecast on Wednesday.
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The dollar rallied against the euro but slipped against the yen in the final trading day of 2007 Monday, though dealers resisted making big bets until volume increases after New Year's Day.
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U.S. crude futures finished a volatile session slightly lower, slipping from an earlier high in thin, pre-holiday trading as traders squared books at year's end and January products futures contracts approached expiration.
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Pakistan will delay parliamentary elections by at least four weeks after a wave of violence triggered by the assassination of Benazir Bhutto.
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European equities ended flat on Monday in thin trade as key markets stayed closed, with the region notching a slender gain of 1.5 percent in 2007, its worst performance since 2002 as a credit crunch whacked stocks.
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European stocks had a turbulent second half in 2007 and are still in largely in recovery mode as the year draws to an end.
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How did you do this year? Was it Germany, up 22%, or Italy, down 7%? The past year turned out to be a game of two halves and the footballing metaphor has become the favorite shorthand among the strategists for 2008. That almost certainly means it won't be, but let's run with the metaphor for a little while longer.
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Asian stocks were mostly higher Monday in thin holiday trading, with most investors away to usher in the new year. But Pakistan's shares slid in its first reaction to the assassination of former prime minister Benazir Bhutto whose death last week plunged the country into one of its deepest crises.
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British Prime Minister Gordon Brown got a boost from an opinion poll on Sunday and said his priority for 2008 would be steering Britain's economy through the fallout from the global credit crunch.
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Pakistan's Election Commission will decide on Tuesday whether to postpone a Jan. 8 general election meant to complete a transition to civilian rule, a commission official said on Monday.
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The assassination of Benazir Bhutto in Pakistan immediately echoed through the U.S. presidential campaign, allowing various candidates to emphasize their national security credentials. ... But for now, the issue that has risen most rapidly in the 2008 debate is the weakening economy.
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Stocks finished little-changed after another up-and-down session.
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The dollar fell across the board Friday as data showing a 9 percent decline in sales of new U.S. homes last month heightened concern about the economy, putting the greenback on track for its worst week in more than a year.
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For sale: Auto company with a colorful, if unspectacular, track record. Located in the fast-growing Eastern Europe market, with plenty of capacity for building new models. The prize property on the block? Yugo! Yes, that Yugo!
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Pakistan's brief period as a destination for adventurous investors seems over for now, as the killing of opposition leader Benazir Bhutto brings fresh instability to an already volatile nuclear-armed nation.