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US producer prices rose by a larger-than-expected 1.4% in May after another jump in energy prices, but core inflation at the producer level moderated as forecast.
Companies and their employees are searching for new ways to deal with soaring gasoline prices that have risen to heights unimaginable only a few months ago.
Britain's inflation rate rose in May to its highest since the Labour government came to power in 1997 but the Bank of England played down the risk of early interest rate rises by saying the path for rates was still "uncertain."
German investor sentiment about the outlook for Europe's largest economy fell by much more than expected in June, a closely watched survey showed on Tuesday.
The euro zone unexpectedly swung to a trade surplus in April from a deficit in March, data showed on Tuesday, as the region's strong currency failed to subdue exports and imports expanded quickly.
An online petition urging the European Central Bank not to raise interest rates in July is gaining ground, with people from France, Spain, Italy but also from English-speaking countries adding their signatures.
The U.S. Federal Reserve does not appear to see a compelling case for raising interest rates before autumn unless the inflation outlook deteriorates considerably, the Wall Street Journal said on Tuesday.
Australia's central bank concluded that interest rates were high enough to cool the economy and restrain inflation, at its June policy meeting, minutes showed on Tuesday, though the board stood ready to tighten further should demand not slow as expected.
I had admired Tim for years before I ever knew him personally. As moderator of "Meet the Press" since 1991, he cut a very large swath through our common profession of political journalism..
Oil prices eased Monday as top world producer Saudi Arabia appeared poised to boost production to the highest level in decades to ease a record rally that has threatened global economic growth.
U.S. homebuilder sentiment sank in June to match the lowest level on record set in December, an industry group said.
The Federal Reserve can keep interest rates on hold for the moment but should not repeat past mistakes by leaving them too low for too long, a top Fed policy-maker said Monday.
European shares slid, led by banks, after a gauge of U.S. regional manufacturing fell short of forecasts on Monday, while Lehman Brothers results were in line with the company's estimates on June 9.
The dollar fell versus the euro on Monday, snapping a three-day winning streak, as a jump in euro-zone annual inflation to a record high sealed the case for a European Central Bank interest rate hike next month.
A gauge of manufacturing in New York state contracted in June for the fourth time in five months, the New York Federal Reserve said in a report on Monday that also painted a mixed picture on inflation.
Surging food and fuel prices drove euro zone inflation to a new record high of 3.7 percent year-on-year in May, data showed, cementing expectations that the European Central Bank will raise interest rates on July 3.
China's factories hummed along last month, barely touched by the devastating earthquake in Sichuan. Industrial production growth inched up to 16.0% in the the year to May, topping market forecasts of 15.7%.
European Union foreign ministers start picking up the pieces on Monday after Ireland's "No" to an EU reform treaty cast doubt on whether measures meant to improve the enlarged bloc's working will ever take effect.
The dollar jumped against the euro on Friday and notched up its best week against a basket of currencies since 2005 as mounting inflation fears had investors bracing for Federal Reserve interest rate hikes this year.
For the week ending Friday, June 13, 2008, the markets were mixed on varied economic news, renewed credit concerns from Lehman and the financial sector, and of course, oil. A surprise increase in retail sales gave hope for economic growth and a rising CPI suggested a potential rate move on the horizon that could strengthen the dollar and begin to tame inflation.