World Economy


  • What the Pros Say: Gold Reaches Record Demand Wednesday, 19 Nov 2008 | 9:11 AM ET

    Stocks spent another day in the red Wednesday as prospects of a deep global recession continued to rattle investors. CNBC's experts question why gold's price has declined while demand for the precious metal, and typically safe-haven stock, has increased.

  • Futures Pare Losses as Consumer Prices Plunge Wednesday, 19 Nov 2008 | 8:38 AM ET

    Stock index futures pared their losses Tuesday after a report showed consumer prices posted their biggest decline in 61 years.

  • Charts Predict: Dow 6,400 in Less than a Month Wednesday, 19 Nov 2008 | 5:52 AM ET

    The Dow Jones Industrial Average is set to sink to 6,400 within the next few weeks, Nicole Elliott, technical analyst at Mizuho Corporate Bank told CNBC.

  • China's Auto Industry Presses Beijing for Bailout Wednesday, 19 Nov 2008 | 12:26 AM ET

    Do Chinese automakers need a bailout? China's auto industry is quietly pressing Beijing for government help as it copes with a jarring slowdown, top Chinese auto executives tell the New York Times.

  • On Tuesday, U.S. legislators heard testimony from Treasury Secretary Hank Paulson and Fed Chairman Ben Bernanke, the TARP bailout seems to ire everyone — and few can agree what to do with the Big 3 automakers. CNBC's experts offered their views on the economy — and actually found reason for investor hope.

  • Mexico Out To Capture LA! (Port Business That Is) Tuesday, 18 Nov 2008 | 12:59 PM ET

    Mexico's economy is struggling even more than ours, as 40 percent of the country's GDP is based on oil, and prices are plummeting (I saw gas in LA this week for only $2.25! Ay carumba!).

  • Statement of FDIC Chairman Sheila Bair Tuesday, 18 Nov 2008 | 10:24 AM ET
    FDIC Chairman Sheila Bair

    Chairman Frank, Ranking Member Bachus, and Members of the Committee, I appreciate the opportunity to testify on behalf of the Federal Deposit Insurance Corporation (FDIC) regarding recent efforts to stabilize the nation's financial markets and reduce foreclosures.

  • Statement by Federal Reserve Chairman Ben Bernanke Tuesday, 18 Nov 2008 | 9:54 AM ET
    Ben Bernanke

    Chairman Frank, Ranking Member Bachus, and other members of the Committee, I appreciate having this opportunity to review some of the activities to date of the Treasury's Troubled Asset Relief Program, or TARP, and to discuss recent steps taken by the Federal Reserve and other agencies to support the normalization of credit markets.

  • Testimony by Treasury Secretary Henry Paulson Tuesday, 18 Nov 2008 | 9:54 AM ET
    Henry Paulson

    Good morning and thank you for the opportunity to testify this morning on implementation of the Emergency Economic Stabilization Act. I am grateful and everyone in this country should be grateful, for the efforts of Chairman Frank, ranking member Bachus, this committee and other members of Congress toward adoption of the financial rescue legislation, which created critically important authorities and financial capacity to stabilize our financial system.

  • Congress To Big Three: Get Your Act Together! Tuesday, 18 Nov 2008 | 9:31 AM ET

    Before flying into Washington D.C. for two days of Congressional hearings, Ford CEO Alan Mulally told me that he's looking forward to talking with U.S. Senators and explaining how Ford is transforming its business.

  • What the Pros Say: S&P Will Fall to 765 Tuesday, 18 Nov 2008 | 7:38 AM ET

    The economic turmoil is continuing to batter stock prices globally, but 2009 could start to peak investors' interest with the extremely oversold levels, one analyst told CNBC Tuesday. Below is a round up of what analysts and investment professionals think about the markets.

  • Citirgoup announces it will significantly cut down its workforce, while pirates who hijacked a crude oil tanker off the coast of Kenya approach a Somali port. Following are today's top videos:

  • Market Pros: Pharma M&A, Recession Cure Ahead Monday, 17 Nov 2008 | 3:36 PM ET

    As recession fears continue to spread globally, investment banks like Goldman Sachs scramble to survive — and investment gurus alter their tactics and strategies to roll with the damage. CNBC's expert advisors gave their outlooks on what's coming and what to do about it.

  • President-elect Barack Obama

    As President-elect Barack Obama rushes from secret job interviews with ex-primary rivals, to briefings on the global financial crisis, to discussions of saving the U.S. auto industry, the post-election period may feel frenetic.

  • Busch: The G20 Way Forward: Spend, Spend, Spend Monday, 17 Nov 2008 | 10:11 AM ET

    After torturing myself by actually reading the entire G20 statement, my conclusion is that this group could now stage an "Up With People" show. The statement had enthusiastic prescriptions for generally what needed to be done, but none of the specifics.

  • Pros Say: A Commodities "Super Cycle" in 2010 Monday, 17 Nov 2008 | 6:42 AM ET

    Global stock markets began the week mixed Monday. Oil prices continued their fall toward $55 a barrel as Japan fell into a technical recession in the third quarter. But CNBC's experts say there will be a commodities super cycle in 2010, once the global economy recovers.

  • S&P 'Armageddon' if Lows Don't Hold: Chartist Monday, 17 Nov 2008 | 5:01 AM ET

    The S&P 500 has retested its lows seen in October, but a further decline from here would signal the bear market has much further to run, Robin Griffiths, technical strategist at Cazenove Capital, told CNBC.

  • UK Faces Sharpest Downturn in 20 Years Monday, 17 Nov 2008 | 3:06 AM ET

    Britain will suffer its sharpest economic contraction in almost two decades next year and the number of people out of work could rise to nearly 3 million by 2010, the Confederation of British Industry said on Monday.

  • Edible Economic Indicators: Spam, Beer Sales Rise Saturday, 15 Nov 2008 | 7:44 AM ET
    Fork and knife, place setting on money, cutlery on napkin with plate, expensive food

    Even as consumers are cutting back on all sorts of goods, Spam is among a select group of thrifty grocery items that are selling steadily. Pancake mixes and instant potatoes are booming. So are vitamins, fruit and vegetable preservatives and beer, according to October  data.

  • Wilbur Ross: Allowing GM Bankruptcy a 'Wrong' Idea Friday, 14 Nov 2008 | 6:17 PM ET

    The U.S. government should provide funding to struggling Detroit automaker General Motors, Wilbur Ross, chairman & CEO of WL Ross & Co., told CNBC on Friday.

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