World Economy


  • Five Economic Challenges Ahead For Obama Tuesday, 4 Nov 2008 | 11:12 PM ET
    Barack Obama & John McCain

    In his run to win the presidency, Barack Obama spoke extensively of reversing the Bush administration's economic plans and taking the country out of recession.

  • Demise of Australia's Allco a Sign of More to Come Tuesday, 4 Nov 2008 | 11:01 PM ET
    Financial Woes

    The collapse of Australian investment firm Allco Finance Group could signal a wave of similar fates for those Australian companies that have relied on cheap debt for funding, analysts said.

  • The New Investment World: Together and Separate Tuesday, 4 Nov 2008 | 9:32 PM ET
    Global Markets

    Barack Obama made history today when he was elected the 44th president of the United States. A page has turned and many are breathing a sigh of relief.  With credit markets thawing and the change in leadership, optimism is starting to emerge.

  • Why the US Market Rallied Even Before Vote Was Over Tuesday, 4 Nov 2008 | 4:37 PM ET
    Barack Obama & John McCain

    The simple notion that this Election Day marked a potential turning point for the economy was enough to boost investors' spirits

  • Euro Shares Close Sharply Higher Tuesday, 4 Nov 2008 | 2:38 PM ET

    European shares closed sharply higher on Tuesday, registering gains for a sixth straight day, as commodities stocks tracked stronger crude and metals prices, and banks rose on hopes the credit sector jitters may ease.

  • Consumer Bankruptcies Soar in October Tuesday, 4 Nov 2008 | 1:28 PM ET

    U.S. consumer bankruptcy filings soared 40 percent in October as home values sank and individual debts ballooned, the American Bankruptcy Institute (ABI) said Tuesday.

  • Fiscal Boost Needed to Lift Economy: Fed's Fisher Tuesday, 4 Nov 2008 | 1:05 PM ET
    Richard W. Fisher

    The United States needs a new fiscal policy boost to complement aggressive steps taken by the Federal Reserve to shield the economy from a global credit crisis, one of its top policy-makers said on Tuesday.

  • Global Stocks Stage Rally As US Votes for President Tuesday, 4 Nov 2008 | 11:45 AM ET
    Barack Obama & John McCain

    Global stock markets rose to a two-week high as investors around the world focused on the US presidential election.

  • World Closely Watching US Election Tuesday, 4 Nov 2008 | 11:26 AM ET
    Presidential Debate

    The world was riveted by the election drama unfolding Tuesday in the United States, inspired by Barack Obama or simply relieved that—whoever wins—the Bush administration was coming to an end.

  • Factory Orders Drop More than Expected Tuesday, 4 Nov 2008 | 10:08 AM ET
    Car Manufacturing

    New orders received by U.S. factories tumbled for a second straight month in September, underscoring the grim economy awaiting the winner of Tuesday's presidential election.

  • Dollar Falls Ahead of Rate Decisions, US Election Tuesday, 4 Nov 2008 | 9:40 AM ET
    Dollars and Euro

    The dollar fell against most major currencies Tuesday as investors await the result of the U.S. Presidential election and look toward central bank meetings later in the week.

  • Borrowing Costs Fall to Lowest Level in 5 Months Tuesday, 4 Nov 2008 | 8:20 AM ET

    The rate at which banks lend dollar funds to each other fell on Tuesday, most notably for periods of a month or longer, pushing benchmark three-month borrowing costs to their lowest in five months.

  • New Law Cuts LA Foreclosures 50% Tuesday, 4 Nov 2008 | 6:23 AM ET
    A home is advertised for sale at a foreclosure auction in Pasadena, California.

    Los Angeles home foreclosures fell sharply in October from September as a new California law came into effect, while the number of foreclosures in Miami continued to grow at a slower rate, real estate research website PropertyShark.com said Tuesday.

  • World Recession Gloom Builds, Australia Cuts Rates Tuesday, 4 Nov 2008 | 12:57 AM ET
    Global Markets

    Australia slashed interest rates Tuesday, presaging cuts expected in Europe later this week in the face of mounting evidence that the global financial crisis has already pushed much of the world into a damaging recession.

  • Australia Surprises with 75 Basis Point Rate Cut Monday, 3 Nov 2008 | 11:31 PM ET

    Australia's central bank cut its benchmark cash rate by a bigger-than-expected 75 basis points on Tuesday, in an increasingly urgent effort to save the economy from the recession rapidly engulfing much of the developed world.

  • Reserve Bank of Australia's Statement on Rates Monday, 3 Nov 2008 | 10:49 PM ET

    The follwing is the text of the Reserve Bank of Australia's statement after it cut interest rates at its monthly policy meeting on Tuesday.

  • Negotiators from Taiwan and China met for their first high-level talks on the island in 60 years on Tuesday, with deals on direct flights, cargo routes and food safety expected to be signed later in the day.

  • Crisis of Confidence: Is Your Bank Safe? Monday, 3 Nov 2008 | 9:04 PM ET

    When it comes to the health of your bank, FDIC coverage is all you need to worry about.

  • Five Economic Challenges Facing the Next President Monday, 3 Nov 2008 | 6:01 PM ET
    Barack Obama & John McCain

    Calling for an economic recovery and making one happen are two very different things. Whoever becomes the 44th US president faces an unenviable task.

  • Stocks Start November With Barely a Flutter Monday, 3 Nov 2008 | 5:15 PM ET

    Stocks were mixed Monday as investors digested a mixed bag of economic data and marched in place ahead of Tuesday's presidential election.

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