World Economy


  • EIA: Gas Prices to Stay Above $4 For Rest of 2008 Tuesday, 8 Jul 2008 | 12:57 PM ET

    Gasoline prices will remain above $4 a gallon for the rest of the year, while oil prices will continued to be pressured by the tight market for crude, the U.S. Energy Information Administration said on Tuesday.

  • Euro Shares Sink on Fresh Bank Worries Tuesday, 8 Jul 2008 | 12:31 PM ET

    Fresh concern about banks' financing hit European shares on Tuesday, although a drop in the oil price and an investor sweep into safe-havens like drugmakers and telecoms helped stem the slide in the broader market.

  • Siemens to Cut 16,750 Jobs Amid Economic Downturn Tuesday, 8 Jul 2008 | 11:46 AM ET

    German industrial conglomerate Siemens  plans to cut around 4 percent of its workforce as part of an overhaul and as a result of the global economic downturn, Siemens said on Tuesday.

  • Wholesale Inventories Post Slight Rise in May Tuesday, 8 Jul 2008 | 10:04 AM ET

    U.S. wholesale inventories rose 0.8 percent in May, just slightly more than expected, but a measure of how long it would take to sell current stocks fell to a record low on strong sales of apparel and petroleum, a Commerce Department report showed on Tuesday.

  • The conventional wisdom on Alcoa is pretty simple: surging energy costs + aluminum price increases that lag other commodities = unimpressive profits. Unless the metals giant surprises (nearly) everyone, earnings season is set to start with a whimper.

  • Bernanke: Fed May Extend Wall Street Lending Tuesday, 8 Jul 2008 | 8:20 AM ET

    Federal Reserve Chairman Ben Bernanke said Tuesday the U.S. central bank may keep an emergency lending facility for big Wall Street firms open past year-end while it seeks to restore financial market stability.

  • Just the Beginning of a Long Stock Slide? Tuesday, 8 Jul 2008 | 8:15 AM ET

    The slump in global stock prices could just be getting started as a few months of declines may not be enough to correct the years of booming stock prices, investment managers told CNBC.

  • Survey Shows Risk of UK Recession Tuesday, 8 Jul 2008 | 3:47 AM ET

    Falling sales in a weak home market have left British firms facing their worst cashflow situation since records began in 1992, a survey from the British Chamber of Commerce showed on Tuesday.

  • South Korea Unloads Dollars to Defend Won Tuesday, 8 Jul 2008 | 2:59 AM ET

    South Korea's foreign exchange authorities followed up on morning dollar sales to lift the won, selling a further $500 million in the afternoon on Tuesday and bringing the day's intervention to as much as $2 billion, traders said.

  • Australia June Business Confidence at 7-Year Low Monday, 7 Jul 2008 | 10:39 PM ET

    Australian business conditions deteriorated sharply in June as profits and sales fell from the previous month, providing further evidence the economy was cooling and relieving some of the pressure for more rate hikes.

  • Dollar Falls as U.S. Stocks Extend Declines Monday, 7 Jul 2008 | 4:17 PM ET

    The dollar fell against the euro and erased gains versus the yen Monday as U.S. stocks deepened losses on worries about the credit crisis and the health of the financial sector.

  • Falling Dollar Makes America Dirt Cheap Monday, 7 Jul 2008 | 2:18 PM ET
    Dollars and Euro

    The almighty dollar is mighty no more. It has been declining steadily for six years against other major currencies, undercutting its role as the leading international banking currency. The long slide is fanning inflation at home and playing a major role in the run-up of oil and gasoline prices everywhere.

  • Utilities, Energy Push Euro Shares Higher Monday, 7 Jul 2008 | 1:06 PM ET

    European stocks rose on Monday, driven by utility shares as merger speculation boosted Iberdrola, and by a drop in the price of crude oil.

  • Fed's Yellen Says Rate Policy at Crossroads Monday, 7 Jul 2008 | 12:00 PM ET
    Janet Yellen

    U.S. interest rate policy is "nearing a crossroads" now that worst-case scenarios for growth have been skirted by the Federal Reserve's aggressive string of rate cuts, San Francisco Fed President Janet Yellen said Monday.

  • The Politics Behind Iraq's Kurdish Oil Monday, 7 Jul 2008 | 11:15 AM ET

    There some American investment for oil drilling going into the Kurdish region of Iraq ... and it has the potential to start a fight.

  • Why Investors Shouldn't Shy Away From Private Equity Monday, 7 Jul 2008 | 10:54 AM ET

    The “Golden Era” of private equity was an “aberration” and contributed to halting private equity investments in 2008, said Steve Rattner, managing principal of Quadrangle Group.

  • Even the Wealthy Are Being Prudent Monday, 7 Jul 2008 | 5:24 AM ET

    The music doesn't sound so sweet over at high-end audio-visual equipment maker Bang & Olufsen. The Danish company announced a downgrade on profit expectations for the year this morning.

  • S. Korea Warns of Currency Intervention Monday, 7 Jul 2008 | 3:19 AM ET

    South Korean authorities warned markets on Monday they would defend the won aggressively to rein in inflation, boosting the currency and reinforcing expectations the central bank will keep interest rates steady this week.

  • Japanese Flag

    Japanese corporate profits are falling while consumer prices are expected to keep rising due to high oil and food costs, Bank of Japan Governor Masaaki Shirakawa said, underlining the central bank's policy dilemma as it juggles the risks of slowing growth and rising global inflationarypressure.

  • Bush Backs Strong Dollar Policy Sunday, 6 Jul 2008 | 7:57 AM ET

    U.S. President George W. Bush said on Sunday the American economy was not growing as quickly as he would like and that his administration supported a strong U.S. dollar policy.

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