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World Economy

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  • Toyota Prius

    Australia's government is to inject an extra $2.3 billion into the ailing car industry to offset tariff cuts and a global economic slowdown, Prime Minister Kevin Rudd said on Monday.

  • China Wholesale Inflation Slides, Rate Cut Looms Sunday, 9 Nov 2008 | 10:38 PM ET
    China, Chinese Flag

    China's wholesale price inflation tumbled in October, clearing the way for the central bank to cut rates at any time to support a massive stimulus package aimed at shoring up the world's fourth-largest economy.

  • Japan's Third-Quarter Machinery Orders Slump Sunday, 9 Nov 2008 | 8:41 PM ET
    Japanese Flag

    Japan's core machinery orders posted their biggest quarterly fall in a decade in July-September and manufacturers expect only a small rebound in the last quarter of the year, boding ill for capital investment as the economy teeters on the brink of recession.

  • Australia's RBA Cuts Economic Growth Forecasts Sunday, 9 Nov 2008 | 7:52 PM ET

    Australia's central bank lowered its forecasts for economic growth  for the next two years, saying it would be reviewing interest rates in the months ahead with the aim of  avoiding an even sharper slowdown in domestic demand.

  • G20 Sees More Action, China Moves to Boost Economy Sunday, 9 Nov 2008 | 6:40 PM ET

    China launched a huge stimulus plan worth nearly $600 billion, kicking off what could be a round of big spending or interest rate cuts by leading economies to stave off a recession in many countries.

  • Vanishing Jobs, Stressed Consumers Feed Downturn Friday, 7 Nov 2008 | 10:56 AM ET

    The nation's unemployment rate is at a 14-year high, General Motors reported a massive third-quarter loss and says it may run out of cash next year, and Ford is planning more job cuts after burning through billions of its own.

  • What the Pros Say: 300,000 Jobs Lost in October Friday, 7 Nov 2008 | 8:11 AM ET

    The Labor Department releases October's employment numbers at 8:30 am New York time Friday, with a big drop in nonfarm payrolls predicted.

  • Asian markets ended the week mixed Friday, while European markets opened higher after two days of selloffs. CNBC's experts say sit tight and wait -- maybe a long time -- for a stock comeback.

  • Mohamed El-Erian, co-chief executive officer of Pacific Investment Management Co.

    President-Elect Barrack Obama should attend the upcoming summit of the G20 developing and industrialized countries in Brazil to show that the US has a truly international leader, Mohamed El-Erian, Co-CEO of Pimco, told CNBC Friday.

  • US Economy 'Has Fallen off a Cliff': El-Erian Friday, 7 Nov 2008 | 4:02 AM ET

    The nonfarm payrolls data may be even worse than the consensus estimate, as the U.S. economy is taking further blows from the financial crisis, Mohamed El-Erian, Co-CEO of Pimco, told CNBC Friday.

  • South Korea Cuts Rates For Third Time In a Month Thursday, 6 Nov 2008 | 8:31 PM ET
    Korea, Korean Flag

    South Korea's central bank cut its benchmark interest rate on Friday by a quarter point, as expected, its third cut in a month to try to calm markets and boost the economy in the face of the global financial crisis.

  • After Huge Two-Day Selloff, Stocks Near Recent Lows Thursday, 6 Nov 2008 | 4:19 PM ET

    Forget a post-election rally. Stocks now appear likely to retest their most recent lows—and  possibly head even lower.

  • Global Interest Rates Drop, US Dollar Rises Thursday, 6 Nov 2008 | 12:28 PM ET

    Following rate cuts from the Fed, China and Japan last week, the Bank of England and European Central Bank slashed their key interest rates today.   Central Banks from around the world are modifying their monetary policies in a coordinated effort to contain the impact of the global financial crisis. 

  • Holiday Outlook Gloomier After Weak October Sales Thursday, 6 Nov 2008 | 11:16 AM ET

    Retailers are reporting some of the weakest sales in more than a decade as consumer spending dried up in October amid the uncertainty brought on by the financial crisis and mounting layoffs.

  • GM: Cash Is More Than "King" For Survival Thursday, 6 Nov 2008 | 11:14 AM ET

    How much time does GM have? It's not going bankrupt this month or by the end of the year, but if it does not conserve its cash, and sales remain as depressed as they were in October, 2009 will be dicey.

  • Financial Regulation Likely to Increase: Market Pros Thursday, 6 Nov 2008 | 10:56 AM ET

    Market pros are seeing more regulation ahead for financial markets.

  • Democrats Push Stimulus, But White House Objects Thursday, 6 Nov 2008 | 10:38 AM ET

    Barack Obama's victory and an expanded majority in Congress could have Democrats making up a list of economic stimulus measures and checking it twice. 

  • Busch: Europe Provides "Shocks"  On Interest Rates Thursday, 6 Nov 2008 | 9:46 AM ET
    Andrew Busch

    Today, we've had three European central banks move on their overnight interest rates in an attempt to quell their economies slide into recession. The biggest shocker was the Bank of England aggressively cut interest rates 150 basis points from 4.50% to 3.0%.

  • What the Pros Say: S&P to 1,100, Gold to $850 Thursday, 6 Nov 2008 | 9:44 AM ET

    Another day in the red for global markets on Thursday with Hong Kong and Japanese stocks down heavily. CNBC's experts tout defensive strategies, but also say a blue-chip rally could appear.

  • Bank of England Could Keep Cutting to 0% Thursday, 6 Nov 2008 | 7:29 AM ET

    The Bank of England's Monetary Policy Committee cut interest rates by a surprising 150 basis points, the deeper cut since the bank became independent in 1997, to help the economy fend off a recession.

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