CNBC's Eunice Yoon reports on all the market moving events from Asia, as the Chinese yuan hits new highs against the U.S. dollar.» Read More
The dollar rose against the euro Monday, boosted by year-end transactions and speculation of less aggressive Federal Reserve interest rate cuts after last week's strong U.S. inflation numbers.
Treasury Secretary Henry Paulson said Monday that moves by some big banks to bring off-balance sheet investments tied to subprime mortgages back onto their books would help ward off a widespread credit crunch.
Oil closed down Monday, as the U.S. dollar firmed and Algeria's oil minister hinted that OPEC could raise crude output at its February meeting.
Russian President Vladimir Putin said on Monday he was ready to become prime minister if his close ally Dmitry Medvedev succeeds him, giving Putin a way to keep a grip on power after he leaves the Kremlin.
Manufacturing activity in New York State factories declined sharply in December to a seventh-month low with falling new order and shipment indexes, New York Federal Reserve said Monday.
Net overall capital inflows into the United States surged to $97.8 billion in October from a revised $32.8 billion outflow in September, the Treasury Department said Monday.
Euro zone services grew at a slower pace than expected in December, as the banking sector stalled, signaling a slowdown in the single currency area, a key survey showed on Monday.
Asian markets were sharply lower at the end of trading Monday, with most of the benchmark indexes over 3 percent down at the close. Financial stocks sank as rising U.S. inflation lessened expectations for rate cuts in the world's biggest economy.
Euro zone services growth cooled more than expected in December as the banking sector stalled while manufacturing activity eased marginally, but in line with forecasts, a key survey showed on Monday.
China will intensify its policy tightening next year to curb credit growth, deputy central bank governor Liu Shiyu said in remarks published on Monday.
Toyota Motor will raise its projected global production to almost 10 million vehicles next year, and could soon outpace U.S. rival General Motors to become the world's largest automaker, a newspaper reported.
In my 8 in '08 predictions, I told you to expect more melding of my enthusiasm for the energy beat with my passion for personal finance. So you shouldn't be surprised that this is what's on my mind. I plan to decorate my house for the holidays this weekend.
As I have been doing my 2008 predictions, I've talked to several dozen of my best sources about what they are expecting next year. The number one question has been, is this the time to buy financials? So let me take a stab at this.
Euro zone inflation surged to 3.1 percent in November, the highest level since May 2001 according to Global Insight and above an earlier estimate of 3 percent, data from the EU statistics agency Eurostat showed on Friday.
A credit ratings downgrade for U.S. banking giant Citigroup sent Asian financial stocks lower Friday, while the yen sagged after Japanese business sentiment dropped to two-year lows.
Everybody seems to have an opinion on the Federal Reserve's plan to ease the global credit crunch. Here's what some CNBC guests were saying Thursday.
Skepticism about plans by major central banks to tackle tight credit conditions kept Asian stocks subdued Thursday, with all of the benchmark indexes marking a loss for the day.
Central banks banded together to make it easier for stressed banks to borrow money in a credit crunch that threatens to knock the U.S. economy into recession.
Major central banks, including the Federal Reserve and the European Central Bank, acted in unison Wednesday in unveiling plans to provide liquidity to the banking system, where funds covering a longer span of time have become scant.
The Federal Reserve's plan to ease the global credit crunch has been in the works for a while and will be more effective than cutting interest rates, a senior Fed official said.