Turkey's lira fell to its weakest level in five weeks on Wednesday after protests broke out across the country.» Read More
An index of chief executives' confidence in the US economy plunged to a record low last month, reflecting deeper concerns about the credit crisis and prospects for hiring.
Euro zone services growth slowed further last month as the credit crunch tightened its grip, while price pressures hit a 9-month high, according to final data from a survey of businesses published on Thursday.
Asian stocks rose to their highest in a month Thursday as a rally in gold and oil lifted resource shares. Japan and Australia both finished over 1% higher.
The credit squeeze for households and businesses looks set to intensify over the coming months as lenders grow increasingly nervous over the economic outlook, a survey by the Bank of England showed on Thursday.
Now that Wall Street has gone through its version of “Survivor”, it’s time for a reality check. The credit crunch is probably far from over and is likely to play out like a mini-series than a reality TV show.
The dollar rose against the yen Wednesday, following U.S. stocks higher, as investors bet that the worst of the credit crisis may be over and grew more tolerant of risk.
Oil surged $3 to near $104 a barrel on Wednesday after a U.S. government report showed a steep draw in U.S. refined fuel inventories as the giant consumer gears up for the summer driving season.
Let's face it. Most people above a certain age don't "get" instant messaging. Thankfully, Research in Motion has attached Blackberries to the hips of business people so they can e-mail each other on the go. If you think this company sounds boring or its products aren't sexy, you haven't seen RIM's growth numbers.
New orders at U.S. factories fell for the second month in a row in February and by a much larger-than-expected 1.3 percent, a government report showed on Wednesday.
The rebound in financial stocks is a golden opportunity to sell, as earnings will not return to the values before the beginning of the credit crunch, editor of the 'Gloom, Doom and Boom' report and long-standing bear Marc Faber told CNBC Europe Wednesday.
US private-sector employers unexpectedly added 8,000 jobs in March, a report by a private employment service said, confounding economists' expectations of a fall.
As the second quarter begins, and uncertainty in the U.S. market prevails, investors might want to start looking south for some opportunities. For the first quarter, Latin American indices were amongst the best performers around the globe.
The full text of Federal Reserve Chairman Ben Bernanke's prepared testimony before the Joint Economic Committee of Congress on April 2, 2008:
The European Central Bank's first-ever auction of six-month funds on Wednesday saw banks bidding more than four times the 25 billion euros on offer as they sought cash they struggle to raise on financial markets.
British bank First Direct has withdrawn mortgages for new customers to clear a backlog after people flocked to its relatively cheap rates as other lenders raised rates due to the credit crunch.
The $19 billlion writedown at UBS has cheered some investors who think that the worst of the credit crunch is now over. But the European Central Bank still faces the prospect of falling growth and rising prices.
Markets surged Wednesday after a Lehman Brothers securities offering in the U.S. met strong demand, raising hopes in Asia that the worst of the credit crisis might be over. Japan closed over 4% higher, while Australia and South Korea both added 2%.
China reaffirmed its commitment on Wednesday to regular high-level talks with the United States that visiting Treasury Secretary Henry Paulson hopes will help to pry open Chinese markets and speed the yuan's rise.
Growth in Asia's developing economies, the fastest-expanding in the world, will slow in 2008 to the weakest pace in five years because of the global credit crisis, the Asian Development Bank said on Wednesday.
The dollar vaulted higher Tuesday after major banks UBS and Lehman Brothers raised a combined $19 billion to shore up their balance sheets, boosting hopes that the worst of Wall Street's problems may be over.
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