Saying firms need to be patriotic so "we all rise or fall together" ignores reality. Putting firms at a disadvantage ensures we all fall together.» Read More
Short sellers are rightly targeting Freddie Mac and Fannie Mae, said Manny Weintraub of Integre Advisors.
The dollar slumped Friday, battered by heightened worries about the U.S. financial sector after a report said the U.S. government is considering taking over mortgage agencies Fannie Mae and Freddie Mac if their situation worsens.
European shares fell on Friday as financial stocks were hit by yet another negative development in the sector, more than offsetting modest gains for heavyweight energy shares on the back of higher oil prices.
U.S. consumer confidence rose unexpectedly in early July with the help of retail discounts, but the increase was marginal and barely enough to pull it off June's 28-year low, according to a survey released Friday.
The U.S. trade deficit shrank unexpectedly in May, as both exports and imports hit record highs and the average price for imported oil shot to an all-time high of $106.28 per barrel, a Commerce Department report showed on Friday.
GE shareholders would probably like to forget last quarter and the stock's 28% decline. But what about the future? Can spin-offs and recently-announced acquisitions reignite growth at GE?
Fed Chairman Ben Bernanke said financial market turbulence persists and that government officials are focused on helping the financial system regain stability.
The U.S. dollar fell against a basket of currencies on Thursday, weighed down by renewed credit worries after shares in major mortgage finance sources Fannie Mae and Freddie Mac tumbled on capital concerns.
Austrian brickmaker Wienerberger warned on Thursday that earnings would fall this year as residential construction in Britain "collapsed" and U.S. building fell sharper than expected, sending its shares down as much as 23 percent.
European shares fell more than 2 percent on Thursday as global growth concerns hit oil shares and banks slipped in sympathy with U.S. peers that took a battering on worries over the strength of their balance sheets.
I've said it for some time, and will continue to say it to anyone who asks. The flexibility Asian automakers have to build different vehicles in different plants is the reason they'll ride out this tough time better than the Big 3.
The United States is heading for recession despite modest growth in the first half of the year, but strength in Germany is keeping European growth prospects a bit brighter, Fitch Ratings said on Thursday.
The number of U.S. workers filing new claims for jobless benefits dropped by a much bigger-than-expected 58,000 last week to 346,000.
The Bank of England kept its main interest rate steady at 5 percent on Thursday, as widely expected, despite rising inflation.
If war in Iraq was largely over oil, as former Federal Reserve chairman Alan Greenspan essentially admitted, Western oil companies might have done better had they convinced the Bush Administration not to do them any favors.
China recorded a smaller-than-expected trade surplus of $21.35 billion in June, as slower growth in exports contributed to concerns that weakening demand overseas could be starting to hit the economy.
Malaysian Prime Minister Abdullah Ahmad Badawi will announce plans to retire in June 2010, a move aimed at ending months of political uncertainty that have unnerved investors, a news website said on Thursday.
Australian employment staged a surprisingly strong revival in June while the jobless rate ticked down toward three-decade lows, keeping alive the risk that a drum-tight labour market could fuel inflationary pressures.
South Korea's central bank kept rates on hold on Thursday as expected, with its battle against inflation now playing out in the currency market where the won jumped as much 1 percent on dollar-selling fears.
Japanese wholesale prices rose slightly more than expected in June from a year earlier to hit a fresh 27-year high on surging oil and commodity prices, adding gloom to firms facing dwindling profit margins.
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