World Economy


  • Video: Short-Selling Fannie & Freddie Mae Friday, 11 Jul 2008 | 2:23 PM ET

    Short sellers are rightly targeting Freddie Mac and Fannie Mae, said Manny Weintraub of Integre Advisors.

  • Dollar Bruised by Fannie, Freddie, Oil Surge Friday, 11 Jul 2008 | 1:05 PM ET

    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.

  • Euro Shares Slump on Fresh Financial Woes Friday, 11 Jul 2008 | 12:09 PM ET

    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.

  • Consumer Sentiment Up More than Expected  in July Friday, 11 Jul 2008 | 10:04 AM ET

    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.

  • Trade Gap Narrows Unexpectedly in May Friday, 11 Jul 2008 | 8:52 AM ET

    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 Earnings Preview: Getting Back in the Groove? Friday, 11 Jul 2008 | 2:35 AM ET

    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?

  • Bernanke, Paulson Push for New Bank Laws Thursday, 10 Jul 2008 | 12:13 PM ET

    Fed Chairman Ben Bernanke said financial market turbulence persists and that government officials are focused on helping the financial system regain stability.

  • Dollar Weakens as Credit Worries Linger Thursday, 10 Jul 2008 | 12:11 PM ET

    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.

  • Brickmaker Wienerberger Shares Fall on Profit Warning Thursday, 10 Jul 2008 | 11:57 AM ET

    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.

  • Europe Stocks Drop on Banks, Oil Shares Thursday, 10 Jul 2008 | 11:56 AM ET

    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.

  • US Heads for Recession, but Europe Fares Better: Fitch Thursday, 10 Jul 2008 | 10:24 AM ET

    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.

  • Initial Jobless Claims Show Surprising Drop Thursday, 10 Jul 2008 | 10:04 AM ET

    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.

  • Bank of England Keeps Rates on Hold Thursday, 10 Jul 2008 | 7:48 AM ET

    The Bank of England kept its main interest rate steady at 5 percent on Thursday, as widely expected, despite rising inflation.

  • Western Firms' Dreams Of Iraq Oil May Prove Fleeting Thursday, 10 Jul 2008 | 3:05 AM ET

    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 Trade Surplus Hits $21.4 Billion, Exports Slow Thursday, 10 Jul 2008 | 2:43 AM ET
    China, Chinese Flag

    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.

  • Malaysia PM to Step Down June 2010: Website Thursday, 10 Jul 2008 | 1:14 AM ET
    Visiting Kazakhstan President Nursultan Nazarbayev, right, and Malaysian Prime Minister Abdullah Ahmad Badawi pose outside the latter's office in Putrajaya, outside Kuala Lumpur, Malaysia, Monday, June 26, 2006. Nazarbayev arrived in Malaysia Sunday for a three-day visit. (AP Photo/Bazuki Muhammad, Pool)

    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.

  • Australia Jobs Rebound, June Unemployment Dips Wednesday, 9 Jul 2008 | 10:55 PM ET

    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.

  • Bank of Korea Holds Rates, Keeps FX Markets on Edge Wednesday, 9 Jul 2008 | 10:51 PM ET
    Korea, Korean Flag

    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.

  • Japan Wholesale Prices Hit New 27-Year High Wednesday, 9 Jul 2008 | 10:06 PM ET
    Japanese Flag

    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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