NUSA DUA, Indonesia, Dec 7- The World Trade Organization reached its first ever trade reform deal on Saturday to the roar of approval from nearly 160 ministers who had gathered on the Indonesian island of Bali to decide on the make-or-break agreement that could add $1 trillion to the global economy.» Read More
Oil prices tumbled more than 3 percent to below $92 a barrel after a U.S. government report showed crude stockpiles fell less than expected last week, easing supply concerns.
The economy may avoid a recession in the year ahead but it's almost certain that there will be months of slow growth.
The dollar rallied to one-week highs against the euro, the yen and the Swiss franc Wednesday with investors betting the U.S. currency's recent slump to multiyear lows had gone too far.
As we wrap up this year, we are close to seeing U.S. auto sales fall to their lowest point in nine years. It has me wondering about what's spooking vehicle buyers? Is it the economy? Is this simply the natural ebb and flow of demand for new cars, trucks and SUV's?
The European Central Bank lent three-month funds to banks at its highest rate since April 2001, after unexpectedly strong demand on Wednesday from a market keen to secure liquidity to tide it over the end of the year.
New orders for long-lasting U.S.-made manufactured goods dropped for a third month in a row during October and companies appeared wary about making new investments, according to a Commerce Department report on Wednesday.
The euro's rise against the yuan is largely a reflection of a sharp drop in the dollar, and the European Union should look to Washington to resolve the problem, Chinese Premier Wen Jiabao said on Wednesday.
Asian markets slipped into the red Wednesday, with the exception of the Hang Seng index, paring back the modest gains made in the morning. Japan finished down while South Korea closed over 1 percent lower.
Consumer confidence in Germany fell for the fourth consecutive month despite the end-of-the-year holiday season, driven by fears surrounding the strong euro and high prices, according to a survey released Wednesday.
Oil fell more than 2 percent on expectations OPEC will boost supply and concerns US economic problems will grind down demand growth.
Some interesting comments came out from Goldman Sachs today. Goldman economists raised the odds of recession in their latest forecast but they also said they believe the Fed will act even more aggressively to prevent it.
U.S. consumer confidence fell unexpectedly sharply in November to a two-year low on worries about rising gas prices and financial market volatility.
Goldman Sachs on Tuesday slashed its target for the expected trough in U.S. benchmark interest rates by a full percentage point, citing an increased probability of recession and the likelihood of a prolonged period of sluggish performance for the U.S. economy.
The dollar rose against most major currencies Tuesday after Citigroup Inc. said it will sell a $7.5 billion stake to the Abu Dhabi government, restoring some confidence in battered U.S. banks.
It's hard for me to find a more perplexing automaker than Volkswagen. Mainly because it is a brand and a company with so much potential, so much brand loyalty, and yet, from my perspective, it has not achieved what it should.
German business sentiment unexpectedly improved in November for the first time since April as firms took a more upbeat view about their current situation and shrugged off concerns about the strong euro.
Asian markets see-sawed in volatile trade Tuesday to end mixed as financial counters rebounded on news that Citigroup will receive a large cash infusion from the investment arm of the Abu Dhabi government. The news pushed the Japanese and South Korean markets back into the black after spending most of the session in negative territory.
A parade of economic data in the next couple weeks will tell volumes about the economy and the Fed’s chances for achieving a soft landing.
Read the full text of Sen. Chuck Schumer’s letter to Federal Home Loan Bank Chairman Ronald Rosenfeld, urging an end to cash advances for Countrywide Financial.
Oil prices were down as Saudi Arabian officials told CNBC that the country is increasing November production ahead of a planned Dec. 5 meeting of the Organization of Petroleum Exporting Countries.