The U.S. will join the European Union this week in slapping new economic sanctions on Russia for its continued support of separatists in Ukraine.» Read More
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.
Singapore's economy suffered its steepest decline in five years in the in the second quarter, down an annualized, seasonally adjusted rate of 6.6% -- much stronger than economists had expected.
Wall Street's bears roared back Wednesday, and stocks will have to face down tepid chain store sales and testimony from Fed Chairman Ben Bernanke in Thursday's session.
The Dow fell more than 2 percent Wednesday, followed by similar declines in the S&P and Nasdaq. Here are the day's top five videos.
The dollar fell Wednesday as news that Iran test-fired nine missiles halted oil's steep drop and unsettled Wall Street stocks, with investors concerned about the impact of soaring energy prices on the fragile economy.
Though they have finally begun using less gasoline, US consumers remain pretty much powerless to contain prices at the pump.
European shares closed sharply higher on Wednesday with recently battered banks staging a comeback and miners rallying on the back of solid earnings from U.S. group Alcoa.
The Bank of England's Monetary Policy Committee will find itself in no easier position on Thursday, as it meets again to decide on UK interest rates. With rising inflation and falling growth, there seems no alternative but to wait, see and keep writing letters.
Rising commodity prices are threatening not only the United States but also economies from emerging nations across the globe, Pimco Co-CEO Mohamed El-Erian said on CNBC.
Fundamental pieces are in place for the lowering of oil's price, but until the dollar appreciates and speculators stop betting up the commodity it will remain at high levels, Stephen Schork, editor of The Schork Report, said on CNBC.
Malaysian annual inflation in June probably exceeded 6.0 percent, the central bank chief said on Wednesday, breaching a mark not seen in 26 years and reinforcing expectations of an interest rate hike.
South Korea plans to allow state firms to borrow more abroad, the latest in a series of policy flip-flops in recent months that analysts say could undermine already weakening confidence among investors toward the country.
A key measure of Australian consumer confidence fell to 16-year lows in July as record petrol prices and a sliding share market hurt family finances, in just the latest sign of spreading economic weakness.
Japan's core machinery orders rose a faster-than-expected 10.4% in May, suggesting capital spending was holding up, but economists were cautious about the outlook as soaring costs hurt corporate bottom lines.
The debate about whether stocks are finding a floor is gaining momentum, but traders agree it's the earnings season that will help decide the details.
Oil prices fell again Tuesday, bringing it down more than $9 since Monday, while stocks rose. Following are the day's top five videos.
U.S. Treasury Secretary Henry Paulson said on Tuesday that home foreclosure starts may hit 2.5 million this year, many of them the borrowers' own fault for taking out loans they couldn't afford.
The dollar rebounded broadly on Tuesday, lifted by comments from Federal Reserve Chairman Ben Bernanke, who said the central bank is willing to keep its emergency lending facility open beyond the end of the year for big Wall Street firms.
Gasoline prices will remain above $4 a gallon for the rest of the year, while oil prices will continued to be pressured by the tight market for crude, the U.S. Energy Information Administration said on Tuesday.
Fresh concern about banks' financing hit European shares on Tuesday, although a drop in the oil price and an investor sweep into safe-havens like drugmakers and telecoms helped stem the slide in the broader market.
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