World Economy


  • Australia's RBA Sees Demand Cooling as Sales Fall Thursday, 3 Apr 2008 | 10:42 PM ET

    Australia's top central banker said on Friday there were signs that domestic demand was cooling in a way that would help restrain inflation, suggesting he thought interest rates had risen enough for now.

  • Japan May Keep Shirakawa as BOJ Governor Thursday, 3 Apr 2008 | 9:31 PM ET

    Japan's government may nominate acting central bank governor Masaaki Shirakawa as permanent head of the bank, hoping that a candidate already approved by parliament will not be vetoed by opposition lawmakers, the Nikkei newspaper said on Friday.

  • Meet John McCain, Centrist Thursday, 3 Apr 2008 | 5:18 PM ET

    Watch what politicians do, not what they say: John McCain has been trying to reassure his base that he's an economic conservative. But here's McCain, on MSNBC's Morning Joe today, embracing the new Senate housing bill include federal money for new housing tax credits and state housing bonds.

  • CNBC viewers have been glued to the Senate Banking Committee's hearing on Bear Stearns all day (unless you turned the channel and as loyal viewers you'd never do that right?). Meanwhile there's been another feisty hearing underway on Capitol Hill as the Senate Energy and Natural Resources Committee tries to examine the impact of "speculative" investors on the price of oil.

  • Oil Settles Below $104 on US Demand Worries Thursday, 3 Apr 2008 | 3:11 PM ET
    Traders buy and sell crude oil futures contracts at the New York Mercantile Exchange.

    U.S. crude oil futures fell on Thursday, finishing a volatile open outcry session lower as traders weighed the effect of lower demand and the direction of the dollar, causing seesaw trading.

  • Paulson: US Economy Faces a Tough Quarter Thursday, 3 Apr 2008 | 10:53 AM ET
    Henry Paulson

    The U.S. economy has taken a sharp turn for the worse and is facing a tough quarter, U.S. Treasury Secretary Henry Paulson said on Thursday.

  • Dollar Gains after Services Sector Report Thursday, 3 Apr 2008 | 10:16 AM ET
    Dollar and Euro

    The dollar gained against the euro Thursday after news the U.S. service sector shrank less than expected in March.

  • Jobless Claims Jump to Highest Level Since 2005 Thursday, 3 Apr 2008 | 10:11 AM ET

    The number of US workers applying for unemployment benefits soared by 38,000 last week, posting the highest reading since September 2005 and reinforcing fears that the U.S. economy has stalled, government data on Thursday showed.

  • Euro Zone Retail Sales Fall, Spark Economy Worries Thursday, 3 Apr 2008 | 9:55 AM ET

    Euro zone retail sales turned out much weaker than expected in February, contracting on the back of falls in Germany and Spain and reinforcing concerns about the outlook for economic growth.

  • Luxury Car Sales On The Skids And Could Be For A While Thursday, 3 Apr 2008 | 8:49 AM ET

    After several years of steady growth, even as the rest of the market slowed down, the luxury auto segment is finally hitting the brakes. I'm not surprised, nor should you be. In fact, I will not be surprised if the slower luxury sales last a while.

  • CEOs Show Pessimism About Economy Thursday, 3 Apr 2008 | 8:16 AM ET

    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 Activity Slowed in March Thursday, 3 Apr 2008 | 5:40 AM ET

    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.

  • Resource Stocks Lift Asian Markets Higher Thursday, 3 Apr 2008 | 5:16 AM ET

    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.

  • Credit Crunch to Drag On Despite Efforts by the Fed Wednesday, 2 Apr 2008 | 2:59 PM ET

    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.

  • Dollar Gains vs Yen but Softens vs Euro Wednesday, 2 Apr 2008 | 2:39 PM ET

    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 Jumps Above $104 on Refined Fuels Report Wednesday, 2 Apr 2008 | 2:32 PM ET
    Oil Barrels

    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.

  • Preview: Research In Motion Seen Doubling Profits Wednesday, 2 Apr 2008 | 12:10 PM ET

    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.

  • February Factory and Durable Goods Orders Fall Wednesday, 2 Apr 2008 | 11:42 AM ET
    Manufacturing Cars

    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.

  • Rebound by Financials Is Selling Opportunity:  Faber Wednesday, 2 Apr 2008 | 10:52 AM ET

    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.

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