World Economy


  • Oil Supply Disruptions Are The More Immediate Concern Wednesday, 18 Jun 2008 | 3:54 PM ET

    Even if Congress agrees to lift the moratorium on offshore drilling (a long-shot, for sure), getting that oil into the market will take years. Addison Armstrong, Tradition Energy's director of energy research, estimates it will take 10 years -- at a minimum -- to get 1 million barrels/day of oil moving from fields in the Arctic National Wildlife Refuge.

  • Oil Reverses Course; Over $136 on Supply Concerns Wednesday, 18 Jun 2008 | 3:07 PM ET
    Oil Pipeline

    Oil rose as a strike threat by oil workers in OPEC nation Nigeria stoked supply concerns ahead of a meeting of top producers and consumers aimed at tackling soaring energy prices.

  • Banks Drag European Shares Sharply Lower Wednesday, 18 Jun 2008 | 1:05 PM ET

    European stocks fell on Wednesday, as slipping crude knocked oil shares and financials took a fresh battering after U.S. banks Morgan Stanley and Fifth Third revealed credit-related struggles.

  • Investors Seek Asian Options to Costly China Wednesday, 18 Jun 2008 | 10:51 AM ET
    Vietnamese worker uses sewing machine at garment factory, Hanoi, Vietnam.

    China remains the most popular destination for foreign industrial investment in the world, attracting almost $83 billion last year. But a growing number of multinational corporations are pursuing a strategy that companies and analysts call “China plus one,” establishing or expanding Asian bases outside China, particularly in Vietnam.

  • Trump: Oil Companies 'Ripping Off This Country' Wednesday, 18 Jun 2008 | 7:56 AM ET
    Donald Trump

    Oil companies are fixing the price of oil and should suffer penalties, according to developer Donald Trump.

  • RBS Says Switch to Cash to Avoid 'Nasty' Selloff Wednesday, 18 Jun 2008 | 6:32 AM ET

    The Royal Bank of Scotland issued a stark warning to investors Wednesday, stating global stock and credit markets could be on the verge of a fully-fledged crash as central banks have their hands tied by soaring inflation, the Telegraph reported.

  • Army Corp Says Many Levees on Mississippi at Risk Tuesday, 17 Jun 2008 | 11:30 PM ET
    Corn grows in a flooded field near Ladora, Iowa, Friday, June 13, 2008. Floods that have inundated the Midwest could reduce world corn supplies and drive food prices higher at a time when Americans are already stretching their grocery budgets and people in poor countries have rioted over rising food costs. (AP Photo/Sue Ogrocki)

    The rising Mississippi River could flow over the top of as many as 33 levees and damage homes and hundreds of thousands of acres of farmland if sandbagging efforts fail, according to a map released on Tuesday by the U.S. Army Corps of Engineers.

  • Market Insider: Wednesday Look Ahead Tuesday, 17 Jun 2008 | 8:58 PM ET

    Sloppy and choppy was the market trend Tuesday, and there's signs it could continue into Wednesday with no economic data on the horizon to drive stocks.

  • Autos, Miners Boost European Markets Tuesday, 17 Jun 2008 | 4:21 PM ET

    European stocks rose on Tuesday, led by Daimler after news that the German carmaker will resume share buybacks and on strength in miners such as Rio Tinto amid takeover speculation.

  • Midwest Floods May Add to Already High Food Prices Tuesday, 17 Jun 2008 | 3:52 PM ET
    Water pours out of the Coralville Reservoir emergency spillway onto road, Johnson county, Iowa City, Iowa.

    The cost of everything from corn chips to beef steaks was going higher even before the disastrous floods hit millions of corn and soybean acres in the U.S. Midwest, and now food price increases may be even greater, industry sources said.

  • Oil Falls Below $134 on Saudi Output Hike Plan Tuesday, 17 Jun 2008 | 2:54 PM ET

    Oil prices slipped from record highs on plans by top exporter Saudi Arabia to increase crude output to help curb soaring fuel costs.

  • FedEx Earnings Preview: All About Oil and the Economy Tuesday, 17 Jun 2008 | 2:03 PM ET
    Paul Jespersen Chavez maneuvers his cart as he makes deliveries along his route in Portland, Ore.

    High fuel prices and a lackluster economy aren't making life easy for FedEx, but that doesn't mean the shipping giant can't make money.

  • Dollar Slides as Housing Starts Hit 17-Year Low Tuesday, 17 Jun 2008 | 1:21 PM ET
    Exchanging Dollars and Euros

    The dollar fell against the euro after U.S. housing starts plunged to their lowest level in more than 17 years in May, reducing the chance of an early Federal Reserve interest rate increase.

  • Big Three Automakers: What's Their Biggest Threat? Tuesday, 17 Jun 2008 | 10:28 AM ET
    Big 3's Biggest Threat

    Over the last two weeks I've been inundated with e-mails from readers venting about the latest round of cutbacks Detroit's automakers have announced. What's surprised me the most has been the wide range of reasons why you think the Big 3 are in big trouble.

  • Playing Energy? Natural Gas Is Now The Place To Be Tuesday, 17 Jun 2008 | 9:15 AM ET
    Natural Gas

    MF Global energy analyst Ed Meir says today's action may confirm whether yesterday was really the intraday reversal that will take prices lower from here. We're expecting more volatility today with the expiration of July crude options.

  • U.S. Housing Starts Fall 3.3%, Hit 1991 Low Tuesday, 17 Jun 2008 | 8:53 AM ET
    Home Construction

    U.S. housing starts slid 3.3 percent in May to their lowest level in more than 17 years, while permits for future construction also fell, signaling more weakness ahead for the battered U.S. housing sector.

  • Core Inflation Slows, Even as Producer Prices Rise Tuesday, 17 Jun 2008 | 8:39 AM ET

    US producer prices rose by a larger-than-expected 1.4% in May after another jump in energy prices, but core inflation at the producer level moderated as forecast.

  • Telecommuting Picking Up As Gasoline Prices Soar Tuesday, 17 Jun 2008 | 8:05 AM ET
    Home office

    Companies and their employees are searching for new ways to deal with soaring gasoline prices that have risen to heights unimaginable only a few months ago.

  • UK Inflation Surges But BoE Cools Rate Rise Outlook Tuesday, 17 Jun 2008 | 7:39 AM ET

    Britain's inflation rate rose in May to its highest since the Labour government came to power in 1997 but the Bank of England played down the risk of early interest rate rises by saying the path for rates was still "uncertain."

  • German Business Sentiment Falls Sharply in June Tuesday, 17 Jun 2008 | 6:11 AM ET

    German investor sentiment about the outlook for Europe's largest economy fell by much more than expected in June, a closely watched survey showed on Tuesday.

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