Assuming Israel gets the quiet it wants, what does it intend to do with Gaza?, asks former Israeli foreign minister Shlomo Ben Ami.» Read More
Treasury Secretary Henry Paulson declined to rule out intervening in currency markets to stabilize the dollar, but said strong economic fundamentals would "shine through."
A weak dollar can create a "negative feedback loop" spurring inflation and sapping growth, Dallas Federal Reserve Bank President Richard Fisher told CNBC, leaving the threat of currency intervention hanging.
The Federal Reserve pays close attention to the dollar, New York Federal Reserve Bank President Timothy Geithner said on Monday, and added that no central bank can afford to be indifferent to its currency.
European shares were lower by midday on Monday, as a big loss at Lehman Brothers weighed on banks, offsetting gains in the energy sector as oil prices hovered near record highs.
When gas prices spike, the public finally opens its eyes to alternatives. It happened in the mid '70's when compact cars became big sellers. It's happening again today with hybrids flying off of lots.
Spanish truck drivers smashed windscreens and Portuguese truckers blocked roads on Monday as protests over rocketing global fuel prices spread across Europe.
President Bush said Monday a strong dollar was in the interest of the United States and the global economy, and that energy prices were high.
Oil prices are unstable because markets are not well supplied, and higher taxes in producing countries are not conducive to investing in new output, the head of energy major BP said on Monday.
Japanese bank lending in May rose at its fastest annual pace in more than a year, as firms borrowed more to cover rising energy and material costs, but economists said the rise did not signal a stronger economy.
Malaysian Prime Minister Abdullah Ahmad Badawi, trying to assuage anger over the steepest hike in fuel prices in years, said on Monday the administration will announce more measures to ease the burden on consumers.
With oil surging to $138.54 and being projected by some to hit $150 by July 4, it's putting immediate pressure on automakers to adjust production and push small cars and crossovers while pulling back on trucks and SUVs. On paper, this shift seems simple enough. In reality, it's not so easy.
For the week ending Friday, June 6, 2008, the markets finished in the red as the CBOE Volatility Index (VIX) again crossed above the 20 threshold and oil surged. Stocks were impacted by continued economic concerns, renewed trouble in the financial sector, and a record spike in crude oil on Friday. Although it was a negative week for the markets, the Dow managed a 200+ point rally on Thursday for the first time since 4/18, after retailers posted better than expected same store sales.
Some may point to how RBS has stronger risk management than rivals, but the problem for many shareholders is the lack of oversight over CEO Fred Goodwin.
Online retailer Amazon.com Web Site was hit by a technical failure Friday, with users in various U.S. cities as well as London reporting trouble accessing the site.
The dollar dropped across the board Friday, after data showed the U.S. economy lost jobs for a fifth straight month and the unemployment rate shot up to its highest in more than 3-1/2 years.
Oil jumped nearly $11 to a record $138.54 a barrel Friday on the slumping US dollar and rising tensions between Israel and Iran.
The Oil Conspiracy theorists got more ammunition this morning when Morgan Stanley analysts came out with a call on $150 oil by July 4th. Goldman had predicted by the end of the year. Morgan Stanley and Goldman's calls move the energy markets, and both are focused on fundamental global oil supply constraints.
European stocks closed sharply lower across the board Friday, dropping to their lowest level since April 23 after higher-than-expected U.S. unemployment data and as oil surged $5 per barrel while the U.S. dollar fell.
U.S. wholesale inventories rose a much bigger-than-expected 1.3 percent in April, led by the largest rise in petroleum stocks in more than two years, while wholesale sales increased 1.4 percent, a Commerce Department report showed on Friday.
The unemployment rate jumped by the most in 22 years in May, reaching its highest level in more than 3-1/2 years and underscoring the recessionary risk the economy still faces.
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