BANGALORE/ SYDNEY, Aug 1- Manufacturing activity in China and most of Asia gathered pace in July as firms responded to burgeoning new orders by raising output, hinting at a revival in global trade, although euro zone factories barely managed to chug along. The HSBC/ Markit measure also rose to 51.7, an 18- month peak.» Read More
Asian stocks ended lower on Tuesday, snapping a six-day rising trend, weighed by retailers as oil continued a relentless rise, keeping inflation fears high.
Australia's central bank actively considered raising interest rates earlier this month as inflation was uncomfortably high, minutes of its May policy meeting showed on Tuesday, sending the Australian dollar to 24-year highs.
The Bank of Japan left interest rates unchanged at 0.5 percent on Tuesday, as expected, opting to take more time to determine when the fog will clear from the economy -- both in Japan and around the world.
The two top members of the U.S. Senate Banking Committee announced Monday that they have a deal that will create a multi-billion dollar mortgage rescue fund and a new regulator for Fannie Mae and Freddie Mac.
The dollar rose on Monday, rebounding from a 2-1/2 week low against the euro as equities rallied and an economic forecasting gauge showed the U.S. economy, while weak, has so far managed to avoid recession.
Last week, Wal-Mart showed it can make money in the current economic environment. This week, the worry is Home Depot won't be able to deliver. Can Home Depot break ranks with rival Lowe's and improve its guidance? Sure, but don't hold your breath.
Oil was above $127 a barrel seesaw trading Monday as crude prices were hit alternately by profit-taking and comments from OPEC's president that the producer group would not increase output at its next meeting in September.
A few Federal Reserve policy-makers have begun talking openly about the need to raise interest rates, but it appears more likely the U.S. central bank will stay on hold until early 2009.
World stocks rallied Monday amid signs investors were becoming more confident that the worst of the economic slump might be over.
The worst of the housing slump and the credit crunch might come to an end this year, economists say, but the economy will weaken further and unemployment will rise.
Erin Burnett has been travelling the globe in search of the market movers of tomorrow. So far she has been to Dubai in the United Arab Emirates and Mumbai, India. Today, she is in London. Like last week's comparison of the UAE and India, here are some stats comparing the UK and the US.
Regardless of the cause of current price levels, there are, incredibly, more losers in this situation than seems imaginable. Consumers, transportation companies, and the airlines are the easy ones to identify in this camp.
The U.S. economy is weak but does not appear to be in a recession, according to a key forecasting gauge, the Conference Board reported.
The fallout from the global credit crisis is not over yet, billionaire investor Warren Buffett said Monday.
Asian markets hit a new four-month high Monday as a relentless rise in oil prices bolstered resource shares, but wariness about inflation and doubts about the U.S. economy kept gains in check.
European Central Bank President Jean Claude Trichet warned on Monday that the end of the credit crunch was not yet in sight and the world was experiencing an "ongoing and very significant market correction."
The credit crunch is far from over and is likely to hit sectors other than housing, Marc Faber, Editor and Publisher of “The Gloom, Boom & Doom Report”, told "Squawk Box Europe."
China's inflation might spill over from food to other sectors as strong domestic consumption convinces producers that they will not lose market share if they raise prices to increase profits, a senior official said in remarks published on Monday.
Oil prices shot to new highs again Friday as traders, unimpressed by U.S. and Saudi efforts to boost supply, kept buying on the belief that prices had more room to rise.
For the week ending Friday, May 16, 2008, the U.S. Equity Markets ended the week up with all of the major indices up ~2% or more as stocks gained from M&A news, easing inflation worries, and strong earnings results. Oil and gasoline continued to hit new record highs as the dollar declined against major currencies.
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