LONDON, March 9- Europe's and Asia's industrial health will be closely watched in the coming week for an indication of how solid- or weak- a footing the global economy was on at the start of the year.» Read More
Talk about a little car making a big impression. Yesterday, when you saw Tata's new microcar, the Nano, and its equally small price of $2,500 you sent me e-mails. You love it! You really, really love
Asian markets closed sharply lower Friday, with the exception of China and India, as investors sold down shares after report in the New York Times that Merrill Lynch could suffer $15 billion in losses from soured mortgage investments, almost twice its orginal estimate. Japan shed almost 2 percent and South Korea finished 2.3 percent lower.
Bank of Japan Governor Toshihiko Fukui said on Friday the pace of growth was slowing, as markets started pondering the risk of a Japanese rate cut.
Oil slipped more than $2 to end below $94 per barrel on Thursday, as concerns about a wider economic slowdown raised the possibility of weakening energy demand.
Nigeria’s main militant group, the Movement for the Emancipation of the Niger Delta, reportedly fired on six oil industry ships today and threatened an attack that will cause an “economic tsunami” in the world’s oil market.
Traders are looking at the latest retail sales figures and thinking twice about snapping up crude. According to Thompson Financials combined retail index, November and December sales stalled to 2004 level.
Royal Dutch Shell execs have been talking about the impact of high oil prices on future energy projects--but the company continues to press on with plans despite headwinds facing the sector. “Increasing supply is best way to affect the price,” says Shell Oil President John Hofmeister.
U.S. mortgage applications sank last week to the lowest level since the end of last year despite falling borrowing costs, an industry trade group said Thursday.
The euro climbed across the board Thursday, after European Central Bank President Jean Claude-Trichet flagged more interest rate increases in the euro zone, citing lingering inflation pressures.
We won't see it here in the states anytime soon and there are still plenty of questions about how much of a market there is for this pint size car. Still, the new Nano by Tata is getting big buzz. The company unveiled the car yesterday in India, and since its reveal I've been inundated with questions from other bloggers...
The European Central Bank left interest rates unchanged on Thursday amid continuing uncertainty regarding the outlook for the economy.
Inventories at U.S. wholesalers rose 0.6 percent in November, but they did not keep pace with sales, which saw the biggest monthly increase in more than two years on rising petroleum prices, the government reported Thursday.
The Bank of England left interest rates on hold at 5.5 percent Thursday, despite clear signs of weakness in the retail and housing sectors.
The Bank of England is likely to hold interest rates steady at 5.5 percent when it meets Thursday, analysts told CNBC.com, but it looks set to resume its monetary-easing strategy in February.
Asian markets were mostly lower in the afternoon session Thursday, on worries about global growth after Goldman Sachs forecast a U.S. recession this year. Both Japan and South Korea closed over 1 percent lower.
The European Central Bank seems to have little choice but to keep rates on hold this time as well, despite rising inflation. Money markets are still not back to normal and there are signs of a weakening economy.
The dollar climbed Wednesday following comments from a Federal Reserve official who said it would be a mistake to say a U.S. recession is at hand.
Oil climbed within reach of $98 a barrel on Wednesday as a larger-than-expected draw in U.S. crude stocks offset worries over a U.S. recession this year.
Goldman Sachs today joins a growing roster of Wall Street firms, who say the U.S. economy will fall into recession this year. Watch for more reductions in stock price and earnings forecasts to follow.