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Major Chinese banks expect sharply higher first-quarter earnings due to higher interest on consumer lending as Beijing grants lenders more flexibility in pricing loans, executives from three banks said on Thursday.
Japan's core machinery orders fell 12.7 percent in February after an unusually strong previous month, in an expected decline that is unlikely to alter the view that the Bank of Japan will sit tight on interest rates for now.
Singapore's central bank unexpectedly further tightened monetary policy on Thursday, pushing the Singapore dollar to a record high against the U.S. dollar, in a move aimed at keeping a lid on soaring prices.
Overseas demand for oil has picked up so dramatically that it's now the driving force behind what we pay at the pump.
Oil jumped to a closing record close to $111 a barrel after a government report showed a sharp drop in U.S. inventories.
With oil prices topping $112/barrel and some analysts predicting the next stop to be $120, will OPEC finally step in and add crude to the market to tame prices? I doubt it will happen.
European shares closed down 0.75 percent on Wednesday, pressured by concern that financials may have to reveal more credit crunch-inflicted damage to their earnings.
The dollar extended its fall against the yen Wednesday, dropping to session lows as U.S. stocks deepened losses after a surge in oil prices.
When the 2008 presidential race began in earnest last year, no one could have imagined the Iraq war as a change of subject. But that’s what it was when Congressional testimony took John McCain, Hillary Clinton and Barack Obama away from the top campaign issue--the slumping economy.
U.S. wholesale inventories jumped 1.1 percent February, which was more than twice what analysts had expected, while sales fell 0.8 percent in the biggest drop in a year, according to a Commerce Department report released Wednesday.
The Federal Reserve is mulling further steps to address liquidity problems in financial markets should measures taken to date fail to gain traction, a Fed official confirmed Wednesday.
The Bank of England will probably cut interest rates to 5 percent Thursday, in the hope of alleviating the impact of the credit crunch, but inflation expectations are on the rise, adding to the central bank's dilemma, analysts told CNBC.com.
The European Central Bank's mission to fight inflation prevents it from worrying about economic weakness. But an abrupt slowdown could anger politicians and endanger the central bank's very mandate.
Asian markets took a turn into negative territory while the U.S. dollar stayed weak Wednesday as worries resurfaced about the economy and a global financial crisis. Japan closed 1.1% lower.
Was he pushed? Was he tired? Was he running out of ideas? Was he the wrong man to steer the ship through an economic slowdown? Some analysts say more cost cutting needs to be done, and the BT CEO has not been aggressive enough.
The Bank of Japan left its interest rate target unchanged at 0.5 percent on Wednesday, as expected, in a unanimous vote.
Former Federal Chairman Alan Greenspan told CNBC he had little to do with the housing bubble or credit crisis despite criticism the Fed kept interest rates too low under his watch.
Former Federal Reserve Chairman Alan Greenspan has defended himself from charges that easy U.S. monetary policy created the current credit crisis by inflating a housing bubble, and instead blamed professional investors.
The U.S. dollar edged lower versus the euro on Tuesday as minutes of the last Federal Reserve meeting showed policy makers felt that a prolonged and severe economic downturn can't be ruled out.
U.S. crude oil futures fell on Tuesday, with analysts citing profit-taking, a stronger dollar and a government forecast for lower world oil demand and domestic gasoline demand.
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