U.S.-Japan talks aimed at a trade deal seen as vital to a broader regional pact are in stalemate, Japan's economy minister said.» Read More
The dollar gained against the euro and yen Friday as rising equity markets calmed investors, prompting a few to edge back into relatively risky carry trades.
Weaker U.S. growth means that more interest rate cuts are "quite possible" but inflation is also still a risk, Federal Reserve Bank of Richmond President Jeffrey Lacker said Friday.
U.S. consumers' mood brightened a bit in January, defying expectations driven by the constant drumbeat of talk about a possible recession, weak jobs market and falling stock prices.
So for bulls and bears it's a tough call either way: 1) How much do you believe the U.S. consumer is slowing down, and 2) How much ancillary slowdown will the global economy see. Bears say consumer slowdown has just begun, and global slowdown is just starting, with the U.K. already slowing.
French President Nicolas Sarkozy wants to change the law to allow workers who quit their jobs to receive unemployment benefits, as many French workers go to great lengths to get fired if they want to search for a new job.
Oil rose almost $1 to above $90 a barrel on Friday, staging a limited recovery after falling sharply this week on concern the United States would slip into recession and erode demand in the world's top consumer.
Most Asian markets managed to bounce back and close higher Friday, except for India's Sensex index which closed down by more than 3 percent.
Wall Street is sending a clear message to Washington: an economic stimulus plan and Fed rate cuts are too little, too late.
This afternoon, GM investors got the kind of good news they've been craving for several months. Talking with analysts in Dearborn, Michigan, GM's Chairman and CEO Rick Wagoner said the company plans to save an additional $5 billion by 2011.
Oil fell toward $90 on Thursday, adding to losses of more than $3 in the past two days, on fears the U.S. economy will slip into a recession and hurt demand from the world's largest energy consumer.
Finance ministers from Europe's top four economies called on Thursday for greater market transparency, full disclosure of losses and better coordination among supervisory bodies in response to the global credit crunch.
The dollar dropped Thursday after Federal Reserve Chairman Ben Bernanke told a congressional committee that more interest rate cuts may be necessary and that the U.S. economic outlook has worsened.
Federal Chairman Bernanke told lawmakers that extending tax cuts put in place during the Bush administration could have a positive long-term effect on the economy.
Jamie Baker thinks airline stocks are ready to take off. "We do see significant potential upside from here," the JP Morgan senior airline analyst told CNBC. He offered investors his top stock picks.
Most analysts say Fed Chairman Bernanke will move cautiously even if the Fed cuts interest rates by half a percentage point at its Jan. 29-30 meeting, as many now expect.
U.S. home building projects started in December fell by 14.2 percent to the lowest pace inmore than 16 years, but jobless claims fell unexpectedly last week.
A Federal Reserve official and a state secretary warned Thursday the slowdown in the U.S. economy was quickening, because of weak housing prices, falling stock prices and rising energy costs.
Five months on, finance ministers from Europe's four largest economies headed to Paris on Thursday to discuss an international response to the credit crunch that struck last August and continues to plague the global economy.
Asian stocks closed mixed after a volatile trading session Thursday as investors flitted between profit-taking and bargain-hunting. Japan finished 2 percent higher -- it was down almost 1 percent at one point -- but Australia closed lower for the ninth straight session.
Fed Chairman Bernanke has indicated he is open to congressional and White House efforts to develop a rescue package to avert a recession.
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