China's shadow banking is slowing, but loans overall continue to grow amid a delicate policy dance between economic growth and tightening credit.» Read More
Asian markets ended higher across the board Thursday, as risk appetite returned to the market after comments from the vice chairman of the Federal Reserve bolstered expectations for a U.S. interest rate cut.
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Australian business investment unexpectedly fell last quarter as the booming mining sector took a breather, though firms still upgraded already ambitious spending plans for coming months.
Japan's industrial production rose in October from September, signalling firm corporate activity and steady exports, but the data did little to alter views that the Bank of Japan will not raise interest rates until next year.
Bear Stearns is only the latest Wall Street firm to cut jobs. In recent months, U.S. banks and financial service companies with banking operations having been slashing tens of thousands of positions.
The Fed's No. 2 official signaled a willingness to cut interest rates further, saying renewed financial market turmoil could slow the economy more than thought.
The economy grew at a slower pace in the late fall as shoppers watched their pennies heading into the busy holiday season.
Oil prices tumbled more than 3 percent to below $92 a barrel after a U.S. government report showed crude stockpiles fell less than expected last week, easing supply concerns.
The economy may avoid a recession in the year ahead but it's almost certain that there will be months of slow growth.
The dollar rallied to one-week highs against the euro, the yen and the Swiss franc Wednesday with investors betting the U.S. currency's recent slump to multiyear lows had gone too far.
As we wrap up this year, we are close to seeing U.S. auto sales fall to their lowest point in nine years. It has me wondering about what's spooking vehicle buyers? Is it the economy? Is this simply the natural ebb and flow of demand for new cars, trucks and SUV's?
The European Central Bank lent three-month funds to banks at its highest rate since April 2001, after unexpectedly strong demand on Wednesday from a market keen to secure liquidity to tide it over the end of the year.
New orders for long-lasting U.S.-made manufactured goods dropped for a third month in a row during October and companies appeared wary about making new investments, according to a Commerce Department report on Wednesday.
The euro's rise against the yuan is largely a reflection of a sharp drop in the dollar, and the European Union should look to Washington to resolve the problem, Chinese Premier Wen Jiabao said on Wednesday.
Asian markets slipped into the red Wednesday, with the exception of the Hang Seng index, paring back the modest gains made in the morning. Japan finished down while South Korea closed over 1 percent lower.
Consumer confidence in Germany fell for the fourth consecutive month despite the end-of-the-year holiday season, driven by fears surrounding the strong euro and high prices, according to a survey released Wednesday.
Oil fell more than 2 percent on expectations OPEC will boost supply and concerns US economic problems will grind down demand growth.
Some interesting comments came out from Goldman Sachs today. Goldman economists raised the odds of recession in their latest forecast but they also said they believe the Fed will act even more aggressively to prevent it.
U.S. consumer confidence fell unexpectedly sharply in November to a two-year low on worries about rising gas prices and financial market volatility.
Goldman Sachs on Tuesday slashed its target for the expected trough in U.S. benchmark interest rates by a full percentage point, citing an increased probability of recession and the likelihood of a prolonged period of sluggish performance for the U.S. economy.
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