Even before tougher sanctions against Russia hit the books, the country faces potential hits as investors turn their backs on its financial assets.» Read More
Asian markets closed near one-month highs Friday, with investors trading cautiously ahead of U.S. jobs report that is expected to raise fresh concerns that the economy is closer to a recession. Japan finished lower, but South Korea and Australia closed almost unchanged.
For the second time this week, a senior Federal Reserve official conceded the United States economy could slip into recession, but suggested the central bank should wait to see if more rate cuts are needed.
South Korea's economy is estimated to have grown nearly 6 percent in the first quarter of this year over a year earlier but faces difficulty in the current quarter, a senior Finance Ministry official said on Friday.
Australia's top central banker said on Friday there were signs that domestic demand was cooling in a way that would help restrain inflation, suggesting he thought interest rates had risen enough for now.
Japan's government may nominate acting central bank governor Masaaki Shirakawa as permanent head of the bank, hoping that a candidate already approved by parliament will not be vetoed by opposition lawmakers, the Nikkei newspaper said on Friday.
Watch what politicians do, not what they say: John McCain has been trying to reassure his base that he's an economic conservative. But here's McCain, on MSNBC's Morning Joe today, embracing the new Senate housing bill include federal money for new housing tax credits and state housing bonds.
CNBC viewers have been glued to the Senate Banking Committee's hearing on Bear Stearns all day (unless you turned the channel and as loyal viewers you'd never do that right?). Meanwhile there's been another feisty hearing underway on Capitol Hill as the Senate Energy and Natural Resources Committee tries to examine the impact of "speculative" investors on the price of oil.
U.S. crude oil futures fell on Thursday, finishing a volatile open outcry session lower as traders weighed the effect of lower demand and the direction of the dollar, causing seesaw trading.
The U.S. economy has taken a sharp turn for the worse and is facing a tough quarter, U.S. Treasury Secretary Henry Paulson said on Thursday.
The dollar gained against the euro Thursday after news the U.S. service sector shrank less than expected in March.
The number of US workers applying for unemployment benefits soared by 38,000 last week, posting the highest reading since September 2005 and reinforcing fears that the U.S. economy has stalled, government data on Thursday showed.
Euro zone retail sales turned out much weaker than expected in February, contracting on the back of falls in Germany and Spain and reinforcing concerns about the outlook for economic growth.
After several years of steady growth, even as the rest of the market slowed down, the luxury auto segment is finally hitting the brakes. I'm not surprised, nor should you be. In fact, I will not be surprised if the slower luxury sales last a while.
An index of chief executives' confidence in the US economy plunged to a record low last month, reflecting deeper concerns about the credit crisis and prospects for hiring.
Euro zone services growth slowed further last month as the credit crunch tightened its grip, while price pressures hit a 9-month high, according to final data from a survey of businesses published on Thursday.
Asian stocks rose to their highest in a month Thursday as a rally in gold and oil lifted resource shares. Japan and Australia both finished over 1% higher.
The credit squeeze for households and businesses looks set to intensify over the coming months as lenders grow increasingly nervous over the economic outlook, a survey by the Bank of England showed on Thursday.
Now that Wall Street has gone through its version of “Survivor”, it’s time for a reality check. The credit crunch is probably far from over and is likely to play out like a mini-series than a reality TV show.
The dollar rose against the yen Wednesday, following U.S. stocks higher, as investors bet that the worst of the credit crisis may be over and grew more tolerant of risk.
Oil surged $3 to near $104 a barrel on Wednesday after a U.S. government report showed a steep draw in U.S. refined fuel inventories as the giant consumer gears up for the summer driving season.
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