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
Let's face it. Most people above a certain age don't "get" instant messaging. Thankfully, Research in Motion has attached Blackberries to the hips of business people so they can e-mail each other on the go. If you think this company sounds boring or its products aren't sexy, you haven't seen RIM's growth numbers.
New orders at U.S. factories fell for the second month in a row in February and by a much larger-than-expected 1.3 percent, a government report showed on Wednesday.
The rebound in financial stocks is a golden opportunity to sell, as earnings will not return to the values before the beginning of the credit crunch, editor of the 'Gloom, Doom and Boom' report and long-standing bear Marc Faber told CNBC Europe Wednesday.
US private-sector employers unexpectedly added 8,000 jobs in March, a report by a private employment service said, confounding economists' expectations of a fall.
As the second quarter begins, and uncertainty in the U.S. market prevails, investors might want to start looking south for some opportunities. For the first quarter, Latin American indices were amongst the best performers around the globe.
The full text of Federal Reserve Chairman Ben Bernanke's prepared testimony before the Joint Economic Committee of Congress on April 2, 2008:
The European Central Bank's first-ever auction of six-month funds on Wednesday saw banks bidding more than four times the 25 billion euros on offer as they sought cash they struggle to raise on financial markets.
British bank First Direct has withdrawn mortgages for new customers to clear a backlog after people flocked to its relatively cheap rates as other lenders raised rates due to the credit crunch.
The $19 billlion writedown at UBS has cheered some investors who think that the worst of the credit crunch is now over. But the European Central Bank still faces the prospect of falling growth and rising prices.
Markets surged Wednesday after a Lehman Brothers securities offering in the U.S. met strong demand, raising hopes in Asia that the worst of the credit crisis might be over. Japan closed over 4% higher, while Australia and South Korea both added 2%.
China reaffirmed its commitment on Wednesday to regular high-level talks with the United States that visiting Treasury Secretary Henry Paulson hopes will help to pry open Chinese markets and speed the yuan's rise.
Growth in Asia's developing economies, the fastest-expanding in the world, will slow in 2008 to the weakest pace in five years because of the global credit crisis, the Asian Development Bank said on Wednesday.
The dollar vaulted higher Tuesday after major banks UBS and Lehman Brothers raised a combined $19 billion to shore up their balance sheets, boosting hopes that the worst of Wall Street's problems may be over.
Oil fell on Tuesday, extending three days of losses as gains in the U.S. dollar triggered selling in commodity markets.
Fed Chairman Bernanke will go before Congress Wednesday in his first public testimony since the rescue of Bear Stearns and other Fed efforts to stem the credit crisis.
This morning traders on the NYMEX floor were buzzing about the oil plunge under $100 a barrel, perhaps marking the bursting of the commodities bubble. After all, the U.S.dollar index had popped over 1 percent, as the dollar rallies sharply against the Euro and other currencies...
News of massive writedowns at two major European banks paradoxically sent shares soaring Tuesday, as many investors took the typically negative announcements as a signal to buy into the battered sector.
U.S. factory activity shrank less than expected in March, while construction spending fell for the fifth straight month, according to separate reports.
Euro zone manufacturing activity cooled in March, but there was the biggest growth split among leading economies in seven years, while price pressures spiralled higher, a survey showed on Tuesday.
Asian stocks closed mixed Tuesday as markets pared back gains ahead of a raft of economic indicators due out this week. Investors are wary over the prospect of a serious global economic slowdown.
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