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China has quietly ordered banks to freeze their lending through the end of the year, the Wall Street Journal reported on Monday, marking the latest in a series of measures to keep investment from running out of control.
Singapore's economy grew at an annualized, seasonally adjusted rate of 4.3 percent in the third quarter, well below market expectations for 6.4 percent, as a series of government cooling measures and the impact of the subprime crisis took hold.
French railway unions agreed on Sunday to talks on pension reforms, offering the first hope to thousands of commuters that an almost week-long public transport strike might ease.
Germany faces the prospect of unlimited rail strikes this week that could inflict serious damage to Europe's largest economy and even hurt neighbouring countries.
The dollar slipped on Friday, but was still on track for its biggest weekly gain in a month, with dealers wary of adding much to extended bets against the greenback with so much uncertainty surrounding the credit market.
Oil prices rose to close above $95 per barrel Friday, amid expectations that global crude supplies will remain tight, despite a U.S. oil inventory report that showed a surprising increase in domestic crude stockpiles.
Two top Federal Reserve officials on Friday suggested the U.S. economy is unlikely to need lower borrowing costs even as it navigates a possibly rocky stretch in the economy.
Chinese lunchtime television on Friday gave ordinary people a basic tip on how to play the currency markets: sell the dollar!
Stocks got a good lift on the opening despite a negative forecast from Federal Express that says more about the economy than the company. That move up, driven in part by options expirations, has faded. The energy markets are cooking and oil is rising close to $95 per barrel, ahead of the expiration of the December contract there today.
A top Federal Reserve official said it would take sharper than expected slowdown in growth to change the Fed's monetary policy stance in a Dow Jones interview released on Friday, casting doubt on market expectations for more interest rate cuts.
The mortgage crisis could have a "dramatic" impact on the economy by forcing banks and other financial firms to cut lending up to $2 trillion, a Goldman economist said.
U.S. Treasury Secretary Henry Paulson said on Friday Washington was following a strong dollar policy and indicated he expected it to rebound, emphasising the U.S. economy's long-term strength should help the currency.
U.S. industrial production unexpectedly fell in October, logging a 0.5 percent decrease, as output shrank at factories, mines and utilities, a Federal Reserve report on Friday showed.
The Federal Reserve's current policy stance should be just right to help the U.S. economy weather a rough patch in months ahead without triggering inflation, Fed Governor Randall Kroszner said on Friday.
The euro zone's unadjusted trade surplus rose in September despite the single currency's steady climb as annual export growth still outpaced imports despite a sharp slowdown from August, data showed on Friday.
Asian markets closed sharply down Friday, amid renewed worries about the health of the U.S. economy and the effects of the credit crunch on the broader global economy. Japan, South Korea and Australia all declined.
French job creation improved in the third quarter but grew more slowly than in the previous three months, national statistics office INSEE said on Friday, which analysts said tended to confirm a slowdown is on its way.
China's surging food prices reflect international price rises and evolving domestic demand, senior agricultural officials said, denying risks of absolute shortages to feed a nation of over 1.3 billion.
Energy futures fell Thursday after the government reported unexpected increases in crude oil and gasoline inventories last week and OPEC forecast fourth-quarter demand for oil would be less than expected.
The dollar rose against the euro but slipped against the yen Thursday as fears about the credit crunch's impact and falling equity markets led investors to pare back on profitable but extended trades.
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