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Asian markets were sharply lower at the end of trading Monday, with most of the benchmark indexes over 3 percent down at the close. Financial stocks sank as rising U.S. inflation lessened expectations for rate cuts in the world's biggest economy.
Euro zone services growth cooled more than expected in December as the banking sector stalled while manufacturing activity eased marginally, but in line with forecasts, a key survey showed on Monday.
China will intensify its policy tightening next year to curb credit growth, deputy central bank governor Liu Shiyu said in remarks published on Monday.
Toyota Motor will raise its projected global production to almost 10 million vehicles next year, and could soon outpace U.S. rival General Motors to become the world's largest automaker, a newspaper reported.
In my 8 in '08 predictions, I told you to expect more melding of my enthusiasm for the energy beat with my passion for personal finance. So you shouldn't be surprised that this is what's on my mind. I plan to decorate my house for the holidays this weekend.
As I have been doing my 2008 predictions, I've talked to several dozen of my best sources about what they are expecting next year. The number one question has been, is this the time to buy financials? So let me take a stab at this.
Euro zone inflation surged to 3.1 percent in November, the highest level since May 2001 according to Global Insight and above an earlier estimate of 3 percent, data from the EU statistics agency Eurostat showed on Friday.
A credit ratings downgrade for U.S. banking giant Citigroup sent Asian financial stocks lower Friday, while the yen sagged after Japanese business sentiment dropped to two-year lows.
Everybody seems to have an opinion on the Federal Reserve's plan to ease the global credit crunch. Here's what some CNBC guests were saying Thursday.
Skepticism about plans by major central banks to tackle tight credit conditions kept Asian stocks subdued Thursday, with all of the benchmark indexes marking a loss for the day.
Central banks banded together to make it easier for stressed banks to borrow money in a credit crunch that threatens to knock the U.S. economy into recession.
Major central banks, including the Federal Reserve and the European Central Bank, acted in unison Wednesday in unveiling plans to provide liquidity to the banking system, where funds covering a longer span of time have become scant.
The Federal Reserve's plan to ease the global credit crunch has been in the works for a while and will be more effective than cutting interest rates, a senior Fed official said.
As you may have read in Sharon's post, both she and I are "sharing" the joy of making predictions for 2008 as part of CNBC's Outlook For '08. Here are mine, with as much "futuristic foresight" as I can muster:
Melissa and I are taking part in the Outlook For '08 predictions, but we decided to split them up. So, out of the eight we are making, I took four and Melissa took four. That way, you'll get double the pleasure next year, of seeing whether the two of us are right!
Okay, here are my predictions for 2008 as part of our Outlook '08 coverage. We'll look back next year to see how I did--see number 7 below in order to figure out how good I am at this! 1) MY OVERALL PREDICTION: at a time of heightened public anxiety about America's future, the presidential election next November will shatter previous turnout records.
Energy futures rose sharply after the government reported unexpected declines in supplies of crude and heating oil last week and the Federal Reserve announced a plan to help banks weather the credit crisis.
The yen tumbled and high-yielding currencies posted sharp gains as carry trades regained popularity Wednesday after Federal Reserve and other major central banks announced coordinated measures to ease the money market's liquidity crunch.
Several top central banks including the Federal Reserve and the European Central Bank announced plans to address elevated pressures in short-term funding markets.
The U.S. Federal Reserve on Wednesday announced with other major central banks measures to alleviate upward pressure in interbank markets as financial sector troubles have made it more difficult for banks to raise funds. Following are some major steps the Fed has taken to provide funding to the banking system.
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