World Economy


  • Goldman Sachs' Forecast: Recession Odds Increase Tuesday, 27 Nov 2007 | 1:06 PM ET

    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.

  • Consumer Mood Worsens Due to Gas Prices, Markets Tuesday, 27 Nov 2007 | 12:08 PM ET

    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 Slashes Growth Outlook, Sees Lower Rates Tuesday, 27 Nov 2007 | 11:15 AM ET

    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.

  • Dollar Gains in Volatile Session After Citi News Tuesday, 27 Nov 2007 | 11:09 AM ET
    Exchanging Dollars and Euros

    The dollar rose against most major currencies Tuesday after Citigroup Inc.  said it will sell a $7.5 billion stake to the Abu Dhabi government, restoring some confidence in battered U.S. banks.

  • Volkswagen: Can It "Drive" Down A Successful Road? Tuesday, 27 Nov 2007 | 11:03 AM ET

    It's hard for me to find a more perplexing automaker than Volkswagen. Mainly because it is a brand and a company with so much potential, so much brand loyalty, and yet, from my perspective, it has not achieved what it should.

  • German Business Morale Rebounds Despite Firm Euro Tuesday, 27 Nov 2007 | 6:25 AM ET

    German business sentiment unexpectedly improved in November for the first time since April as firms took a more upbeat view about their current situation and shrugged off concerns about the strong euro.

  • Asian Markets Close Mixed, Financials Gain Tuesday, 27 Nov 2007 | 5:01 AM ET
    A stockbroker watches his terminal during trading in Bombay, India, Thursday, May 18, 2006. Indian shares plunged Thursday, with the benchmark stock index tumbling 6.8 percent, or more than 800 points, its biggest point drop ever, largely on fears of higher taxes on foreign funds that invest in Indian stocks. (AP Photo/Rajesh Nirgude)

    Asian markets see-sawed in volatile trade Tuesday to end mixed as financial counters rebounded on news that Citigroup will receive a large cash infusion from the investment arm of the Abu Dhabi government. The news pushed the Japanese and South Korean markets back into the black after spending most of the session in negative territory.

  • Happy Holidays? Recession Worries Are On the Rise Monday, 26 Nov 2007 | 6:26 PM ET
    Foreclosured Home

    A parade of economic data in the next couple weeks will tell volumes about the economy and the Fed’s chances for achieving a soft landing.

  • Schumer’s Letter to FHFB Chairman Rosenfeld Monday, 26 Nov 2007 | 5:08 PM ET

    Read the full text of Sen. Chuck Schumer’s letter to Federal Home Loan Bank Chairman Ronald Rosenfeld, urging an end to cash advances for Countrywide Financial.

  • Oil Falls Below $98 as Saudis Boost Output Monday, 26 Nov 2007 | 3:28 PM ET
    Oil Refinery in California

    Oil prices were down as Saudi Arabian officials told CNBC that the country is increasing November production ahead of a planned Dec. 5 meeting of the Organization of Petroleum Exporting Countries.

  • Credit Watch: Fed to Pump More Funds Into Markets Monday, 26 Nov 2007 | 12:50 PM ET

    The U.S. Federal Reserve and European Central Bank announced plans to pump more funds into troubled money markets to give banks enough cash to tide them through a year-end squeeze.

  • Dollar Little Changed vs. Euro on US Rate Outlook Monday, 26 Nov 2007 | 11:43 AM ET
    Dollar and Euro

    The dollar was little changed against the euro and down against the yen Monday with investors finding few reasons to change their view that more Federal Reserve interest rate cuts are imminent.

  • Ex-U.S. Treasury Head Summers: Recession Likely Monday, 26 Nov 2007 | 11:37 AM ET

    The odds now point to a U.S. economic recession that slows global growth significantly even if necessary policy changes are implemented, former U.S. Treasury secretary Larry Summers said.

  • Asian Stocks Close Higher, Shanghai Slips Monday, 26 Nov 2007 | 5:15 AM ET

    Asian markets surged to close firmly in the green Monday, with the exception of China's Shanghai Composite index, reversing four straight weeks of losses. Tokyo gained 1.6 percent, but South Korea came out tops with a whopping 4.7 percent advance.

  • Week Ahead: Credit Worries Abound Friday, 23 Nov 2007 | 2:22 PM ET

    Credit worries and concerns that the economy is slowing are likely to continue sending shock waves into the stock market in the week ahead. But any signs that the holiday shopping season will be stronger than expected could help confidence.

  • Oil Tops $98 on Dollar, Supply Concerns Friday, 23 Nov 2007 | 1:48 PM ET
    Oil Refinery

    Oil rose above $98 per barrel on Friday, still in sight of the $100 milestone, reflecting moves in the U.S. dollar and amid signs some OPEC members have been raising output ahead of their policy meeting next month.

  • Dollar Recovers Slightly vs. Euro, Yen in Thin Volume Friday, 23 Nov 2007 | 11:26 AM ET
    Dollar and Euro

    The euro set a fresh record high against the dollar early  Friday, though the $1.50 level remained out of reach when the euro was knocked more than a cent off its peak by comments from a euro zone policymaker.

  • ECB Policymakers Warn on Growth, Currencies Friday, 23 Nov 2007 | 11:00 AM ET

    European Central Bank policymakers said Europe's growth outlook was deteriorating and warned of the risks attached to "brutal" currency movements after the euro hit new highs against the dollar on Friday.

  • Greenspan: Housing Prices Haven't Bottomed Yet Friday, 23 Nov 2007 | 9:48 AM ET
    Alan Greenspan

    Former Federal Reserve Chairman Alan Greenspan said on Friday that U.S. house prices have not bottomed out after a crisis in the subprime mortgage market.

  • Asian Stocks End Mixed, Hong Kong Rallies Friday, 23 Nov 2007 | 4:59 AM ET

    It was a mixed session for Asian stocks on Friday with some markets gaining ground as investors picked up beaten-down shares after a six-session losing streak. But trading was dulled by holidays in Japan and the United States.

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