World Economy


  • Bush Calls for $145 Billion In Tax Relief for Economy Thursday, 24 Jan 2008 | 11:37 AM ET
    President Bush ocomments on the US Economy from the White House, with Vice President Dick Cheney, left, and Treasury Secretary Henry Paulson, right.

    President Bush on Friday called for about $145 billion worth of tax relief and other incentives to stimulate a sagging economy and fend off a possible recession.

  • Hawkish ECB Official Pushes Euro Up vs. Dollar Thursday, 24 Jan 2008 | 11:35 AM ET
    Dollar and Euro

    The dollar fell against the euro on Thursday as strong German business confidence data andtough inflation comments by a European Central Bank policy-maker dashed hopes for a near-term interest rate cut in the euro zone.

  • Ford Update: CEO Mulally Says More Job Cuts Likely Thursday, 24 Jan 2008 | 11:04 AM ET

    On the Ford 4th quarter earnings conference call, CEO Alan Mulally confirmed what we expected (more buyouts for Ford's hourly workers) and made it clear, this may not be the end of the cuts.

  • Afghanistan: Courting Capital in a Hot Spot Thursday, 24 Jan 2008 | 8:14 AM ET

    The threats of terrorism and the reliance on the drug trade loom over Afghanistan daily, but as development of basic infrastructure progresses, Finance Minister Anwar ul-Haq Ahady says the government is hoping to lure investment in its natural resources.

  • BoE has 'Room for Manoeuvre' on Rates: UK's Darling Thursday, 24 Jan 2008 | 7:57 AM ET

    The Bank of England has room to manoeuvre on interest rates but policy appropriate for the U.S. economy may not be suitable here, British finance minister Alistair Darling told parliament said on Thursday.

  • Asian Markets End Higher as Banks Gain Thursday, 24 Jan 2008 | 6:46 AM ET

    Asian markets ended mostly higher Thursday, lifted by banks and financials. Japan and South Korea both closed 2 percent higher with Australia finishing almost 3 percent higher, buoyed by a Wall Street rebound on optimism that a rescue for U.S. bond insurers may be in the making.

  • German corporate sentiment unexpectedly rose in January, a leading survey showed on Thursday, bolstering policymakers' assertions that the euro zone economy can withstand turmoil in financial markets.

  • Euro Zone Better off than the US: ECB's Liebscher Thursday, 24 Jan 2008 | 3:27 AM ET

    Euro zone growth could come in below 2 percent this year, European Central Bank Governing Council member Klaus Liebscher was quoted as saying on Thursday, but the region is better off than the United States.

  • Japan Exports Soft, Business Mood Dips Thursday, 24 Jan 2008 | 12:35 AM ET

    Exports to the United States have fallen and sentiment among Japanese manufacturers has hit a two-year low, clouding the outlook for Japan's export-reliant economy amid financial market mayhem that has prompted talk of a cut in interest rates.

  • China's Economic Growth Dips in Fourth Quarter Wednesday, 23 Jan 2008 | 9:47 PM ET
    Cranes stand on a construction site in front of newly completed apartment buildings in Beijing.

    China's economy grew 11.4% in 2007, the fastest pace in 13 years, but slowed in the final months of the year as global demand weakened and measures to curb inflation and bank lending started to bite.

  • China Replaces US as Japan's Biggest Export Market Wednesday, 23 Jan 2008 | 8:53 PM ET
    China Trade

    China overtook the United States as Japan's biggest export destination in 2007 for the first time in modern history, a symbolic move that has softened the impact of a deepening U.S. slowdown on the Japanese economy.

  • Question: Is This A Good Time To Buy A Car? Wednesday, 23 Jan 2008 | 4:07 PM ET

    It's a pretty straight forward question, and one I hear more and more people asking: Is now the time to buy a new car or truck? The deals are far from spectacular (avg. domestic incentive last month was $3,654, and the Average Asian brand incentive was $1,625) and given the shaky market and economy...

  • Investor Takeaway From Davos Wednesday, 23 Jan 2008 | 2:00 PM ET

    The key to getting any real value out of the meeting is to look past the press releases, the pronouncements, the heart-tugging speeches, and the lofty, almost new age promises of the event's themes. The best takeaway may be to try and figure out those areas where participants seem to be in strong agreement, and then position portfolios for the opposite.

  • Wall Street Now Betting On Another 3/4 Point Rate Cut Wednesday, 23 Jan 2008 | 1:38 PM ET
    Federal Reserve Bank Chairman Ben Bernanke

    Forget a half-point cut. Wall Street is now speculating that the Fed will lower rates another three-quarters of a point next week.

  • Europe Slams the Door On Interest-Rate Cuts Wednesday, 23 Jan 2008 | 1:12 PM ET
    European Central Bank President Jean-Claude Trichet

    ECB President Trichet appears to shun an interest rate cut in favor of fighting inflation, contributing to another round of selling in global stock markets.

  • "Shorted" Groups Are Strong Performers--So Far Wednesday, 23 Jan 2008 | 11:44 AM ET

    The sword-catchers are out there. There is a rotation going on: out of tech, pharma, commodities and into retail, financial. Funny day as it's another day of strong performance from the two most heavily shorted groups--financials and retailers. Again, clearly related to short covering, because these are the two most heavily shorted groups on the Street.

  • Oil Drops Below $88 as Stock Markets Resume Fall Wednesday, 23 Jan 2008 | 11:24 AM ET
    Oil Refinery

    Oil fell below $88 a barrel on Wednesday as stock markets declined further, shrugging off a temporary reprieve from Tuesday's steep cut in U.S. interest rates amid persistent fears of a global economic slowdown.

  • Markets Facing Difficult Days Over Earnings Wednesday, 23 Jan 2008 | 11:15 AM ET

    Vague rumors are again moving markets today. Europe is weak (down 5 percent) on concerns of additional losses from major banks, as well as the failure of Europe to cut rates. Thank you, Apple, because you have reminded us of something the bears keep bringing up: that we are faced with three weeks of potentially difficult earnings guidance.

  • Congressional Budget Office Doesn't Foresee Recession Wednesday, 23 Jan 2008 | 10:41 AM ET
    Hundred Dollar

    The slowing economy will not sink into an election-year recession and an economic rebound is likely beginning next year, the CBO forecast Wednesday.

  • US Economy Casts A Long, Dark Shadow Wednesday, 23 Jan 2008 | 10:17 AM ET
    Federal Reserve Board Chairman Ben Bernanke testifies on Capitol Hill in Washington, Wednesday, Feb. 14, 2007, before the Senate Banking Committee hearing on monetary policy. (AP Photo/Dennis Cook)

    There was a time when many thought Europe and the rest of the global economy might finally be able to withstand a downturn in the US. So much for wishful thinking. The spectre of a recession on top of a malignant credit crunch is the talk of the town.

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