China's factory activity expanded at its fastest in 18 months in July as new orders surged while the euro zone's private sector also perked up.» Read More
Oil slid to a six-week low below $89 a barrel on Monday as stock markets fell and concern mounted over an economic slow-down led by top consumer the United States.
Europe's major stock indexes suffered their biggest one-day selloff since Sept. 11, 2001 Monday and lost over $300 billion in market value.
It was a dismal session for Asian stocks Monday, with markets dragged down by financial counters. Japan finished almost 4% lower. South Korea shed nearly 3% and Australia declined for the 11th straight session, down 2.9%.
Australia's producer prices rose by less than forecast last quarter as falls in the price of food and imported electronics helped temper rising fuel and construction costs, taking some steam out of inflation fears.
A heavy gloom hanging over Wall Street may deepen this week unless such bellwether companies as Apple and United Technologies provide investors with hope that the U.S. economy can avert recession.
Agreement between the White House and Congress that the stumbling U.S. economy needs help was a big first step but it was clear Saturday there was room for sparring over crafting a rescue package.
Major U.S. indexes have broken key technical support levels, leaving the stock market vulnerable to further declines and the turbulence could get worse, according to chart watchers.
Bidding to seize control of the accelerating debate over economic stimulus, former Massachusetts Gov. Mitt Romney is proposing a package with something for everyone. In an interview this afternoon, Mr. Romney said he will propose:
Forget rate cuts and stimulus packages. In Wall Street's eyes, the recession is already here and the credit crunch is far from over.
If you're worried about losing your job, being able to afford your mortgage or paying your heating bill, you're likely to ease up on the money you spend on energy--whether its filling up the gas tank less often or putting on more sweaters in your house.
Why are the markets yawning even though the President has announced a stimulus package? The reason is that 1) The extent of the consumer slowdown is uncertain, and 2) The extent of the global slowdown is uncertain.
The dollar gained against the euro and yen Friday as rising equity markets calmed investors, prompting a few to edge back into relatively risky carry trades.
Weaker U.S. growth means that more interest rate cuts are "quite possible" but inflation is also still a risk, Federal Reserve Bank of Richmond President Jeffrey Lacker said Friday.
U.S. consumers' mood brightened a bit in January, defying expectations driven by the constant drumbeat of talk about a possible recession, weak jobs market and falling stock prices.
So for bulls and bears it's a tough call either way: 1) How much do you believe the U.S. consumer is slowing down, and 2) How much ancillary slowdown will the global economy see. Bears say consumer slowdown has just begun, and global slowdown is just starting, with the U.K. already slowing.
French President Nicolas Sarkozy wants to change the law to allow workers who quit their jobs to receive unemployment benefits, as many French workers go to great lengths to get fired if they want to search for a new job.
Oil rose almost $1 to above $90 a barrel on Friday, staging a limited recovery after falling sharply this week on concern the United States would slip into recession and erode demand in the world's top consumer.
Most Asian markets managed to bounce back and close higher Friday, except for India's Sensex index which closed down by more than 3 percent.
Wall Street is sending a clear message to Washington: an economic stimulus plan and Fed rate cuts are too little, too late.
This afternoon, GM investors got the kind of good news they've been craving for several months. Talking with analysts in Dearborn, Michigan, GM's Chairman and CEO Rick Wagoner said the company plans to save an additional $5 billion by 2011.
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