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Asian stocks closed mixed after a volatile trading session Thursday as investors flitted between profit-taking and bargain-hunting. Japan finished 2 percent higher -- it was down almost 1 percent at one point -- but Australia closed lower for the ninth straight session.
Fed Chairman Bernanke has indicated he is open to congressional and White House efforts to develop a rescue package to avert a recession.
The euro zone's trade surplus shrank more than expected in November amid a strong euro as imports grew faster than exports, the European Union's statistics office said on Thursday.
China's recently introduced price controls are aimed at stabilizing inflationary expectations and will not distort the market economy, planning officials said on Thursday.
Employment in Australia recorded another solid rise in December while the jobless rate fell by more than expected, underlining a domestic case for a rise in interest rates, even as a troubled global outlook argued against one.
Democratic and Republican leaders of the U.S. House agreed to develop a bipartisan economic stimulus plan to help avert a possible recession.
The euro plunged against the U.S. dollar after a European Central Bank official told Bloomberg News the central bank may revise down its euro zone growth forecasts for 2008.
Federal Reserve Chairman Ben Bernanke wants Congress to act quickly to pass an economic stimulus package, Sen. Charles Schumer told CNBC.
The U.S. economy continued to grow in the final weeks of the fourth quarter but the paceof activity slackened amid subdued holiday spending and a weak housing sector.
There are downside risks to euro zone growth and the European Central Bank will remain flexible on interest rates, Governing Council member Yves Mersch was quoted as saying on Wednesday.
Oil slid more than $2 to below $90 on Wednesday, for the first time since mid-December, due to a large rise in crude stocks in the United States amid signs that slowing U.S. economic growth will erode fuel demand.
Asian markets took a severe beating Wednesday on growing concern the U.S. economy would slump into a prolonged recession. Hong Kong's Hang Seng ended 5.4 percent lower and Japan's Nikkei index plunged over 3 percent. Even the best performing of the benchmark indexes, the Bombay Sensex, suffered a loss of 1.8 percent.
British house prices fell in December at their fastest rate since the recession of the early 1990s, a survey showed on Wednesday, raising fears the country's once buoyant housing market is heading for a sharp downturn.
Australian consumer sentiment soured in January as rising petrol prices and borrowing costs combined with sliding equities and global gloom to take the gloss off an otherwise robust economy, a survey showed on Wednesday.
Japan's core machinery orders fell less than expected in November while wholesale inflation was higher, but the data did little to alter views the Bank of Japan will hold back on raising interest rates this year.
Received political wisdom is running smack into economic reality. It’s not yet clear which force will prove more powerful. For presidential contenders, the collision takes place in Michigan, Nevada and South Carolina.
As crude hit $100 a barrel, I thought about slapping a “For Sale” sign on my car rather than taking one more painful trip to the gas station. I hear wonderful things about public transportation. Meeting new people, smelling new smells.
Anecdotal evidence that the U.S. consumer's marathon spending spree may be slowing to a trot increases daily. By some measures, the U.S. consumer makes up about 19 percent of the world economy and 70 percent of the U.S. economy, so the health of American consumption is key.
Oil fell more than $2 a barrel to belwo $92 on Tuesday after data showed a decline in U.S. retail sales, adding to concern that the world's top fuel consumer is heading into a recession.
European markets ended sharply lower Tuesday, tracking U.S. stocks, which were dragged down by weak retail sales and an announcement by Citigroup of a bigger-than-expected fourth-quarter loss of $9.83 billion.
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