World Economy


  • ECB's Mersch Expects Euro-Zone Slowdown: Report Wednesday, 16 Jan 2008 | 12:13 PM ET

    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 Eases Below $90 as Crude Stocks Grow Wednesday, 16 Jan 2008 | 12:02 PM ET
    Oil Pump

    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 Sink on US Recession Fears Wednesday, 16 Jan 2008 | 5:07 AM ET

    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.

  • UK House Prices Fall at Fastest Rate Since 1992: RICS Wednesday, 16 Jan 2008 | 4:07 AM ET

    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 Sours in January Tuesday, 15 Jan 2008 | 10:44 PM ET

    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 Machinery Orders Fall Less Than Expected Tuesday, 15 Jan 2008 | 8:50 PM ET

    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.

  • Economic Reality "Bites" The Presidential Candidates Tuesday, 15 Jan 2008 | 4:26 PM ET

    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.

  • Consumer Spending: Now Down To Just A "Trot?" Tuesday, 15 Jan 2008 | 3:55 PM ET

    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 Slides Below $92 on US Economy Concerns Tuesday, 15 Jan 2008 | 12:00 PM ET
    Oil Refinery in California

    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.

  • Euro Stocks End Lower on Retail, Banks Tuesday, 15 Jan 2008 | 11:59 AM ET

    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.

  • Dollar Drops to 2-1/2 Year Low vs. Yen Tuesday, 15 Jan 2008 | 11:35 AM ET

    The dollar Tuesday fell to its lowest against the yen since June 2005 and extended declines against the euro after U.S. retail sales data provided further evidence an economic slowdown was spreading to the consumer.

  • Verbal Volleys Fly at EGM Tuesday, 15 Jan 2008 | 8:16 AM ET

    Northern Rock threatens to withhold coffee unless angry shareholders wrap things up on time. Metaphors of dogs on leashes and captains of ships fly, as a beleaguered chairman faces the silky eloquence of activist investors.

  • Asian Markets Finish Lower, Hong Kong Hit Hard Tuesday, 15 Jan 2008 | 5:24 AM ET

    Asian markets reversed gains, finishing in negative territory Tuesday with both Japan and South Korea closing down 1 percent and Hong Kong losing 2.4 percent .  The Nikkei sank below the key 14,000 support level while the KOSPI finished at five-month lows.

  • German 2007 Growth Buoyed by Trade, Investment Tuesday, 15 Jan 2008 | 5:15 AM ET

    Strong trade and investment powered the German economy to its second straight year of robust growth in 2007, preliminary data showed on Tuesday, but Europe's largest economy is expected to slow this year.

  • UK Retail Inflation Stays Steady in December Tuesday, 15 Jan 2008 | 4:53 AM ET

    British annual consumer price  inflation held at 2.1 percent as expected in December, above the  Bank of England's target for the third month running, official  data showed on Tuesday.

  • Greenspan Joins Hedge Fund as Advisor Tuesday, 15 Jan 2008 | 3:00 AM ET

    The U.S. economy is probably in a recession or about to slide into it, former U.S. Federal Reserve Chairman Alan Greenspan said in an interview with The Wall Street Journal.

  • China to Cap 2008 Lending at 3.6 Trillion Yuan Monday, 14 Jan 2008 | 9:10 PM ET

    China's central bank has set a target of capping new domestic-currency lending in 2008 at last year's level of 3.63 trillion yuan, state media reported on Tuesday.

  • Oil Ends Up at $94.20 as Commodities Gain Monday, 14 Jan 2008 | 4:25 PM ET
    Oil Refinery in California

    Oil ended above $94 per barrel on Monday, halting a three-day losing streak, amid a wider commodities rally -- and as the dollar's weakness and tensions involving Iran countered worries of a global economic downturn.

  • After 2 days of watching a slew of new models be introduced at the Detroit Auto Show, some impressions. 1. The Nissan GT-R is even more spectacular in person than I thought it would be.  it a Corvette "killer" that will replace the American sports car as the speedster that delivers the best bang for the buck?

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