*Business growth slows in China, Europe. LONDON/ BEIJING, Aug 21- Business growth in China and across Europe slowed this month, surveys showed on Thursday, providing more evidence that the world economy is stuttering and may need more monetary stimulus to keep it going.» Read More
The Fed's emergency rate cut drew a mixed response on Wall Street, though the move increased the odds of more reductions.
It’s easy to see why oil prices saw a dramatic plunge to nearly $86 a barrel overnight as equities slumped around the globe. A major player was absent and that’s why traders here at the NYMEX say the reaction in the oil market, with the U.S. market closed yesterday for the Martin Luther King Jr. holiday, may have been overdone.
The World Economic Forum's annual meeting always has a grand theme, but last year's topic of a shifting power equation could serve just as well this year as China's representation increases. Now the question is whether the U.S. still calls the tune when it comes to economic direction.
The Fed slashed U.S. interest rates by three-quarters of a point, the biggest rate cut in more than 23 years, in an emergency bid to support the U.S. economy.
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Give the guys at the blue oval credit. Their new model and new technology push is getting the attention of younger buyers. I'm not ready to say Ford's line-up is packed with models the youngsters want, but there's definitely momentum building.
If the market got what they wanted with a 75 bp cut by the Fed, why hasn't there been a stronger reaction? Futures initially rallied 40 points, but have fallen back again. There's two separate issues here:
While futures are at their lows, you would think that traders would have been in for hours, trading heavily. But volume is not that heavy; Chinese stocks down 10 percent-20 percent, and energy and material stocks are down 5 percent to 10 percent--but on light volume.
U.S. Treasury Secretary Henry Paulson said on Tuesday he was confident the U.S. and global economies were resilient but welcomed an emergency rate rate cut by the U.S. Federal Reserve as a helpful move.
I've been with CNBC since 1990, and have lived through and reported several financial crises. Each time, the economy recovered, but each one was a little different. A brief synopsis of three of these crises and what we learned.
European finance ministers voiced concern on Tuesday as stock markets spooked by recession fear bled for a second day with scant regard for assurances that Europe would weather a storm blowing from the United States.
Asian stocks took another massive leg downwards Tuesday as growing fears of a U.S. recession renewed pressures on share prices. Hong Kong’s Hang Seng finished the session 8.7 percent lower, while Australia’s major index lost 7.1 percent.
Germany's banks can expect to see further write-downs in 2008, the head of the country's central bank said on Tuesday.
The Bank of Japan left interest rates unchanged as expected on Tuesday, as fear of a U.S. recession sent stocks tumbling around the world, with the central bank poised to warn of slower growth in an economic review due out in a few hours.
The low-yielding yen rose broadly on Monday, hitting a 2-1/2 year peak versus the dollar and five-month highs against the euro as investors shunned risky trades amid a sell-off in global stocks.
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.
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