World Economy


  • Investment bank Goldman Sachs has slashed its forecasts for economic growth in the United States, Japan and Europe, joining numerous forecasters who are abruptly changing view since the start of a global credit crunch.

  • Euro-Zone Inflation, Sentiment Signals ECB on Hold Friday, 28 Sep 2007 | 7:26 AM ET

    Euro zone inflation rebounded in September above the European Central Bank's target for the first time in a year but market turmoil depressed economic sentiment, making another ECB interest rate rise less likely.

  • Freddie CEO Says 40%-45% Chance of Recession: FT Friday, 28 Sep 2007 | 5:41 AM ET

    The chief executive of Freddie Mac warned that the U.S. economy faces a 40% to 45% risk of recession induced by the housing market downturn, the Financial Times reported on its Web site.

  • Asian markets finished the week mixed Friday with Australia setting a new record as the surge in oil and commodity prices boosted shares of resource producers. But Japanese stocks lost steam after yesterday's advance and finished the day weaker.

  • France's Strauss-Kahn Expected to Be Named IMF Chief Friday, 28 Sep 2007 | 4:42 AM ET
  • Congress Sends Bill to Avert Government Shutdown Friday, 28 Sep 2007 | 4:24 AM ET

    The U.S. Senate Thursday passed and sent to President Bush a temporary spending measure to keep the federal government running through Nov. 16, giving Democrats and Republicans time to work out budget disagreements.

  • Fed's Mishkin Says Inflation Is Low Thanks to Policy Friday, 28 Sep 2007 | 4:01 AM ET

    Tight central bank monetary policies and well-grounded expectations of low inflation are to thank for low inflation in recent years, not globalization, Federal Reserve Governor Frederic Mishkin said on Thursday.

  • Greenspan: Less than 50% Chance of Recession Friday, 28 Sep 2007 | 3:57 AM ET

    The probability of the U.S. economy slipping into recession has increased recently but is still less than 50/50, former Federal Reserve Chairman Alan Greeenspan said in comments broadcast on Friday.

  • C'mon Germany, Show Me the Money! Friday, 28 Sep 2007 | 3:56 AM ET

    I am writing this in Munich airport, yet again waiting for another delayed flight. Getting around Europe these days by aircraft is a frustrating business. Planes are full and aircraft movements appear to be overwhelming the ability of both the airlines and the air-traffic controllers to keep schedules. This notwithstanding the 'flexibility' of departure times already built into the timetable.

  • IKB Warns Annual Loss Could Reach $1 Billion Friday, 28 Sep 2007 | 3:50 AM ET

    German lender IKB Deutsche Industriebank, whose near failure amid the subprime mortgage crisis sent shockwaves through Europe's financial sector, forecast its full-year loss could reach almost $1 billion.

  • German Retail Sales Decline Friday, 28 Sep 2007 | 3:33 AM ET

    German retail sales including vehicles and gas stations fell by 0.1% on the month in August in real and seasonally adjusted terms, preliminary Bundesbank data showed on Friday.

  • China Says to Tighten Property Lending Thursday, 27 Sep 2007 | 11:27 PM ET

    China on Friday unveiled a series of measures to tighten property lending in its latest attempt to cool the country's overheating real estate market and curb mortgage lending risks.

  • Japan Output Jumps, Inflation Falls for 7th Month Thursday, 27 Sep 2007 | 10:13 PM ET

    Japanese industrial production jumped in August and is seen rising further despite global market turmoil, while core consumer prices fell from a year earlier for the seventh straight month as expected.

  • Australia's September Inflation Rise, Rate Increase Eyed Thursday, 27 Sep 2007 | 10:04 PM ET

    Inflation in Australia accelerated to the top of the central bank's comfort zone in September, a private survey suggested on Friday, keeping the door open for yet another rise in interest rates.

  • Dollar Slides as Housing, Growth Fears Mount Thursday, 27 Sep 2007 | 4:48 PM ET

    The dollar fell to record lows Thursday, hit by fresh evidence that a weak housing market could crimp U.S. growth and force the Federal Reserve to cut interest rates again.

  • U.S. Stocks Close Up Modestly on Mixed Economic Data Thursday, 27 Sep 2007 | 4:27 PM ET

    Stocks ended with modest gains as better-than expected employment data overshadowed negative news from the housing industry. "Jobless claims dropping below 300,000 is a very good sign," said Michael Darda, chief economist at MKM Partners. "It really doesn't look like the labor market is falling off of a cliff here."

  • New-Home Sales Skid 8.3% To Slowest Rate in 7 Years Thursday, 27 Sep 2007 | 1:25 PM ET

    Sales of new single-family U.S. homes fell 8.3 percent in August to a 795,000 annual sales pace, its slowest rate in over seven years, while the inventory of homes dropped, a Commerce Department report showed Thursday.

  • Trichet Says Currency Volatility Harms Growth Thursday, 27 Sep 2007 | 10:50 AM ET

    European Central Bank President Jean-Claude Trichet said  excessive swings in foreign exchange levels are not good for growth. Meanwhile, the ECB lent $5.5 billion at a punitive rate on Wednesday, figures show.

  • Euro Zone Firms Borrow More Thursday, 27 Sep 2007 | 9:08 AM ET

    The credit market squeeze helped to drive growth in euro zone corporate borrowing to a record high in August, figures showed on Thursday, as some firms found that their usual funding channels had dried up.

  • Economy Grew 3.8% in Spring; Jobless Claims Tumble Thursday, 27 Sep 2007 | 9:05 AM ET

    The economy rebounded with a good head of steam in the spring before a credit crisis raised new fears about longer-term business health.

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