World Economy


  • China's industrial output slowed more than expected in August in a tentative sign that tightening measures and tax changes aimed at slowing the world's fastest-growing major economy may be working.

  • New Zealand Central Bank Holds Rates, Steady Outlook Wednesday, 12 Sep 2007 | 10:17 PM ET

    New Zealand's central bank kept interest rates on hold at 8.25%, as expected, on Thursday amid a slowing domestic economy and global credit market turmoil.

  • Stocks Face Pressure, Oil Higher And Dollar Lower Wednesday, 12 Sep 2007 | 6:46 PM ET

    Stocks are under pressure ahead of the opening as the dollar touches new lows, oil edges higher and Texas Instruments earning forecast disappoints. For now, stock futures are lower and European markets are mixed.

  • Fed Playing Middle Ground On Cutting Rates Wednesday, 12 Sep 2007 | 5:16 PM ET
    Federal Reserve Board Chairman Ben Bernanke delivers the board's Monetary Policy Report to the Senate Banking Committee in Washington Wednesday, July 19, 2006. "The recent rise in inflation is of concern," and possible increases in the prices of oil as well as other raw materials "remain a risk to the inflation outlook," Bernanke said. (AP Photo/Dennis Cook)

    Whether by dumb luck or intelligent design, Federal Reserve officials appear to have squeezed their way out of a dangerous policy trap.

  • Paulson Asks Lenders to Help Homeowners Wednesday, 12 Sep 2007 | 2:14 PM ET
    United States Treasury Secretary Henry Paulson

    U.S. Treasury Secretary Henry Paulson said on Wednesday a recovery in the subprime mortgage market will be slowed by a wave of interest rate resets and urged lenders to help troubled borrowers.

  • Airlie Fund Liquidates Loans as Returns Drop Wednesday, 12 Sep 2007 | 1:20 PM ET

    Airlie Group, a hedge fund manager specializing in structuring debt securities, is liquidating two bank loan portfolios after performance slumped in August, according to a letter the firm sent to investors.

  • Home Loan Demand Rises For Second Straight Week Wednesday, 12 Sep 2007 | 1:04 PM ET

    Market analysts, however, say data on mortgage applications may be artificially inflated because prospective borrowers have been filing multiple applications to obtain a single loan due to widespread tightening of lending standards resulting from a sharp rise in defaults in the subprime mortgage market, which caters to borrowers with poor credit histories.

  • Housing Woes May Push U.S. Near Recession: Forecast Wednesday, 12 Sep 2007 | 12:46 PM ET

    Ongoing weakness in the housing market will push the national economy to the brink of recession, but growth in other areas should put the country back on a slow road to recovery by 2009, according to an economic forecast released Wednesday.

  • ECB Lends Banks $104 Billion Wednesday, 12 Sep 2007 | 10:28 AM ET

    The European Central Bank lent commercial banks 75 billion euros ($104 billion) in three-month funds Wednesday, 25 billion euros more than in a previous operation last month, the bank said on its Web site.

  • Bank of England's King Refuses to Bail Out Banks Wednesday, 12 Sep 2007 | 9:28 AM ET

    Bank of England Governor Mervyn King stood firm against bailing out struggling banks on Wednesday, but hinted that interest rates had reached their peak as he made his first comments since the credit crisis swept global markets.

  • Bulls Or Bears: Who Has It Right? Wednesday, 12 Sep 2007 | 8:41 AM ET

    I've often remarked that retailers and financials are trading like a recession is already on, but industrials, techs and materials are trading like the global economy may be slowing slightly but is still holding up...who's right? The odd thing is that both may have it right.

  • Strong Earthquake Shakes Indonesia Wednesday, 12 Sep 2007 | 8:27 AM ET

    A powerful earthquake hit Indonesia on Wednesday, causing buildings to sway strongly in the capital, and authorities issued a tsunami warning for much of the Indian Ocean region.

  • IMF Warns of Slowing U.S. Economy Amid Subprime Crisis Wednesday, 12 Sep 2007 | 7:09 AM ET

    The U.S. economy will slow next year amid continued trouble in the housing market, likely leading to lower interest rates, a senior International Monetary Fund official said Wednesday.

  • Asian markets finished mixed Wednesday with Tokyo stocks closing lower on news that Prime Minister Shinzo Abe had resigned.

  • Forecast: Housing to Push U.S. to Brink of Recession Wednesday, 12 Sep 2007 | 4:48 AM ET

    Ongoing weakness in the housing market will push the national economy to the brink of recession, but growth in other areas should put the country back on a slow road to recovery by 2009, according to an economic forecast released Wednesday.

  • Chinese Retail Sales Surge, Partly on Inflation Wednesday, 12 Sep 2007 | 12:25 AM ET

    China's retail sales growth surged in August to its quickest pace in more than three years, beating forecasts, but analysts said the jump largely reflected stronger inflation, not necessarily quicker underlying growth.

  • Japan's core private-sector machinery orders jumped in July, but not enough to ease investors' concerns that the turmoil in global markets may yet unsettle the Japanese economy.  Japan's current account surplus hit a record high for the month of July, as a rising income surplus offset shrinkage in the trade surplus.

  • GOP Taking A Negative Approach On Economy? Tuesday, 11 Sep 2007 | 5:07 PM ET

    Facing intense pressures from the 2008 campaign, Senate Republican leaders are planning to ignore White House talking points about the strength of the economy under President Bush and press a more forward looking agenda.

  • Oil Irony: Prices Rise Even As OPEC Opens Taps Tuesday, 11 Sep 2007 | 4:57 PM ET

    In an ironic twist, oil prices rode to a record high on the same day OPEC agreed to open its taps. Earlier today, the Organization of Petroleum Exporting Countries said it would boost production by 500,000 barrels a day, a move forced on the cartel by worries about the possibility of a housing-induced U.S. economic slowdown.

  • ECB'S Trichet On State Of Economies Tuesday, 11 Sep 2007 | 1:29 PM ET

    The markets found few immediate take aways in the comments of Fed Chairman Ben Bernanke today which largely focused on the current account deficit and the global savings glut. But if you wanted to hear the thoughts of a top central banker on the state of the economy...

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