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Germany's two-trillion-dollar economy emerged from a long period of stagnation last year to post a 2.2% growth rate, cutting unemployment to about 7%. The last two decades have been dominated by the modernization and integration of the economy of the former East Germany, a costly, long-term process.
France is transitioning from an economy featuring extensive government ownership and intervention to one that relies more on market mechanisms. Many large companies have been partially or fully privatized, with the government relinquishing stakes in such big firms as Air France, France Telecom, and Renault. The government continues to hold major interests in the power, public transport, and defense industries.
Stocks ended broadly higher amid continued strength in the tech sector, which gained following Research in Motion's deal to distribute BlackBerry smartphones in China, along with strong earnings reported by Apple.
Oil fell Tuesday, as concerns about U.S. economic health and signs OPEC was ramping up output pulled prices further from the record above $90 struck last week.
The U.S. economy still faces pressure from a drawn-out housing-market slowdown but will "probably not" slip into recession as a result, former Federal Reserve Chairman Alan Greenspan said Tuesday.
The divide between strong international/weak domestic is nowhere more evident than with Whirlpool. Whirlpool noted that the strength was in international and the costs savings generated by the Maytag acquisition.
Asian stocks closed higher Tuesday, reversing two straight sessions of declines. But Japan finished almost unchanged on lingering worries about high oil prices and the full impact of the U.S. housing slump on its economy.
Chicago Federal Reserve Bank President Charles Evans said on Monday that outside of housing the U.S. economy is "moving forward," and that the Fed could not afford to go soft on inflation.
Oil fell sharply toward $87 per barrel Monday, as part of a broad-based commodities sell-off on concerns over the health of the U.S. economy and a recovery in the U.S. dollar.
Marc Faber, editor and publisher of The Gloom, Boom & Doom Report, thinks the worst is yet to come for the global economy. Appearing on CNBC's "Squawk Box," the economist and managing director of Marc Faber Ltd., explained his bearish outlook -- and offered advice for how to play a glum market.
Is the U.S. dollar bottoming? CNBC's Rick Santelli thinks it might be. The dollar has been on a downhill slide against the euro and other currencies for weeks now. As of the end of last week, the dollar lost 7.7% against the euro since the beginning of the year, and it continued to move lower overnight. But it did a reversal this morning, and that makes Santelli think it's time to look at the charts.
Traders expecting a sloppy day, with weakness at the open, but many are anticipating an attempt to stabilize right after that: others insist there is no reason to step in and be a hero on the long side.
The liquidity squeeze which has affected the global financial markets in the past three months is not likely to cause a correction in the UK housing market, Peter Spencer, chief economic advisor for Ernst & Young's Item Club, told CNBC's "Squawk Box Europe" Monday.
The dollar rebounded from a fresh low on Monday after as traders pared back bets against the currency after the weekend's Group of Seven meeting yielded no call to action on the falling greenback.
Worry about slowing economic growth and a new bout of credit fears ignited the global sell off in stocks which continues into the U.S. open. Wall Street was the first market to spiral downward in Friday's big sell off amid worries the U.S. sub prime mess will take longer to sweep away than expected and is fanning out into other types of credits.
Asian markets closed lower Monday, but pared back heavy losses suffered in the morning session and India's Sensex eked out a slight gain. Japan ended 2.2 percent lower while South Korea dropped 3.3 percent.
Australian producer prices rose faster than expected last quarter, led by higher food and construction costs, fueling concerns consumer inflation could accelerate enough to provoke another hike in interest rates.
World Bank President Robert Zoellick on Sunday won support from bank member countries for his strategy to lead the poverty-fighting institution for the next five years, including plans to give the private sector a bigger role in poor countries.
An unusually high degree of risk taking across asset classes made recent financial market turmoil all but inevitable, former Federal Reserve Chairman Alan Greenspan said Sunday.
The dollar hit a fresh record low against the euro and a basket of currencies on Friday, pressured by the growing view that a slowdown in the U.S. economy will force another cut in interest rates this month.
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