World Economy


  • Australian Inflation Jumps, Interest Rate Rise Looms Tuesday, 24 Jul 2007 | 10:59 PM ET

    Inflation in Australia jumped past all expectations last quarter as the cost of petrol, food and health care climbed, greatly adding to the risks of a rise in interest rates as early as August.

  • Japan Trade Surplus Jumps on Solid Exports Tuesday, 24 Jul 2007 | 9:57 PM ET

    Japan's trade surplus jumped more than expected in June as exports to the United States showed signs of recovery, keeping alive expectations that the Bank of Japan will raise interest rates as early as next month.

  • South Korea's economy grew a faster-than-expected 1.7% in the second quarter from the previous quarter due to strong exports, data showed on Wednesday, reinforcing expectations for an interest rate increase soon.

  • Stocks ended sharply lower on several disappointing earnings reports and concerns about the housing industry. "The housing story has gone from bad to worse. It's pretty clear that the subprime market is not as well contained as a lot of people had been thinking," said David Rosenberg, North American economist at Merrill Lynch.

  • As Robert Palmer might sing it, 'we might as well face it, the Democratic presidential candidates are addicted to war.' Which is another way of saying that Iraq, the issue that has most driven down President Bush's popularity, is driving the debate in the Democratic debate as well. The economy is not.

  • Dollar Index at 15-Year Low on Housing Market Woes Tuesday, 24 Jul 2007 | 2:36 PM ET

    The dollar fell to a 15-year low against a basket of major currencies and a record low against the euro Tuesday, hurt by the potential for credit woes and housing market weakness to weigh on the U.S. economy.

  • GM's Yukon: Can It Slow Down Congress On CAFE Issue? Tuesday, 24 Jul 2007 | 10:16 AM ET
    General Motors

    Today on Capitol Hill, GM will renew the auto industry's push to convince lawmakers that fuel efficient vehicles are on the way. Problem is, it may do little to slow down the CAFE express in congress. For years, the auto lobby was the strongest in D.C. and, for the most part, effectively limited Congress from passing aggressive fuel efficiency standards. But this time around, Congress, fueled by the impact of high gas prices, isn't going along for the ride.

  • U.S. Treasury Secretary Henry Paulson told CNBC on Monday the United States needs to change the current corporate tax system and recommended cutting taxes in order to spur economic growth.

  • Stocks ended with solid gains on Monday as investors were encouraged by solid earnings reports and the return of brisk mergers and acquisitions activity. "We definitely had a lot of good news today," said Charles Rotblut, senior market analyst at Zacks.com. "I think we definitely could see the Dow at new highs before the week is over."

  • The dollar  edged higher against the euro Monday, recovering from a record low, as dealers awaited economic data later in the week to see if U.S. credit market turmoil has spread to other sectors.

  • The sound of marching military cadets is not normally considered the Democratic theme song. That makes the scene here in Charleston,SC, hours before the Democratic presidential candidates debate on the campus of The Citadel, decidedly out of the ordinary. But then there's nothing ordinary about this debate. In an attempt to link an old political format to new technology, questions will be posed to the candidates via YouTube.

  • Business More Upbeat On Economy, NABE Survey Shows Monday, 23 Jul 2007 | 10:50 AM ET

    After a first quarter swoon, business is more upbeat about the current quarter and the rest of the year--especially when it comes to hiring, profits and productivity, the latest survey by the National Association for Business Economics shows.

  • 2008 Presidential Contenders: The Summer Heat Is On Monday, 23 Jul 2007 | 10:14 AM ET
    Republican Candidates

    As candidates approach the fall stretch run of the 2008 presidential nomination races, candidate debates are increasingly important for the second-tier candidates struggling to stay alive. Among Republicans, former Gov. Jim Gilmore of Virginia has already dropped out. Former Gov. Mike  of Arkansas, Sen.  of Kansas, and former Bush Cabinet Secretary Tommy Thompson face increasing pressure to raise enough donations to keep their campaigns alive in competition with better known and better financed rivals.

  • Langlitz Leathers: A True American Fit Monday, 23 Jul 2007 | 9:30 AM ET

    What do Neil Young, Clark Gable, Andy Devine, Bruce Willis, Johnny Depp, Geena Davis and Jay Leno all have in common? The jacket on their back. The leather jacket. Benicio Del Toro owns 5 or 6. Those are the names of just some of the high profile folks that have worn or owned a Langlitz leather jacket.

  • Many lawmakers, along with advocates for low-wage workers, are celebrating the first increase in the federal minimum wage in a decade. Yet many acknowledge that raising it from $5.15 an hour to $5.85 will provide only meager help for some of the lowest paid workers.

  • The dollar fell to a record low against the euro Friday and was on track for its sixth straight weekly decline, weighed down by fears that losses in risky mortgage debt would hurt consumers and slow U.S. growth.

  • Stocks closed sharply lower after earnings disappointments from Caterpillar and Google, as well as continuing concerns about the subprime mortgage market weighed on the major averages. "The market is getting ragged," said Phil Roth, chief technical market analyst at Miller Tabak.

  • Senate Democrats' fruitless effort to force a withdrawal of U.S. troops from Iraq this week carries a side lesson for everyone on Wall Street watching other parts of the Washington political agenda. The lesson? From hedge fund taxes to energy legislation to expansion of government-financed health care, it appears that the domestic policy phase of the Bush presidency is pretty well over.

  • UAW Contract Talks: Separating Fact From Fiction Friday, 20 Jul 2007 | 11:49 AM ET

    Day one of the UAW contract talks kicked off with union leaders shaking hands with Chrysler executives at company headquarters in Auburn Hills, Michigan. Already I'm tiring of the news reports, talk shows, commentators and general public portraying these talks inaccurately. If I had a nickel for every time a talk show host blamed the rank and file guy at GM for all of that automakers problems, I'd be rich. So with that in mind, let's play fact or fiction.

  • CNBC's Domm: Today's Agenda in the Markets Friday, 20 Jul 2007 | 10:52 AM ET

    Earnings misses by tech darling Google and Caterpillar, one of the Dow's power drivers, are adding to a wobbly opening on Wall Street. Citigroup though is a bright spot with a better than expected 18 percent profit gain and record revenues from investment banking and overseas business.

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