World Economy


  • BHP Billiton Seeks to Grow Aggressively in India Friday, 24 Aug 2007 | 4:20 AM ET

    BHP Billiton, the world's biggest mining company, said it would seek to grow aggressively in India where volume growth is outstripping China, its other boom market.

  • U.S. stocks bounced off earlier lows but closed with small losses amid ongoing worries regarding the global credit environment. "The conventional logic was that the worst was behind us but then reality set in and there's still trouble out there," said Dan McMahon, head of listed trading at CIBC World Markets.

  • Central Banks Worried Turmoil May Linger Thursday, 23 Aug 2007 | 10:52 AM ET

    Global financial turmoil prompted the Bank of Japan to hold rates on Thursday and warn that the tremors would take time to settle, and the European Central Bank was inundated with demand at a new money market tender.

  • The number of U.S. workers filing new claims for jobless aid fell 2,000 last week, government data Thursday showed, while the number of people still collecting benefits rose to its highest since April.

  • Germany Posts First Half Budget Surplus Thursday, 23 Aug 2007 | 6:31 AM ET

    Germany posted a public sector budget surplus in the first six months of 2007, the first time it has achieved this in the January-June period in nearly two decades, the Federal Statistics Office said on Thursday.

  • German Growth Slows Quarter-on-Quarter Thursday, 23 Aug 2007 | 5:34 AM ET

    The pace of growth in Europe's biggest economy slowed from the first quarter to the second quarter, the German government said Thursday as it issued its final numbers on growth for the country of 82 million people.

  • On Catching Knives, Pianos and Bouncing Safes Thursday, 23 Aug 2007 | 4:33 AM ET

    The markets have their own lexicon and volatile markets generate their own chapter of colorful metaphors. This last week we have been treated to exhortations not to catch falling knives, falling pianos or any other objects which would cause severe pain if diverted from their gravity-bound course.

  • The Bank of Japan left its key policy rate unchanged for the sixth month running on Thursday, as expected in the wake of a global markets shake-out, with the focus now on how long it will delay its next hike.

  • A late rally pushed U.S. stocks sharply higher at the close as takeover news and rate-cut speculation overshadowed jitters about tighter credit markets. "We think that liquidity is returning to the market after being problematic," said Kevin Cronin, head of investments at Putnam. "We think the Fed's actions last week righted the ship."

  • Fed Rate Cut Seen for Sept. 18: Economist Poll Wednesday, 22 Aug 2007 | 12:45 PM ET

    A global credit squeeze has most economists convinced the Federal Reserve will come to the rescue and cut interest rates next month, a Reuters poll showed on Wednesday.

  • New Car Buyers: Economy, Credit Crunch Slowing Them Down? Wednesday, 22 Aug 2007 | 10:27 AM ET

    Here's a question: Are you in the market for a new car or truck? It's a simple enough question, but with the economy slowing, and credit tightening up, more and more people are actually putting off buying a new ride. When I saw the latest survey of new car buyers from CNW Market Research, I was not surprised to see that 13% of the people in the market for new wheels are putting off making the purchcase.

  • Asian stocks were mostly higher in the morning session Wednesday with Japan the sole market pushing lower.  Sentiment was lifted by a decent performance on Wall Street Tuesday, but markets are expected to stay in a narrow range as both buyers and sellers hesitate to make moves.  

  • Japan Trade Surplus Falls More Than Expected Tuesday, 21 Aug 2007 | 10:04 PM ET

    Japan's trade surplus fell for the first time in nine months in July, prompting concerns about the outlook for the country's exports amid worries over a slowdown in the U.S. economy due to rising U.S. mortgage defaults.

  • U.S. stocks ended mixed as the investors looked for signs that the Federal Reserve may cut interest rates again soon.  "I think it's encouraging that we are kind of stabilizing after last week's turmoil,"  said Alec Young, equity market strategist at Standard & Poor's.

  • Accredited Home Selling $1 Billion in Mortgage Loans Tuesday, 21 Aug 2007 | 11:14 AM ET

    Struggling subprime mortgage lender Accredited Home Lenders Holding on Tuesday said it agreed to sell $1 billion of home loans to an unnamed investor, a move it said would limit its exposure to margin calls.

  • The U.S. Federal Reserve took several more steps Tuesday to add to the liquidity of the banking system.

  • Foreclosures Rise Sharply in July Tuesday, 21 Aug 2007 | 8:27 AM ET
    A home is advertised for sale at a foreclosure auction in Pasadena, California.

    Foreclosure filings rose 9 percent from June to July and surged 93 percent over the same period last year, with Nevada, Georgia and Michigan accounting for the highest foreclosure rates nationwide, a research firm said Tuesday.

  • German Business Sentiment Sinks on Credit Worries Tuesday, 21 Aug 2007 | 7:45 AM ET

    A global credit crunch pushed German investor morale to its lowest level in eight months in August, raising pressure on the European Central Bank (ECB) to keep interest rates on hold for the time being.

  • Euro Zone June Trade Surplus Grows Tuesday, 21 Aug 2007 | 5:43 AM ET

    The euro zone's foreign trade surplus soared more than expected in June from the previous month, data showed on Tuesday, as exports grew twice as fast as imports despite a strong euro.

  • U.S. stocks ended mixed but were well off the day's lows amid sustained credit market worries. "We're probably through the brunt of the volatility stage," said Keith Wirtz, chief investment officer at Fifth Third Asset Management.

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