The Philly Fed president is the latest central banker to suggest that weakness in the labor market is only temporary.» Read More
The Federal Reserve is unlikely to cut interest rates before its next scheduled meeting in late January but may consider doing so if the outlook deteriorates sharply before then, the Wall Street Journal reported on Monday.
Record label EMI, bought by private equity firm Terra Firma last year, is set to announce on Monday plans to cut as much as one third of its 6,000 staff, slash marketing costs and drop artists as part of a restructuring, the Wall Street Journal reported.
The U.S. trade deficit in November surged to the highest level in 14 months, reflecting record imports of foreign oil. The deficit with China declined slightly while the weak dollar boosted exports to another record high.
It's that time of the year again, when Germany's trade unions traditionally put their wage demands on the table for the opening rounds of the annual ritual that is called "collective wage bargaining". And, with the economy growing at a robust pace still and with corporate profits on the rise, the voice of the unions is getting louder again. We've already had some taste of strike this season. Is there more to come?
Consumer confidence fell to an all-time low as worries about jobs, energy bills and home foreclosures darkened people's feelings about the country's economic health and their own financial well-being.
Inventories at U.S. wholesalers rose 0.6 percent in November, but they did not keep pace with sales, which saw the biggest monthly increase in more than two years on rising petroleum prices, the government reported Thursday.
The stock market may be the deciding factor in whether the U.S. economy tips into a consumer-driven recession this year.
Fed officials from opposite ends of the ideological spectrum had a similar message Tuesday -- that further rate cuts could lie ahead.
Australia's retail sales rose by more than expected in November as strong growth in jobs and incomes offset increases in interest rates and petrol prices, suggesting rates may yet have to rise again to cool demand. Wednesday's government data showed retail sales climbed 0.8 percent seasonally adjusted in November to A$20.07 billion ($17.6 billion). That handily beat forecasts of a 0.5 percent gain while sales increased by 8.1 percent on the year, the equal highest increase since June 2004.
Treasury Secretary Henry Paulson discusses the dollar, the housing market, China and fly-fishing with the Squawk Box news team.
British recruitment firm Michael Page reported record profit numbers and an upbeat outlook Tuesday, but analysts warned staffing stocks in general may be heading for a fall because of worries over the economic outlook.
Here at CES mega digital distribution deals are making headlines. Back in LA, the big news is still the writers strike--and surprise, the big news in both Las Vegas and Los Angeles are totally entwined. The writers are striking to get a bigger chunk of the revenue from the very digital deals announced at CES.
Treasury Secretary Paulson said the Bush administration is trying to minimize the impact of a housing downturn rather than rush new stimulus measures.
A worse-than-expected report on December job growth fueled worries about a U.S. recession but also heightened speculation of more interest-rate cuts.
The poor jobs report is causing a rethinking of stock models, which are weighted toward certain sectors based on earnings expectations. Up until recently, many large traders were overweight tech, industrials and materials stocks on two assumptions.
As I stood outside the Labor Department this morning, fighting to speak through the freezing temps, and cursing the reporter who usually covers that beat but who is busy freezing himself in New Hampshire today, I couldn’t help but think that the numbers played out before me had to be wrong. I know, I know, how can a government report be wrong?? .
Stocks ended the first week of the new year with steep losses as Friday's weak employment report spurred fears of a looming recession.
The markets will quickly move from the debacle of the jobs report to earnings, and here the picture is a bit precarious as well. Fourth quarter earnings estimates have been coming down fast. We're expecting earnings for the S&P 500 as a whole to be down 9.5 percent (estimates from Thomson).
Hiring practically stalled in December, driving the nation's unemployment rate up to a two-year high of 5 percent and fanning fears of a recession.