European carriers suspend more Tel Aviv flights amid ongoing safety concerns China factory activity at 18- month high as mini-stimulus for No. 2 economy takes effect Facebook on a roll as 2nd- quarter earnings, revenue surpass expectations Standard& Poor's 500 index ekes out all-time high after Apple and Boeing report earnings Still-slow rebound belies a sturdier economy with less consumer debt and more educated workers Hyundai Motor's 2 Q profit dips due to strong South Korean won IMF sees US growth this year at weakest pace since recession after sharp 1 Q contraction South Korea unveils stimulus plans as shock of ferry sinking slows growth Atlantic City mayor says 6 potential buyers for Revel casino; Atlantic Club may be re-sold New Zealand raises benchmark interest rate to 3.5 percent but signals pause in future hikes» Read More
Global stocks rose again Thursday as investors took heart from signs of improvement in the U.S. economy after the Federal Reserve tweaked its policy statement to say that the economic outlook was improving. But experts on CNBC were mixed on when the economy will recover.
NOT SEEN ON T.V.: Depending on what you use them for, John Ulzheimer has the three cards that should be in your wallet.
The U.S. economy contracted at a surprisingly sharp 6.1 percent rate in the first quarter reflecting continuing economic woes. In the meantime, President Obama marks his 100th day in office while analysts anxiously await the latest from the FOMC's interest rate decision due this afternoon. (UPDATED with the Fed decision, below). Read and listen to what experts had to say...
Below is the statement released by the Federal Open Market Committee after its Apr. 28-29 meeting on interest rate policy:
Senate Majority Whip Richard Durbin (D-Illinois) Thursday will take so-called bankruptcy cramdown legislation to the floor, seeking a vote on the controversial proposal, say Congressional and industry sources.
Yesterday the Treasury Department announced another element to the Home Affordable Modification Program (one part of the Making Home Affordable Program). It addresses what has been a big impediment to loan modifications so far, that is, second liens. Of the $12 trillion mortgage market, about $1 trillion are second liens (often called “piggyback loans”). According to the NY Times, 70 percent of those are held by banks.
The economy contracted at a steeper-than-expected pace in the first quarter, weighed down by sharp declines in exports and business inventories.
Ahead of the May 4 bank stress test results, experts tell CNBC that the financial system may not be in the clear yet.
South Korea posted a record current account surplus for March as exports rose for a second consecutive month, central bank data showed on Wednesday, cementing hopes the worst for the economy is over.
Consumers hoping that the worst of the recession is over may be setting themselves up for disappointment, a panel of economists said Tuesday.
Federal Reserve policymakers are weighing whether additional steps are needed to brace the economy as an outbreak of the swine flu has emerged as a potential new danger that could aggravate the recession.
It may be the safe-haven choice of the financial crisis, but experts tell CNBC that cash will underperform over the next 10 years.
South Korea's economy averted a recession in the first quarter thanks to pump-priming and rate cuts, the central bank said on Friday, supporting market bets that interest rates had troughed.
“One thing he excels at is setting realistic expectations with his audiences,” says one crisis management consultant. “He’s been careful not to over-promise.”
NOT SEEN ON T.V.: Sick of dealing with lowered limits and higher rates? One way to combat the credit industry's tactics is to go small, says John Ulzheimer.
Today I continue to follow my colleague's journey through a short sale. She started her journey on Friday.... This experience has been a nightmare for my colleague so far, dealing with the bank and the owners.
The author of the Credit Cardholder Bill of Rights tells us how the legislation will help, despite what the credit card industry has to say about it.
An ideal interest rate to help the US economy to cope with the recession would be a negative 5 percent, the Financial Times reported on its Web site, quoting an internal Federal Reserve analysis.
Global stocks were down Monday, after enjoying 7 weeks of gains, as concerns of the outbreak of swine flu spooked investors. But experts tell CNBC that stocks are still a good long-term bet.
The following is the full text of U.S. Federal Reserve Chairman Ben Bernanke's "Housing, Mortgage Markets and Foreclosures" speech issued in Washington Thursday and delivered before before the Fed conference on Housing and Mortgage Markets: