LONDON, Sept 15- Gold rose on Monday as European shares tumbled on disappointing data from China, but the metal was still near an eight-month low ahead of a Federal Reserve policy meeting that may signal an early interest rate increase.» Read More
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?
Bank of Japan Governor Toshihiko Fukui said on Friday the pace of growth was slowing, as markets started pondering the risk of a Japanese rate cut.
Bernanke said he "stands ready to take substantive additional action" to help the economy, implying the Fed would cut interest rates. Stocks briefly rallied on that, then fell back. What really got stocks going was talk that there might finally be signs of a bottom.
Fed Chairman Ben Bernanke said the central bank was ready to cut interest rates again to prevent housing and credit problems from plunging the U.S. into a recession.
As the Journal announced that Bank of America was in advanced talks to buy Countrywide, thrifts have shot up: Countrywide up 52 percent, Washington Mutual up 9 percent, Downey up 6 percent.
The betting is no longer on whether there's a half point rate cut coming, it's when, and how much more will follow. Fed Chairman Ben Bernanke was surprisingly blunt in much anticipated comments today. He made it clear the Fed will take action to stop economic decline and it will be aggressive.
When central bankers speak, markets listen. That's why we're all waiting for Fed Chairman Ben Bernanke's comments on the economy at 1 p.m. today. But it looks like European Central Bank President Jean-Claude Trichet beat him to the punch.
European shares lost ground on Thursday, hitting their lowest point so far this year after the European Central Bank reinforced its willingness to raise rates to counter inflation.
U.S. mortgage applications sank last week to the lowest level since the end of last year despite falling borrowing costs, an industry trade group said Thursday.
I'm reporting from "Real Estate Connect NYC" a conference of real estate agents, online real estate services and some finance-type folks thrown in for good measure. So you've got Zillow, RealtyTrac, Bankrate, Coldwell Banker, Century 21, and it's all about data.
The European Central Bank left interest rates unchanged on Thursday amid continuing uncertainty regarding the outlook for the economy.
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 Bank of England left interest rates on hold at 5.5 percent Thursday, despite clear signs of weakness in the retail and housing sectors.
The Bank of England is likely to hold interest rates steady at 5.5 percent when it meets Thursday, analysts told CNBC.com, but it looks set to resume its monetary-easing strategy in February.
The European Central Bank seems to have little choice but to keep rates on hold this time as well, despite rising inflation. Money markets are still not back to normal and there are signs of a weakening economy.
South Korea's central bank held its main interest rate steady at 5.00 percent on Thursday, as widely expected, deciding not to tighten to tackle rising inflation as it remains cautious over the risk of a global economic slowdown.
After putting the kibosh on rumors yesterday that the company was going under, Countrywide Financial today put out its December operational results, a few days early I might add. The release begins, “Our fourth quarter ended with a number of positive operational trends,” says President and COO David Sambol. He’s talking about loan fundings, up a bit from November and ahead of forecasts. .
The stock market may be the deciding factor in whether the U.S. economy tips into a consumer-driven recession this year.