BEIJING, Dec 18- The slide in the rouble has not had a major impact on China's cross-border foreign exchange flows, an official with the Chinese foreign exchange regulator said on Thursday. The comments come as global markets have been roiled by turmoil in Russia's financial markets, which forced the central bank to hike interest rates 6.5 percentage point in a...» Read More
Citigroup’s $18.1 billion-dollar writedown has to make you wonder what’s real and what’s fear. What am I talking about? Okay, all these write downs that we’ve been hearing about over the last few quarters are all about the performance of subprime mortgages, or are they?
British annual consumer price inflation held at 2.1 percent as expected in December, above the Bank of England's target for the third month running, official data showed on Tuesday.
The U.S. economy is probably in a recession or about to slide into it, former U.S. Federal Reserve Chairman Alan Greenspan said in an interview with The Wall Street Journal.
China's central bank has set a target of capping new domestic-currency lending in 2008 at last year's level of 3.63 trillion yuan, state media reported on Tuesday.
U.S. consumers are tightening their purse strings, and the squeeze may be severe enough to topple the U.S. economy into recession.
Stocks closed sharply higher after IBM's improved outlook kicked off a market rally.
When I heard the news this morning, I thought it was a breakthrough: the first piece of news signaling that bottom to this housing market. An analyst at Credit Suisse upgraded the home-improvement sector. Fantastic.
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.
A private gauge of Australian inflation rose sharply in December as fuel, borrowing costs and rents all climbed, heightening the risk that official inflation figures could be alarming enough to warrant a rate hike.
The biggest lender isn’t going under, but it is going under new ownership, and as goes Bank of America, so goes Countrywide. Call it the "clean-up of Countrywide." Here’s the difference: Countrywide was the everyman lender, out on the street, dealing with brokers, correspondents, promising everyone...
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.