Global cruise lines set sail for China in pursuit of booming leisure market China fines 12 Japanese auto parts suppliers $202 million in spreading anti-monopoly probe Lowe's 2nd- quarter profit climbs on improving weather; trims full-year revenue outlook Global stocks drift as Asia gains slightly, Europe weaker amid wait for US Fed signals US home construction jumps 15.7 percent in July to 1.09 million rate, fastest pace in 8 months Bank of England board divided for the first time since 2011 on whether to raise interest rates Peanut, almond butter from Hain Celestial unit recalled due to salmonella risk Private company pays $8 million in back wages, benefits to staff at California-based prison Uncertainty in Russia, Eastern Europe causes beer sales drop for Carlsberg PetSmart to consider selling itself after pressure from investors, says it plans to cut costs» Read More
U.S. business inventories rose 0.5 percent in April, more than expected, while sales were their strongest since November, a government report showed.
Total sales at U.S. retailers rose a full percentage point in May as many consumers had more spending cash in their wallets from government rebate checks, a report on Thursday showed.
The Federal Reserve's leading inflation hawk told CNBC that interest rates will have to rise soon in order to keep a lid on rising prices.
The inflation outlook for 2008 in the U.S., Japan, euro zone and the UK rose again in June, triggering big revisions to economists' interest rate forecasts, Reuters polls showed on Thursday.
Chinese annual inflation fell in May to 7.7%, the first major break in a year-long surge, as food price increases slowed and other products resisted rising global commodity costs, the government said on Thursday.
South Korea's central bank held interest rates steady for a 10th consecutive month on Thursday, as expected, but warned Asia's fourth-largest economy faced a bigger risk from rising inflation than a domestic slowdown.
Here is a building, completed in 1930 and built to house the headquarters of the once-great American auto manufacturer, being sold to the folks who are holding a death-grip on America’s wallets.
The US economy remained "weak" in May as consumer spending slowed due to higher energy and food prices, the Federal Reserve said in its Beige Book summary.
Fed Vice Chairman Donald Kohn hinted that the central bank is inclined to leave rates steady despite rising inflation worries.
The standard of living has decreased for many Americans, a trend that will reverse only after the troubles in the housing market work through, Pimco Managing Director Paul McCulley said on CNBC.
China's factory-gate inflation inched up to 8.2% in May, nearing a four-year high, suggesting that any moderation in consumer inflation in coming months may be limited.
Japan's growth has been revised up to 1 percent for the first quarter but this may be the last hurrah for the world's No.2 economy as surging raw material prices and a global economic slowdown bite.
Why trying to solve both problems at the same time could lead to disaster.
Stocks struggled to hold gains Tuesday as bank stocks rallied but comments from Bernanke hung over the market like a cloud. Oil dropped more than $3 to settle at $131.31 a barrel.
The Federal Reserve hopes tough talk on inflation will do the job of moderating price increases, giving it room to avoid raising interest rates.
Stocks ticked higher Tuesday as the rally started in bank stocks and then filtered into the broader market.
Blue chips tried to muster an advance Tuesday, encouraged by a rally in bank stocks, but comments from Bernanke hung over the market like a cloud.
World stocks hit their lowest in almost two months, major government bonds tumbled and the dollar jumped after the Fed chief fired another warning on inflation.
Yes, it's good news that people appear to be buying homes again, but even the NAR admits they're buying homes in the areas where prices have fallen the most. More houses are becoming affordable, but prices are still in a downward spiral.
Back in 2006 the Pending Home Sales Index tracked closely with the real Existing Home Sales numbers, showing that contracts signed did in fact jibe with real closed sales. But come summer of last year (and the start of the credit crisis), you can see those lines diverge, and they’re still going.