MOSCOW, Dec 18- Russian firms are scrambling to repay or restructure the terms of foreign currency loans as the rouble's loss of value and an interest rate hike push up the cost of debt servicing. Many Russian companies increased their share of rouble-denominated debts after the 2008-09 financial crisis yet some big businesses still owe large amounts of...» Read More
Embattled British bank Northern Rock said a majority of customer calls it had received on Tuesday were to reinvest money in accounts, and queues for cash withdrawal were considerably down from past days.
European stocks rallied Tuesday, closing higher, with investors cheered by the prospect of a U.S. Federal Reserve rate cut and encouraged by the British government's intervention to reassure Northern Rock bank depositors.
The nation's top money managers, investment strategists and professional economists overwhelmingly expect the Fed to lower the federal funds rate a quarter-point, to 5%.
Since we’re all "Fed, Fed, Fed," it behooves me to weigh in on how a Fed rate cut would affect mortgage interest rates, not to mention the current mortgage despair spiral, as lenders run for cover and investors turn up their collective noses. From everything I hear, it’s not going to do much in the short term, but rather than hear it from me...
Federal Reserve policymakers are meeting today in one of the most closely watched central bank conferences in years. The Fed is slated to release its rate-cut decision at 2:15pm ET. CNBC asked the experts what they expect the Fed to do -- and what impact it will have on the economy and markets.
Tuesday Ben Bernanke and the Federal Reserve will hold their most important meeting in seven years. The afternoon decision on interest rates will likely make for the biggest trading day of the year. Find out how our traders are playing it - both ahead and after the news.
The Labor Department said it was the largest fall in producer prices since a 1.5 percent dip in October 2006.
A relatively tame inflation number and no mean surprises in Lehman Brothers earnings this morning is giving support to stocks ahead of the Fed's momentous decision today. Traders are also watching oil prices crack yet another record level.
Consumer prices in Britain fell slightly in August, the government said Tuesday.
U.S. Treasury debt prices eased on Monday, as investors pared bets for a more aggressive interest rate cut from the Federal Reserve absent any further deterioration in the economy.
Fed policymakers meet Tuesday in one of the most closely watched central bank meetings in years. CNBC asked the experts what they expect the Fed to do and what impact it will have on the economy and markets.
I don’t have any real numbers from Hovnanian yet, but the spin abounds. The head of PR for the homebuilder’s Northeast region claims it was a huge success, thousands of people visited homes and one area at least sold out. Again, I have no real numbers, and Hovnanian says they’re not releasing any numbers until tomorrow earliest.
Alan Greenspan keeps making news, even after leaving the Federal Reserve chairman’s post. Last week, he released his memoirs, taking the Bush Administration to task; and he told CNBC the housing bubble was "unavoidable." Here is a sampling of our broadcast coverage, including an exclusive Greenspan interview with senior economics reporter Steve Liesman.
Ok well I guess the jury is in and the court finds in favor of Hovnanian Enterprises. The company issued a press release this afternoon saying they had gross sales of 2100 homes over the weekend: that's 1,700 contracts with 400 deposit.
Thousands of customers queued to withdraw savings from embattled British bank Northern Rock on Monday and its shares plunged again, heightening pressure for a sale of the business or its assets.
Former Federal Reserve Chairman Alan Greenspan also says the chances of a recession have risen from January, when he said there was about a 33% chance.
As the Dow and S&P 500 jumped 2% this week ahead of next week’s Fed meeting, is it possible the market already got the rate cut rally it has been jonesing for? Futures traders believe with certainly the Fed will cut the target rate at least 5%, but will it even matter for equities?
U.S. Treasury Secretary Henry Paulson said on Monday he expected market turbulence to continue for a while, but said the current turmoil was occurring against the backdrop of global financial strength.
U.S. Treasurys eased Friday after soft economic data supported expectations of a modest interest rate cut by the Fed next week but disappointed investors betting on an aggressive reduction.
Even if the Fed cuts interest rates on Tuesday, as most expect, stocks aren't likely to show much enthusiasm. The reason: credit market jitters probably won't subside soon, as Treasury Secretary Henry Paulson acknowledged to CNBC.