March non-farm payrolls seen up 244,000. BRUSSELS, March 29- The state of the U.S. labor market in March will consume economists and investors in the week leading up to Easter, adding to the seesaw debate over when the Federal Reserve will spring its first interest rate hike. Fed Chair Janet Yellen made it clear on Friday that the U.S. central bank is likely to start...» Read More
You just can’t make this stuff up. Apparently even a big builder’s daughter can’t seem to keep faith in the Florida housing market. According to an SEC filing, Wendy Topkis, daughter of Toll Brothers co-founder and Vice-Chairman Bruce Toll, is walking away from a Florida condo, just like everyone else. A Toll Bros. condo!! The Palm Beach Post says it best: Et Tu Wendy?
Australia's central bank bluntly warned on Monday that it would likely need to raise interest rates again to restrain inflation, even as it trimmed its outlook for economic growth.
One year ago today, HSBC announced its first writedown relating to subprime mortgages. So one year later, you have to ask, where are we in the process of saving subprime borrowers? Answer: damned if I know!
From the deadline for the Northern Rock bids to the rate decisions by the European Central Bank and the Bank of England, here are the events that have shaped this week:
In remarks to an audience in Honolulu, Yellen said that an extended spell of slow growth as the most likely outcome, but she later told reporters that a recession was within the range of normal forecasting error.
Japan's core machinery orders fell more than expected in December, suggesting that corporate activity is feeling the pinch from slowing U.S. growth. But manufacturers still forecast that core orders, regarded as a leading indicator of capital spending, would rise in January-March from the previous quarter.
Has the Fed's monetary policy sown the seeds for an enormous recession? Find out from strategic investor, Bill Fleckenstein.
U.S. stocks snapped a three-day losing streak Thursday, led by strong gains in the financial and retail sectors.
U.S. stocks turned firmly higher Thursday afternoon as bargain hunters scooped up undervalued stocks following three straight down days. Bank and retail stocks advanced. Even battered tech Cisco recovered.
European stocks fell sharply lower Thursday to close at their lowest level in two weeks after the European Central Bank held interest rates at 4.0 percent and the Bank of England cut by another quarter point to 5.25 percent.
U.S. stocks wavered Thursday as reports on January retail sales and jobless claims stirred recessionary fears. Tech stocks were under pressure after Cisco said consumers have become increasingly cautious. Retailers jumped.
The European Central Bank kept its main rate on hold at 4 percent as expected on Thursday, despite mounting pressure for an easing in monetary policy to help avert a global recession.
The U.S. economy showed further signs of slowing, particularly with Thursday's report that the jobless ranks continued to swell last week
U.S. stocks wavered Thursday as reports on January retail sales and jobless claims stirred recessionary fears. Tech stocks were under pressure after Cisco said consumers have become increasingly cautious both in the U.S. and Europe.
Jobless claims fell by 22,000 last week, but the number of workers remaining on jobless aid rose to its highest in more than two years.
The ECB decided to hold its main rate at 4% today, while the US Federal Reserve and the Bank of England have been cutting rates. See how the rates compare for the past 10 years...
The Bank of England cut its main interest rate by a quarter point to 5.25 percent on Thursday, as widely expected, amid worries about a slowdown in the economy.
In a Toronto appearance late this afternoon, Warren Buffett said interest rate cuts by central bankers have made money more available and even inexpensive. Buffett also repeated his concerns about the U.S. dollar due to the nation's high current account deficit and echoed his long-term optimism about the health of the U.S. economy.
The Bank of England is widely expected to cut interest rates by 25 basis points Thursday, for the second time in three months, in a delicate balancing act between offsetting the impacts of a slowing economy and fending off inflation.
The Fed must remain vigilant against rising inflation pressure this year even as the U.S. economy slows sharply, Philadelphia Fed President Charles Plosser said.