May 27- Lowering interest rates around the world to boost the global economy has reached a point where it is now "quite harmful" to clients, including pension funds and insurers, BlackRock Inc Chairman and Chief Executive Officer Laurence Fink said on Wednesday. The "low rate environment is having a profound impact on how they're going to operate," Fink said at the...» Read More
U.S. mortgage applications plunged last week, largely reflecting a drop in demand for home refinancing loans, an industry group said Wednesday.
US private-sector employers unexpectedly added 8,000 jobs in March, a report by a private employment service said, confounding economists' expectations of a fall.
According to the latest quarterly report from Halstead Property, the first quarter of 2008 saw property values continue their outlandish surge on the isle of Manhattan. The report touts "new records" in median sale prices and average apartment sale prices.
The full text of Federal Reserve Chairman Ben Bernanke's prepared testimony before the Joint Economic Committee of Congress on April 2, 2008:
The European Central Bank's first-ever auction of six-month funds on Wednesday saw banks bidding more than four times the 25 billion euros on offer as they sought cash they struggle to raise on financial markets.
British bank First Direct has withdrawn mortgages for new customers to clear a backlog after people flocked to its relatively cheap rates as other lenders raised rates due to the credit crunch.
The $19 billlion writedown at UBS has cheered some investors who think that the worst of the credit crunch is now over. But the European Central Bank still faces the prospect of falling growth and rising prices.
Investors hope the second quarter will be better than the first, when markets went on a rollercoaster of writedowns, trading scandals and record oil prices. Here are CNBC Europe's best videos of the first quarter.
Euro zone manufacturing activity cooled in March, but there was the biggest growth split among leading economies in seven years, while price pressures spiralled higher, a survey showed on Tuesday.
Australia's central bank was still concerned that interest rates might not be high enough to restrain inflation when it hiked rates to a 12-year high earlier this month, minutes of the policy meeting showed on Tuesday.
I realize today all the headlines are about the Paulson plan to re-regulate the nation’s financial systems in order to prevent the current credit crisis brought on by the recent housing boom. But that’s all about the future.
The full text of a speech on the "Blueprint for Regulatory Reform" given by Treasury Secretary Henry Paulson on March 31, 2008:
Euro zone inflation jumped to new record highs in March while economic sentiment eased for the 10th month in a row, data showed on Monday, deepening the European Central Bank's interest rate dilemma.
A look at the data and happenings that shaped the first quarter for European businesses and markets.
After a dismal first quarter, investors look forward to what the spring has in store; but apart from a new gold rush and the euro rising further, there seems to be little to anticipate.
Stocks closed lower Friday after a profit warning from J.C. Penney, which renewed fears about slower consumer spending. Financials and techs caved in after earlier attempts to rally.
Stocks advanced Friday, boosted by benign inflation data and an upgrade on Lehman Brothers.
Stocks rose at the opening bell as the market weighed benign inflation data with a weak outlook from J.C. Penney.
Euro zone price pressures are "alarmingly high," threatening medium-term price stability, and first quarter growth in the bloc could exceed expectations, European Central Bank officials said on Friday.
There are signs of improvement in U.S. housing markets but the idea of freezing mortgage rates for a period of time would be a mistake, the director of the Office of Federal Housing Enterprise Oversight said on Friday.