Sierra Leone president Ernest Bai Koroma declared a state of emergency due to the largest Ebola outbreak in history. NBC News reports.» Read More
While markets are hyper-focused on the Friday speech at Jackson Hole by Fed Chairman Ben Bernanke, they are overlooking what could be an equally important Saturday appearance by IMF Managing Director Christine Lagarde.
This year, many states are receiving their first bit of good economic news since the beginning of the recession. More than half of them will take in more revenue than they expected, and a handful are reporting surpluses, according to one study. Several other reports point to the same trend: states' 2011 budgets heading in the right direction as tax collections increase.
We know that Bernanke & Co. have been actively trying to downplay any talk of QE3 and today's WaPo article "Ben Bernanke unlikely to announce big new plans at Jackson Hole is a fine example of this "leaking" process.
French President Nicolas Sarkozy is due to meet with Prime Minister Francois Fillon, Finance Minister Francois Baroin and Budget Minister Valerie Pecresse on Wednesday morning to decide where to slash the national budget.
Post-Gaddafi Libya could begin pumping oil in the next few months, as rebels secured oil infrastructure around Tripoli and edged closer to taking complete control of the country. However, oil markets are shifting their attention to concerns that the US might undertake further fiscal stimulus.
"In terms of global competitiveness what you see is the US has gained leaps and bounds versus Europe. Now, clearly emerging markets are still very competitive on an absolute cost and wage basis, they are still the leaders. However, once you add logistic costs and other associated costs the US is still very competitive at this point," Virginie Maisonneuve, head of multi-regional equities at Schroders. "You are seeing companies like Volkswagen going into places like Tennessee and getting cost on an hourly basis of $17 to $18 an hour, remember the likes of GM were firing at a cost of around $90 an hour so very much competitive."
"The question about interest rates and cheap money is probably more important to the oil market and the commodities sector than what is happening in Libya right now," Johannes Benigni, managing director at research firm JBC Energy, told CNBC.
"As far as I can see, this deal is specifically aimed at providing support for companies that have suffered through the strength of the yen. That seems a far more sensible thing to do then actually try and take on the strength of the yen itself," Simon Derrick, chief currency strategist at BNY Mellon, told CNBC.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
Simon Maughan, head of sales & distribution at MF Global joined CNBC to discuss the German economic figures and market reaction. He added the expected the European Central Bank would be forced into some form of quantitative easing to support the Euro.
The notion that China is going to replace the United States as sole superpower is possibly the greatest myth of our time.
Super big combined with super unstable and super repressed is not a formula for a superpower—at least not a durable one. Super institutions and super free is. The leading superpower title is America’s to lose.
Oil companies are understood to be preparing to move back into the North African country, which used to pump 1.6 million barrels per day before the uprising against Muammar Gaddafi's government began six months ago.
Weighing in on the traits of the best GOP candidate to run against President Obama in 2012, with former governor Jon Huntsman, (R-UT), who adds that the nation is losing sight of some Republicans who want to get the economic house in order.
Muammar Gaddafi's son rallies loyalists to battle back in Tripoli, reports CNBC's Yousef Gamal El-Din.
CNBC's John Harwood has the details on the front-runners in the race for a GOP presidential candidate in the 2012 election.
On July 21, EU leaders agreed to a second bailout for Greece, one that was supposed to draw a line under the euro zone debt crisis and give the new government in Athens a chance come to grips with the huge debts it inherited when it was elected. One month later, and the situation appears to be getting worse rather than better, according to Simon Derrick, the head of currency research at Bank of New York Mellon.
The fact that Deven Shama, the president of Standard & Poor’s, has stood down from his job just a couple of days after the agency downgraded the United States' credit rating has raised questions over whether he is being made into a scapegoat to deflect political pressure on the credit ratings agency.
"I think longer-term we're still in a stable range, or even a decline on economic trends, with potentially slowing economic growth in the United States, a lack of direction in fiscal policy, and the issues in Europe that are still unresolved," Michael Cuggino, president of Permanent Portfolio Funds, told CNBC.
"You would think by now people would realise there is no quick fix to get us out of this crisis. It is going to be a long-haul, and what we really need to get is some reforms to the economy. Confidence comes from seeing government policy be what you want it to be," Matthew Bishop, U.S. business editor at The Economist, told CNBC.