Friday's jobs report contained unambiguous good news, but a debt limit battle in Washington looms.» Read More
Dick Bove calls on capitalists to broaden the fiscal cliff talks into fundamentals.
The White House says President Obama is willing to let the country go over the "fiscal cliff" if Republicans don't concede on a tax hike for the wealthy.
In a rare display of bipartisanship, House Democratic Whip Steny Hoyer defended House Speaker John Boehner, saying the Ohio Republican "legitimately wants to reach an agreement" on the "Fiscal Cliff."
President Obama says a deal on the "fiscal cliff" could be reached in a week if Republicans accepted the idea of higher tax rates on the wealthy.
The U.S. economy could slingshot higher if the politicians reach a compromise on the country's fiscal problems, Greg Fleming, Morgan Stanley Wealth Management president, said.
The pace of growth in the U.S. services sector increased slightly in November while U.S. factory orders expectantly rose in October.
Nonfarm productivity increased at a much faster clip than initially thought as businesses held the line on hiring even as output surged, with unit labor costs falling at their fastest pace in almost a year.
The private sector created 118,000 jobs in November, primarily thanks to service-related jobs, a number that missed expectations ahead of Friday's closely watched government report.
The British economy has performed less strongly than expected and a crisis in the euro zone will constrain growth for several years, finance minister George Osborne said in a budget update to parliament on Wednesday.
Chinese stocks, which have had a forgettable year so far, climbed 3 percent on Wednesday, after the country's new leadership promised further reforms. But is the rally that has fizzled out many times in the past here to stay?
The United States may have the world's largest economy, but it does not even crack the top ten percent when it comes to a perceived lack of corruption, according to Transparency International.
President Obama says that while tax rates must go up for a "fiscal cliff" deal, it may be possible to lower rates at the top end of the scale late next year as part of tax reforms.
"What some people are calling a 'bungee jump' could cause an economic heart attack," says BofA economist Ethan Harris.
Bank of America CEO Brian Moynihan said "fiscal cliff" uncertainty has already hurt 2013 business spending and said the failure to reach a resolution presents not only a near-term recession risk, but also the possibility of longer negative effects.
Governments and economists from elsewhere in the developed world are looking East for a clue to the long-term consequences of loose monetary policy.
Spain's number of jobless rose by 1.5 percent in November from a month earlier, or by 74,296 people, leaving 4.9 million people out of work.
Detroit's fiscal clock is ticking down again as the city faces running out of money by the end of the year unless a political squabble between the mayor and city council can be resolved.
In line with expectations, the Reserve Bank of Australia (RBA) delivered a 25 basis point rate cut on Tuesday, taking the benchmark interest rate to 3 percent - its lowest level since 2009. However, analysts remain divided on whether the central bank will push rates even lower next year.
Greece's economy is in recession but there are reasons to be upbeat and the debt-laden nation will be able to rebound strongly as it works its way through reforms, European Central Bank governing council member Christian Noyer told CNBC.
Republicans proposed steep spending cuts on Monday but gave no ground on President Barack Obama's call to raise taxes on the wealthiest in their first formal proposal to avert a "fiscal cliff" that could push the U.S. economy into recession.