Japan's core annual inflation accelerated to a new decade-high in June on continued rises in energy costs, adding to the Bank of Japan's policy dilemma as it juggles the risks of inflation and slowing economic growth. 1st paragraph of story should go here
Stocks go into Friday facing important manufacturing and housing data and, of course, more turbulence.
South Korea's economy grew slightly more than expected in the second quarter on robust exports, data showed on Friday, which analysts said cleared the central bank to hike interest rates next month to curb inflation.
The dollar dropped against the yen Thursday, dragged down by disappointing news in the U.S. housing sector and steep losses on Wall Street.
The top U.S. securities regulator remains steadfast in a plan to broaden an emergency rule to curb abusive short selling despite opposition from the hedge fund industry and other short sellers.
The number of U.S. workers filing new claims for jobless benefits jumped 34,000 last week, overnment data on Thursday showed, reflecting seasonal volatility typical at this time of year.
Singapore's central bank on Thursday raised its 2008 consumer price inflation forecast to 6% - 7% from 5% - 6% and said it expected price pressures to remain elevated despite a slowdown this year in economic growth.
Japan's exports unexpectedly fell in June for the first time in nearly five years, trade data showed on Thursday, in a sign that U.S. economic troubles ensuing from a mortgage market debacle are dampening demand in China and other emerging economies.
Oil's move to a six-week low has been cheering the stock market, but the question is for how long?
The Fed's beige book (so called for the color of its cover) reported that economic activity slowed in June and July and that all 12 districts showed increasing price pressures.
The pace of U.S. economic activity slowed somewhat through mid-July and price pressures were elevated or increasing across the country, the Federal Reserve said.
The dollar hit a one-month peak against the yen and a two-week high against the euro Wednesday, getting support from a slide in oil prices and a recovery in risk appetite.
Core inflation in Australia accelerated to its fastest annual pace in 17 years last quarter as the cost of fuel, financing and rents all climbed, suggesting interest rates would have to stay high for some time to come.
Oil's trend lower has whipped up buying in stocks and could do the same Wednesday, if a string of major blue chips' earnings don't disappoint before the opening bell.
The dollar rallied sharply on Tuesday, boosted by a steep drop in oil prices and comments from a Federal Reserve official suggesting that U.S. interest rates may have to rise even before financial markets recover.
Oilman T. Boone Pickens says he's pushing his alternative energy proposal to Congress not because he wants to make money through his own businesses, but because he knows how to solve the nation's energy problem.
U.S. consumers are going to continue to feel pain until housing prices stabilize, even though global growth remains mostly strong, General Electric Chairman Jeff Immelt said.
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To fend off inflation, the Federal Reserve probably will need to boost interest rates "sooner rather than later" even if employment and financial conditions haven't revived, the president of the Federal Reserve Bank of Philadelphia said Tuesday.
Treasury Secretary Henry Paulson said America's housing market could turn a corner and begin recovering within months, but it will take longer to resolve all housing-related problems.