European planemaker Airbus is starting to feel the pain of the high price of oil and is bracing for airline customers to delay and even cancel orders, its chief salesman said on Wednesday.
The dollar rose broadly Tuesday after oil prices fell and a report showed an unexpected rise in U.S. new home sales in April, boosting expectations the economic slowdown is not as bad as feared.
There are several signs that the financial crisis that has long plagued the market is winding down, according to one expert.
The chief executive of Europe's biggest lender on Tuesday called on central bankers to raise interest rates in order to combat inflation.
The government will ban people in foreign-registered vehicles from buying gasoline in border areas of Malaysia, where heavy subsidies have kept petroleum costs low despite soaring prices internationally.
Monetary policy should aim to help China recover from this month's devastating earthquake but it must also continue to fight inflation, central bank chief Zhou Xiaochuan said.
Former Federal Reserve chairman Alan Greenspan was quoted on Tuesday as saying the United States was still more likely than not to have a recession despite relative stabilization in the economy in recent weeks.
"This is going to be another difficult spring," said Mark Zandi of Moody's Economy.com. "I think we are at the beginning of the end of the housing downturn, but it is going to be a long and painful end."
European Central Bank head Jean-Claude Trichet said on Monday that financial markets were experiencing an "ongoing correction" and repeated that the G7 was concerned about excessive dollar volatility.
China's consumer inflation is expected to reach 7% in 2008, up from 4.8% last year, a government economist said in comments published on Monday
The dollar held its ground on Monday, taking advantage of the ultra-thin volumes owing to U.S. and UK market holidays to arrest its decline of the last three weeks and eke out slender gains against a basket of major currencies.
Blame for the sub-prime crisis lies at the feet of banks who took too many risks in mortgage lending, Warren Buffett told a Madrid newspaper. Earlier, the billionaire investor said he expected a "long, deep" recession.
The dollar fell on Friday and was set for its steepest weekly slide against a basket of major currencies in two months, as record high oil prices left the U.S. economy vulnerable to slower growth and rising inflation.
Kimberly-Clark, marker of Kleenex tissues, Huggies diapers and a host of other consumer products, said Friday it would raise prices by 6 percent to 8 percent in the third quarter to offset higher raw material and energy costs.
Traders are hoping for a quiet end to the week, ahead of Monday's Memorial Day holiday. They say, though, a lot will depend on what happens with April's existing home sales data, released at 10 a.m., and the price of oil.
U.S. Treasury Secretary Henry Paulson told CNBC Thursday that rising oil prices are not driven by market speculation but instead reflect tight supplies and growing global demand.
Wall Street appears resigned to the idea that the Federal Reserve is done cutting interest rates, but a patchy economy could force policy-makers to keep their scissors handy.
The dollar rose Thursday, boosted by better-then-expected jobless claims data, but support remained fragile as record high oil prices stoked worries about the health of the U.S. economy.
High food prices will continue for at least a decade even if they drop from the levels that sparked street protests or riots in Africa, Asia and the Caribbean in recent months, government-backed international agencies say.
Americans are fooling themselves if they think U.S. inflation is under control, the manager of the world's largest bond fund said