The Japanese, who own $586.6 billion, or 12% of US government debt, had their worst quarter in Treasuries this decade, losing 7% in the first 3 months of the year as the dollar fell to the lowest since 1995 versus the yen. Foreign investors recoil fr
Families have been warned that the prices of basic foods will rise steeply again because of acute shortages in commodity markets. Experts said prices of rice, wheat and vegetable oil would rise further, with high prices and shortages here to stay,
Major retailers in New York, in areas of New England, and on the West Coast are limiting purchases of flour, rice, and cooking oil as demand outstrips supply. There are also reports that some consumers are hoarding grain stocks.
An unprecedented £50 billion injection to bail out Britain’s ailing banking system could be doubled if it fails to stave off a collapse in the housing market.
The global food crisis intensified on Tuesday as Kazakhstan, one of the world's biggest wheat exporters halted foreign sales and rice prices shot to a record high after Indonesia stopped its farmers from selling the grain abroad. In another si
To a people with memories of another crash, that of 1929, helping to propel the Nazis to power and Germany to ruin, the spectre of a replay of those dark times is grim indeed. Throughout the crisis, banks and politicians have sought to downplay the s
Haiti?s prime minister lost his job on April 12th, the result of more than a week of unrest as protesters rioted in reaction to rising food prices in the hemisphere?s poorest country. Several Haitians died, and one United Nations peacekeeper was kill
The financial crisis will affect market structure and pricing for at least a decade and lead to greater regulatory powers for central banks in areas at the centre of the turmoil, analysts at JP Morgan said.
If oil prices stay high because of falling production, then the recession will be much worse than I currently expect. And the impact on the World's poor will be severe.
In Ireland, Spain, Britain and elsewhere, housing markets that soared over the last decade are falling back to earth. Property analysts predict that some countries, like this one will face an even more wrenching adjustment....
The dire warnings from the International Monetary Fund the West now faces the largest financial shock since the Great Depression, while the Asian economies are still powering ahead, simply underlines our vulnerability in this new world order.
The European Union's top economy official has said that Europe deserved a greater say in the global economy as the strong euro gains ground as the world's second major currency.
Soros said global financial markets are in a period of rapid, massive deleveraging that will keep them volatile. "We are in a period of financial wealth destruction ... and now we have deleveraging,"
How much does it cost for a loaf of bread in Zimbabwe? With inflation raging at more than 100,000 percent, a loaf costs 50 million Zimbabwe dollars [actually Z$16 million per loaf]. [Our future after CONgress "fixes" our economy.]
Germany and other industrialized nations are desperately trying to brace themselves against the collapse of the global financial system. The crisis has taken its toll on the German economy, where the weak dollar is putting jobs in jeopardy
The European Central Bank said it would provide banks with 150 billion euros ($235 billion dollars) in additional liquidity, including its first ever six-month refinancing operations.
Washington has called on international financial institutions to steer clear of doing business wiht Iran's central bank, in the US's most wide-ranging attempt yet to isolate Tehran financially. (Wonder what would be said if China said the sa
As the US economy weakens, many Americans are being overwhelmed by personal debt, but Britons are even more profligate. For the last decade, consumers went on a debt-financed spending spree that made them the most indebted rich nation in the world, r
A looming recession in the US poses a vital question about recent changes in the global economic landscape: has the rest of the world broken its dependency on the US motor? To use one of the most familiar rhetorical questions in economics, when the U
"Its difficult to call where the bottom is," said Richard Hunter, a broker at Hargreaves Lansdown in London. Oil prices hit a record in Asian trading, U.S. stock index futures fell sharply and the dollar hit record lows.
Bullion for immediate delivery climbed to as much as $1,032.70 an ounce
March 14 (Bloomberg) -- U.K. government bonds rose after Bear Stearns Cos. got an emergency bailout from JPMorgan Chase & Co. and the Federal Reserve, stoking concern credit-market losses are spreading.
A very interesting and simple method of explaining things.
The European Commission fined Microsoft for a record $1.4 billion for anti-trust violations alleging the company ignored its regulatory decisions.
This ranked list of "current account balances" for the nations of the world speaks for itself. While countries like Bangladesh, Kuwait, and Zambia enjoy true prosperity, guess who is "number 1" when it comes to debt.....?
The nationalisation of troubled British bank Northern Rock, which was rocked by the global credit crunch six months ago, was approved by parliament. The government must now obtain an order which transfers the bank to public ownership, powers which we