Japan's worst recession in decades continues to deepen. The world's second largest economy saw industrial production fall by 10% in January, the biggest monthly drop since records began more than half a century ago. Video.
Railway freight in China’s Shanghai region plunged 31% in January and industrial production fell 12%, dashing hopes that Beijing’s stimulus policies will soon begin to fuel recovery.
Ukraine’s credit rating was cut two levels by Standard & Poor’s to the lowest in Europe, a day after Latvia was downgraded to junk, as eastern Europe’s most debt- laden economies lurch closer to default.
The fact that Japan is now running trade deficits also means they will not be accumulating foreign exchange reserves, specifically buying Treasuries...
The wave of selling in European and American stock markets spread into Asia on Tuesday, sending key indexes in Japan and Singapore down more than 2 percent and toward the lows they hit in October.
"We are now seeing some of the concerns [about the economy] turning into reality, and we know there are unsolved issues ... that could delay a recovery for the global economy further," said So Jang-ho at Samsung Securities.
Shares of drybulk shipper Eagle Bulk Shipping Inc. sank Monday amid a lower broader market, after an analyst predicted more ships and cheaper charter rates will drag down the company's earnings.
Police are preparing for a "summer of rage" as victims of the economic downturn take to the streets to demonstrate against financial institutions, the Guardian has learned.
[choice quotes] "Our economies are so intertwined, the Chinese know that to start exporting again to their biggest market, namely the United States, ... we have to incur more debt."
Up to 120,000 protesters brought Dublin city centre to a standstill on Saturday over government austerity measures aimed at stabilising the once high-flying economy now wracked by recession.
The banking system of Europe is at the edge of the abyss. A brief story by The Telegraph revealed this last week. The original was almost immediately deleted. A new version was substituted. (IMPORTANT READING)
Soros said the turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union.
For the past two years, Asians and Europeans have tended to view their own financial and economic problems as largely imported from the United States. The impacts on their own economies, they reasoned smugly, would be modest and short-lived. Turns
The Chinese are doing everything and then some that I had hoped that they would do. This is more than I can say for the USA. They are taking this global economic interlude to shift purchasing power internally to maximize internal economic growth at a
Switzerland, like Iceland, is threatened with a potential national bankruptcy. One consequence would be that the Swiss currency could fall massively in value — possibly even crash.
The German cabinet approved a law letting it nationalize banks, setting aside a reluctance to seize private property in the latest government intervention worldwide to tackle the financial crisis.
It is clearly Ireland that is now in the eye of the storm as Dublin struggles to prevent the budget deficit spiralling up to 12pc or even 13pc of GDP as the economy contracts. Fears are mounting that Ireland may not be able to cover the massive liabi
Asian stocks dropped for a third day, driving Japan’s Topix index toward the lowest close in 25 years, as the deepening global recession hurts corporate earnings and demand for commodities.
“We’re nearing the level were things could get out of hand,” said Hans Redeker, currency chief strategist at BNP Paribas.
Folks, if this translates into Eastern Europe where there are severe instabilities already brewing literally everything in the financial world could come apart "all at once."
A meltdown possibility in US banks, UK banks, and Eurozone banks as the entire global banking system is insolvent. Conceivably a framework for a new transatlantic or even global currency could come out of such a meltdown.
"This is the worst ever crisis in the post-war era. There is no doubt about it," Economic and Fiscal Policy Minister Kaoru Yosano said, warning that a rebound is impossible before the global economy improves.
FEARS are mounting that Ireland could default on its soaring national debt pile, amid continuing worries about its troubled banking sector.
The unfolding debt drama in Russia, Ukraine, and the EU states of Eastern Europe has reached acute danger point.
Group of Seven finance chiefs vowed to tackle a “severe” economic downturn that will persist for most of 2009 without spelling out new steps to do so.
Many expatriates here talk about Dubai as though it were a con game all along. Lurid rumors spread quickly: the Palm Jumeira, an artificial island that is one of this city’s trademark developments, is said to be sinking...
The seething sense of unfairness is almost palpable. The view that a small elite not only caused the crisis, but continues to profit at the expense of everyone else, is near universal.
The global economic crisis has become the biggest near-term U.S. security concern, sowing instability in a quarter of the world's countries and threatening destructive trade wars. The director of national intelligence's annual threat assessme
While no country was mentioned, the obvious candidates are Ireland, Luxembourg, Belgium, the Netherlands, Austria, Sweden, and Britain -- and non-EU member Switizerland -- which all have oversized banking sectors...
In an extraordinary admission about the severity of the economic downturn, Ed Balls even predicted that its effects would still be felt 15 years from now. The Schools Secretary's comments carry added weight because he is a former chief economic a