Asian stocks fell to near five-month lows on Friday as investors dumped riskier assets after rising sovereign debt problems in the euro zone and poor jobs data sent U.S. and European stocks tumbling. The U.S. dollar climbed, having surged in the prev
Contagion is here. Portugal and Greece default risks are now racing who can hit 500 first... Then 1,000... Forget the bond vigilantes: the sovereign default vigilantes just called Almunia's bluff.
Audi, BMW, Mercedes and Ford all saw slumps ranging between 10 percent and 20 percent. Porsche got hit the hardest, with a 32 percent dip.
The STUPID index is merely a countdown to the inevitable sovereign debt implsion that so far has been postponed due to cash printers working on overdrive 24/7. The index is in CDS, so the chart will go up...
"The Swiss economy and the job market would suffer on a major scale if UBS fails as a result of its licence being revoked in the United States," she said.
Asian stocks extended their slump Monday as last year's rally showed more signs of petering out. Most markets pulled back as investors sold down a broad range of sectors, adding to sharp losses over the last couple weeks. The euro recovered modest
Switzerland's justice minister warned in an interview on Sunday that top bank UBS could collapse if sensitive talks with the United States over a high-profile tax fraud investigation fall through. "The actions of UBS in the United States are very
Japan’s housing starts fell to the lowest level since the nation celebrated its postwar recovery by hosting the Olympics in 1964, as builders were hobbled by dwindling household incomes and sustained deflation.
The European Union made clear on Thursday it would not abandon Greece and let Athens’ mounting debt crisis jeopardise the eurozone, even as Germany and France played down suggestions they had already formulated an emergency rescue plan. “It’s quit
Toyota Motor Corp shares dropped more than 8 percent on Wednesday in U.S. trading as concern deepened about the automaker's suspension of sales and production of some of its best-selling vehicles due to problems with faulty accelerators.
World poverty is falling. Between 1970 and 2006, the global poverty rate has been cut by nearly three quarters.
Even though the U.S. financial system nearly experienced a total meltdown in late 2008, the truth is that most Americans simply have no idea what is happening to the U.S. economy.
Jan. 18 (Bloomberg) -- U.S. Treasury Secretary Timothy F. Geithner, European Central Bank President Jean-Claude Trichet and their Group of Seven counterparts face few distractions when they meet in an Arctic outpost to rein in diverging policies on t
On display at the expo, where the sub-$3,000 "Made in India" Nano made waves exactly two years ago
While I very much share Mr. Evans-Pritchard’s view that the global economy is far from out of the woods, our views diverge in that he sees devastating deflation speeding our way down the tunnel. Casey Research readers of any duration know that we see
Asian stocks fell on Tuesday, a day after hitting a 17-month high, on investor jitters about tighter monetary policy in China, while the dollar rose after a Chinese sovereign fund official said the currency has bottomed.
"I want to be clear here that the blame, to the degree that there was, is largely in the United States, not in Europe, not in Britain," Schmidt said. "And it was fundamentally because a low-interest policy created too much money. It was an easy-money
Ken Schoolland is presently an Associate Professor of Economics and Political Science at Hawaii Pacific University. He is an economist, academic, author, and political commentator. Schoolland is also a Member of the Board of Directors for the Interna
China overtook Germany in 2009 to become the world's top exporting nation, marking China's rapid rise and growing economic influence, but China achieved the top ranking because its exports fell only 16%, while Germany's exports fell more steeply.
http://www.nytimes.com/2010/01/09/world/americas/09venez.html President Hugo Chávez announced a sharp devaluation of Venezuela’s currency on Friday night, a move that reflects the financial stress faced by his government since the price of oil, the
Mr Grimsson today refused to sign off on the bill after fierce political pressure from the country's opposition party and a petition against the Bill signed by nearly a quarter of the country's voters.
The Tokyo Stock Exchange will launch a new high-speed trading system Monday, scrapping an antiquated, glitch-prone platform for one that aims to compete with major global rivals.
[Governments are the same the world over.] Nearly a quarter of Icelandic voters have signed a petition asking their president to veto a bill on repaying $5 billion lost by British and Dutch savers when the island's banks collapsed, organizers said.
Asian stock markets were mixed in sluggish, year-end trade Wednesday, following a lackluster session on Wall Street as many investors held back after this year's global rally.
The Chinese renminbi is taking on an increased role in the Asia-Pacific region, and is expected over time to replace traditionally dominant currencies such as the US dollar and the euro for certain transactions.
It was a rough year for Ponzi schemes. In 2009, the recession unraveled 4 times as many of the investment scams as fell apart in 2008, with "Ponzi" becoming a buzzword again, thanks to the collapse of Bernard Madoff’s $50 billion plot. Tens of tho
MISH: Problems in China continue to mount. Money supply is growing rampantly out of control, property prices are in a bubble, exports are weak, commodity speculation is pervasive, and GDP growth is more of a mirage than real.
The Arab states of the Gulf region have agreed to launch a single currency modelled on the euro, hoping to blaze a trail towards a pan-Arab monetary union swelling to the ancient borders of the Ummayad Caliphate.
Abu Dhabi threw its flashy but debt-laden neighbor Dubai a $10 billion lifeline to head off a bond default, cheering Gulf and global markets on Monday but raising questions about the undisclosed terms.
A new report by VoxEU provides some detailed perspectives on just how bad the collapse in world trade has been as a result of last year's events. In a nutshell: the current Great Recession/Depression has plunged the world into an unprecedented colla