Paulson says global economy strong: report
August 21 2007 11:27 AM EDT
Treasury Secretary Henry Paulson said on Tuesday the global economy is strong and liquidity will return to normal in financial markets once investors reprice risk.
July foreclosures up 93 percent vs year ago: survey
August 21 2007 11:07 AM EDT
Home foreclosures rose 9 percent in July from June and soared 93 percent from a year ago as states that once enjoyed a white-hot housing market are now seeing the greatest number of loan failures, a real estate survey reported on Tuesday.
Fierce Hurricane Dean batters Mexican resorts
August 21 2007 11:01 AM EDT
Hurricane Dean slammed into Mexico's Caribbean coast on Tuesday, flooding streets, blowing the roofs off houses and battering resorts where tens of thousands of tourists and residents huddled in shelters.
China raises interest rates for fourth time this year
August 21 2007 8:17 AM EDT
The cut is meant to stabilize inflation after consumer prices rose in July at the fastest pace in more than a decade.
Big three pledge vigilance but banks gloomy
August 21 2007 7:51 AM EDT
Finance chiefs from the world's three biggest economies sought on Tuesday to keep a lid on global market jitters as banks at the sharp end of a global financial storm said they faced serious trouble. Japanese Finance Minister Koji Omi and U.S. Treasury Secretary Henry Paulson agreed to keep a close eye on markets while German Finance Minister Peer Steinbrueck said there was no sign of the turmoil hitting the wider economy.
Nuclear deal strains India's government
August 20 2007 12:34 PM EDT
Indian Prime Minister Manmohan Singh's government is struggling to weather a crisis as communist allies threaten to end support over a nuclear energy deal with the United States.
Zimbabwe parliament to mull nationalization plans
August 20 2007 10:49 AM EDT
Zimbabwe's parliament meets for a new session on Tuesday that will consider two major pieces of legislation, one to give the president considerable sway in appointing a successor and another to nationalize foreign firms.
India faces unbearable oil bill, nuclear a must: PM
August 20 2007 10:45 AM EDT
India is committed to developing its nuclear energy capability and other sources of power as its oil bill will impose an unbearable burden as growth continues, the prime minister said on Monday.
France's Sarkozy returns to face economic woes
August 20 2007 10:40 AM EDT
French President Nicolas Sarkozy returned from his summer break on Monday to a sluggish economy, a court decision to scrap a tax break he promised and a scandal over a pedophile who says a prison doctor gave him Viagra.
Want the next big energy source? Dig in the weeds
August 20 2007 10:12 AM EDT
Plants that can be grown for fuel are often touted as a vast, clean energy source -- except by those who say precious food is being diverted into gas tanks, and that biofuel crops are using up dwindling land and water.
Africa wages war on scourge of plastic bags
August 20 2007 10:06 AM EDT
They've become as much a symbol of Africa's landscape as the stereotypical lions and plains
Fears abate but still linger post-Fed
August 20 2007 9:32 AM EDT
Policymakers and investors breathed a sigh of relief on Monday as Federal Reserve action brought calm to shaken financial markets, but experts said it was too soon to discount a global credit crisis.
Asia Inc girds for fallout of credit squeeze
August 20 2007 9:09 AM EDT
Asian companies will have a tough time raising funds and face weaker export demand if the global credit squeeze persists and a deteriorating U.S. housing market crimps consumer spending.
After policy U-turn, another Fed step anticipated
August 17 2007 10:39 PM EDT
Just 10 days after reiterating that inflation was its main concern, the U.S. Federal Reserve's policy-setting panel made a 180-degree turn on Friday, laying the groundwork for an interest rate cut as early as next month.
Dartmouth Top Business School in U.S.
August 17 2007 9:32 PM EDT
Darthmouth tops a list of 50 schools, but can you find better value elsewhere?
Wealthy Not Affected by Market Woes
August 17 2007 9:30 PM EDT
The stock market is swinging but there are no signs the rich are buckling their Pradas.
August consumer sentiment declines sharply
August 17 2007 6:28 PM EDT
U.S. consumer sentiment deteriorated in August to its weakest in a year as more expensive oil, declining home prices and turmoil in financial markets all hurt confidence.
Luxury goods: Wealthy still not asking the price
August 17 2007 6:17 PM EDT
The stock market is swinging like a pendulum and the credit market is getting tighter than a drum but there are no signs the rich are buckling their Pradas to hold onto their bucks.
Fed's discount rate cut drives indexes higher
August 17 2007 4:08 PM EDT
U.S. stocks rose on Friday after the Federal Reserve cut the discount rate at which it lends to banks in a surprise move to keep worsening credit conditions from hurting the economy.
Fed shifts view on volatile market, lowers discount rate
August 17 2007 3:55 PM EDT
The U.S. Federal Reserve sought to bring order to volatile financial markets experiencing tighter credit conditions on Friday by lowering the rate at which it makes short-term loans to commercial banks and other institutions.