Europe’s weakened economy is now the central threat to global recovery, as its countries struggle with heavy debt, banks face a reckoning over their lack of capital and growth is slowing, the International Monetary Fund said Wednesday in its first assessment of the world economy since a crisis over government borrowing in Greece.
While the agency [...]
Archive for the ‘Economic Turmoil’ Category
Europe presents main threat to global recovery, IMF says
July 8th, 2010 by Financial Writer
Tags: bank of england, economic growth, european central bank, european economy, financial crisis, global financial markets, global recovery, IMF, interest rates, world economic
more...Asian stocks down on worries over Europe
July 5th, 2010 by Financial Writer
Asian stock markets lost ground for a third straight day Thursday over new concerns about Europe’s economic outlook after Moody’s Investors Service warned it may downgrade Spain’s debt rating.
Oil prices fell below $75 a barrel in Asia, as wilting stock markets dragged down the confidence of crude investors. The yen weakened against the dollar, while [...]
Tags: central bank, Dow Jones Industrial, european economy, financial crisis, financial system, global investors, loans, money, stock markets, us economic, wall street
Stocks jittery after jobs report
July 2nd, 2010 by Financial Writer
Stocks slipped Friday as investors eyed the weaker-than-expected June jobs report, and were cautious ahead of the long holiday weekend.
The Dow Jones industrial average (INDU) lost 36 points, or 0.4%, the Nasdaq (COMP) composite fell 8 points or 0.4% and the S&P 500 (SPX) index dipped 3 points, or 0.3%. On Thursday, the Dow and [...]
Tags: debt crisis, Dow Jones Industrial, economic, economists, european economy, investor market, Nasdaq composite, stock market, unemployment rate, us economic, us economy
Treasury Sale of Citigroup Shares Slowed Amid June Market Slump
July 1st, 2010 by Financial Writer
The U.S. government’s sale of Citigroup Inc. shares slowed last month as the bank’s share price tumbled 5.1 percent amid a stock-market slump.
The government sold 1.1 billion shares from May 27 through June 30, according to a Treasury statement today. The sales, which are being managed by Morgan Stanley, generated proceeds of about $4.3 billion [...]
Tags: banks, citigroup, economists, financial system, investment, money, stock market, us economic, us stocks, us tax
Stocks struggle to rise
June 30th, 2010 by Financial Writer
Stocks struggled to gain Wednesday after a weaker-than-expected jobs report killed some momentum toward a market rebound.
The Dow Jones industrial average (INDU) was up slightly, while the S&P 500 (SPX) gained 0.4% and the Nasdaq (COMP) was up about 0.7%.
The ADP report showed less of a job-market gain than economists had hoped, which dented stocks [...]
Tags: businesses, Dow Jones Industrial, economic recovery, economists, global economic, Nasdaq composite, stocks, world markets
Bank stocks get hammered
June 29th, 2010 by Financial Writer
Bank stocks tumbled Tuesday on the heels of negative global economic data and concern that a financial reform bill won’t pass in the Senate.
Morgan Stanley (MS, Fortune 500), Bank of America (BAC, Fortune 500) and JPMorgan (JPM, Fortune 500) all closed about 4% lower.
Those stocks slid amid renewed concern that the Wall Street reform bill [...]
Tags: bank of america, bank stock, economic, financial, financial system, Global Economy, loans, money, us economy
U.S. Stocks Fluctuate on G-20 Deficit Pledge, Consumer Spending
June 28th, 2010 by Financial Writer
U.S. stocks swung between gains and losses as a bigger-than-forecast rise in consumer spending and a pledge by Group of 20 leaders to cut deficits offset smaller- than-estimated growth in personal incomes.
Transocean Ltd., the company that leased the Deepwater Horizon drilling rig in the Gulf of Mexico to BP Plc, advanced after the British oil [...]
Tags: commerce department, consumer spending, debt crisis, Dow Jones Industrial, economic recovery, european economy, financial leaders, Global Economy, us stocks
U.S. Growth Is Revised Downward, to 2.7%
June 27th, 2010 by Financial Writer
The government lowered its estimate of how much the economy grew in the first quarter of 2010, noting that consumers spent less than it previously thought.
The country’s gross domestic product rose by an annual rate of 2.7 percent for January through March, the Commerce Department said on Friday. That was less than the 3 percent [...]
Tags: businesses, commerce department, debt crisis, economists, economy grew, european economy, financial system, recessions, us consumer
U.S. economic growth revised lower to 2.7% for first quarter
June 25th, 2010 by Financial Writer
The U.S. economy grew at a 2.7% pace in the first quarter, the Commerce Department said Friday, an annualized rate that came in lower than what government forecasters had previously projected.
Economists have never been too impressed with the composition of growth in gross domestic product in the first quarter. More than half of the GDP [...]
Tags: business investment, commerce department, consumers, economic growth, economists, economy recovery, financial, us economic, us economy
European surveys fuel growth slowdown fears
June 23rd, 2010 by Financial Writer
The durability of Europe’s recovery looked more doubtful on Wednesday after key business surveys showed dimming confidence about the prospects of economies that are pressing ahead with austerity measures.
Euro zone purchasing managers indexes showed private sector firms expanded at a slightly slower pace in June, but beneath the headline figures there was feeble demand for [...]
Tags: businesses, consumers, economists, european economy, financial crisis, financial markets, us treasury, wall street
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