The OPEC oil cartel and allied producing countries have confirmed plans to restore 2.1 million barrels per day of crude production.
From the United States to Asia to Europe, a global economy that many had feared was faltering appears poised for a resurgence on the strength of cheap oil and falling interest rates.
President Barack Obama is de-emphasizing phrases that draw attention to economic disparity and is focusing instead on a message about fostering upward mobility
WASHINGTON — A U.S. debt default in the event that a politically divided Congress fails to raise the federal borrowing limit would imperil the entire global economic recovery, a senior International Monetary Fund official warned Wednesday. But Jose Vinals, the IMF’s financial counselor, said he sees the actual risk of such a default as very […]
CERNOBBIO, Italy — Business leaders and finance experts gathered in Italy offered a downbeat assessment of the global economy Friday — with several predicting another recession due to a calamitous cocktail of sluggish growth, eurozone dysfunction, and financial market volatility. The year’s events — from natural disasters and violent uprisings to fears of debt defaults […]
NEW YORK — Gold reached new heights Friday, soaring as high as $1,881 an ounce, as investors anxious about the uncertain global economy snapped up the precious metal. Stock markets in Europe and Asia continued a slide that began Thursday on disappointing economic news and worries about the strength of European banks. U.S. stock futures […]
NEW YORK — More evidence of a slowing global economy sent stocks falling Tuesday and threatened to end the market’s three-day rally. Germany’s economy stalled last quarter and dragged down growth for Europe. In the U.S., reports painted a mixed economic picture: Housing remains weak, but factory output rose last month at its fastest pace […]
NEW YORK — Stocks plunged again Wednesday as investors turned their attention back to the weak global economy and Europe’s debt problems. Most of the big gains that followed a Federal Reserve pledge to extend super-low interest rates vanished. The Dow Jones industrial average fell 345 points, or 3 percent, to 10,895 in early afternoon […]
VIENNA — OPEC unexpectedly left its production levels unchanged on Wednesday, causing oil prices to jump, as senior officials said their meeting ended in disarray — a stunning admission for an organization that places a premium on consensus decision making. OPEC officials said that because of a policy deadlock, the group will maintain present output […]