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OPEC to increase oil output as global economy recovers
The OPEC oil cartel and allied producing countries have confirmed plans to restore 2.1 million barrels per day of crude production.
AP survey: Outlook for global economy has brightened
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.
Obama focus on ‘opportunity,’ less on ‘inequality’
President Barack Obama is de-emphasizing phrases that draw attention to economic disparity and is focusing instead on a message about fostering upward mobility
IMF: U.S. debt default would shake global economy
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 […]
Experts downbeat on global economy
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 […]
Gold hits a new high as investors seek safety
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 […]
U.S. stocks fall on global economic worries
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 […]
Stocks plunge as attention returns to weak economy
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 […]
OPEC’s divisiveness causes prices to spike
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 […]
