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July 24, 2008 1:34:20 PM CDT

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Stories related to: weak dollar

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Stories 1 - 20 of 27

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  • July 2008

    • Weak Dollar Scaring Off Foreign Funds

      newser  |  Financial Times (UK)  |  Jul 17, 08 4:18 PM CDT

      Weak Dollar Scaring Off Foreign Funds

      With the dollar declining and US economic outlook uncertain, some large sovereign wealth funds are looking to cut down on greenbacks, the Financial Times reports. One such Persian Gulf fund has cut its dollar-denominated investments from 80% to 60%, and China’s State Administration of Foreign Exchange is aggressively exploring European investments—a sign they don't trust US policy-makers to defend their currency. More »

      Tags

      China  • inflation  • weak dollar  • Abu Dhabi  • investment  • sovereign wealth funds  • Abu Dhabi Investment Authority

    • World Markets Tumble, Dollar Hits New Low

      newser  |  Bloomberg  |  Jul 15, 08 7:32 AM CDT

      World Markets Tumble, Dollar Hits New Low

      World stocks hit their lowest level since 2006 today as credit-market losses and weakening consumer confidence sent shares falling, reports Bloomberg. The big banks, from UBS in Europe to Cathay in Asia, led declines. The MSCI World Index, Morgan Stanley's indicator of global finance, has now slid into bear market territory, having lost 21% of its value since October. More »

      Tags

      US dollar  • euro  • Asian markets  • weak dollar  • financial markets  • yen  • European markets  • pound

    • Consumers Are Quickly Trading Down

      newser  |  Wall Street Journal  |  Jul 11, 08 12:26 PM CDT

      Consumers Are Quickly Trading Down

      As fuel prices and home foreclosures steadily rise, Americans are trading down in everything from automobiles to their lunch options. That's not unusual in an economic downturn, but the speed with which it's happening is, the Wall Street Journal reports. And the flight to the affordable and generic is affecting the broadest array of goods since the recession of the early 1980s. More »

      Tags

      gas prices  • subprime crisis  • Wal-Mart  • weak dollar  • consumer prices  • weakening economy  • retail stores  • consumer goods  • discounts

    • Weak Dollar Sends Vatican to $14.5M Loss

      newser  |  Guardian (UK)  |  Jul 11, 08 8:19 AM CDT

      Weak Dollar Sends Vatican to $14.5M Loss

      The weak dollar has wreaked havoc on business across Europe, but one organization has posted a surprising loss: the Vatican. The Catholic Church blamed the declining greenback for its first loss in 4 years as it ended the year $14.5 million in the red. The Guardian reports on how the decline of the almighty dollar is hurting the house of the Almighty. More »

      Tags

      Catholic Church  • Vatican  • charity  • euro  • weak dollar  • Rome  • sin

    • Oil Gushes Past $145

      newser  |  Associated Press  |  Jul 3, 08 7:07 AM CDT

      Oil Gushes Past $145

      The specter of conflict in Iran and a surprisingly large decline in US stockpiles pushed European oil prices above $145 today for the first time, reports the AP . A further weakening of the dollar, if the European Central Bank raises interest rates as expected later today, could push prices even higher. Crude has risen more than 50% since the end of 2007. More »

      Tags

      Iran  • oil price  • interest rate  • weak dollar  • oil supply

  • May 2008

    • FedEx Chief: Exports Will Stave Off Recession

      newser  |  Financial Times (UK)  |  May 19, 08 10:25 AM CDT

      FedEx Chief: Exports Will Stave Off Recession

      Strength in high-tech US manufacturing and the globalization of the market has helped the US avoid a recession, with its exports being driven by a weak dollar, FedEx CEO Fred Smith told the Financial Times today. And, he said, as emerging economies continue to grow, so will US exports, even if the dollar rebounds. More »

      Tags

      recession  • weak dollar  • US exports  • FedEx

    • Dollar Hits 6-Week High Against Euro

      newser  |  Financial Times (UK)  |  May 8, 08 6:12 AM CDT

      Dollar Hits 6-Week High Against Euro

      The dollar hit a six-week high against the euro yesterday, leading relieved policymakers on both sides of the Atlantic to hope that the worst is over, reports the Financial Times . Analysts still reckon that Washington will continue its policy of benign neglect: a soft dollar encourages exports and reduces the trade deficit. But one key reason US and European officials are teaming up to help the dollar: a weak American currency has reinforced spiking oil prices. More »

      Tags

      US dollar  • euro  • weak dollar  • currency exchange  • central bank

    • French PM Lobbies US on Weak Economy

      newser  |  Associated Press  |  May 2, 08 8:07 AM CDT

      French PM Lobbies US on Weak Economy

      While Nicolas Sarkozy struggles with the sputtering French economy at home, his prime minister has traveled to Washington to spur international action. François Fillon will meet with Ben Bernanke and Hank Paulson today, where he is expected to press the US on the subprime crisis, the weak dollar, and the need for an appreciation of the Chinese yuan, reports the AP. More »

      Tags

      France  • Nicolas Sarkozy  • weak dollar  • yuan  • Francois Fillon

  • April 2008

    • Amazon Q1 Profit Spikes

      newser  |  Wall Street Journal  |  Apr 23, 08 5:35 PM CDT

      Amazon Q1 Profit Spikes

      Amazon posted a 30% profit jump in the first quarter, the Wall Street Journal reports, defying the sluggish economy. Net income was $143 million (34 cents a share) compared with $111 million (26 cents a share) in last year's first quarter. The company’s operating income guidance for the fiscal year fell, however—pushing shares sharply downward after hours. More »

      Tags

      Amazon.com  • weak dollar  • quarterly profits  • Jeff Bezos

    • Oil Tops Record High $113

      newser  |  AFP  |  Apr 15, 08 6:44 AM CDT

      Oil Tops Record High $113

      Crude oil hit a new record high in trading today—$113.66 a barrel—as weary investors attempted to hedge against a tumbling dollar and oil shipments were disrupted around the world. Though the dollar is the main concern, supply problems, including OPEC's decision not to change its 2008 outlook and the closure of a top Mexican export terminal, didn't help, the AFP reports. More »

      Tags

      oil price  • US dollar  • crude oil  • weak dollar  • Wachovia  • $100 a barrel oil

    • G-7 Ministers Talk Tough on Sliding Dollar

      newser  |  Wall Street Journal  |  Apr 12, 08 7:26 AM CDT

      G-7 Ministers Talk Tough on Sliding Dollar

      The Group of Seven's finance ministers are getting more aggressive about stopping the greenback's decline, the Wall Street Journal reports. In what counts as blunt words for the group, a statement yesterday expressed concern about the plummeting dollar's "possible implications for economic and financial stability." The change in tone since the group's last meeting a year ago is aimed at sending a signal to traders; the ministers stopped short of using G-7 money to buy up dollars to push the currency upward. More »

      Tags

      US dollar  • finance  • euro  • weak dollar  • currency  • currency exchange  • Group of Seven

    • Skyrocketing Yuan Hits Benchmark

      newser  |  New York Times  |  Apr 10, 08 2:34 PM CDT

      Skyrocketing Yuan Hits Benchmark

      For the first time since China unpegged its currency from America’s in 2005, a dollar bought less than 7 yuan at closing today in Beijing, the New York Times reports. Western countries protested for years the yuan was undervalued; its meteoric rise means Chinese goods are getting more expensive in the US—raising inflation fears. More »

      Tags

      Henry Paulson  • US dollar  • weak dollar  • global economy  • yuan  • Chinese economy  • US imports

    • Venice Bar Uses Discount to Lure 'Poor Yanks'

      newser  |  Reuters  |  Apr 8, 08 10:05 AM CDT

      Venice Bar Uses Discount to Lure 'Poor Yanks'

      Harry's Bar in Venice has offered hospitality to tourists and expatriates since the days of Ernest Hemingway. But in recent months Harry's has noticed a sharp drop in the number of Americans showing up at the home of the Bellini cocktail. So restaurant owner Arrigo Cipriani has a novel solution: a 20% discount to subprime-stricken Americans for everything on the menu. More »

      Tags

      Italy  • weak dollar  • Venice  • discounts  • Ernest Hemingway  • Arrigo Cipriani

  • March 2008

    • Oil Hovers Near $102 a Barrel

      newser  |  Associated Press  |  Mar 26, 08 6:16 AM CDT

      Oil Hovers Near $102 a Barrel

      Concern about potential supply disruptions in Iraq and American gasoline reserves pushed oil prices up for the second day in a row, despite expected news from the Energy Department that crude supplies in the US had rebounded, reports the Associated Press. The US dollar’s continued depreciation against a slew of currencies also helped inflate the price. More »

      Tags

      oil price  • inflation  • crude oil  • weak dollar  • oil supply

    • Fed Cuts Key Interest Rate ¾ Point

      newser  |  Wall Street Journal  |  Mar 18, 08 1:37 PM CDT

      Fed Cuts Key Interest Rate &frac34; Point

      The Federal Reserve today cut the federal funds rate by ¾ of a percentage point, from 3% to 2.25%, disappointing many investors who were hoping for a cut of a full point, reports the Wall Street Journal . The Fed voted 8-2 for the rate cut. "Recent information indicates that the outlook for economic activity has weakened further," the central bank said in a statement, adding it will take further action when needed. More »

      Tags

      Federal Reserve  • Ben Bernanke  • interest rate cut  • weak dollar

    • Dow Plummets 214 Points

      newser  |  MarketWatch  |  Mar 6, 08 3:44 PM CST

      Dow Plummets 214 Points

      The markets fell sharply today as the dollar hit a fresh low against the euro, oil prices hit a fresh high, and more bleak news on the housing front came to light, MarketWatch reports. The Dow plummeted 214.6 points to settle at 12,040.39, its lowest level in 18 months. The Nasdaq fell 52.31 points to 2,220.50, and the S&P 500 dropped 29.36 to 1,304.34. More »

      Tags

      S&P 500  • oil price  • Nasdaq  • Dow Jones Industrial Average  • weak dollar  • liquidity  • Carlyle Group  • Thornburg Mortgage

    • Oil Gushes to Record $105.96

      newser  |  Bloomberg  |  Mar 6, 08 8:32 AM CST

      Oil Gushes to Record $105.96

      An ever-weakening dollar, an unexpected drop in US crude oil reserves, and a Wednesday OPEC decision not to boost production helped spur oil to a record $105.96 a barrel, Bloomberg reports. It's the third record this week, and the dollar’s $1.5345 against the euro is the lowest level its reached since the euro was introduced in 1999. More »

      Tags

      oil price  • oil  • crude oil  • OPEC  • euro  • weak dollar  • $100 a barrel oil

  • February 2008

    • A Vintage Year for Wine Exports

      newser  |  Los Angeles Times  |  Feb 29, 08 12:31 PM CST

      A Vintage Year for Wine Exports

      The dollar’s decline is a boon for California winemakers, who’ve turned the greenback’s challenges into opportunities, expanding exports of everything from top vintages to bulk table wines, reports the Los Angeles Times . California wine exports, 95% of the wine the US sends overseas, jumped 9% to nearly $1 billion in 2007. "American wines are a bargain,” said one analyst. More »

      Tags

      California  • US dollar  • wine  • weak dollar  • wineries  • wine industry  • US exports  • Gallo

    • Big Apple Opens Arms to Euros

      newser  |  Reuters  |  Feb 7, 08 12:00 PM CST

      Big Apple Opens Arms to Euros

      The falling dollar has made the US a travel bargain, and some merchants in New York City have flung open their doors—and their tills—to the sudden influx of foreign currencies, Reuters reports. The euro, up 12% against the dollar in the past year, is particularly common. "Money is money,” said wine-store owner Robert Chu. More »

      Tags

      New York City  • US dollar  • euro  • weak dollar  • Mexican border  • exchange rate  • foreign currency

    • Slow Jan. Sales Worry Retailers

      newser  |  Wall Street Journal  |  Feb 7, 08 8:46 AM CST

      Slow Jan. Sales Worry Retailers

      Winter storms and lagging gift-card redemption iced Wal-Mart’s January same-store sales growth, the retailer said, raising concerns the US is in a recession, reports the Wall Street Journal . Wal-Mart expected 2% sales growth in stores open more than a year, but saw sales bump just 0.5%. Its 1.4% rise in same-store sales for the fiscal year was the lowest in 30 years. More »

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