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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: global economy

global economy stories: 90 news summaries

41 - 60 of 90 Stories | << Prev 1 2 3 4 5 Next >>

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 Global Plunge 
 Panics Economists 

Markets dive worldwide as new figures point to intractable slowdown

Feb 18, 09 4:13 AM CST
(Newser) - The markets' global plunge yesterday was testament to a new, scary fact, writes the Washington Post: the world economic crisis is getting even worse. New figures show the economies of Japan, Britain and Germany contracting at their fastest in decades, while emerging markets like Russia and Brazil are tanking, and... More »

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growth • recession • unemployment • global economy • financial crisis

(AP) - This was no Roman holiday for Timothy Geithner. But after crashing global markets with a botched rollout of a bank rescue plan, the new Treasury secretary earned better reviews from global finance officials meeting in Rome. Geithner appeared more assured at a news conference here following two days of G-8... More »

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global economy • Group of Seven • Treasury secretary • Wall Street bailout • Timothy Geithner

(Newser) - German businessman Adolf Merckle, 74, killed himself yesterday in the face of mounting debt and a crumbling multibillion dollar empire, Bloomberg reports. Merckle’s personal fortune of $9.2 billion put him 94th on Forbes' list of the world’s richest people, but his holding company, which owned stake... More »

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suicide • Germany • obituary • debt • global economy • economic downturn • Adolf Merckle • holding company • Heidelberg • recession depression

Vindicated in 2008, Some Experts Foresee Gloomy '09

A few who called last year's calamities correctly see grim days ahead

Jan 2, 09 10:52 AM CST
(Newser) - Labeled overly pessimistic for years, a few Wall Street prognosticators became the oracles of 2008 by correctly predicting the unwinding of the global economy, the Wall Street Journal reports. The doomsayers correctly anticipated bank failures, stock market declines, and the housing market collapse of the second half of 2008. As... More »

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stock market • global economy • bonds • credit crisis • housing crisis • housing bubble • financial crisis • financial meltdown

 Plunging Exports Roil Asia 

Declining global demand sends shock across the continent.

Dec 23, 08 9:12 AM CST
(Newser) - Asia, the manufacturing powerhouse of the last few decades, is experiencing a plunge in exports unprecedented in modern history, the Washington Post reports. Japan, the world’s second-largest economy, reported yesterday that exports dipped 27% in November, while Thailand’s exports shed 19%, the most in 17 years. Taiwan’s... More »

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exports • recession • global economy • supply and demand • financial crisis • Chinese exports

Russia Tycoons Seek $78B Kremlin Bailout

Looming foreign debt forces oligarchs to return power to state

Dec 22, 08 10:33 AM CST
(Newser) - A dozen years after bailing out the Soviet government, Russia’s oligarchs are seeking $78 billion in Kremlin handouts to weather the credit crunch, Bloomberg reports. Russian businesses have racked up some $110 billion in foreign debt due in 2009. The one-year loans, sought by more than 100 companies, would... More »

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Russia • Oleg Deripaska • Roman Abramovich • global economy • credit crisis • bailout • economy • financial crisis • financial meltdown • Dmitry Pumpyansky • Alexander Lebedev

UPDATED

Euro Central Banks Slash Interest Rates

Bank of England drops rate to 2%, ECB to 2.5%, Sweden to 2%

Dec 4, 08 7:21 AM CST
(Newser) - The Bank of England cut interest rates a full 1% today to 2%, the lowest level since 1939, and the European Central Bank followed with a cut of 75 basis points, to 2.5%, the largest cut in its 10-year history, MarketWatch reports. Those moves came on the heels of... More »

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global economy • European Central Bank • Bank of England • interest rate cut • financial crisis

China's Heavy Industries Steel for Crash

Global downturn freezes country's industrial transformation

Nov 26, 08 1:44 AM CST
(Newser) - The global slowdown is rapidly shutting down China's heavy industries, the New York Times reports. Just months after the government warned that the red-hot economy could lead to runaway inflation, the nation's steel, cement and construction industries now find themselves with a huge excess of capacity—and workers. Growth is... More »

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China • global economy • Chinese economy • industry • Chinese exports

 What Recession?
 Dubai Throws $20M Party 

Star-studded night boasts fireworks display visible from space

Nov 21, 08 1:28 PM CST
(Newser) - Rich and famous people from around the world avoided the recession blues last night by flocking to a ridiculously extravagant party on a man-made island in Dubai, Bloomberg reports. Boasting a performance from Kylie Minogue and a fireworks display that could be seen from space, the party was the emirate’... More »

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Michael Jordan • Dubai • recession • global economy • luxury • Kylie Minogue

US Dominance 'Fading Fast'
as Global Upheaval Looms


Report predicts increasingly unstable world future as wealth and power shift

Nov 21, 08 2:15 AM CST
(Newser) - US intelligence agencies believe the next 20 years will be the twilight of America's global dominance, the Times of London reports. A report from the National Intelligence Council paints a bleak future of an increasingly unstable world in which new powers and alliances emerge as competition for dwindling resources heats... More »

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America • US intelligence • global economy • USA • intelligence agencies

OPINION

 To Save Economy, Go Shopping 

Friedman suggests how Obama should lead America out of its economic mess

Nov 16, 08 10:37 AM CST
(Newser) - To stop the economic recession from slipping into a depression, Barack Obama shouldn’t mince words: Americans need to go shopping and support federal efforts to rescue banks and homeowners, Thomas Friedman writes in the New York Times. “No, it’s not fair. But fairness is not on the... More »

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global economy • Thomas Friedman • subprime crisis • financial crisis • President Obama

(Newser) - Today's summit of world leaders may have found broad agreement on the need for bold reform of the global markets, but it left the toughest decisions to future meetings, the Wall Street Journal reports. The broad strokes include greater oversight of banks and credit-rating agencies, a review of executive pay,... More »

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global economy • developing countries • economy • G20

Developing Nations Get a Say in Economic Summit

Signals expanding of world power

Nov 15, 08 10:04 AM CST
(Newser) - When George Bush convenes his economic summit today, he’ll see some less familiar faces around the table. In what could signal a historic shift in global power, Bush hasn’t just invited the wealthy nations of the G-8 to this summit, but a wider Group of 20, including developing... More »

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diplomacy • global economy • crisis summit • summit • G20 • G-8

MARKET Open

 Chinese Stimulus Lifts Dow 

Index surges 150+ at open, following Asian lead

Nov 10, 08 8:49 AM CST
(Newser) - Stocks jumped out of the gate today, thanks to a $586 billion stimulus package from Beijing. The Dow was up nearly 200 just after opening, the Wall Street Journal reports, and the S&P and Nasdaq climbed 1.8% and 1.2%, respectively. The moves followed rallies overseas, including a... More »

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China • stock market • Dow Jones • Shanghai Composite Index • global economy • Nikkei • AIG • Dow • commodities • economic stimulus package • Circuit City • S&P 500 • financial crisis

MARKET opener

 Stocks Take Early Plunge 


Oct 24, 08 8:54 AM CDT
(Newser) - Stocks took a big plunge at the open today, with the Dow down 411 points, after a morning that saw Dow and S&P futures fall so far that trading was halted. Driving the pessimism were similar plunges overseas, with the Nikkei down 9.6%, and London’s FTSE down... More »

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stock market • NASDAQ • Dow Jones • recession • global economy • S&P 500 • stock futures

OPINION

Starbucks Helped Brew Meltdown—Just Check a Map

Coffee empire's rise tracked (and fueled) housing's, and store locator mirrors trouble spots

Oct 21, 08 3:48 PM CDT
(Newser) - A simple tool could hold the key to predicting where the financial crisis will strike next, Daniel Gross writes on Slate: Starbucks’ Internet store locator. “Having a significant Starbucks presence is a pretty significant indicator of the degree of connectedness to the form of highly caffeinated, free-spending capitalism that... More »

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Starbucks • globalization • global economy • credit crisis • chain stores • financial crisis • financial meltdown • Daniel Gross

 Bush to Host 
 Economic 
 Summit 

World meeting to be held 'in the near future'

Oct 18, 08 2:18 PM CDT
(Newser) - President Bush will soon announce his plan to host a global summit on the financial crisis, MSNBC reports, to be held in the near future. “The president wants participation and ideas from both developed and developing nations,” one official said on condition of anonymity. Bush will meet with... More »

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global economy • summit • economy • George W. Bush • financial crisis

OPINION

From Carnage
of Crisis Rises Vast Opportunity

World must act to overhaul finance for next era: Gordon Brown

Oct 17, 08 7:31 AM CDT
(Newser) - The British plan to recapitalize world banks helped calm global markets, but Gordon Brown isn't done yet. In an op-ed for the Washington Post, the prime minister declares that we face "a defining moment for the world economy" on par with the aftermath of World War II, and that... More »

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globalization • World Bank • International Monetary Fund • Gordon Brown • global economy • regulation • financial crisis • Bretton Woods

 Oil Sinks Below $70 
 as Economy Tanks 

Price oil halves in 3 months as demand takes a dive

Oct 17, 08 2:20 AM CDT
(Newser) - Dropping demand sent a barrel of oil dipping below $70 for the first time in 14 months yesterday, the Wall Street Journal reports. Prices have dropped more than 50% in three months—a sign of a deeply troubled economy, but one that could help the world recover as companies that... More »

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oil • recession • global economy • US economy • oil price • oil prices • financial crisis

 Nikkei Up 14% in Record Rally 

Bank support plans boost Japan's index to biggest gain in its history

Oct 14, 08 1:59 AM CDT
(Newser) - The Nikkei  surged over 14% on the news that the US and Europe will buy up stakes in troubled banks, Bloomberg reports. The index's biggest gain in history follows its biggest loss in its history last week. Japan's markets were closed for a holiday yesterday when global indexes soared. Hong... More »

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stock market • global economy • Nikkei • Hang Seng • Asian markets • financial crisis

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