Economic growth in India slowed at the end of last year, the government reported Wednesday, raising concerns about whether emerging markets will continue to be the engine of global growth.
European leaders have taken "substantial" steps to contain the eurozone debt crisis, but they need to build a stronger financial firewall to ensure the safety of the global economy, top finance officials said Sunday.
The International Monetary Fund lowered its outlook for the world economy on Tuesday, and warned that the global financial system faces growing risks from the debt crisis in Europe.
The World Bank Wednesday slashed its 2012 growth forecasts for both emerging and developing economies from its estimates of only six months ago, and warned the world is on the cusp of a new global recession that could be as bad as the crisis four years ago.
Investors may be saying good riddance to a choppy year, but they'd better buckle up. The first quarter of 2012 is going to be a roller coaster ride, with Europe front and center.
Consumers rarely see one of the most important and dramatic elements of the increasingly global economy: the mammoth ships that keep the whole system moving. Virtually everything we buy traveled by ship at some point or contains materials that did, so shipping trends show how world trade is shifting. By far the largest force in global shipping is A.P. Møller-Maersk, the Copenhagen-based company that operates more than 500 container ships and 225 tankers, in addition to developing ports, operating drilling rigs, and offering related services. Even dominant size doesn't fully shield Maersk from the whipsawing global economy: 2009 was its worst year ever, and 2010 was its best.
Europe is hurting for cash, and central banks around the world are stepping in to give it a boost.
Commodity prices across the board moved higher Wednesday, with oil prices topping $100 per barrel for the second time in almost six months. And experts said this time they could actually keep climbing.
Italian President Giorgio Napolitano said Wednesday that his country will adopt a series of austerity measures promised to the European Union, as officials try to allay investor fears and head off a eurozone debt crisis.
CNN's Erin Burnett talks to Wolf Blitzer about the big drop fueled by concerns over Italy.
After a summit dominated by concerns about Europe, the world's most powerful political leaders produced a two-page "action plan" for the global economy that builds largely on existing policies previously stated goals.
China will make new commitments on its exchange rate policy Friday as part of the official Group of 20 communiqué, according to a U.S. official close to the matter.
The world's most powerful political leaders will gather this week in France to chart a course for the global economy as the outlook for growth remains fraught with risks.
The eastern Chinese city of Wenzhou produces more cigarette lighters and spectacles than anywhere on earth, and has long been seen as an economic trend-setter for the entire country. So reports that dozens of factory owners in the city have absconded in recent weeks, leaving workers unpaid and mountains of debt, are seen by some as an ominous sign for the national economy.
Finance ministers from the world's largest economies pledged Saturday to take "all necessary actions" to stabilize global financial markets and ensure that banks are well capitalized.
U.S. Treasury Secretary Tim Geithner warned Saturday that the sovereign debt and banking crisis in Europe represents "the most serious risk now confronting the world economy."
Finance ministers and central bankers from the world's largest economies reiterated their pledge to stabilize the global economy, but they failed to impress investors, who are eager for the Group of 20 to take action.
The recession alarm bells were ringing across the globe Thursday, spooking investors and economists alike.
The International Monetary Fund has lowered its global growth outlook, warning that "the global economy is in a dangerous new phase."
The global recovery "is in danger of skidding off course", according to the latest Brookings Institution-Financial Times tracking index of the world economy, with growth slowing down sharply amid financial turbulence and policy paralysis.
Finance officials from the world's largest industrialized nations pledged Friday to work together to support the sputtering global economy. The Group of Seven issued a brief statement as finance ministers and central bankers kicked off a two-day meeting in Marseille, France. "We meet at a time of new challenges to global economic recovery with significant challenges to growth, fiscal deficits and sovereign debt stemming from past accumulated imbalances," the G7 said. "This is reflected in heightened tensions in global financial markets."
International Monetary Fund Managing Director Christine Lagarde sounded the alarm Thursday that global economies are in a "dangerous phase," in her first major speech in Washington since taking over as fund chief.
U.S. stocks were headed for another day of losses Friday, as worries of a global slowdown and Europe's debt crisis sparked a second sell-off in global markets.
World stock markets fell Friday, following a bruising sell-off in global markets during the previous session. Asian stocks ended broadly lower, European stocks opened in the red and U.S. futures pointed to a down start.
Asian stock markets opened lower Friday following a bruising selloff in global markets during the previous session.
CNNMoney: Stocks get demolishedupdated: Thu Aug 18 2011 16:40:00
Wall Street got socked on Thursday as renewed concerns about the U.S. and global economies sent major indexes plunging and pushed gold to a new high and bond yields to a record low.
U.S. stocks were headed for a sell-off Thursday, tracking steep declines across world markets and pushing gold to a new record.
Oil prices jumped Thursday, inching closer to $100 a barrel on signs of stronger economic growth and a bullish outlook on commodities from two big investment banks.
The International Monetary Fund on Friday lowered its forecast for U.S. economic growth, and warned that risks to the global recovery have increased.
In his first comments since taking the helm of the International Monetary Fund, acting director John Lipsky urged policy makers Thursday to work together to strengthen the global economy.
The push to replace the U.S. dollar as the world's reserve currency has been gaining steam, with one expert arguing that America "must give up on the dollar."
Financial ministers from G-20 nations head this weekend to Washington, where they will brainstorm a new set of standards to tackle global economic imbalances.
The world's leading nations concluded a two-day G-20 meeting in Paris on Saturday by pledging to support the new governments arising in revolution-torn Egypt and Tunisia.
CNN's Jim Bitterman reports on the conclusions of the G20 summit.
U.S. stocks closed higher Friday, with the Dow rising to a two-year high as the two-day meeting of the G-20 finance ministers kicked off in France.
U.S. stocks were set to open little changed Friday as investors took a wait-and-see approach to the G-20 meeting of finance ministers underway in France.
U.S. officials will continue to press China over the manipulation of its currency at this week's G-20 summit, a senior Treasury Department official said Tuesday.
The high standard of living most Americans enjoy could be at risk. And the looming danger is caused by two little words -- "global imbalances."
China continues to manipulate its currency and the nation's "exclusionary" trade policies have contributed to a massive deficit with the United States, a special commission said Wednesday.
It was only last week that investors were spending all their time analyzing the outcome of the midterm elections, the Federal Reserve's quantitative easing announcement and the October jobs report.
President Barack Obama discusses the global economy and the progress being made to make it grow.
Leaders of the G-20 nations on Friday agreed to "refrain" from all-out currency warfare, but failed to meet high expectations that they would come up with a plan to stabilize the world economy.
Stocks sold off at the open and never looked back Thursday after a disappointing outlook from Cisco Systems dragged on the technology sector all day.
Changes in the global pecking order are coming.
President Obama talks about Indonesia's struggle for freedom in a visit to the country.
U.S. President Barack Obama arrived in South Korea on Wednesday, where the leaders of top global economies will convene at the G-20 summit to try to stabilize the world's financial markets.
The Group of 20 Summit in Seoul, South Korea, on November 11 and 12, may be the most important meeting of this group to date.
U.S. stocks were poised to open slightly lower Monday as investors shift their focus to the global economic picture.
CNN's Paula Hancocks reports from the G-20 finance ministers meeting in Seoul, South Korea.
Officials at the Group of 20 nations summit in South Korea have agreed on substantial changes for the International Monetary Fund, according to IMF Managing Director, Dominique Strauss-Kahn. If approved, the historic reforms would give developing nations a stronger voice within the institution.
The Obama administration has a big goal going into this weekend's Group of 20 finance ministers' meeting in South Korea: Press China and other nations to allow currencies appreciate.
South Korea will mobilize its largest security force ever in anticipation of widespread protests during the G-20 summit next month in Seoul, the Yonhap news agency said.
At the G20 summit in Toronto last month, the leaders of world's largest economies embraced a brave new theme: Halting the alarming, potentially ruinous growth in already mountainous sovereign debt.
IMF Chief Economist Olivier Blanchard talks to CNN's Andrew Stevens about the state of the global economy.
Concerns about the global economy roiled world financial markets Tuesday after a report on leading indicators in China was revised lower.
Treasury prices gained Monday after world leaders called for drastic deficit cuts at the G-20 economic summit this weekend.
U.S. stocks were expected to open flat Monday after leaders of the world's economic powers committed to reducing deficits over the next few years and reports on personal income and spending came in close to expectations.
The Group of 20 leaders meeting in Canada this weekend "have forged a coordinated response to the worst global economic crisis in our time," U.S. President Barack Obama said Sunday at the conclusion of the summit.
As world leaders meet in Toronto for the G-20 meeting, CNN's Jim Boulden examines what's on the agenda.
President Obama delivered remarks about Wall Street financial reform before departing for the G-20 summit in Toronto.
The spotlight is on security -- as well as economic recovery plans -- as leaders from the world's biggest economies gather in Toronto for a pair of summits this weekend.
Canadian police arrest a 53-year-old man near the site of the G-20 summit. CNN's Jeanne Meserve reports.
The dollar gained versus the euro Tuesday as optimism about China's decision to let its currency float more freely faded and investors turned to the safety of the greenback.
Unless you spend all your time looking at GDP figures, the $58 trillion global economy is almost too big to fathom. In a famous 1995 article in Prospect magazine, the British writer Nico Colchester attempted to make this immense figure more manageable by imagining the world economy as 26 Italys. Italy, he thought, was a convenient unit of account (back then its economy was worth roughly $1 trillion). Besides, all of us sort of know what Italy looks like and makes. As an economy you can picture it.
China has finally announced a long hoped for move that will allow its currency to gradually trade higher. But there was nothing gradual about Wall Street's reaction.
Despite China's decision to let its currency float more freely, the dollar gained Monday as investors recognized China's move would be gradual.
China took steps Saturday to let its currency trade more freely, but investors and U.S. policy makers should not expect a large increase in its value.
Fortune: Questioning Keynesupdated: Thu Jun 10 2010 16:42:00
In the 1930s, British economist John Maynard Keynes spearheaded a revolution in economic thinking: The free market is imperfect. And because of these imperfections, it's the government's job to intervene and somehow make things right.
Another day, another international crisis rattles the world's financial markets.
Big promises, no international climate deal and consensus that pulling the plug too quickly on stimulus spending could undermine the global economic recovery -- those are the key results (or lack thereof) from the APEC summit, which wraps up Sunday in Singapore.
Herman Ude, CEO, DHL Global Forwarding, Freight speaks to CNN's Andrew Stevens about the state of global trade.
U.S. stocks were poised for a lower start Tuesday as the momentum that fueled the previous session's rally started to fade.
President Obama nominates Ben Bernanke for a second term. CNN's Jim Boulden reports.
Leaders of G-20 nations committed Friday to a timeline to establish and enforce new rules aimed at spurring financial firms around the globe to improve capital cushions and avoid taking risk.
CNN Radio's Steve Kastenbaum reports from the G-20 Summit in Pittsburgh on Pres. Obama's role and the protesters outside.
Leaders of the G-20 economic summit will announce Friday that the group will become the new permanent council for international economic cooperation, senior U.S. officials told CNN Thursday.
CNN's Brian Todd is in Pittsburgh where protesters are expected to crash the G-20 Summitt.
Leaders representing 90 percent of the world's economic output were gathering Thursday in a U.S. city that has reinvented itself, hoping to bolster the global economy.
As the leaders of the world's industrial powers gather this week in Pittsburgh, Pennsylvania, their economies are starting to emerge from the shadow of the worst financial downturn since the Great Depression.
CNN's Charles Hodson asks what this week's G-20 meeting will likely achieve.
British Prime Minister Gordon Brown said Monday he believed world leaders would "rise to the challenge" at this week's G-20 summit by agreeing firm measures to set about tackling the global financial crisis.
© 2012 Cable News Network. Turner Broadcasting System, Inc. All Rights Reserved.
|