global economy

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At $832 an Ounce, All That Glitters Is Gold

Economic uncertainty drives price toward 1980 highs

(Newser) - Gold’s lure as a safe haven from economic upheaval has Wall Street worried that investors are turning their backs on the markets, reports the LA Times. Gold prices have pushed steadily toward $850 an ounce, a level it hasn’t seen since 1980. "The markets' statement is that...

OPEC Surprises Market With Boost in Oil

Lends hand to world economy dragged by US credit-market crisis

(Newser) - OPEC surprised traders today by boosting oil production for the first time in a year, Bloomberg reports. Concerns over the U.S. market crisis dragging down the world economy inspired the spike of 500,000 barrels a day. The US reportedly prodded Saudi Arabia to overcome the opposition of other...

Bush Promises Mortgage Relief
Bush Promises Mortgage Relief
Aug 31, 2007 2:52 PM CDT

Bush Promises Mortgage Relief

Fed agencies to offer aid to help Americans during credit squeeze

(Newser) - The government will roll up its sleeves and aid homeowners battered by the subprime mortgage crunch, but it will forsake “speculators” trying to exploit the crisis, President Bush said today. The FHA will step in and help delinquent borrowers avoid foreclosure by refinancing at lower rates, but experts predict...

Euro Stocks, US Futures Rise, Asia Dips

Big exporters still trembling over possible US slowdown

(Newser) - European stocks and US futures advanced overnight, as traders waxed optimistic that the credit crisis won't spread to affect the broader economy. But Asian markets are more concerned about the general prospect of a US slowdown—which could hit Asia's export-heavy economy hard.

Paulson: Downturn Won't Provoke Recession

Economy tough enough to take market turmoil

(Newser) - The current turmoil in the financial markets will take its toll on the economy, but  won't cause a recession, Treasury Secretary Henry Paulson tells the Wall Street Journal in his first interview since the downturn began. Paulson says the crisis comes in the context of a very strong global economy—...

BlackBerries Save Vacations for Bankers With Sand

It's required beach reading in a crisis

(Newser) - As the volatile global markets continue to burn investors, tan-fan investment bankers are managing to keep tabs on crisis-threatened portfolios and still rack up required hours on the beach—with the help of their BlackBerries. The devices have become as de riguer as umbrellas and suntan oil on sands from...

US Economy Surpasses Forecasts
US Economy Surpasses Forecasts
Jul 27, 2007 12:05 PM CDT

US Economy Surpasses Forecasts

Second-quarter growth rate higher than expected

(Newser) - Sumbrime-lending and housing-market woes didn't hold back the rest of the economy in the second quarter, as overall growth exceeded expectations and hit a 3.4% projected annual rate, the government said today. Economists pointed to the expanding global economy, which drives demand for exports, as well as greater business...

Inflation-Free Growth Is Too Good to Last

Inflation and higher interest rates could cool world markets

(Newser) - Globalization and access to low-cost labor has allowed the world economy to grow without high inflation, but this economist's dream may soon end, the Wall Street Journal predicts in a cautionary report. Demand for everything from workers to lumber is increasing, raising prices—and the prospect of higher inflation.

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