Central bankers and economists from around the globe will once again flock to the Federal Reserve's annual gathering in Wyoming this week, and once again will meet against the backdrop of volatile markets and the prospect of further Fed support for a struggling U.S. economy.
A sweeping U.S. budget deal has brightened the country's fiscal outlook but unemployment will remain high over the near term, nonpartisan congressional forecasters said on Wednesday.
Stocks rose on Wednesday after the Congressional Budget Office offered an upbeat forecast on the worrisome budget deficits and data showed a strong reading on durable goods orders.
When Sean McGowan signed a contract to buy a New Jersey home in November, he didn't expect he'd still be living with his parents nearly a year later.
New orders for long-lasting U.S. manufactured goods rose more than expected in July on strong demand for aircraft and motor vehicles, government data showed on Wednesday, but a gauge of business spending fell.
The much-maligned U.S. debt deal is not inconsequential, according to latest budget deficit and economic analysis report from the Congressional Budget Office (CBO) -- it slices next year's deficit to $973 billion from $1.28 trillion this year, and it will also lower interest rates.
It's true that mounting facts support the argument that we're experiencing Tech Bubble 2.0, primarily because of what seems to be overzealous enthusiasm for Internet company stock IPOs on Wall Street in recent months.
A sweeping budget deal and lower interest rates will slice projected U.S. budget deficits nearly in half over the next 10 years, but the economy will remain sluggish in the near term, the nonpartisan Congressional Budget Office reported on Wednesday.
After being held up as a model of strength in a region saddled with debt and low growth, Germany suddenly finds itself in a perfect economic storm that could force it to rethink its approach to the crisis plaguing the wider euro zone.
Gold prices dropped sharply Wednesday after a strong U.S. durable goods report, profit-taking by investors and encouraging news from the Congressional Budget Office about the deficit.
Whether the Federal Reserve likes it or not, its unprecedented monetary polices over the last few years have conditioned the financial markets to expect a helping hand when the going gets tough.
The U.S. Federal Reserve used a non-competitive bid process when it secured middlemen services to maintain liquidity in the critical money-market fund market -- an emergency action necessitated by the financial crisis triggered by the collapse of Lehman Brothers.
Online data tracking service comScore Inc siphons confidential information including passwords, credit card numbers and Social Security numbers from unsuspecting users, according to a lawsuit filed on Tuesday.
New orders for long-lasting U.S. manufactured goods surged in July on strong demand for transportation equipment, government data showed on Wednesday, but a gauge of business spending fell.
Home mortgage applications for purchases fell to a nearly 15-year low last week as resurgent worries about the strength of the economy kept buyers at bay, an industry group said on Wednesday.
Investors are agonizing over the prospect of another round of quantitative easing that could come from the Fed chairman Ben Bernanke’s Jackson Hole summit later this week.
China vowed on Wednesday to appeal a recent World Trade Organization ruling against its raw materials export policy, a case that could threaten Beijing's handling of rare earths.
A strong durable goods report Wednesday helped reverse a short-lived rebound in precious metals, which had been gaining early in the day on a downgrade of Japan and worries that economic growth in both the U.S. and Europe was tepid at best.
Stock index futures were lower on Wednesday following a sharp rally in the previous session as the market displayed little trend except volatility ahead of the upcoming Federal Reserve meeting.
When Sean McGowan signed a contract to buy a New Jersey home in November, he didn't expect he'd still be living with his parents nearly a year later.
Gold bounced back on Wednesday after suffering its worst setback in 18 months, as risk appetite retreated on Japan's debt rating downgrade, while oil and metals were supported by hopes the U.S. would inject fresh stimulus to boost the economy.
The deadline for pay talks between Freeport McMoRan Copper & Gold and its Indonesian workers has been extended until the end of this week, with little progress made so far, a union official told Reuters on Wednesday.
Spot gold rebounded in Singapore overnight on Wednesday from its worst day in 18 months, while bullion's safe-haven appeal seemed to be waning for now with investors returning to riskier assets on hopes of more stimulus for the U.S. economy.
For Eriko Ebina, standing outside a downtown Tokyo medical equipment store that has a side business buying gold, the recent surge in prices for the precious metal was just too tempting.
South Africa's Harmony Gold Mining Co , the world's fifth-largest gold producer, said on Wednesday output for its 2012 financial year should rise to between 1.45 million ounces and 1.55 million from around 1.3 million in 2011.
As gold prices near $2,000 an ounce, some bulls say it's time to take money off the table after the safe-haven rally extended too far, too fast in recent weeks.
German business morale dropped to its lowest in 14 months in August, its steepest decline since late 2008 that signals Europe's bulwark economy is losing the momentum that has kept some of its euro zone peers going.
Taiwanese PC maker Acer Inc reported a worse-than-expected quarterly loss, the first in company history, as it took charges to reorganize in a troubled first half, and said it would be impossible to break even for the full year.
China vowed on Wednesday to appeal a recent World Trade Organization ruling against its raw materials export policy, a case that could threaten Beijing's stance on rare earths, which it contends is in line with the trade body's rules.
Moody's Investors Service cut its rating on Japan's government debt by one notch to Aa3 on Wednesday, blaming a build-up of debt since the 2009 global recession and revolving-door political leadership that has hampered effective economic strategies.
