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Signs Are Pointing South on Wall St. Wall Street is betting on a recession. Investors in stocks and bonds are paying prices that indicate they believe a snowballing housing crisis and worsening credit crunch will soon tip the U.S. economy into a recession, analysts said. Many economists, including leaders of the Federal Reserve, don't..
Wall St. Soars on Hopes of Rate Cut. A top Federal Reserve official yesterday acknowledged that a downturn in financial markets over the past months has increased the chances of a serious economic slump -- and the stock market soared, as investors took his words to mean that the central bank will cut a key interest rate further.
In U.A.E, Weakened Dollar Slows Dubai Tower's Race to the Skies. DUBAI, United Arab Emirates -- The foreign workers building the Burj Dubai skyscraper average up to a new floor every three days as developers race to raise the tallest structure mankind has ever built.
Inflation Echoes From Abroad. The Federal Reserve disappointed Wall Street yesterday with its measly quarter-point reduction in interest rates. Yes, the Fed said, credit conditions have deteriorated and a recession is possible, but with consumer prices likely to end the year up nearly 4 percent, we're not exactly in the target..
Toyota Becomes No. 2 in U.S. Sales. Ford was knocked from the No. 2 position in the U.S. auto market, outmaneuvered by Toyota's surging sales of small cars and gas-electric hybrids, according to year-end figures released yesterday.
Job Woes Deepen Economic Anxiety. The unemployment rate soared and job growth came to a near-halt in December, the government said yesterday, as the housing downturn rippled through the economy. It is the strongest evidence to date that growth is slowing.
The Stress Is Just Beginning. NEW YORK If the first three trading days of the year are any indication, 2008 is bound to test the nerves of even the most poised investors.
Bank of America to Buy Countrywide for $4B in Stock. Bank of America has agreed to buy troubled Countrywide Financial Corp. for $4 billion, rescuing the nation's largest mortgage lender from possible bankruptcy and adding to a financial industry shakeout that has rattled global markets.
U.S. Downturn Effects May Ease Worldwide. The spillover effect of the U.S. housing crisis and economic downturn will slow the global economy this year, the International Monetary Fund said yesterday. But some observers insist such forecasts could be worse, noting that America's role in the global marketplace is not as dominant as it once..
For Fed, It's Not Clear-Cut. Ben S. Bernanke and his colleagues at the Federal Reserve will decide today whether to cut interest rates for the second time in a week -- and find themselves in the difficult position of having either to risk cutting rates too much or risk disappointing financial markets and spurring more panic.
Worried Fed Cuts Key Rate Again. The Federal Reserve cut a key interest rate yesterday for the second time in just over a week, as its leaders concluded that the distress in financial markets is a sufficiently grave threat to ordinary Americans to warrant the most aggressive campaign of rate cuts in the modern history of the cen..
More Banks Stiffen Rules, Fed Finds. Many U.S. banks have made it harder for creditworthy borrowers to obtain a mortgage, according to a Federal Reserve survey released yesterday that underscored the spread of the credit crisis.
A Great Debate Over the Price Of a Pair of Honduran Socks. The humble cotton sock has become the center of an international trade dispute.
Asian Stocks Sink After Dow's Plunge. SINGAPORE, Feb. 6 -- Stock markets across Asia plunged on fears that a U.S. recession will cut demand for exports.
Rising Costs in China Seep Into U.S. Market. SHENZHEN, China -- A year ago, Mei Meng's factory sold foot-tall plush teddy bears, rabbits and ducks for export to the United States for $1.30 each. Now they're $2, and he doesn't rule out the possibility that prices will go up again.
Bernanke Calls for Action to Prevent Foreclosures. Federal Reserve Chairman Ben S. Bernanke today said the crush of mortgage foreclosures is likely to continue for "a while longer" and urged lenders to move more aggressively to reduce the amount owed by many of the borrowers at risk of losing their homes.
March's Prize: Win a Trip for Two to Hawaii. Frommers.com and Hawaii.com are sending one lucky winner and a guest on a trip to Hawaii. Register now to win this vacation!
March Madness: Spring Break and Easter, Not-So-Perfect Together. We've found some packages and promotions for Easter and end-of-winter escapes where your much needed break won't be broken by student masses.
Travel Troubleshooter: Remember My Alamo Rate. When our reader's car rental company runs out of the vehicle he reserved, it sends him to an agency next door. How nice, right? Then the bill arrives.
LG Electronics, GE Consumer & Industrial sign licensing pact. South Korea's LG Electronics Wednesday said it has signed a cross license agreement with GE Consumer & Industrial, allowing the two companies to use each other's patents for refrigerators and cooking appliances..
Forecasts for Crude Oil Rise to $105 on New Trading High. Just three years ago, Goldman Sachs shocked the investing world by sharply raising its oil price forecast for 2005 to an average of $50 a barrel. Two months ago, the investment bank predicted that oil prices would average $95 a barrel in 2008.
Government Buildings to Get Added Protection. The police force in charge of protecting most federal buildings, recently criticized as understaffed and demoralized, will soon add officers.
Six Flags Agrees To Help Build Park in Dubai. Six Flags, the struggling amusement-park chain controlled by Washington Redskins owner Daniel Snyder, said yesterday that it is teaming up with a Dubai developer to build a theme park in the Arab emirate as part of a huge entertainment complex.
Fed: Economy Has Weakened. WASHINGTON -- The economy has weakened since the start of this year as shoppers turned even more cautious given the severe housing slump and painful credit crunch.
Even in Victory, Clinton Team Is Battling Itself. For the bruised and bitter staff around Sen. Hillary Rodham Clinton, Tuesday's death-defying victories in the Democratic presidential primaries in Ohio and Texas proved sweet indeed. They savored their wins yesterday, plotted their next steps and indulged in a moment of optimism. "She won't be..
At Wall Street Journal, Change of Accents. Regular readers of the Wall Street Journal will notice something new in Friday's editions -- a sports page that uses content from one of the many businesses owned by Rupert Murdoch's News Corp. But that's just one of the more visible of changes Murdoch has made at the U.S. economy's paper of record..
House Democrats Want Tax Hike to Offset AMT Loss. House Democrats want to use a parliamentary maneuver to push a $70 billion tax increase through a reluctant Senate, a move intended to spare millions of taxpayers from an unpopular tax without driving up the deficit.
Contaminant Found in Heparin. The Food and Drug Administration has detected a "contaminant" in many samples of Chinese-supplied heparin that may be the cause of hundreds of severe and sometimes deadly allergic reactions to the blood-thinning drug, agency officials said yesterday.
Tribute to the Lost Border Heroes. The blue stone, bearing the names of the fallen, glistened in the steady rain as an honor guard marched across the plaza of the National Law Enforcement Officers Memorial.
How to Read the Buckeye Vote? CLEVELAND, March 5 -- Sen. Barack Obama had a simple answer for those who doubted he could expand his support beyond upper-income voters and African Americans: The more people saw of him, the better they would like him.
