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Consumer cutbacks could lead to falling prices, suffocating investment and worsening joblessness for months.
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The agency forecasts world economic growth to slow to 3.9% this year and to decelerate further to 3% in 2009, marking the worst showing since 2002. The world economy will slow sharply this year and next, with the United States probably sliding into recession, reflecting mounting damage from the most dangerous financial jolt in more than half a century.
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Wall Street shares fall sharply in early trading amid fears of an economic slowdown.
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Wall Street prompts speculation from adversaries and allies about an end to U.S. economic primacy.
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Iraqi stock market is up 25 percent this year.
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The world’s second-largest economy, which had seemed immune from the global financial contagion, is suddenly looking a lot more vulnerable.
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China will keep reasonably robust economic growth despite the ongoing international economic recession, according to Merrill Lynch analysts in Beijing on Tuesday. "As part of the world economy, China certainly would be affected by the current financial crisis," said Liu
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Commenting on today's Government figures that show unemployment has risen by 28,000 between June and August to 200,000 Liberal Democrat Shadow Secretary for Work and Pensions, Jenny Willott MP, said:
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The president was expected to announce plans for a meeting of world leaders to discuss the response to the financial crisis.
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Yukon Premier Dennis Fentie says the territory's economy remains sound, in spite of troubled financial markets around the world.
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SHANGHAI, China (AP) -- The laid-off factory workers and slumping car sales indicated China's booming economy was not immune to the global meltdown. New figures confirm it: China's economy is still growing, but at the slowest pace in five years....
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Stocks fell around the world, the euro sank to a 20-month low against the dollar and oil retreated as the deepening economic slump sapped corporate profit.
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HONG KONG (Reuters) - Asian stocks fell to a 4-year low on Thursday on growing fears a global recession would depress corporate earnings, while the dollar rose to a 2-year high against the euro, underpinned by the unwinding of risky trades.
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The economy shrank for the first time in 16 years between July and September, confirming the UK is on the brink of recession.
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Some governments in East Africa are stockpiling business capacity in anticipation of the four submarine cables that are expected to bring unprecedented connectivity options and related business opportunities to the region, according to a study by IDC.
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Forget about love and the politics of hope — the fear factor trumps them every time. Sens. Barack Obama and John McCain both confounded expectations to win their parties' presidential nominations on the politics of hope, consensus and a bright new future without the mudslinging of the past.
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Asian and European leaders met Saturday for the second day of their biennial summit after calling for new rules for the world's financial system and a larger role for the International Monetary Fund.
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Sony's operating profit plunged 90pc in the second quarter hit by a surging yen a weak global economy and intense price competition.
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Gordon Brown calls for an international approach to the downturn, after meeting Germany's Angela Merkel.
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Consumer cutbacks could lead to falling prices, suffocating fresh investment and worsening joblessness for months or even years, economists say.
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The new worry is that the end of inflation may be the beginning of something more malevolent for the global economy.
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In part two of his look at the economic challenges that face the new US President James Quinn looks at the problems facing Main Street.
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When the ghosts and goblins have got you down, take a look at some good news.
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By Francis M. Bator Shoring up lenders, unclogging lending, even direct action to limit the slide in house prices, will no longer suffice to prevent a severe recession. Only public or private spending on output will prevent spiralling cutbacks in production, jobs and incomes. Action to boost spending should be temporary, phased out as the economy recovers. [...]
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The Beijing government knew how to fight its last big slowdown: Spend big on infrastructure. Its solution this time won't be so simple, and we all have a lot at stake.
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Europe drafted the template for bailing out banks, but for the broader economy, what happens in the United States - Europe's biggest customer - is key.
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The South African Reserve Bank's Monetary Policy Review (MPR), released on Tuesday highlighted that price increases in food and oil, coupled with a fluctuating exchange rate has dominated the economy in 2008.
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Interbank lending markets have been in crisis since the bankruptcy of US investment bank Lehman Brothers in mid-September, though barometers of financial stress have moved off their peak levels over the past week.
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CLARKSVILLE, Tenn. -- Sometimes Tim Wells felt like the only man left on his street.
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Five winners of the Nobel Prize for economics share their views on what the future global finance order should look like in exclusive essays for SPIEGEL.
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US taxpayers, who feel they own a stake in Wall Street after funding a $700bn (€560bn) bailout for the industry, don't want executives' bonuses reduced. They want them eliminated.
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There is a strong case for enlarging the Financial Stability Forum and this must be translated into action soon, writes Mario Draghi
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Leaders from 20 countries meet to discuss the financial crisis and regulation.
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World leaders battling a historic economic crisis agreed Saturday to flag risky investing and regulatory weak spots in hopes of avoiding future financial meltdowns.
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The Group of 20 is piling the pressure on the World Trade Organisation to resume the Doha round of world trade talks as more ammunition is thrown at the global economy.
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Letter from Victor Yushchenko to The Financial Times
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Consumer prices fell in October by 1 percent, the largest drop in the history of the survey, raising the specter of deflation.
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The world's central bankers need to do more than ever before if the global economy is to avoid a repeat to the current financial debacle, said the governor of the Bank of Canada Wednesday.
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A growing fear of economic deflation helped take the air out of the stock market Wednesday, and another white-knuckle final hour on Wall Street pushed the Dow Jones industrials under 8,000 to their lowest close since the financial meltdown began.
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