Economy

Why the Dems' Drive to Aid Detroit is Stalling Out

Instead of providing a new injection of funds, many Republicans believe Detroit should simply tap the $25 billion that was already appropriated earlier this year to help the companies develop more fuel-efficient technologies...

Obama, McCain pledge to work together for reform

CHICAGO -- The bitter general election campaign behind them, President-elect Barack Obama and Sen. John McCain are seeking common ground on a range of issues in hopes of engendering greater bipartisan cooperation in Washington.

India sees growth accelerating to 9 pct next year (AFP)

by Penny MacRae Penny Macrae – 10 mins ago AFP – Indian Finance minister P. Chidambaram gestures while addressing a session at the India Economic Forum … NEW DELHI (AFP) – India insisted Tuesday its economy would rebound next...

Stocks in Europe, Asia tumble

World markets drop as recession worries and financial sector woes pressure investors. Paste this link into your favorite RSS desktop reader LONDON (CNNMoney.com) -- Stocks around the world fell Tuesday as economic gloom hung...

ADB: Bond markets key source of funds for Asian countries

MANILA, Nov. 18 (Xinhua) -- Emerging Asia's local currency bond markets have shown great resilience to global credit turmoil and can be a key source of funds for Asian countries looking to finance expansionary fiscal policies,...

China oil demand weakens due to global crisis

Fuel demand in China has weakened sharply since September due to the global financial crisis, the country's biggest oil company says. China National Petroleum Corp. has suffered a "fairly big impact," its president, Jiang...

Asia stocks sink as layoffs add to gloom

Bank profits tumble around the world as are jobs slashed and bonuses cut A trader arranges his glasses at the Philippine Stock Exchange in the financial district of Makati on Tuesday. Asian stock markets sank Tuesday after Wall...

Bank fears resurface, Asia stocks sink

HONG KONG (Reuters) - Asian stocks fell by up to 5 percent on Tuesday as prospects of a deep global recession and one of the biggest job cut plans in history at Citigroup doused expectations for a financial sector recovery in...

Chinese provinces try to limit layoffs

Two Chinese provinces are trying to deter companies from laying off large numbers of workers as they struggle to limit the fallout from the global financial crisis. One of the country's richest and most developed provinces,...

Oil rebounds to near $56 (Reuters)

Reuters - Oil rose near $56 a barrel on Tuesday, rebounding from a near 22-month low on stronger U.S. industrial output data, but fears that the global economic slump was further trimming fuel demand kept a lid on gains.