Economy

GDP revisions are coming out on July 31st right in the middle of Q2 earnings reports and before many banks get to report. These revisions could be significant according to Merrill Lynch economist David Rosenberg.As the revisions come…

The FT reports:The eurozone economy has shown fresh signs of spluttering, with German industrial production dropping unexpectedly sharply in May - the strongest monthly fall since August 1997.-FT, 7 Jul 2008This is the latest sign in a…

Below are the latest writedown stories from the web. For the full timeline of news, visit my credit crisis timeline.2008 06 23 Citigroup and Goldman Sachs cut more staff as effect of credit crunch lingers2008 06 26 Fortis launches urgent…

$1.6 trillion! This is the figure that a Bridgewater Associates study has come up with. I caught this article when I was looking for the original German-language version of a story that MarketWatch exposed regarding the Swiss banks' need…

This is a big story coming from the Swiss German-language paper Sonntagszeitung. I originally saw this story in a derivative report from MarketWatch and then again at Calculated Risk. It's not getting enough play as yet in the…

This is a story about how the ECB move affects individuals. As much as I support the ECB rate hike, one has to remember that real people are very much affected by these policy decisions. This is what makes these decisions difficult.

Recession worries at the heart of Europe deepened as it was revealed that factory orders in Germany declined unexpectedly for the sixth straight month. With inflation and interest rates rising, it seems rather unlikely that Germany can…

UBS has announced that it expects further massive hits from the credit crisis and subprime meltdown to affect its quarterly earnings to be released soon. However, after raising a huge amount of equity capital, the company is…

I have said that the Fed is dovish and wants inflation to do its job of reducing the economic burden of the massive debt in the United States. Fed Governor William Poole, who just recently left the Fed, has apparently confirmed this. See…

Ontario's economy shrank last quarter with GDP adjusted for inflation declining by 0.3%. With the largest economy in Canada in tatters, the mining boom in Alberta and BC is ever more important.From the Globe & Mail:Ontario's economic…