US orders for long-lasting goods plunge in March
2012-04-25 17:37:52 UTC
WASHINGTON (AP) — Orders for long-lasting factory goods fell by the largest amount in three years last month, mostly because demand for commercial aircraft plummeted. But companies also ordered less machinery and other equipment, a sign manufactur...
Fed: Economy growing moderately; no policy changes
2012-04-25 17:24:48 UTC
WASHINGTON (AP) — The Federal Reserve says the economy is growing moderately while cautioning that risks from Europe remain. It's holding off on taking any further steps to boost the recovery.
In a statement after a two-day meeting, the Fed sai...
Sales of handset arm lifts Sweden's Ericsson in QI
2012-04-25 07:47:09 UTC
STOCKHOLM (AP) — LM Ericsson, the world-leading wireless equipment maker in terms of market share, saw its first quarter profits more than double, largely on the back of proceeds made from the sale of its stake in handset maker Sony Ericsson.
Poor economy worsens Social Security's finances
2012-04-23 18:42:41 UTC
WASHINGTON (AP) — High energy prices and an economy that has been slow to rebound are worsening Social Security's finances, shortening the life of the trust funds that support program by three years, the government said Monday.
Those trust fund...
Oil little changed, investors weigh global economy
2013-01-18 20:16:30 UTC
NEW YORK (AP) — The price of oil remained at a four-month high Friday after new data showed China's economy rebounded and a global demand forecast rose.
Benchmark oil for February delivery rose 7 cents to finish at $95.56 per barrel on the ...
After 4-month surge, gas prices start falling
2012-04-21 06:21:56 UTC
NEW YORK (AP) — The worst appears to be over. Gasoline prices are going down.
After a four-month surge pushed gasoline to nearly $4 per gallon in early April, drivers, politicians and economists worried that prices might soar past all-time high...
IMF moves to calm market fears over European debt
2012-04-21 20:55:10 UTC
WASHINGTON (AP) — An infusion of hundreds of billions of dollars will give the International Monetary Fund a badly needed boost to tackle Europe's prolonged debt crisis. But global finance officials sent a strong message Saturday that struggling g...
Internet advertising climbs to $31 billion in 2011
2012-04-18 17:04:36 UTC
(Reuters) - Internet advertising revenue in the United States jumped 22 percent to $31 billion in 2011 setting a record high.
The bulk of last year's spend went to search and display advertising, according to a...
IMF inches toward deal on boosting bailout funds
2012-04-17 23:17:55 UTC
WASHINGTON (Reuters) - The International Monetary Fund appeared to be inching toward a deal on increasing its financial firepower on Tuesday, with Japan, Sweden and Denmark committing a total of $77 billion to help contain the euro zone's debt cri...
Yahoo shows signs of life, Alibaba in the cards again
2012-04-17 23:07:36 UTC
SAN FRANCISCO (Reuters) - Yahoo Inc reported an uptick in revenue that marked its first quarterly sales growth in three years, as new Chief Executive Scott Thompson spearheads the latest attempt to revamp the struggling Web company.
Analysis: Marine insurance: the stranglehold on Iran?
2012-04-17 08:07:37 UTC
HONG KONG/TOKYO (Reuters) - Marine insurance, or lack of it, may yet turn out to be the most effective sanction used by Western nations in 17 years of tightening the screws on Iran's nuclear program.
A European Union oil embargo on Iran, set to...
Japan vows $60 billion to boost IMF firepower
2012-04-17 05:50:19 UTC
TOKYO (Reuters) - Japan said on Tuesday it will provide $60 billion in loans to the International Monetary Fund, becoming the first non-European nation to commit money to boost the fund's financial firepower to contain the euro zone debt crisis.
World Bank picks health expert Kim as president
2012-04-17 00:33:07 UTC
WASHINGTON (Reuters) - The World Bank on Monday chose Korean-born American health expert Jim Yong Kim as its new president, maintaining Washington's grip on the job and leaving developing countries frustrated with the selection process.
Kim, a ...
China stocks czar faces battle to win back investor trust
2012-04-15 20:56:02 UTC
SHANGHAI (Reuters) - In little over six months as China's top securities watchdog, Guo Shuqing has let loose a flurry of reforms targeting insider trading, market manipulation and dodgy disclosure that have hamstrung China's stock markets even as ...
U.S. politics clash with reality over China currency
2012-04-13 22:39:50 UTC
WASHINGTON (Reuters) - The United States was keeping a wary eye on North Korea after the reclusive state's unsuccessful launch of a long-range rocket, and President Barack Obama said on Friday that Pyongyang faced further isolation if it kept defy...
Colombia's Ocampo withdraws from World Bank challenge
2012-04-13 22:07:04 UTC
WASHINGTON (Reuters) - Former Colombian finance minister Jose Antonio Ocampo said Friday he was withdrawing his candidacy for World Bank president to allow developing nations to rally behind a single nominee to challenge the United States for the ...
GM Uzbekistan 22 per cent decrease in car sales in Russia
2012-04-13 17:18:37 UTC
GM Uzbekistan JV sold 14,092 cars in Russia in January-March 2012, or 22.4 per cent less compared to the same period of 2011, the Automobile Manufacturers Committee of the Association of European Businesses said on Wednesday.
In particular, 844...
Ocampo to withdraw from World Bank race:sources
2012-04-13 16:25:25 UTC
WASHINGTON/BRASILIA (Reuters) - Former Colombian finance minister Jose Antonio Ocampo is set to withdraw his nomination for the World Bank presidency on Friday in an agreement among emerging and developing countries to coalesce around one nominee,...
Big banks face $638 billion shortfall on new rules
2012-04-12 17:04:33 UTC
LONDON/ZURICH (Reuters) - The world's biggest banks would have needed to find more than $600 billion if tough new capital rules to be phased in from 2013 had been in place last year.
The Basel Committee of global regulators said if the new rule...
Roche Q1 sales solid as Illumina bid battle rages
2012-04-12 16:19:40 UTC
ZURICH (Reuters) - Swiss drugmaker Roche said it would have to rethink its tactics if shareholders of reluctant U.S. bid target Illumina did not back its approach as it reported strong first-quarter pharmaceutical sales helped by top cancer drugs....
Stronger demand in Europe boosts global PC demand
2012-04-11 22:15:18 UTC
(Reuters) - Global PC shipments increased in the first quarter of 2012 as demand in Europe, Middle East and Africa was stronger than forecast on the back of robust demand by business, according to the research firm Gartner.
The results exceeded...
Algeria's frosty business climate may thaw
2012-04-11 17:09:37 UTC
ALGIERS (Reuters) - After a three-year campaign against one of its biggest foreign investors chilled Algeria's business climate, the country is sending out tentative signals that it may be ready for a thaw.
A period of aggressive economic natio...
Treasury bond prices drop as investors take profits
2012-04-11 16:39:51 UTC
NEW YORK (Reuters) - Treasury debt prices fell on Wednesday as investors took profits on the previous day's gains and worked to cheapen prices ahead of a debt sale later in the afternoon.
Investors were also taking cues from weaker European deb...
Wireless carriers to create database to fight phone theft
2012-04-10 05:15:39 UTC
WASHINGTON (Reuters) - Wireless carriers representing 90 percent of subscribers will on Tuesday announce the creation of a database of unique cell phone IDs to help prevent theft and reactivation of stolen or lost devices, which often contain sens...
Doctors seek end to 5 cancer tests, treatments
2012-04-10 04:39:28 UTC
NEW YORK (Reuters) - The nation's leading association of cancer physicians urged doctors to stop offering five common tests and treatments for cancer patients, a move that threatens to further inflame concerns about the rationing of medical care.