Cheaper gas drives US wholesale price index lower
2012-05-11 13:21:42 UTC
WASHINGTON (AP) — A big decline in gas and energy costs drove a measure of U.S. wholesale prices lower in April. But outside that drop, inflation was tame.
The Labor Department said Friday that the producer price index, which measures price cha...
Bank stocks hurt after surprise $2B JPMorgan loss
2012-05-11 13:13:54 UTC
Bank stocks were hammered in Britain and the United States on Friday, partly because of fear that a surprise $2 billion trading loss by JPMorgan Chase would lead to tougher regulation of financial institutions.
In Britain, shares of Barclays an...
Oil rises after China trade exceeds expectations
2013-02-08 06:47:16 UTC
BANGKOK (AP) — Oil prices rose above $96 a barrel Friday after China reported better-than-expected monthly trade data, a sign that its economic recovery is gaining traction.
Benchmark oil for March delivery was up 25 cents to $96.08 at...
Cattle prices jump as ranchers begins rebuilding
2012-05-09 15:07:51 UTC
FRANKSTON, Texas (AP) — A cow runs circles in a small pen, her baby close by her side. Ranchers, their brows wrinkled, scribble in a glossy catalog while high on a podium the auctioneer slams his gavel, taking bids as the price of the pair rises r...
Gas price likely won't set record this summer
2012-05-09 07:19:41 UTC
NEW YORK (AP) — Gasoline prices likely won't set any records this summer, thanks to a recent drop in the price of oil.
The government on Tuesday slashed its forecast for average gas prices to $3.79 per gallon for the summer driving season. That...
AP-World-Markets/588 Asia stocks fall amid Greek political chaos
2012-05-09 07:12:32 UTC
BANGKOK (AP) — Asian stock markets fell Wednesday, spooked by disappointing U.S. corporate earnings and fears that political turmoil in debt-crippled Greece is pushing it closer to financial disaster.
Japan's Nikkei 225 index fell 1.5 percent t...
Oil price drops to lowest point of 2012
2012-05-07 17:51:03 UTC
NEW YORK (AP) — The price of oil dropped Monday to its lowest level of the year after elections in Europe created uncertainty over the region's plan for recovery.
In afternoon trading, benchmark U.S. crude lost $1.10 to $97.39 per barrel in New...
US stocks under pressure after European elections
2012-05-07 15:49:25 UTC
NEW YORK (AP) — U.S. stocks are under pressure after angry voters in Greece and France rejected painful budget cuts demanded by international lenders.
Investors are uncertain over how the results will affect Europe's plans to rein in spending a...
Markets could stumble after France, Greece votes
2012-05-07 00:26:27 UTC
WASHINGTON (AP) — Financial markets will likely stumble this week after elections in Greece and France cast a pall of uncertainty over Europe's efforts to solve its debt crisis.
On Sunday night, the euro plunged to $1.2988, a nearly five-month ...
Yahoo CEO faces calls for ouster after inaccuracy
2012-05-05 07:57:57 UTC
SAN FRANCISCO (AP) — Scott Thompson's reign as Yahoo's CEO is in jeopardy after just four months on the job because he allowed an inaccuracy about his academic credentials to recur for years.
A major Yahoo shareholder who exposed the fabricatio...
Asia stocks slip on weakness in US retail sales
2012-05-04 06:30:49 UTC
BANGKOK (AP) — Asian stock markets were mostly lower Friday after disappointing U.S. retail sales stirred concerns about the robustness of the recovery in the world's No. 1 economy.
Major retailers such as Costco and Macy's reported that April ...
April retail sales worst since 2009
2012-05-03 18:22:23 UTC
NEW YORK (AP) — Americans' spending — much like the economy — continues to yo-yo.
Major retailers such as Costco and Macy's reported on Thursday that April revenue rose less that 1 percent in the worst performance since 2009 when the U.S. econo...
Oil price falls on concerns about global economy
2012-05-02 19:48:54 UTC
NEW YORK (AP) — Oil prices fell Wednesday on concerns of a weakening European economy and disappointing job growth in the U.S.
Benchmark West Texas Intermediate crude gave up 86 cents to $105.30 per barrel in New York. Brent crude, which helps ...
Eurozone unemployment hits record high
2012-05-02 19:24:02 UTC
LONDON (AP) — Pressure is growing on Europe's leaders to focus less on austerity and more on stimulating growth as the 17 countries that use the euro face record high unemployment and a recession that is spreading across the region.
Oil near $102 on Egypt protests, US demand outlook
2013-07-03 07:09:49 UTC
BANGKOK (AP) — The price of oil neared $102 a barrel Wednesday for the first time since May last year as Egypt's political crisis intensified, raising the risk of fuel supply disruptions.
Benchmark crude for August delivery was up $2.07 to $101...
Natural gas prices up 5 pct. on production report
2012-04-30 20:56:35 UTC
NEW YORK (AP) — The price of natural gas jumped by nearly 5 percent Monday after government data showed that producers are making good on promises to cut supplies.
Chesapeake Energy Corp., ConocoPhillips and Encana Corp. have each said that the...
Energy Transfer Partners to buy Sunoco for $5.3B
2012-04-30 20:29:35 UTC
NEW YORK (AP) — Energy Transfer Partners is buying Sunoco in a $5.3 billion deal that creates one of the more diverse pipeline companies in the country.
The acquisition includes nearly 8,000 miles of pipeline, as well as 4,900 gas stations in 2...
US consumer spending slowed in March, income rose
2012-04-30 20:11:08 UTC
WASHINGTON (AP) — Americans increased their spending more slowly in March, suggesting some are worried that their paychecks aren't growing fast enough.
The Commerce Department said Monday that consumer spending increased just 0.3 percent last m...
Asia stocks rise on hopes of new Fed stimulus move
2012-04-30 05:13:57 UTC
BANGKOK (AP) — Asian stock markets rose Monday in holiday-thinned trade as sluggish U.S. growth figures boosted hopes for more measures from the Federal Reserve to help the world's No. 1 economy.
South Korea's Kospi added 0.2 percent to 1,980.2...
UK's Cameron: No pact with Murdoch over takeover
2012-04-29 18:43:37 UTC
LONDON (AP) — Prime Minister David Cameron acknowledged Sunday that he wooed Rupert Murdoch as he attempted to win power in Britain, but insisted he never struck a tit-for-tat deal to support the media mogul's business dealings in return for favor...
Natural gas prices rise; oil declines slightly
2012-04-27 15:59:12 UTC
Natural gas is rising as cooler weather and production cuts are raising expectations that demand may improve.
Natural gas rose 2.1 cents to $2.147 per 1,000 cubic feet Friday in early trading. Last week the price dropped to the lowest level in ...
Gasoline prices continue to creep lower
2012-04-26 20:16:08 UTC
NEW YORK (AP) — Retail gasoline prices continued their surprising spring slide Thursday, dropping a penny to $3.83 per gallon.
It's the 10th straight day of declines for the national average retail price. Pump prices are 4 cents lower than they...
APNewsBreak: Burger King makes cage-free promise
2012-04-25 17:58:14 UTC
The movement by U.S. food corporations toward more humane treatment of animals experienced a whopper of a shift Wednesday when Burger King announced that all of its eggs and pork will come from cage-free chickens and pigs by 2017.
The decision ...
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...
US stocks slide on economic tremors from Europe
2012-04-23 14:09:55 UTC
NEW YORK (AP) — Stocks are opening sharply lower with new worries about Europe's health.
Reports out of Europe Monday showed government debt continues to pile up despite severe budget cuts that have led to unrest across the continent.