Finance

  • Is Europe a safe place to buy? Not exactly
    Euro-diaalnews.com 2012-05-12 16:24:40 UTC
    NEW YORK (AP) — It often pays to zig when everybody else zags. If you were brave enough to put cash into the stock market three years ago — and very few small investors were — you've doubled your money. European stocks have lost about 15 percen...
  • Irish pose next democratic test for EU austerity
    Untitled 2012-05-11 13:47:10 UTC
    DUBLIN (AP) — When voters in Greece and France got the chance, they dealt a resounding "No!" to parties backing austerity measures. The Irish could be next to give the European Union's austerity plan a black eye. A May 31 referendum here asks t...
  • EU predicts 0.3 pct eurozone contraction in 2012
    Untitled 2012-05-11 13:40:51 UTC
    BRUSSELS (AP) — The European Union estimates that the economy of the 17 countries that use the euro is in recession in the wake of a debt crisis that has prompted savage spending cuts and a jump in unemployment to record highs. The European Com...
  • Germany raises forecast for 2012 tax revenues
    German_euro_bills_and_coins 2012-05-10 20:59:37 UTC
    BERLIN (AP) — Germany says it expects its tax income over the next few years to be slightly higher than previously predicted due to a healthy job market and rising personal incomes. The Finance Ministry said Thursday that tax experts predicted ...
  • Postal Service loses $3.2B in 2nd quarter
    Gty_post_office_dm_120413_wg 2012-05-10 19:36:08 UTC
    WASHINGTON (AP) — Drowning in red ink, the U.S. Postal Service on Thursday reported a quarterly loss of $3.2 billion and blamed Congress for blocking the agency's cost-cutting efforts to offset declining mail volume and mounting costs for future r...
  • Hopes rise for Greece power-sharing talks
    539w 2012-05-10 18:29:42 UTC
    ATHENS, Greece (AP) — Hopes rose slightly Thursday that Greece could end its post-electoral deadlock without having to hold new elections, as international partners warned that Athens must stick to its hugely unpopular austerity program or abandon...
  • US deficit looms large despite April surplus
    Story 2012-05-10 18:24:31 UTC
    WASHINGTON (AP) — The U.S. government took in more money than it spent in April, the first monthly surplus in nearly four years. But that black ink won't last. The federal government is on track to exceed a $1 trillion deficit for the fourth st...
  • Aviva CEO quits after shareholder revolt on pay
    Untitled 2012-05-08 10:06:54 UTC
    LONDON (AP) - The chief executive of Aviva, Britain's largest insurer, has resigned following a shareholder revolt over executive pay, the company said Tuesday. The company gave no explanation for the decision by Andrew Moss, who had been CEO s...
  • Presidential rivals fight over France's economy
    France-economy_0 2012-05-04 18:27:46 UTC
    PARIS (AP) — When he came to power in 2007, President Nicolas Sarkozy seemed just the man to shake up France's sclerotic economy with his promises of a break from the past. However, any optimism surrounding his victory five years ago has been repl...
  • US factory orders fell in March by most in 3 years
    Factory-aircraft-435cs050212 2012-05-02 19:54:58 UTC
    WASHINGTON (AP) — Demand for U.S. factory goods dropped in March by the most in three years, driven lower by a sharp fall in volatile orders for commercial aircraft. Still, more recent data suggest the decline may be temporary. The Commerce Dep...
  • NYSE Euronext results falter on failed merger
    0-1 2012-04-30 20:53:02 UTC
    NEW YORK (AP) — The exchange operator NYSE Euronext said Monday that its first-quarter earnings tumbled 44 percent on weaker trading and its failed combination with Deutsche Boerse AG. Its shares fell nearly 6 percent in afternoon trading. C...
  • Tech exec gets 22 years prison for $30M fraud
    Mouli_cohen_portrait 2012-04-30 19:02:22 UTC
    SAN FRANCISCO (AP) — A former high-tech executive convicted of defrauding investors of at least $30 million on Monday was given one of the harshest sentences meted out in a white-collar criminal case. A federal judge in San Francisco sentenced ...
  • Italy pays higher yields in pair of bond auctions
    Mario-monti-wolfgang-scha-007 2012-04-27 20:22:01 UTC
    MILAN (AP) — Italy was forced to pay higher interest rates Friday to entice investors to buy a little under €5 billion ($6.6 billion) worth of its 5- and 10-year bonds as jitters over Europe's debt problems have resurfaced. Investors demanded y...
  • Markets brush aside more grim Spanish news
    9424dc4a0dc2c4f91304731868-943x345-1 2012-04-27 20:16:42 UTC
    LONDON (AP) — Investors brushed aside more grim Spanish financial news and lower-than-anticipated U.S. economic growth figures, helping stocks to rally at the end of what has turned out to be a solid week for markets. Over the past couple of we...
  • Why 'Sell in May' doesn't work for investors
    Untitled 2012-04-27 20:07:28 UTC
    NEW YORK (AP) — It's simple to understand, and has a nice ring to it. It's made some investors look like geniuses recently. Say it enough and you might even believe it. Too bad "Sell in May and go away" doesn't work. The idea behind the popu...
  • Stocks edge higher on Wall Street; Amazon surges
    4f9ac326aa663.image 2012-04-27 20:03:44 UTC
    NEW YORK (AP) — Stocks are trading slightly higher late Friday as investors weigh corporate profit gains against disappointing economic news. The Dow Jones industrial average rose 36 points to 13,241 at 3:45 p.m. The Standard & Poor's 500 edged...
  • A weaker first quarter doesn't mean a weak year
    539w 2012-04-27 19:39:44 UTC
    WASHINGTON (AP) — The U.S. economy grew more slowly in the first three months of this year. Governments spent less, and businesses cut back on investment. But consumers spent at the fastest pace in more than a year. The result suggests that the...
  • Senate Dems ready bill freezing student loan costs
    Untitled 2012-04-25 18:08:08 UTC
    WASHINGTON (AP) — President Barack Obama is playing politics with his push to prevent interest rates on federal student loans from increasing in an election-year effort to embarrass Republicans, the Senate's GOP leader said Wednesday. Senate Mi...
  • Oil prices decline on growing supply
    110502033054_oil_prices_640x360_16x9 2012-04-25 18:03:54 UTC
    NEW YORK (AP) — Oil prices dropped slightly on Wednesday after the government reported an increase in U.S. supplies. Benchmark West Texas Intermediate crude lost 22 cents to $103.33 per barrel in New York. Brent crude, which sets the price of o...
  • US orders for long-lasting goods plunge in March
    File2tuysy 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
    539w 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...
  • Germany's Merkel defends budget discipline drive
    4f96c01a21942.image 2012-04-24 15:55:21 UTC
    BERLIN (AP) — Germany defended its pro-austerity stance on Tuesday, with Chancellor Angela Merkel and two ministers pressing for Europe to stick with a policy of fiscal discipline in spite of the latest bout of political uncertainty. Financial ...