Why Greg Smith left Goldman Sachs
2012-10-22 15:31:53 UTC
Greg Smith wrote the essay that echoed across Wall Street like a thunderclap.
Smith was a vice president at Goldman Sachs until March. He announced his departure from the investment bank with a blistering Op-Ed in The New York Times, ac...
Dow down 205 as weak earnings drag market lower
2012-10-19 21:09:55 UTC
NEW YORK (AP) — Poor corporate earnings reports pounded the stock market Friday in a sour end to an otherwise strong week of trading. The Dow Jones industrial average fell more than 200 points for its worst day in four months.
Jobless rate falls in most battleground states
2012-10-19 20:39:47 UTC
CLEVELAND (AP) — Unemployment rates fell last month in nearly all of the battleground states that will determine the presidential winner, giving President Barack Obama fresh fodder to argue that voters should stick with him in an election focused ...
Gasoline prices _ finally _ begin to slide
2012-10-18 20:21:17 UTC
NEW YORK (AP) — Gasoline prices have finally begun their seasonal slide.
Better late than never.
The national average retail price has fallen for ten straight days and is now $3.74 per gallon. That's 13 cents below the fall peak of $3.87...
First oil nears for Kazakhstan's supergiant field
2012-10-18 08:20:54 UTC
KASHAGAN OILFIELD, Kazakhstan (AP) — The manmade islands that are home to Kazakhstan's mammoth Kashagan oilfield project rise like a mirage to the boats churning through the shallow waters of the Caspian Sea.
Creating them has been a gargantuan...
China shows signs economic recovery taking shape
2012-10-18 08:13:49 UTC
BEIJING (AP) — China's worst slump since the global financial crisis leveled out in the latest quarter and retail sales picked up in a sign an economic rebound is taking shape, adding to hopes for a global recovery.
The world's second-largest e...
Earnings propel Dow to its biggest jump in a month
2012-10-17 01:01:31 UTC
Inflation is low, earnings are high, investors are happy.
Stocks shot higher Tuesday, giving the market its biggest gain in a month. Results at Mattel, Goldman Sachs, and Johnson & Johnson were all above expectations.
It was the second day o...
Tame US prices, more confident builders aid growth
2012-10-17 00:59:24 UTC
WASHINGTON (AP) — The outlook for the U.S. economy brightened a little Tuesday after reports that consumer prices stayed tame and homebuilder confidence rose to the highest level in six years.
A third report showed factory output grew only mode...
Expect small '13 Social Security benefit increase
2012-10-15 10:37:36 UTC
WASHINGTON (AP) — Social Security recipients shouldn't expect a big increase in monthly benefits come January.
Preliminary figures show the annual benefit boost will be between 1 percent and 2 percent, which would be among the lowest since auto...
German tax to finance renewable energy skyrockets
2012-10-15 10:05:51 UTC
BERLIN (AP) — Germany's tax on households' electricity bills to finance the expansion of renewable energies will rise almost 50 percent on the year as the country pushes ahead with phasing out nuclear power within a decade.
The country's fou...
FDA regulation of pharmacies has knotty history
2012-10-13 04:24:59 UTC
WASHINGTON (AP) — The deadly meningitis outbreak linked to contaminated pain injections has prompted calls for tighter federal regulation of compounding pharmacies, which have periodically been blamed for crippling and sometimes fatal injuries. Bu...
US stocks fall, headed for weekly decline
2012-10-13 04:24:46 UTC
Stocks slipped on Friday, putting Wall Street's big indexes on track for their worst week since early June.
Bank and energy stocks led the way lower after investors had a mixed reaction to earnings reports from JPMorgan Chase and Wells Fargo.
Heating costs to rise this winter as cold returns
2012-10-10 16:42:46 UTC
NEW YORK (AP) — Americans will pay more to heat their homes this winter as they feel something they didn't feel much of last year: cold.
Fuel prices will be relatively stable, but customers will have to use more energy to keep warm than they di...
Toyota recalls 7.43 million vehicles globally
2012-10-10 16:38:18 UTC
TOKYO (AP) — Toyota Motor Corp. is recalling 7.43 million vehicles in the U.S., Japan, Europe and elsewhere around the world for a faulty power-window switch — the latest, massive quality woes for Japan's top automaker.
The recall announced Wed...
Stocks slide, and investors wait for earnings
2012-10-10 03:02:44 UTC
NEW YORK (AP) — Stocks slumped Tuesday on Wall Street after the International Monetary Fund predicted weaker world economic growth and as investors waited for what they expected to be lower corporate earnings.
The Dow Jones industrial average...
Asia stocks fall on Spain, US earnings worries
2012-10-10 02:59:52 UTC
BANGKOK (AP) — Worries about Europe's debt crisis, signs of weak global growth and expectations of lower U.S. corporate earnings sent Asian stocks down on Wednesday.
Japan's Nikkei 225 index tumbled 1.7 percent to 8,625.26. Hong Kong's ...
World Bank cuts Asia growth outlook for this year
2012-10-08 08:58:04 UTC
BEIJING (AP) — The World Bank cut its growth forecast for Asia on Monday in a new sign of the impact of weakening global demand and warned China's cooling economy faces the risk of a "more pronounced slowdown."
The bank cut this year's growth o...
Asia stocks down as global growth woes intensify
2012-10-08 08:47:48 UTC
BANGKOK (AP) — Asian stocks fell Monday as Europe's debt crisis continued to roil markets and the World Bank cut its growth forecasts for Asia.
Investors were also disappointed by falling commodity prices and a mixed finish on Wall Street on Fr...
EU finance chiefs to discuss debt crisis, Greece
2012-10-08 07:05:45 UTC
LUXEMBOURG (AP) — EU finance ministers are in Luxembourg to take stock of the debt crisis before a summit of EU leaders later this month.
The 17 eurozone ministers will look Monday at Greece's budget proposals. They will hear from the troika ...
Calif. gas prices equal all-time high
2012-10-06 10:40:06 UTC
LOS ANGELES (AP) — The price of gasoline has equaled the all-time high in California of $4.61 a gallon.
AAA's Daily Fuel Gauge report released early Saturday says the average price for a gallon of regular unleaded across California rose 12 cent...
US unemployment below 8 pct, first time since 2009
2012-10-06 10:27:27 UTC
WASHINGTON (AP) — The U.S. unemployment rate dropped below 8 percent for the first time since the month President Barack Obama took office, a surprising lift for both the economy and his re-election hopes in the final weeks of the campaign.
Samsung puts quarterly profit at record high again
2012-10-05 08:41:11 UTC
SEOUL, South Korea (AP) — Samsung Electronics Co. tipped all-time high quarterly operating profit, likely driven by strong sales of high-end smartphones that offset weak semiconductor orders.
The guidance for Samsung's third quarter earnings ...
Iran tightens measures to stem currency fall
2012-10-03 16:59:08 UTC
TEHRAN, Iran (AP) — Police threatened merchants who closed their shops in Tehran's main bazaar and launched crackdowns on sidewalk money changers on Wednesday as part of a push to halt the plunge of Iran's currency, which has shed more than a thir...
Ranchers see increase in grass thefts amid drought
2012-10-03 08:34:20 UTC
VAUGHN, N.M. (AP) — Petty crime and burglaries aren't unusual in New Mexico's isolated Guadalupe County, but lately Sheriff Michael Lucero has seen thieves steal something a bit unexpected — grass.
With drought drying out grazing land and drivi...
APNewsBreak: Coke, Samsung pull Vietnam site ads
2012-10-03 08:01:45 UTC
HANOI, Vietnam (AP) — Coca-Cola and Samsung have pulled their advertising from a popular Vietnamese website notorious for providing unlicensed downloads of Western and local songs, in a rare victory against online piracy in a country where it has ...