Stocks rise on stronger US housing, factory data
2012-06-27 15:51:39 UTC
U.S. stocks are trading solidly higher at midday after a two pieces of good news about the U.S. economy.
The National Association of Realtors said Wednesday that Americans signed more contracts to buy previously occupied homes in May. It was th...
Consumer confidence slipped in June
2012-06-27 08:47:58 UTC
NEW YORK (AP) — Americans can't seem to shake their uneasy feeling about the economy.
Consumer confidence fell in June for the fourth straight month as worries about jobs and the overall economy outweighed relief at the gas pump and an improvem...
Apple opens iTunes store to more Asian countries
2012-06-27 07:22:09 UTC
HONG KONG (AP) — Apple rolled out its iTunes online store to Hong Kong, Taiwan and 10 other Asian countries Wednesday in a broad push to sell music and video to more users in the company's fastest growing region.
Singapore, Macau, Malaysia, Phi...
Asia stocks down after Spain asks for bank bailout
2012-06-26 06:20:50 UTC
BANGKOK (AP) — Asian stock markets fell Tuesday, a day after Spain formally requested help to rescue its ailing banks and investors lost hope that an upcoming summit of European leaders would yield meaningful results.
Investors already worried ...
Moody's cuts debt ratings of 28 Spanish banks
2012-06-26 06:16:04 UTC
Spain's battered banks have taken another hit, this time in the form of a sweeping downgrade by Moody's.
The rating agency said that it is cutting its views on the debt issued by 28 Spanish banks, including international heavyweights Banco Sant...
Oil falls to below $79 amid EU summit doubts
2012-06-26 06:12:24 UTC
SINGAPORE (AP) — Oil fell slightly to below $79 a barrel Tuesday in Asia, taking its cue from weak global stock markets as hopes fade an EU summit will fix Europe's debt and economic problems.
Benchmark oil for August delivery was down 30 cents...
US new-home sales rose at fastest pace in 2 years
2012-06-25 20:47:19 UTC
WASHINGTON (AP) — Americans bought new homes in May at the fastest pace in more than two years. The increase suggests a modest recovery is continuing in the U.S. housing market, despite weaker job growth.
The Commerce Department said Monday tha...
Stocks head lower as Spain seeks help for banks
2012-06-25 20:43:15 UTC
NEW YORK (AP) — Europe's latest efforts to quell its financial crisis left investors exasperated, causing steep losses in stock markets on both sides of the Atlantic.
The Dow Jones industrial average dropped 138 points to close Monday at 12,503...
Survey: US gas prices drop 15 cents over 2 weeks
2012-06-24 20:04:49 UTC
CAMARILLO, Calif. (AP) — The average U.S. price of a gallon of gasoline has dropped 15 cents over the past two weeks.
That's according to the Lundberg Survey of fuel prices, released Sunday, which puts the price of a gallon of regular at $3.48....
Bank downgrades could hurt loans, credit cards
2012-06-23 18:15:18 UTC
NEW YORK (AP) — When a major bank's credit rating is cut, it deals a psychological blow — to customers, the public and financial markets.
So Thursday's downgrading of 15 of the world's largest banks is almost sure to cause wide concern. Most de...
Greek outlines issues it wants renegotiated
2012-06-23 18:03:21 UTC
ATHENS, Greece (AP) — Greece's new coalition government said Saturday it will seek to repeal some taxes, halt layoffs and extend by two years the deadlines for tough austerity measures imposed under its international bailout agreement.
Oil near $78 amid global economic growth worries
2012-06-22 16:21:55 UTC
Oil prices made small gains above $78 a barrel Friday but remained near eight-month lows after signs of slowing global economic growth triggered a sharp plunge this week.
By early afternoon in Europe, benchmark oil for August delivery was up 33...
Feds probe Ford Explorer power steering problems
2012-06-22 16:10:16 UTC
DETROIT (AP) — Federal safety regulators are investigating complaints that the power steering can fail on 2011 Ford Explorer SUVs.
Fifteen drivers have complained that the popular Explorer can suddenly lose its power steering assist, making it ...
US stocks bounce back, with banks leading the way
2012-06-22 16:05:27 UTC
NEW YORK (AP) — Banks are leading the stock market up in midday trading, a day after stocks had their second-worst loss of the year.
JPMorgan Chase and Bank of America are among the top stocks in the Dow Jones industrial average Friday. The gai...
Survey: Asia's millionaires outnumber NAmerica's
2012-06-20 06:42:23 UTC
HONG KONG (AP) — Asia's millionaires outnumbered North America's for the first time last year even as the world's wealthy saw their fortunes decline amid turbulent financial markets, a new survey says.
The Asia-Pacific region was home to 3.37 m...
US stocks meander as European debt crisis festers
2012-06-18 20:31:59 UTC
Crisis-weary investors scoffed Monday at what had appeared to be a hopeful turn in the European debt crisis: a victory for pro-Europe parties in a Greek election. U.S. stocks were little changed, and borrowing costs for Spain surged to alarming le...
Parties are worlds apart on how to fix economy
2012-06-18 20:08:04 UTC
WASHINGTON (AP) — Millions of Americans are desperate for work, runaway government spending clouds the future and Democratic and Republican candidates are busy making one thing clear: They're light years apart on what to do about it.
They do ag...
Obama, world want bold signs from Europe at G-20
2012-06-18 00:13:14 UTC
CHICAGO (AP) — With global anxiety rising, President Barack Obama is searching for bolder, swifter signals from Europe that it will contain its financial mess and keep it from torpedoing the U.S. economy and his re-election chances along with it.
Oil climbs on hope for Fed move; natural gas soars
2012-06-15 08:29:28 UTC
Hopes that the Federal Reserve will do more to support the U.S. economy drove oil to its biggest gain in two months on Thursday. Meanwhile, natural gas rose the most since January 2010 on signs of increased use of the fuel by utilities.
Asia stocks rise amid hopes for central bank help
2012-06-15 07:20:42 UTC
BANGKOK (AP) — Asian stock markets rose Friday as investors waded back into riskier assets amid hopes that central banks in the U.S. and elsewhere were gearing up for action to help their beleaguered economies.
Jobs data out of the U.S. Thursda...
UK government to announce bank reforms
2012-06-14 08:10:27 UTC
LONDON (AP) — The British government is announcing its proposals for banking reform to prevent the repeat of the crisis which forced taxpayers to bail out two major banks.
The Treasury has confirmed that the government will legislate to isolate...
Spain bond yields soar after latest downgrade
2012-06-14 08:07:04 UTC
MADRID (AP) — The yield on Spanish 10-year bonds shot up to a record 6.86 percent after a credit ratings agency downgraded the country's debt rating to just one notch above junk status.
The interest rate demanded by investors rose 15 basis poin...
US retail sales dropped 0.2 percent in May
2012-06-13 17:43:48 UTC
WASHINGTON (AP) — Americans barely increased their spending at retail businesses in April and May, constrained by weak job creation and paltry wage increases.
A sharp drop in gas prices pulled down overall sales in both months by 0.2 percent, t...
Stocks slip on Wall Street as Italy's rates soar
2012-06-13 17:38:57 UTC
NEW YORK (AP) — U.S stocks struggled for direction Wednesday, with the debt maelstrom in Europe as an ominous backdrop.
The major stock indexes opened lower, then briefly turned positive. Shortly before noon, the Dow Jones industrial average an...
JPMorgan CEO says execs may have pay taken back
2012-06-13 17:33:24 UTC
WASHINGTON (AP) — JPMorgan Chase CEO Jamie Dimon told Congress on Wednesday that senior bank executives responsible for a $2 billion trading loss will probably have some of their pay taken back by the company.
"It's likely that there will be cl...