Stocks soar after ECB unveils bond buying effort
2012-09-06 17:44:40 UTC
NEW YORK (AP) — Investors finally got what they wanted from the European Central Bank: a concrete plan to support struggling countries in the region by buying up large amounts of government bonds. That set off a global market rally and sent U.S. indexes to four-year highs.
The Standard & Poor'...
World stocks drop amid signs eurozone in recession
2012-08-30 12:32:34 UTC
PARIS (AP) — World stock markets slid Thursday after a survey suggested the eurozone is in recession and as a modest pickup in the U.S. dashed hopes for more stimulus from the Federal Reserve.
A successful bond sale in Italy — which eased concerns that the country's borrowing rates are spirali...
Stocks edge up after US growth revised higher
2012-08-29 21:03:56 UTC
NEW YORK (AP) — Slightly better economic growth and stronger housing sales nudged the stock market higher Wednesday. The Dow Jones industrial average managed a four-point gain.
The U.S. economy expanded at a 1.7 percent annual rate from April through June thanks to rising consumer spending and...
Japanese pachinko mogul sues Wynn Resorts in Tokyo
2012-08-29 07:47:05 UTC
TOKYO (AP) — Japanese pachinko tycoon Kazuo Okada has filed a lawsuit in Tokyo District Court seeking $140 million in damages from casino operator Wynn Resorts.
Universal Entertainment said in a statement Wednesday that it is seeking damages for harm caused to its share price and business due ...
Asian stocks listless without central bank moves
2012-08-27 06:13:02 UTC
SEOUL, South Korea (AP) — Asian markets lacked vigor Monday as the absence of action by central banks in the U.S. and China dismayed investors while Apple's court victory in a high-stakes patent dispute sent shares of Samsung Electronics into a tailspin.
After more than three weeks of trial in...
A word from Bernanke turns stocks around
2012-08-25 08:17:31 UTC
NEW YORK (AP) — The stock market keeps getting tossed around by the Fed.
Stocks opened lower Friday but reversed course after a letter surfaced from Federal Reserve Chairman Ben Bernanke suggesting there was room for the central bank to do more to help the economy.
"There is scope for furth...
Stocks down; Fed moves seem less like a sure thing
2012-08-23 18:05:00 UTC
NEW YORK (AP) — Imminent action, it seems, wasn't so imminent after all.
The stock market recovered most of its Wednesday afternoon decline after the Federal Reserve hinted that it was close to taking more action to try to prop up the economy. But Thursday morning, those gains had all disapp...
Asset sale helps Heineken 1H profit
2012-08-22 07:06:22 UTC
AMSTERDAM (AP) — Heineken NV says first half profits rose thanks to the sale of a brewery in the Dominican Republic, as higher costs ate into operating profits — but the Dutch brewer continued to grow sales and market share.
Heineken, which reports earnings twice a year, said net profit was ...
Billionaire Soros takes piece of Manchester United
2012-08-21 13:16:41 UTC
NEW YORK (AP) — Billionaire financier George Soros is getting in on the game, taking a minority stake in soccer club Manchester United.
Soros disclosed in a regulatory filing on Monday that he owns 7.85 percent of Manchester United's Class A shares. The filing with the U.S. Securities and E...
Apple sets record for company value at $623B
2012-08-21 14:31:41 UTC
NEW YORK (AP) — Apple is Wall Street's all-time MVP —that's Most Valuable Property.
On Monday, Apple's surging stock propelled the company's value to $624 billion, the world's highest, ever. It beat the record for market capitalization set by Microsoft Corp. in the heady days of the Internet b...
American Airlines' flight attendants OK contract
2012-08-20 05:20:54 UTC
DALLAS (AP) — Flight attendants at American Airlines voted to approve a new contract offer from the airline, which is seeking to cut costs in bankruptcy protection.
The results released Sunday showed attendants voted to accept the contract by 59.5 percent to 40.5 percent, according to the Asso...
Higher retail spending lifts hopes for US economy
2012-08-15 06:32:26 UTC
WASHINGTON (AP) — Americans increased their retail spending in July by the most in five months, opening their wallets after a frugal spring and offering hope that the slumping economy may rebound in the second half of the year.
Retail spending rose in every major category, from electronics and...
Higher gas prices expected after refinery fire
2012-08-10 20:10:44 UTC
SAN FRANCISCO (AP) — Analysts expect West Coast gas prices to rise beyond $4 a gallon after a fire knocked out a key section of one of the nation's largest oil refineries.
Meanwhile, the same U.S. Chemical Safety Board team that investigated the oil spill in the Gulf Of Mexico was standing by ...
A rally on Wall Street fades; Priceline tanks
2012-08-08 23:06:09 UTC
A stock market rally lost steam Wednesday after mixed earnings from U.S. companies added to fears about Europe's economic slowdown.
Several big consumer goods companies warned that weak demand in Europe was cutting into their revenue. That followed worrisome economic news from England, France ...
S&P closes over 1,400 for first time in 3 months
2012-08-07 22:30:14 UTC
NEW YORK (AP) — It was a day of milestones for the stock market.
Stronger corporate earnings reports and expectations that central banks will act to support the economy powered the Standard & Poor's 500 index past 1,400 for the first time in three months. The index rose 7.12 points to close at...
Stocks soar on surprisingly strong July job report
2012-08-04 14:25:10 UTC
NEW YORK (AP) — A surge in hiring last month got a big welcome on Wall Street Friday.
The Dow Jones industrial average surged 217.29 points to close at 13,096.17, ending a four-day losing streak. It was the best day for the Dow since June 29.
Markets had been slumping all week after central...
Russia mogul under pressure wants to sell assets
2012-08-04 14:00:35 UTC
MOSCOW (AP) — A Russian tycoon whose holdings include a leading investigative newspaper critical of the Kremlin said Friday that he wants to sell his Russian assets because of pressure from state security services.
Alexander Lebedev, worth $1.1 billion according to Forbes magazine, said the ma...
Stocks slip ahead of crucial Fed, ECB meetings
2012-07-31 20:12:36 UTC
NEW YORK (AP) — Stocks are closing lower after investors held back ahead of three critical events this week: policy meetings at both the Federal Reserve and the European Central Bank and a closely watched report on jobs in the U.S.
The Dow Jones industrial average lost 64 points to close at 13...
Facebook's stock tumbles after 1st public quarter
2012-07-27 08:59:08 UTC
NEW YORK (AP) — Facebook's first earnings report as a public company had solid numbers, but in the end it landed with a thud — much like its rocky initial public offering two months ago.
Facebook reported stronger-than-expected revenue and a gain in user numbers Thursday. But investors weren't...
Stocks soar after ECB vows to protect the euro
2012-07-26 19:32:20 UTC
NEW YORK (AP) — Stocks soared in the U.S. and Europe Thursday after the European Central Bank president vowed to "do whatever it takes" to keep the continent's monetary union intact.
The Dow Jones industrial average jumped 211 points, or 1.7 percent, to 12,887 as of 3:20 p.m., following Europe...
Japan trade deficit swells to $37B in first half
2012-07-25 08:20:50 UTC
TOKYO (AP) — Japan reported its biggest half-year trade deficit ever as exports weakened and fuel imports soared to keep the power on while most reactors are idled in the aftermath of last year's nuclear crisis.
The Ministry of Finance on Wednesday reported a 2.9 trillion yen ($37.4 billion) t...
Europe fear surges; Dow falls nearly 150
2012-07-23 17:08:44 UTC
NEW YORK (AP) — Fear that Spain may need a government bailout sent its borrowing costs soaring, the euro to a two-year low against the dollar and stocks around the world sharply lower as investors pulled back Monday from all manner of risk.
The Dow Jones industrial average was down 149 points ...
Haunted by Europe, US market can't get ahead
2012-07-22 09:15:43 UTC
NEW YORK (AP) — For the past few days, the U.S. stock market was able to forget about problems in Europe.
Friday put Europe squarely back in the spotlight.
U.S. stocks fell sharply as escalating problems in Spain jolted investors. Spain's stock market plunged 6 percent and its borrowing cos...
Concern over US economy keeps markets in check
2012-07-20 12:17:39 UTC
LONDON (AP) — Evidence that the U.S. economic recovery remains weak kept global markets in check on Friday despite continued hopes for new stimulus measures.
In late morning trading in Europe, Britain's FTSE 100 was down 0.4 percent at 5,701.05 while Germany's DAX was off 0.18 percent at 6,746...
Yahoo's 2Q earnings, revenue remain flat
2012-07-17 22:53:54 UTC
SAN FRANCISCO (AP) — Yahoo turned in another lackluster performance in the second quarter.
The results announced Tuesday underscore the challenges facing Yahoo's newly hired CEO Marissa Mayer as she tries to turn around the Internet company after a 13-year career as a top Google executive.