After 4-month surge, gas prices start falling
2012-04-21 06:21:56 UTC
NEW YORK (AP) — The worst appears to be over. Gasoline prices are going down.
After a four-month surge pushed gasoline to nearly $4 per gallon in early April, drivers, politicians and economists worried that prices might soar past all-time highs, denting wallets, angering voters and dragging d...
IMF moves to calm market fears over European debt
2012-04-21 20:55:10 UTC
WASHINGTON (AP) — An infusion of hundreds of billions of dollars will give the International Monetary Fund a badly needed boost to tackle Europe's prolonged debt crisis. But global finance officials sent a strong message Saturday that struggling governments must speed reforms or risk spooking jit...
Internet advertising climbs to $31 billion in 2011
2012-04-18 17:04:36 UTC
(Reuters) - Internet advertising revenue in the United States jumped 22 percent to $31 billion in 2011 setting a record high.
The bulk of last year's spend went to search and display advertising, according to a report from the Interactive Advertising Bureau an...
IMF inches toward deal on boosting bailout funds
2012-04-17 23:17:55 UTC
WASHINGTON (Reuters) - The International Monetary Fund appeared to be inching toward a deal on increasing its financial firepower on Tuesday, with Japan, Sweden and Denmark committing a total of $77 billion to help contain the euro zone's debt crisis.
The pledges were made ahead of meetings of...
Yahoo shows signs of life, Alibaba in the cards again
2012-04-17 23:07:36 UTC
SAN FRANCISCO (Reuters) - Yahoo Inc reported an uptick in revenue that marked its first quarterly sales growth in three years, as new Chief Executive Scott Thompson spearheads the latest attempt to revamp the struggling Web company.
Thompson told analysts on a conference call that Yahoo was on...
Analysis: Marine insurance: the stranglehold on Iran?
2012-04-17 08:07:37 UTC
HONG KONG/TOKYO (Reuters) - Marine insurance, or lack of it, may yet turn out to be the most effective sanction used by Western nations in 17 years of tightening the screws on Iran's nuclear program.
A European Union oil embargo on Iran, set to take effect in July, prohibits EU insurers from c...
Japan vows $60 billion to boost IMF firepower
2012-04-17 05:50:19 UTC
TOKYO (Reuters) - Japan said on Tuesday it will provide $60 billion in loans to the International Monetary Fund, becoming the first non-European nation to commit money to boost the fund's financial firepower to contain the euro zone debt crisis.
Finance Minister Jun Azumi said Japan hoped Toky...
World Bank picks health expert Kim as president
2012-04-17 00:33:07 UTC
WASHINGTON (Reuters) - The World Bank on Monday chose Korean-born American health expert Jim Yong Kim as its new president, maintaining Washington's grip on the job and leaving developing countries frustrated with the selection process.
Kim, a physician and anthropologist who makes for a somew...
China stocks czar faces battle to win back investor trust
2012-04-15 20:56:02 UTC
SHANGHAI (Reuters) - In little over six months as China's top securities watchdog, Guo Shuqing has let loose a flurry of reforms targeting insider trading, market manipulation and dodgy disclosure that have hamstrung China's stock markets even as its economy surges.
But China's more than 72 mi...
U.S. politics clash with reality over China currency
2012-04-13 22:39:50 UTC
WASHINGTON (Reuters) - The United States was keeping a wary eye on North Korea after the reclusive state's unsuccessful launch of a long-range rocket, and President Barack Obama said on Friday that Pyongyang faced further isolation if it kept defying the international community.
The White Hous...
Colombia's Ocampo withdraws from World Bank challenge
2012-04-13 22:07:04 UTC
WASHINGTON (Reuters) - Former Colombian finance minister Jose Antonio Ocampo said Friday he was withdrawing his candidacy for World Bank president to allow developing nations to rally behind a single nominee to challenge the United States for the job.
Ocampo said Nigerian Finance Minister Ngoz...
GM Uzbekistan 22 per cent decrease in car sales in Russia
2012-04-13 17:18:37 UTC
GM Uzbekistan JV sold 14,092 cars in Russia in January-March 2012, or 22.4 per cent less compared to the same period of 2011, the Automobile Manufacturers Committee of the Association of European Businesses said on Wednesday.
In particular, 8441 Nexia cars (a 21.9 per cent decline compared to ...
Ocampo to withdraw from World Bank race:sources
2012-04-13 16:25:25 UTC
WASHINGTON/BRASILIA (Reuters) - Former Colombian finance minister Jose Antonio Ocampo is set to withdraw his nomination for the World Bank presidency on Friday in an agreement among emerging and developing countries to coalesce around one nominee, three sources said.
Nigerian Finance Minister ...
Big banks face $638 billion shortfall on new rules
2012-04-12 17:04:33 UTC
LONDON/ZURICH (Reuters) - The world's biggest banks would have needed to find more than $600 billion if tough new capital rules to be phased in from 2013 had been in place last year.
The Basel Committee of global regulators said if the new rules, known as Basel III, had been in force at the mi...
Roche Q1 sales solid as Illumina bid battle rages
2012-04-12 16:19:40 UTC
ZURICH (Reuters) - Swiss drugmaker Roche said it would have to rethink its tactics if shareholders of reluctant U.S. bid target Illumina did not back its approach as it reported strong first-quarter pharmaceutical sales helped by top cancer drugs.
Genetics specialist Illumina has rejected Roch...
Stronger demand in Europe boosts global PC demand
2012-04-11 22:15:18 UTC
(Reuters) - Global PC shipments increased in the first quarter of 2012 as demand in Europe, Middle East and Africa was stronger than forecast on the back of robust demand by business, according to the research firm Gartner.
The results exceeded Gartner's earlier projections of a 1.2 percent de...
Algeria's frosty business climate may thaw
2012-04-11 17:09:37 UTC
ALGIERS (Reuters) - After a three-year campaign against one of its biggest foreign investors chilled Algeria's business climate, the country is sending out tentative signals that it may be ready for a thaw.
A period of aggressive economic nationalism, symbolized by the state's drive to take co...
Treasury bond prices drop as investors take profits
2012-04-11 16:39:51 UTC
NEW YORK (Reuters) - Treasury debt prices fell on Wednesday as investors took profits on the previous day's gains and worked to cheapen prices ahead of a debt sale later in the afternoon.
Investors were also taking cues from weaker European debt prices, while strength in U.S. stocks undermined...
Wireless carriers to create database to fight phone theft
2012-04-10 05:15:39 UTC
WASHINGTON (Reuters) - Wireless carriers representing 90 percent of subscribers will on Tuesday announce the creation of a database of unique cell phone IDs to help prevent theft and reactivation of stolen or lost devices, which often contain sensitive personal data.
The shared database will b...
Doctors seek end to 5 cancer tests, treatments
2012-04-10 04:39:28 UTC
NEW YORK (Reuters) - The nation's leading association of cancer physicians urged doctors to stop offering five common tests and treatments for cancer patients, a move that threatens to further inflame concerns about the rationing of medical care.
The recommendations emerged from a two-year eff...
Anti-poverty group ONE pushes for G8 food deal
2012-04-10 04:08:02 UTC
OKLAHOMA CITY (Reuters) - Two white men accused of shooting five black people in Tulsa, Oklahoma, killing three of them, have confessed to authorities, media reports said on Monday, citing police and court documents.
Jake England, 19, has admitted to police that he shot three of the victims an...
Iran confirms oil exports’ drop
2012-04-10 03:21:08 UTC
Iranian oil ministry's official confirmed oil exports' decline because of the West sanctions over Iranian oil purchase and banking system.
Director of international affairs for the National Iranian Oil Company, Mohsen Ghamsari, told Iranian Shargh Daily News that Japan practically decreased Ir...
Skilled-Worker Visas See a Surge in Demand
2012-04-10 03:06:49 UTC
Wall Street Journal- In a sign of the improving economy, the U.S. government saw a sharp rise in petitions for skilled-foreign-worker visas during the first week of this year's application season.
The U.S. Citizenship and Immigration Services has received 25,600 petitions for H-1B visas since Ap...
Is high spending on cancer care 'worth it'?
2012-04-09 20:08:13 UTC
NEW YORK (Reuters) - With the United States spending more on healthcare than any other country — $2.5 trillion, or just over $8,000 per capita, in 2009 — the question has long been, is it worth it? At least for spending on cancer, a controversial new study answers with an emphatic "yes."
Global business groups press India on technology plan
2012-04-09 19:56:28 UTC
WASHINGTON (Reuters) - Global business groups urged Indian Prime Minister Manmohan Singh on Monday to rescind new government rules for technology purchases that they said unfairly discriminate against foreign firms and potentially violate World Trade Organization rules.
The letter is the secon...