Juncker: Greece won't leave eurozone
2012-08-18 17:01:18 UTC
BERLIN (AP) — Greece won't leave the 17-nation eurozone, Luxembourg's prime minister said, arguing in an interview published Saturday that an exit wouldn't be politically feasible and would carry unforeseeable risks.
Greece has been kept afloat...
Asia stocks retreat on gloomy economic outlook
2012-08-15 06:35:20 UTC
BANGKOK (AP) — Asian stocks fell Wednesday as recession among euro nations and slowing growth in China offset flickers of improvement in the U.S. economy.
Americans increased their retail spending in July by the most in five months, a gain of 0...
Japan's economy slows as consumer spending flags
2012-08-13 13:48:35 UTC
TOKYO (AP) — Japan's economy grew at a slower-than-expected annualized rate of 1.4 percent in April-June, adding to worries over the global outlook, as consumer spending flagged following a rebound from last year's earthquake and tsunami disasters...
How long can Spain take the financial heat?
2012-08-10 11:47:25 UTC
Imagine the interest rate on your mortgage going up and up until you can barely meet the monthly installments. How long do you hold on, scrimping and saving, before you throw in the towel?
That is the dilemma facing Spain, whose Prime Minister ...
Increasing stereotypes threaten European unity
2012-08-08 23:14:05 UTC
BRUSSELS (AP) — Maybe the problem is those southerners lolling in the Mediterranean sun who overspent and tax-dodged their way to ruin. Or maybe it's the northerners, rigid beyond reason, so gloomy in their own lives that they're determined to see...
Bank scandals tarnish London's reputation
2012-08-07 22:27:26 UTC
LONDON (AP) — It's been a tense summer in the City of London as one bank after another has faced allegations of massive misbehavior.
Bankers in the British capital, which has for centuries been a center for global business, fear its reputation ...
UK bank accused of Iran money laundering scheme
2012-08-07 00:24:41 UTC
ALBANY, N.Y. (AP) — A British bank schemed with the Iranian government to launder $250 billion from 2001 to 2007, leaving the United States' financial system "vulnerable to terrorists," New York's financial regulator charged Monday.
Monti warns euro crisis threatens EU as a whole
2012-08-05 16:36:53 UTC
BERLIN (AP) — Italy's prime minister has warned that the eurozone's sprawling debt crisis has created resentment amid the bloc's nations, which could ultimately trigger a breakup of the wider European Union.
Mario Monti told German news magazin...
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...
Economy generates 163K jobs in sign of resilience
2012-08-04 14:25:33 UTC
WASHINGTON (AP) — The U.S. economy generated jobs last month at the fastest pace since February, a sign it is resilient enough to pull out of a midyear slump and grow modestly even as the rest of the world slows down.
The 163,000 jobs employers...
Markets look for more detail from Draghi
2012-08-02 08:41:11 UTC
FRANKFURT, Germany (AP) — The head of the European Central Bank has vowed to "do whatever it takes" to save the euro. Markets want to hear more about what exactly Mario Draghi meant by that.
It's not clear how much Draghi will be able to add to...
Stocks largely up ahead of Fed meeting
2012-08-01 16:01:47 UTC
LONDON (AP) — Stocks recovered their poise Wednesday as investors awaited the Federal Reserve's latest policy statement and an announcement from the European Central Bank as to how it plans to combat Europe's debt crisis.
The consensus in the m...
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 Jone...
Stocks drift lower on Wall Street; Shaw soars
2012-07-30 16:28:38 UTC
NEW YORK (AP) — U.S. stocks drifted lower Monday, following big gains last week on expectations that European leaders would take action to calm the region's debt crisis.
The Dow Jones industrial average is down 20 points to 13,055 shortly after...
Asia stocks rise on continued hopes for ECB action
2012-07-30 05:24:06 UTC
BANGKOK (AP) — Asian stock markets rose again Monday as expectations remained high for strong European Central Bank action to stem the continent's chronic debt crisis.
Sentiment was also helped by U.S. second quarter growth not slowing as much ...
US economic growth slowed to 1.5 pct. rate in Q2
2012-07-27 19:07:26 UTC
WASHINGTON (AP) — U.S. economic growth slowed to an annual rate of just 1.5 percent from April through June, as Americans cut back sharply on spending. The weaker growth adds to worries that the economy could be stalling three years after the rece...
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 pe...
Roche profits drop on one-off costs
2012-07-26 08:04:08 UTC
GENEVA (AP) — Swiss drugmaker Roche Holding AG on Thursday posted a 17 percent drop in first-half net profit from the same period a year, but its strong sales of cancer drugs and cost-cutting contributed to a rise in core operating profits and an ...
Spain under more financial pressure
2012-07-25 08:01:30 UTC
MADRID (AP) — The financial pressure on Spain shows no signs of abating as investors demanded more to buy the country's bonds.
The yield, or interest rate, on Spain's benchmark ten-year bond has spiked 0.11 percentage point to 7.65 percent in t...
Europe shaken by fear Spain will need full bailout
2012-07-23 17:17:33 UTC
FRANKFURT, Germany (AP) — Europe is on the brink again. The crisis over too much debt in the 17 countries that use the euro flared dangerously on Monday.
Fears that Spain was next in line for a full-blown government bailout intensified followin...
Spain under more acute market pressure
2012-07-23 10:30:09 UTC
MADRID (AP) — The financial pressure on recession-hit Spain ratcheted up further Monday to levels that saw other European countries need a financial bailout.
The yield on Spain's benchmark ten-year bond spiked 0.23 percentage points to 7.46 per...
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 st...
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...
US economic data add to signs of slowing recovery
2012-07-19 21:20:37 UTC
WASHINGTON (AP) — A raft of economic news Thursday sketched a picture of a weakening U.S. economy held back by sluggish home buying and factory production.
Americans bought fewer homes in June than in May. Manufacturing in the Federal Reserve's...
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 aft...