Stocks inch higher as investors await Europe news
2012-06-05 23:51:40 UTC
NEW YORK (AP) — As world leaders searched for a way out of Europe's mounting debt crisis, U.S. investors moved to the sidelines.
The major market indexes closed modestly higher, after wavering between slight gains and losses throughout the morn...
Spain offers dour prediction, but US stocks rise
2012-06-05 18:35:57 UTC
NEW YORK (AP) — As U.S. stocks struggled for direction, world finance leaders struggled for a way out of Europe's mounting debt crisis.
Major market indexes ricocheted between slight gains and losses in morning trading, then settled into modest...
US factory orders fell 0.6 percent in April
2012-06-04 16:43:36 UTC
WASHINGTON (AP) — Companies placed fewer orders to U.S. factories for the second straight month and a key measure that tracks business investment plans fell, adding to evidence that the economy is weakening.
The Commerce Department said Monday ...
Q&A: Hard times for Obama from economic recovery
2012-06-02 18:25:15 UTC
WASHINGTON (AP) — Nothing upsets a president's re-election groove like ugly economic numbers.
A spring slowdown in hiring and a rise in the unemployment rate are weighing on President Barack Obama, while enhancing Republican challenger Mitt Rom...
For US employers, 'hiring is a function of demand'
2012-06-01 17:42:40 UTC
WASHINGTON (AP) — The U.S. economy suddenly looks a lot weaker.
Only 69,000 jobs were added in May, the fewest in a year, and the unemployment rate rose from 8.1 percent to 8.2 percent.
The dismal jobs data will heighten fears that the econo...
Euro setup is unsustainable, ECB chief warns
2012-05-31 21:03:56 UTC
FRANKFURT, Germany (AP) — The setup of the 17-country euro currency union is unsustainable, the head of the European Central Bank has told EU leaders, warning they must quickly come up with a broad vision for the future to get the bloc through the...
Obama signs Ex-Im Bank bill into law
2012-05-30 17:08:10 UTC
WASHINGTON (AP) — President Barack Obama has signed legislation that renews the charter of the Export-Import Bank for three years and increases the bank?s lending cap to $140 billion from the current $100 billion. The bank is the government?s vehi...
Asia stocks fall as Spain woes intensify
2012-05-30 08:01:28 UTC
BANGKOK (AP) — Investors unnerved by Spain's worsening financial condition and a report that China has no plans for a major economic stimulus dragged Asian stock markets lower Wednesday.
Worries about Europe's financial stability worsened after...
Consumer confidence in the economy plunged in May
2012-05-29 18:17:01 UTC
NEW YORK (AP) — Here we go again.
Americans confidence in the economy suffered the biggest drop in eight months as worries about the weak jobs, housing and stock markets rattled them again. The decline comes after a few months of optimism amid ...
Spain's Bankia to ask for $24BN state aid
2012-05-25 21:21:52 UTC
MADRID (AP) — The board of directors of Spain's troubled bank, Bankia, has asked the Spanish government for €19 billion ($23.8 billion) in financial support.
Jose Ignacio Goirigolzarri, the bank's president, said late Friday that the bailout wo...
Morgan Stanley may refund some Facebook investors
2012-05-25 01:31:26 UTC
NEW YORK (AP) — Morgan Stanley, the lead investment bank in Facebook's troubled initial public offering, will compensate retail investors who overpaid when they bought Facebook's stock in Friday's IPO, according to a source familiar with the matte...
EU running out of time as Greece nears the exit
2012-05-25 01:30:53 UTC
ATHENS, Greece (AP) — European leaders insist they want to keep Greece in the eurozone, but are putting off any agreement on how they hope to accomplish that. Greece says it, too, wants to stay in the eurozone, but until after elections it's uncer...
US bank earnings rose this winter to 5-year high
2012-05-24 20:51:06 UTC
WASHINGTON (AP) — U.S. bank earnings rose in the first three months of the year to the highest level in nearly five years and the number of troubled banks fell for the fourth straight quarter.
The mostly positive first-quarter earnings released...
US sales of new homes rose 3.3 percent in April
2012-05-23 19:00:26 UTC
WASHINGTON (AP) — Americans bought more new homes last month, the latest evidence that the U.S. housing market could be starting to recover.
New-home sales increased 3.3 percent in April from March to a seasonally adjusted annual rate of 343,00...
Regulators probe bank's role in Facebook IPO
2012-05-23 04:41:24 UTC
WASHINGTON (AP) — Regulators are examining whether Morgan Stanley, the investment bank that shepherded Facebook through its highly publicized stock offering last week, selectively informed clients of an analyst's negative report about the company ...
Market breaks losing streak, with China's help
2012-05-22 00:53:56 UTC
NEW YORK (AP) — Forget Facebook. This is still Apple's stock market.
Apple — the world's most valuable company — climbed nearly 6 percent on Monday, helping propel major U.S. stock indexes to gains after a week of losses. The Standard & Poor's ...
Where are Facebook's friends? Stock down after IPO
2012-05-21 18:53:35 UTC
NEW YORK (AP) — Facebook's stock is tumbling well below its $38 IPO price in the social network's second day of trading as a public company on Monday.
By early afternoon, the stock was at $34.04, down 11 percent from Friday's closing price of $...
Europe faces difficult search for growth
2012-05-20 22:58:23 UTC
WASHINGTON (AP) — On paper at least, European leaders agree: They need stronger growth measures to help their economies expand out of their 2½-year-old government debt crisis. Figuring out exactly what those new steps might be will be the hard par...
Electric car network gets first test in Israel
2012-05-19 17:41:56 UTC
ROSH HAAYIN, Israel (AP) — Israeli entrepreneur Shai Agassi has begun rolling out the world's first nationwide electric car network. Now, will the drivers come?
After more than $400 million in outlays and months behind schedule, dozens of elect...
US stocks edge lower on Europe worries
2012-05-18 18:25:09 UTC
It's going to take more than Facebook's initial public offering to push the stock market higher.
U.S. stock indexes were flat-to-down slightly in early afternoon trading Friday. Facebook made its Wall Street debut, fashionably late, after a com...
Greek politics, Spain banks test eurozone survival
2012-05-18 17:50:09 UTC
MADRID (AP) — Chaos in Greek politics and Spanish banking combined this week to underscore just how fragile Europe's economy remains after an eviscerating austerity regime that has spawned unemployment, desperation and misery. And there is no resp...
Oil hovers below $93 after sharp 2-week sell-off
2012-05-18 05:41:51 UTC
SINGAPORE (AP) — Oil prices hovered below $93 a barrel Friday in Asia, pausing after the latest twists in Europe's debt crisis triggered a sharp two-week selloff.
Benchmark oil for June delivery was up 4 cents to $92.60 a barrel at midday Singa...
Stocks fall on Europe, worrisome economic reports
2012-05-17 17:57:19 UTC
NEW YORK (AP) — Stocks slipped Thursday after a couple of downbeat economic reports from the U.S. and unease over Europe overshadowed positive earnings from the largest American retailer and an encouraging jobs report.
The Dow Jones industrial ...
Cannes live pictures: P Diddy jets 50 friends to France
2012-05-17 17:52:26 UTC
US hip-hop legend P Diddy has arranged for 50 of his friends to be flown to the 65th Cannes Film Festival.
The glitzy annual movie event kicked off last night, with the premiere of Wes Anderson's movie Moonrise Kingdom.
Diddy has moved into ...
Oil rises above $93 as traders mull Europe turmoil
2012-05-17 03:53:39 UTC
SINGAPORE (AP) — Oil prices hovered near $93 a barrel Thursday in Asia as traders mulled whether concern over Europe's debt crisis justifies extending a sharp sell-off during the last two weeks.
Benchmark oil for June delivery was up 26 cents t...