Editor Choice

  • Greek outlines issues it wants renegotiated
    89360af8-6ef7-4d7c-8c1c-76b943ddef10 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. The poli...
  • EU countries divided on financial transaction tax
    Untitled 2012-06-22 16:32:45 UTC
    LUXEMBOURG (AP) — A plan for European Union countries to tax financial transactions and use the proceeds to fund future bank bailouts ran aground on Friday, with just nine out of 27 countries ready to support it, raising the prospect the tax will ...
  • Oil near $78 amid global economic growth worries
    Oil 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 engine stalling in Chrysler 200
    0 2012-06-22 16:14:39 UTC
    DETROIT (AP) — Federal safety regulators are investigating complaints about engine stalling in some Chrysler 200 midsize sedans. The probe includes about 87,000 of the cars from the 2011 model year that have 3.6-liter V-6 engines. The Nation...
  • Feds probe Ford Explorer power steering problems
    Bilde 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
    Untitled 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...
  • European leaders push for $163 bln in measures
    Untitled 2012-06-22 16:02:19 UTC
    ROME (AP) — The leaders of France, Germany, Italy and Spain have agreed to push for a €130 billion ($163 billion) growth package at a key European Union summit next week. Italian Premier Mario Monti told a news conference after the four-way sum...
  • Stocks plunge after weak manufacturing reports
    67c3a64f-f467-4bba-9cca-e139cd2e8ace 2012-06-21 19:55:37 UTC
    NEW YORK (AP) — A quiet start on Wall Street quickly turned into a rout Thursday as the bad news piled up. Commodity prices slumped in early trading after a report said manufacturing in China fell this month. Then, around 10 a.m., the Philadelp...
  • Survey: Asia's millionaires outnumber NAmerica's
    Hong-kong 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...
  • China defends curbs on rare earths
    Rareearthexports_main_1230 2012-06-20 06:07:17 UTC
    BEIJING (AP) — China on Wednesday defended its curbs on rare earths mining and exports amid a World Trade Organization challenge brought by the United States, Europe and Japan. The government said its controls are meant to protect the environme...
  • US stocks meander as European debt crisis festers
    7c73d0a2-414b-43da-b9bd-42bc3eff5634 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
    Untitled 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
    600_obama_speech_ap_120615 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. ...
  • Following fallout from a Greek euro exit to the US
    Following_fallout_from_a_greek_euro_exit_to_the_us 2012-06-15 08:36:26 UTC
    NEW YORK (AP) — The unthinkable suddenly looks possible. Bankers, governments and investors are starting to prepare for Greece to stop using the euro as its currency, a move that could spread turmoil throughout the global financial system. T...
  • Oil climbs on hope for Fed move; natural gas soars
    European-economy 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. Specula...
  • Asia stocks rise amid hopes for central bank help
    N0295361339730934193a 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...
  • US unemployment aid applications rise to 386K
    2de461c9cd6440ccb6d1f0f1b26f4551-d17b06ac7a2343fbbe6063f5d1abba73-2 2012-06-14 16:50:42 UTC
    WASHINGTON (AP) — More Americans sought unemployment aid last week, suggesting hiring remains sluggish. The Labor Department said Thursday that weekly unemployment benefit applications rose 6,000 to a seasonally adjusted 386,000, an increase fr...
  • UK government to announce bank reforms
    Banksummary_1995859b 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
    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...
  • Merkel firmly behind euro, but will she act?
    1360262_h_200_pd_1_w_300 2012-06-14 07:10:45 UTC
    BERLIN (AP) — Germany's Chancellor Angela Merkel has insisted repeatedly that "if the euro fails, Europe fails." Now the crisis in the 17 countries that use the euro is coming back to the boil, with Spain admitting it needs help to rescue its b...
  • US retail sales dropped 0.2 percent in May
    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
    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
    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...
  • UnitedHealth plans to keep overhaul elements
    Health_care_bill_20120406193814_640_480 2012-06-12 06:19:05 UTC
    Insurer UnitedHealth Group Inc. sees some parts of the health care overhaul as sound medicine and plans to keep them even if the law fails to survive an upcoming Supreme Court ruling. The nation's largest health insurer said Monday that it will...
  • Spain bank rescue glee morphs into markets rout
    Img_500x280_0906-spain-bank-aid-bankia-flag-rtr32tre 2012-06-12 05:52:28 UTC
    MADRID (AP) — Euphoria over a lifeline of up to €100 billion ($125 billion) to rescue Spain's hurting banks morphed into a financial markets rout in a matter of hours Monday, as investors digested the still-undefined plan and became concerned the ...