A flurry of reports Thursday show the U.S. job market getting slightly better, business investment slowing down, and home sales growing at a slower pace. The mixed picture shows the number of Americans signing up for unemployment compensation fell by 23,000 last week to a total of 369,000 nationwide. An industry report shows the number […]
Report: US Job Market Gets A Little Better
Posted October 25th, 2012 at 2:35 pm (UTC-5)
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Washington Accuses Bank of America of Fraud
Posted October 24th, 2012 at 1:35 pm (UTC-5)
The U.S. government is suing the Bank of America, seeking more than one billion dollars for alleged fraud in the sale of home mortgages. The Bank of America is a private company and the second-largest bank in the United States. The bank bought Countrywide mortgage company, which is accused of selling thousands of fraudulent loans […]
Disappointing Corporate Earnings & Worries About Spain Hurt Markets
Posted October 23rd, 2012 at 4:20 pm (UTC-5)
Disappointing corporate earnings and continuing worries about Spain’s battered economy cut stock prices on key European and U.S. exchanges Tuesday. Crude oil prices also declined. France’s CAC-40 and Germany’s DAX were down more than two percent at the close, while in New York, the benchmark Dow lost more than 1.7 percent while the S&P 500 […]
Disappointing Corporate Earnings Hurt Stock and Oil Prices
Posted October 23rd, 2012 at 11:30 am (UTC-5)
Disappointing corporate earnings, and continuing worries about Spain’s battered economy cut stock prices on key European and U.S. exchanges Tuesday. Crude oil prices also declined. France’s CAC-40 and Germany’s DAX were down more than two percent in late trading. At one point during mid-day trading in New York, the Dow and the S&P 500 were […]
Spain Recession Deepens
Posted October 23rd, 2012 at 10:05 am (UTC-5)
Spain says its recession is deepening. The Bank of Spain said Tuesday that its economy shrank for the fifth straight quarter in the July-to-September period. The central bank said the country’s economic fortunes dropped four-tenths of a percent, matching the contraction in the second quarter. Job losses have mounted in Spain, with more than a […]
Russia’s Roseneft Take Control of Major Oil Venture
Posted October 22nd, 2012 at 11:50 am (UTC-5)
Russia’s state-controlled energy giant Rosneft has reached a deal to buy a competing energy company controlled by Britain’s BP and a group of Russian billionaires. Rosneft says it will pay nearly $55 billion for Russia’s third-largest oil company, TNK-BP, in a deal that will leave BP with about a 20 percent stake in the merged […]
Eurozone Leaders Praise Greek Austerity Efforts
Posted October 19th, 2012 at 9:35 am (UTC-5)
Eurozone leaders are praising the efforts of debt-ridden Greece to resolve its financial woes and resume its cost-cutting austerity. Some of the 16 other countries in the euro currency bloc have often attacked Athens for its slow pace in adopting financial reforms, even as the Greek populace has grown increasingly angry at the demands of […]
Search Engine Google Says Profits Fall
Posted October 18th, 2012 at 3:25 pm (UTC-5)
Internet search giant Google says its profits declined 20 percent in the last three months, which prompted a sharp sell-off of the company’s stock on Thursday. U.S.-based Google had planned to release its earnings report for the July-to-September period after the Nasdaq stock exchange had finished trading for the day. But the company that prints […]
Unemployment Benefit Claims Fluctuating in US
Posted October 18th, 2012 at 2:15 pm (UTC-5)
Weekly claims for unemployment compensation surged in the U.S. last week, but the government said the increase was largely the result of a seasonal correction of the data. A week ago, the government said the initial claims had fallen sharply. But Thursday, the U.S. said the number of initial applications for jobless aid jumped 46,000 […]
Wen Says Chinese Economy ‘Relatively Good’
Posted October 17th, 2012 at 1:00 pm (UTC-5)
Chinese Premier Wen Jiabao says his nation’s economy was “relatively good” in the past three months and Beijing now expects to achieve its goal of 7.5 percent growth this year. The growth of China’s economy, the world’s second largest after the United States, has been slowing over the past year and a half. But in […]
