The U.S. trade gap widened much more than expected in May as a jump in oil prices helped push imports to the second highest level on record and exports fell slightly from April's record high, a U.S. government report showed on Tuesday.
The U.S. trade shortage rose 15 percent to $50.2 billion in May, a record high since October 2008, as oil prices and imports skyrocketed according to a report release by the Commerce Department.
The U.S. trade gap widened sharply in May to its highest level in 31 months as surging oil prices helped push imports to a near record and exports fell slightly from April's record high.
Beijing will continue to put taming inflation at the top of its agenda by keeping a prudent monetary policy stance, but it will try to avoid any big swings in economic growth caused by excessive tightening, Chinese Premier Wen Jiabao said in comments published on Tuesday.
The U.S. trade gap widened much more than expected in May as a jump in oil prices helped push imports to the second highest level on record and exports fell slightly from April's record high, a U.S. government report showed on Tuesday.
Technology giants like Apple, Google, IBM, Microsoft and China Mobile lead the list of top global brands.
China said on Tuesday its crackdown on pirated goods has made great strides, a claim borne out by government statistics but not necessarily by a trip to one of Beijing's many shops where pirated software, movies and clothes are readily available.
China could begin testing its first aircraft carrier within weeks and is developing more advanced satellites Reuters reports.
To date, China has been wary of leaning heavily on interest rate rises to combat inflation. But to tackle what Beijing just called its most prominent economic problem, that's likely to change.
China's bank lending and money growth expanded faster than expected in June as loan demand remained buoyant, adding to the case for further monetary policy tightening.
The top after-market NASDAQ Stock Market gainers are: Radiant Systems, Clean Energy Fuels, Idenix Pharmaceuticals, Micromet, and Nasdaq OMX Group. The top after-market NASDAQ Stock Market losers are: Microchip Technology, Novellus Systems, China Gerui Advanced Materials Group, KLA-Tencor, and Intersil.
The hacker has built his own iPad 3 by combining old laptop parts and a touchscreen.
The Bank of Japan kept monetary policy on hold and revised up its assessment of the economy on Tuesday, encouraged by a rebound in factory output and increasing signs that the recovery from the devastating March earthquake is broadening.
Alcoa Inc, America's biggest aluminum producer, posted a big jump in second-quarter profit on Monday, matching Wall Street estimates, partly due to soaring prices for the metal and alumina, its raw material.
The Bank of Japan is expected keep monetary policy on hold and present a brighter view on the economy on Tuesday, encouraged by a rebound in factory output and increasing signs that the recovery from the devastating March earthquake is broadening.
The Chinese army has announced U.S. intervention in the ongoing dispute over sovereignty of the South China Sea may escalate tensions in the region.
Scientists have found the first superbug strain of gonorrhea -- a discovery they're calling both alarming and predictable, Reuters reported.
Starbucks Corp unveiled a reorganization on Monday that Chief Executive Howard Schultz hopes will help the coffee chain reach its goal of one day getting half of its revenue from abroad.
Starbucks Corp unveiled a reorganization on Monday that focuses the coffee chain on international expansion.
Scientists have found the first superbug strain of gonorrhea -- a discovery they're calling both alarming and predictable.
Chinese most senior military commander has criticized the U.S. for its excessive spending on defense and also blamed Washington for rising tensions in the South China Sea.
Investors' increasingly aggressive hunt for the best returns will force the global asset management industry to up the ante and become more competitive, according to research released on Monday.
