The number of U.S. workers filing claims for jobless aid fell modestly last week as the labor market recovery struggled for momentum, while a slip in exports in April supported views of moderate economic growth.
The president of Goldman Sachs Group Inc said on Thursday that there is no indication that the investment bank is close to settling U.S. fraud charges with the Securities and Exchange Commission.
U.S. lawmakers tasked with hammering out a final version of financial-reform legislation will use as a starting point a bill that combines mortgage reforms passed by the House and the Senate, according to a summary obtained by Reuters.
Banks were under intense political pressure as a U.S. congressional panel negotiating a final Wall Street reform bill convened its first meeting on Thursday.
Securities regulators approved new so-called circuit breakers on Thursday in an attempt to prevent a repeat of the still-unexplained May 6 stock market drop.
The number of U.S. workers filing claims for jobless aid fell modestly last week as the labor market recovery struggled for momentum, while a slip in exports in April supported views of moderate economic growth.
China's exports jumped in May, reassuring investors about the economy's strength but putting pressure on U.S. President Barack Obama to placate critics who say Beijing is keeping the yuan unfairly undervalued.
The Dow and S&P climbed more than 2 percent on Thursday, with the Nasdaq not far behind as China's confirmation of strong export data relieved recovery concerns and helped lift the euro.
AT&T Inc said on Wednesday some users of Apple's iPad have had personal information exposed via a network security flaw, two months after the tablet computer was launched and smashed sales expectations.
U.S. antitrust regulators plan to investigate whether Apple is unfairly restricting rivals such as Google from carrying ads on the iPhone, iPad and iPod, the Financial Times said.
The euro rose on Thursday for a third straight day as strong demand for Spanish bonds eased concern about the country's ability to finance its debt and a spike in Chinese exports boosted confidence on global growth.
As hurricane season begins in the Caribbean and Gulf of Mexico, forecasters are predicting higher-than-usual activity that could disrupt oil and gas production in the Gulf and hinder efforts to clean up the Deepwater Horizon oil spill.
Treasury Secretary Timothy Geithner, delivering his sharpest criticism of China's exchange rate policies in months, said on Thursday the yuan's value was critically important for the world economy.
The European Central Bank, Germany's constitutional court and China's pension fund gave a triple boost to efforts to stabilize the euro zone on Thursday, lifting the single currency and European stocks.
The European Central Bank, Germany's constitutional court and China's pension fund gave a triple boost to efforts to stabilize the euro zone on Thursday, lifting the single currency and European stocks.
U.S. Treasury Secretary Timothy Geithner said on Thursday that reform of China's exchange rate is critically important to the U.S. and global economies and a more flexible yuan was in China's interest.
Stocks rose sharply on Thursday, with the Dow and S&P up more than 2 percent, as confirmation of strong China export data eased recovery concerns and helped spur a climb in the euro.
U.S. shares of oil company BP Plc rebounded more than 10 percent in early trade on Thursday, a day after plunging nearly 16 percent on mounting fears about how the company will cope with the massive costs of the oil spill in the Gulf of Mexico.
* ECB extends unlimited liquidity, bonds buying to continue
The euro rose on Thursday as strong demand at a Spanish debt auction eased concerns about how the country will fund its large debt, but caution before a European Central Bank policy decision capped gains.
U.S. mortgage rates dropped in the past week, with fixed-rate loans either reaching or nearing record lows, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
The number of workers filing new applications for unemployment insurance fell less than expected last week, while the trade deficit widened slightly in April, pointing to a moderate economic recovery.
