Stocks hit 8-1/2 month low
World and emerging stocks slid to their lowest since Sept 2009 and the euro and oil fell on Tuesday on worries over the euro zone banking sector and concerns over tensions on the Korean peninsula.
Who will get crude oil prices right?
It is often difficult to guage whether price of a commodity reflects the underlying fundamentals or reflects the mood of investors in financial markets either in terms of risk aversion or increased risk appetite.
US may lose top wheat exporter rank after 65 yrs
World's largest wheat exporter, the US is likely to lose its position to Black Sea states, warned US Department of Agriculture. According to a report from the USDA, Black Sea states of Kazakhstan, Russia and Ukraine look set to raise wheat exports by one half to more than 50m tonnes by the end of the decade, overtaking US for the first time since second World War.
Gold drops half a percent in Asia
Gold prices dropped nearly half a percent in Asian trade Tuesday mainly after the dollar rebounded on Euro zone worries. Gold for immediate delivery was seen trading at $ 1190.71 an ounce at 11.30 a.m Singapore time after fell as low as $1184.90 an ounce earlier in the day. US gold futures for June delivery was at $1190.50 an ounce at the same time on the COMEX division of the New York Mercantile Exchange.
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Weak start for Prudential Asia shares
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Shares and euro fall as debt fears rattle markets
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Japan voices Europe debt concerns as euro and stocks fall
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Asian stocks fall as debt fears rattle markets
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CES 2021 Highlight: Robot Vacuum And Mop From Roborock Unveiled, 50Hz Scrubber For Tough Stains
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CES 2021 Highlight: HONOR Band 6 Global Version Launch, The Most Functional Affordable Fitness Tracker to Date
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JPMorgan's Dimon broadly optimistic on reform
JPMorgan Chase & Co Chief Executive Jamie Dimon is broadly optimistic financial reform is headed in the right direction, he said on Monday at the Japan Society's Annual Dinner in New York.
Nikkei slides over 2 percent
Japan's Nikkei average fell 2 percent to its lowest in more than five months on Tuesday, as the euro fell further on worries that Europe's woes now included the health of some banks in addition to sovereign debt problems.
Shareholders sue BP for spill liability
Shareholders have sued the board of BP Plc for failing to monitor safety and exposing the company to potentially enormous liability related to the Deepwater spill disaster in the Gulf of Mexico, according to court documents.
Australian Dollar Outlook 25/5/2010
The AUD has opened lower this morning as news out of Europe regarding the financial stability of Spain caused investors to reduce their risky positions as fears about the likelihood global economic recovery persisted.
Wall Street critic Frank to shepherd final reform bill
U.S. representative Barney Frank, a fierce critic of Wall Street and close ally of the Obama administration, will head a House-Senate committee to hammer out a final bill on financial regulation reform.
Lawmakers eye communications law revamp
Top Democratic lawmakers said on Monday they will hold a series of meetings starting in June to discuss proposals to revamp the U.S. communications law as regulators set a course on broadband oversight.
Budget agency puts $21 billion tag on Fed rescues
The non-partisan Congressional Budget Office on Monday put the cost of the Federal Reserve's emergency support program for the U.S. financial industry during the 2007-2009 crisis at about $21 billion.
Daily forex forecast - 25/5/2010
Volatility continued yesterday with the Aussie opening at 0.8320, then hitting an intraday low of 0.8184 before bouncing back to 0.8300 – and this was just the first few hours.
Growing Revolutionary Guard Spells Uncertainty For Oil Investors In Iran
As the United States edges closer to issuing a fresh round of sanctions against Iran, foreign investors so far unmoved by international pressure will end up doing business with a Revolutionary Guard that makes even local firms nervous, an analyst warns.
Divided Europe spreads contagion fears in U.S.
The European debt crisis drew new cries of alarm on Monday as a top White House adviser warned it could slow a global economic recovery, a European Union official sharply critiqued Germany, and investors worried a Spanish bank bailout could signal further distress.
Tax credit boosts home sales, but supply also up
Sales of previously owned U.S. homes touched a five-month high in April amid a late rush to take advantage of a homebuyer tax credit, but a jump in houses on the market pointed to a slow recovery.
Home financing sick, needs private capital: FHA
Financing for U.S. housing still lacks private capital, a sign of a very sick system, said David Stevens, Federal Housing Administration commissioner, told a Mortgage Bankers Association convention on Monday.
Fannie, Freddie launch new loan data standard: FHFA
The regulator for Fannie Mae and Freddie Mac said on Monday the U.S. government-controlled mortgage finance giants will launch a standardized method for lenders to submit information on mortgages, including appraisals, by next year.
Regulators may never pinpoint cause of market crash
U.S. regulators may never know what caused the recent market crash and still have not found evidence trading errors or system malfunctions triggered the brief free fall, top futures markets regulators said on Monday.
Gentiva to buy Odyssey HealthCare for about $1 billion
Gentiva Health Services Inc agreed to buy Odyssey HealthCare Inc in a $1 billion cash deal, which could make it one of the top players in the U.S. home and hospice care market and spark more consolidation in the space.
Summers says recovery on track but must boost jobs
There are growing signs of a recovery in the U.S. economy but the high unemployment rate remains a big concern, White House economic adviser Lawrence Summers said on Monday.
U.S. needs growth to tackle long-term deficit: Summers
Top White House economist Lawrence Summers said on Monday the United States must assure investors it will curb the budget deficit over time, while delivering short-term fiscal stimulus to boost growth.
Campbell profit tops view, but outlook weighs
Campbell Soup Co posted a higher-than-expected quarterly profit as U.S. soup sales rose for the first time in three quarters, but the gain was fueled by increased promotions the company expects to continue.
Brussels calls Germany naive
The European Commission's chief accused Germany on Monday of making naive proposals to combat the euro zone debt crisis, while financial markets took fright after Spain bailed out a small savings bank.
Frank to head House-Senate Wall St bill panel: aide
One of the chief architects of U.S. financial reform will chair the House-Senate panel that hammers out the final version of the Wall Street overhaul, a spokesman for the Democratic lawmaker said on Monday.
Tech stocks lift Nasdaq
The Nasdaq gained on Monday after positive broker comments lifted large-cap technology shares, though sustained worries about Europe's banking system restrained the Dow and the S&P 500.
Economists see U.S. recovery building, Europe a worry
U.S. economic prospects are brightening, although Europe's debt troubles serve as a reminder that the United States must tame its own roaring deficit, economists said in a report on Monday.
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