A tumble in global stocks spread to Asia on Wednesday as fears heightened that Greece's debt woes could spread to other countries, which pushed the euro down to one-year lows against the dollar.
Warm weather and a desire to refresh wardrobes should have helped retailers increase sales in April, showing consumers are willing to spend a little more in an improving economy.
Electronics and luxury items were the fastest-growing U.S. sales categories in the retail sector in April, but weakness in apparel suggests that a sustained recovery in overall retail may be too soon to call, according to a report released on Tuesday.
Gold prices extended losses in Asian trade Wednesday as the dollar gained more momentum against the euro. Gold for immediate delivery was seen trading at $1167.09 an ounce at 11.30 a.m Singapore time while U.S. gold futures for June delivery were at $1,168.00 on the Comex. The precious yellow metal gave up its safe-haven status to the dollar dropping sharply overnight in step with a broad sell-off in commodities and stocks.
People with a spouse suffering from dementia have higher risk of developing the disease.
As Syria aggressively courts foreign investors to rescue its dwindling oil and gas sector, government corruption and problems settling disputes remain sticking points for some interested international players. But experts are divided over how contentious these obstacles truly are.
The oil spill in the Gulf of Mexico from a collapsed offshore drilling rig could affect White House plans to extend offshore drilling, press secretary Robert Gibbs acknowledged as the oil slick threatened onshore sites from the Louisiana wetlands to the Sarasota beaches and disrupted fishing and energy industries.
News Corp's quarterly profit beat expectations thanks to the 3-D blockbuster Avatar and strong cable networks, but the media conglomerate's shares fell 4 percent after its outlook disappointed some investors.
Molson Coors Brewing Co posted a lower-than-expected quarterly profit, hurt by higher expenses and falling sales volume, but its shares pared losses with the announcement of a new venture in China with a local brewer.
UBS AG's Wealth Management Americas brokerage has space issues: too much real estate for a work force reduced by thousands in the past two years.
Washington Mutual Inc said on Tuesday that shareholders were demanding an independent investigation of the company's collapse in the hopes of getting a pay off, according to court documents.
:: Australian Dollar: The Aussie dollar bounced off support between 0.9220 and 0.9230 on several occasions over the last 24 hours to open this morning relatively unchanged from yesterday's close at 0.9260.
Investors dumped stocks on Tuesday in Wall Street's worst session in three months on the fear that even with a bailout for Greece, Europe's debt crisis could spread to other weak euro zone countries.
Pending sales of previously owned homes hit a five-month high in March as buyers rushed to sign contracts before a tax credit expired, while a jump in factory orders underscored manufacturing strength.
Investors dumped U.S. stocks on Tuesday in Wall Street's worst session in three months on the fear that even with a bailout for Greece, Europe's debt crisis could spread to other weak euro zone countries.
Gold prices retreated on Tuesday from five-month highs above $1,190 hit earlier in the day, as its safe-haven status was dented by Spain's dismissal of rumors the country needed 280 billion euros ($372.9 billion) of aid.
Chrysler is offering free financing on most 2010 model-year vehicles or up to $4,000 in cash rebates for the month of May as it tries to boost U.S. sales amid heavy discounting by rivals.
Gold prices, which have rallied sharply in recent weeks on sovereign risk concerns, may be vulnerable to a sharp correction when the fear factor dies down.
Big banks should be charged a fee to pay for bailouts as it will make them less prone to reckless lending, U.S. Treasury Secretary Timothy Geithner told lawmakers on Tuesday as he sought support for the proposal.
Swiss bank UBS' top managers reported a sea change in client confidence that should stem outflows of client cash by the end of this year.
U.S. drugmakers Pfizer Inc and Merck & Co Inc posted better-than-expected quarterly results, helped by cost savings from their respective mega-mergers that could boost results for several more years.
Treasury Secretary Timothy Geithner on Tuesday urged lawmakers to support a proposal to charge big banks a fee to pay for bailouts and said it will make them less likely to engage in reckless lending.