U.S. mortgage demand slips as rates hold near lows
Demand for U.S. home loans slipped last week even as mortgage rates hovered near record lows, the Mortgage Bankers Association said on Wednesday.
Brazil official warns over derivatives risk-report
Brazil officials are worried a tumbling U.S. dollar is luring investors into risky currency derivatives contracts a year after the country grappled with massive losses from wrong, one-way wagers on the real (BRBY), O Estado de S. Paulo reported on Wednesday, citing a finance ministry aide.
Dollar index hits 15-month low after Fed minutes
The dollar hit a 15-month low against a currency basket on Wednesday after Federal Reserve minutes showed policymakers saw the U.S. currency's recent decline as orderly. Traders dumped the dollar across the board, pushing it to a 10-month low against the yen, as the minutes also reinforced the view U.S. interest rates will stay essentially at zero until around mid-2010.
U.S. third-quarter economic growth revised down
The U.S. economy grew more slowly than first thought in the third quarter, but a fifth month of gains in house prices in September and an improvement in consumer morale signaled the anemic recovery was intact. In its second estimate of third quarter gross domestic product published on Tuesday, the Commerce Department said the economy expanded at a 2.8 percent annual rate, probably ending the most painful U.S. recession in 70 years.
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Futures rise ahead of data
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Global stocks rise; gold at record high
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Stock index futures signal gains; data eyed
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Asia shares gain, gold hits record high
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Microsoft CFO to leave, look for bigger job
Microsoft Corp's Chief Financial Officer Chris Liddell is to leave the company at the end of the year, indicating that he is looking for a bigger job at another company.
JC Flowers in pursuit of UK bank assets
U.S. private equity investor JC Flowers is circling Britain's weakened banking industry, prepared to swoop on forced divestments over the next 12 months, according to the firm's new European and Asia Pacific boss.
Google to put ancient Iraq museum collection online
Google is putting thousands of images of ancient artifacts at Iraq's National Museum online, the Web search leader said on Tuesday, part of a U.S. bid to entice foreign firms to invest in Iraq.
World Bank: Raising rates quickly may cause slump: report
Swift interest rate hikes aimed at containing inflation in product and asset prices could cause another downturn in the slowly recovering economies of the United States and Europe, the head of the World Bank said.
Iran says needs guarantees to send uranium abroad
Iran could consider sending its low-enriched uranium abroad, the Foreign Ministry said on Tuesday, apparently softening its opposition to a U.N. plan aimed at keeping a check on its nuclear ambitions.
World Bank to start agriculture fund with $1.5 billion
The World Bank will start a trust fund to boost agriculture in poor countries with an initial $1.5 billion, its president Robert Zoellick said on Tuesday, warning of the risk of another food price crisis.
Obama says will finish the job in Afghanistan
U.S. President Barack Obama vowed on Tuesday to finish the job of an unpopular and costly eight-year war in Afghanistan, and officials said he could announce an increase of around 30,000 troops next week.
Obama seeks to reassure Singh on U.S.-India ties
President Barack Obama sought to reassure Indian Prime Minister Manmohan Singh on Tuesday of his commitment to boosting U.S. ties with India even as his administration has set its rivals, China and Pakistan, as top priorities.
J Crew full-price sales spur profit beat, shares up
J Crew Group Inc reported a quarterly net profit far above Wall Street estimates due to strong autumn sales of clothing and expanded profit margins from depressed year-ago levels.
EReaders, price war weigh on Barnes, Borders
Top U.S. booksellers Barnes & Noble Inc and Borders Group Inc will pay a price for coming late to market with electronic book readers, analysts said..
FDIC fund falls into red, Bair urges lending
The government-run fund that safeguards U.S. bank deposits tumbled to a negative balance of $8.2 billion in the third quarter, as the number of problem banks surged by a third to 552.
AIG board OKs CEO pay, as Benmosche agrees to stay
American International Group Inc , the insurer that received billions of dollars in a U.S. bailout, has been authorized by its board to pay Chief Executive Robert Benmosche's $7 million compensation, after it laid to rest concerns that he may quit the post.
Consumers May Save More as Jobless Rate to Stay Elevated: Fed
U.S. central bankers, meeting in early November, said they expected consumers to continue or even boost savings in the next few quarters while anticipating an elevated unemployment rate over the next few years.
Barnes & Noble cuts outlook; Borders sales fall
Barnes & Noble Inc cut its full-year forecast on expectations of a tough holiday season and high costs for its Nook electronic reader, while rival Borders Group Inc posted a wider-than-expected loss. Shares of both booksellers fell sharply.
Murdoch courts trouble if he blocks Google on news
Rupert Murdoch has spent months complaining that Google is ruining the newspaper business, and now he wants to do something about it. But, his proposal is a gamble, and one that could hurt News Corp instead of helping it.
U.S. tariffs would chill climate pact and trade
Any threat by the United States to slap fees on imports from countries it perceives as weak on cutting carbon emissions could hamper trade relations and delay international efforts to combat global warming.
California unveils draft cap-and-trade rules
California on Tuesday released draft rules for its landmark greenhouse gas cap-and-trade plan that will be the most ambitious U.S. effort to use the market to address global warming.
Michelle Obama photoshopped image puts Google on defensive
The controversy over a controversial an offensive image of Fist Lady Michelle Obama grew after Internet search leader Google said that the fact that certain images appear in its search engine results does not reflect the opinion of the company.
U.S. court bars promotion of stock sale tax scheme
A federal judge has barred the promotion of a scheme designed to help clients evade taxes on more than $1.25 billion in asset sales, the U.S. government said on Tuesday.
Half of banks' losses may be unknown: IMF chief
Half of the losses suffered by banks could still be hidden in their balance sheets, more so in Europe than in the United States, the International Monetary Fund's chief, Dominique Strauss-Kahn, was quoted as saying on Tuesday.
Aware of policy risks, Fed sees firmer growth
Federal Reserve officials are increasingly confident the U.S. economic recovery will be durable, but do not see employment or inflation picking up soon, minutes from their November meeting showed.
Aware of policy risks, Fed sees firmer U.S. growth
Federal Reserve officials are increasingly confident the U.S. economic recovery will be durable, but do not see employment or inflation picking up soon, minutes from their November meeting showed.
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