Oil rose above $65 a barrel on Friday, on track for its largest monthly percentage gain in more than a decade, after Japanese and U.S. data suggested the economic downturn may be moderating.
A group of banks and money managers plan to release a letter to the Federal Reserve Bank of New York and other U.S. and overseas regulators to help fend off some rules proposed by the Obama administration that seek to control trading in the derivatives market, the Wall Street Journal reported.
Oil rose to a new six-month high above $65 a barrel on Friday, on track for its largest monthly percentage gain in more than a decade, after government data showed a surprisingly sharp drop in U.S. crude inventories and OPEC left output steady.
The Australian dollar surged to a eight-month high on Friday on the back of rising raw material prices, while crude oil matched a six-month high above $65, up some $4 this week on hopes that a global economic recovery will spur energy demand.
U.S. yellow-pages publisher R.H. Donnelley Corp filed for Chapter 11 bankruptcy protection on Thursday, court documents showed.
Oil fell below $65 a barrel on Friday but was on track for its largest monthly percentage gain in more than a decade after government data showed a surprisingly sharp drop in U.S. crude inventories and OPEC left output steady.
The yen rose on Friday, helped by the biggest monthly spike in Japanese industrial output since 1953, while crude prices eased from a six-month high but were still up around $3 this week on expectations of increased demand.
Journalist Roxana Saberi, who was released by Iranian authorities last week, said Thursday she had been under “severe psychological and mental pressure” during interrogations.
New York state Insurance Superintendent Eric Dinallo will resign effective July 3, Governor David Paterson said on Thursday, amid speculation the former prosecutor may run for state attorney general.
A U.S. traffic safety agency has ordered the first recall of Tesla’s electric sports car Roadster over a problem which can cause its rear wheels to come loose.
Oil surged past $65 a barrel on Thursday to a fresh six-month high after OPEC decided to keep output unchanged and government data showed a steep drop in U.S. crude inventories.
The U.S. recession is fading but the economy will not recover in a meaningful way before the end of this year and deflation remains a risk in this climate, a top Federal Reserve official said on Thursday.
Top bond-fund manager Bill Gross warned of a slow U.S. recovery in coming years and said investors would do best aiming for modest returns.
Sales of small wind turbines in the United States grew 78 percent in 2008 compared to the previous year, the American Wind Energy Association reported on Thursday.
Venezuela's garrulous President Hugo Chavez on Thursday began a marathon four-day edition of his trademark television show to mark 10 years since the influential and widely watched program first hit the airwaves.
President Barack Obama on Thursday ratcheted up pressure on Israel to freeze settlements as he sought to reassure visiting Palestinian President Mahmoud Abbas of U.S. support for Palestinian statehood.
Germany and the United States get what may be their last chance to save Opel on Friday when they try to put a heated row behind them and forge a plan to shield the carmaker from a bankruptcy of its parent General Motors.
Stocks climbed more than 1 percent on Thursday as higher oil prices drove up energy shares and falling yields in the bond market eased concerns that higher borrowing costs would hinder economic recovery.
Time Warner Inc on Thursday made official plans to separate its AOL division sometime around the end of this year, a widely expected move that sheds one of the media company's weakest divisions.
Stocks climbed more than 1 percent on Thursday as higher oil prices drove up energy shares and falling yields in the bond market eased concerns that higher borrowing costs would hinder economic recovery.
There are green shoots, but not much more.
General Motors Corp persuaded its major bondholders to accept a sweetened ownership plan on Thursday, a deal that could result in a smoother ride for the carmaker through bankruptcy.
