Oil fell more than $1 a barrel toward $57 on Monday, pressured by weaker European equities, a firmer dollar and caution over prospects for a global economic recovery.
The U.S. economy is expected to begin growing in the second half of this year, while the jobless rate is expected to peak in the first quarter of 2010, according to a survey of top forecasters released on Sunday.
GMAC, the troubled automobile lender, may receive a $7.5 billion infusion from the U.S. government as early as next week, the Washington Post reported in its Saturday edition, citing unnamed sources.
The U.S. government plans to reverse its antitrust policy and put more pressure on companies eyeing bigger market share through their dominance, the New York Times reported on its website.
The downward trend in the financial crisis is easing and national economic stimulus packages are starting to work, billionaire investor George Soros was quoted as saying by a German newspaper on Monday.
Stock index futures pointed to a lower open on Wall Street on Monday, with futures for the S&P 500 down 1.1 percent, Dow Jones futures down 1 percent and Nasdaq 100 futures down 1.5 percent, as investors were poised to book recent hefty gains.
Oil fell $1 a barrel to below $58 on Monday, reversing some of the previous session's gain, pressured by falling European equities and caution over the pace of any global recovery.
Global shares held steady on Monday, working on their third consecutive month of gains, but there were losses in Europe after recent gains amid worries about bank earnings.
The United States risks a Japan-style lost decade of growth if it does not take aggressive action to stimulate its economy and clean up its banking system, Nobel Prize-winning economist Paul Krugman said on Monday.
Asian shares rose to their highest in seven months while the safe-haven dollar extended its decline on Monday, but warnings about an impending turnaround are growing amid weak corporate results and views that any global recovery will only be gradual.
American International Group Inc and the U.S. government expect a multi-year restructuring of the insurer, the Wall Street Journal said, citing an internal AIG memo.
A Federal Reserve policy maker called on Monday for U.S. government protection of the financial industry to be rolled back because it had encouraged excessive risk taking at the heart of the current crisis.
Asian shares extended their rally on Monday and riskier assets such as the euro held on to recent gains, but warnings about an impending pullback are growing amid weak corporate results and views that any global recovery will only be gradual.
Oil fell toward $58 a barrel on Monday, reversing some of the previous session's near 3 percent gains, as investors took profit amid warnings that any global recovery will only be gradual.
Asian shares extended their rally on Monday and riskier assets such as the euro held on to recent gains, but warnings about an impending pullback are growing amid weak corporate results and views that any global recovery will only be gradual.
Britain's green job market is thriving despite tough economic times and mounting redundancies in other sectors, environmental recruiters said on Friday.
U.S. Commerce Secretary Gary Locke said on Friday he will travel to China this year to promote sales of U.S. clean energy goods as part of the Obama administration's effort to fight global warming.
U.S. government protection of its financial industry encouraged excessive risk-taking at the heart of the current financial crisis and ought be rolled back, a top U.S. Federal Reserve official said on Monday.
Global hoteliers are pinning their hopes on the east's underserved leisure markets to offset falling revenue as holidaymakers and business travelers cut back to save money in the global downturn.
A planned new U.N. climate pact is shaping up to be a mildly tougher version of the existing Kyoto Protocol rather than a bold treaty to save what U.S. President Barack Obama has called a planet in peril.
The German government is examining competing plans to invest in carmaker Opel and aims to decide by the end of the month whether to provide the firm with financing guarantees, a leading Social Democrat said.
GMAC, the troubled automobile lender, may receive a $7.5 billion infusion from the U.S. government as early as next week, the Washington Post reported in its Saturday edition, citing unnamed sources.
