Oil prices fell on Friday on fears that the rising consumer prices could pose difficulties for the U.S economy, leading to reduced demand.
U.S. stocks on Friday declined sharply amid concerns that rising inflation may prevent the Federal Reserve from lowering the interest rates which may affect the economy.
The holiday shopping home stretch run starts this weekend, and U.S. retailers hope that dilly-dallying shoppers are ready to open up their wallets and get serious about spending. The 10 days before Christmas are the busiest of the season, with as much as 40 percent of total holiday sales coming then, according to analysts from the Telsey Advisory Group.
Nintendo is offering a remedy to all those consumers who cannot find its popular game-console this holiday season - a rain check.
U.S. stocks fell on Friday after a government report showed consumer prices rose the most in more than 2 years, raising concerns over inflation.
Nintendo Co Ltd said on Friday it will offer a rain check program to help frustrated holiday shoppers who can’t get their hands on the popular Wii game console.
Consumer prices posted their biggest gain in more than two years in November as energy costs surged and a host of other prices marched higher, damping prospects of further interest-rate cuts from the Federal Reserve. However production at mines, factories and utilities rose more than expected, suggesting the economy may have a bit more steam than many analysts had thought.
Nintendo Co Ltd's Wii held on to its spot as the No. 1 video game console in the United States in November, selling 981,000 units, industry data showed on Thursday.
Pakistan was poised to lift emergency rule on Saturday, but critics said it might make little difference for an opposition complaining President Pervez Musharraf can still engineer an election win for his allies.
Top European central bankers expressed concern on Friday about the success of a concerted action plan to grease the wheels of seized-up money markets, as U.S. banking giant Citigroup faced fresh strife. One official said he was disappointed money market rates remained at 4.8 to 4.9 percent despite a planned liquidity injection by the world's major central banks.
Europe toned down a clash with the United States over 2020 climate goals on the final day of U.N. talks in Bali on Friday, raising hopes of a deal to start negotiations on a new global warming treaty.
Stock futures pointed to a soft start on Wall Street later on Friday ahead of key consumer inflation data that could shape the market's expectations for interest rates.
A number of money managers are up in arms over a plan by several central banks to thaw frozen credit markets because it will stop investors from feeling the pain of failed bets.
Business sentiment among big Japanese manufacturers has sunk to a two-year low, a Bank of Japan survey showed on Friday, reinforcing expectations that any rise in interest rates will be delayed to late next year. Rising material costs, lower construction and concerns over a possible U.S. recession contributed to the slide in optimism.
Google’s proposed buyout of DoubleClick is at the margins of a conflict of interest claim by two non-profit privacy groups who say that a top U.S. antitrust regulator has links to the law firm representing DoubleClick before the Federal Trade Commission.
Treasuries fell on Thursday after two U.S. government reports showed stronger than expected retail sales and inflation in wholesale prices, reducing the chance that the Federal Reserve will need to cut interest rates to give a boost to the economy.
Germany’s Lufthansa said on Thursday that it will buy a 19 percent stake in the low-cost U.S airline, Jet Blue, in a deal worth nearly $300 million.
Crude oil fell nearly $2 on Thursday on concern whether yesterday’s plan by central banks around the world to lend more money to commercial banks would do enough to prevent an economic slowdown.
Copper fell on Thursday on investor concern that a slowing U.S. economy will mean reduced demand for the metal.
Countrywide Financial Corp said on Thursday that mortgage loan funding tumbled 40 percent to $23 billion in November, sending its shares down nearly 4 percent before the market opened.
Sales at retailers posted a much stronger-than-expected 1.2 percent rise in November, government data showed on Thursday, as holiday shoppers coped with high energy costs and the fallout from a housing slump. Excluding autos, retail sales gained 1.8 percent, the Commerce Department said. Economists polled forecast retail sales to rise 0.6 percent while sales ex autos were also projected to increase by 0.6 percent, according to Reuters.
The European Union threatened on Thursday to boycott U.S. talks among top greenhouse gas emitting nations, accusing Washington of blocking goals for fighting climate change at U.N. talks in Bali.
