Shares in European banks rose strongly on Wednesday, driven by relief over a half-percentage point cut in U.S. interest rates, even though some analysts say the credit crunch which has battered stocks is far from over.
The dollar rose from a 15-year low against a basket of currencies on Wednesday as investors bet Federal Reserve's interest rate cut on Tuesday will help boost a slowing U.S. economy.
Consumer prices unexpectedly dipped 0.1 percent last month and new home construction hit a 12-year low, data on Wednesday showed, underlining concerns about the country's economic outlook. August consumer prices were pushed lower by slumping energy costs and posted their first decline since October, the Labor Department said, while core inflation rose as expected.
Deutsche Telekom's mobile phone division, T-Mobile, said on Wednesday it won a deal to sell Apple's iPhone and said the price would be 399 euros ($558), as reported last week by Reuters.
Indian communists are not expected to budge on a nuclear deal with the United States, left leaders said.
Global equities rallied on Wednesday after an aggressive U.S. rate cut allayed fears that a credit crunch which has plagued markets could drag the U.S. economy into recession, but the dollar suffered a blow. The dollar struck a 15-year low against a basket of currencies after the Fed rate cut eroded the yield appeal of the U.S. currency. The weakness of the dollar pushed gold prices to 16-month highs.
Top U.S. food companies, worried recent import scares may turn away customers, launched a plan on Tuesday to add teeth to existing safety guidelines and increase funding for bare-bones federal regulators.
Toymaker Mattel Inc's recent recalls involved toys that had nearly 200 times the amount of lead in paint as allowed by U.S. law, the company said in a letter released to a congressional subcommittee on Tuesday.
Banks have always lent out more than their clients have on deposit but just once in a while savers lose trust and demand all their money back, exposing one of the optical illusions at the heart of finance.
Oil rose above $82 a barrel on Wednesday, closing in on a record hit the previous day after the U.S. Federal Reserve's interest rate cut raised expectations of still robust energy demand in the world's top consumer.
China can evade related consequences from the subprime mortgage crisis in the United States, according to two renowned Chinese economists, the Shanghai Securities News reported today.
Apple Inc. will start selling its popular iPhone smart-phone in the U.K with the Spanish-owned service provider O2, bringing the firm's highly-coveted device to Europe for the first time.
Two-year treasury notes rose as and ten-year securities fell on Tuesday following the U.S. Federal Reserve's announcement that it would cut it's benchmark interest rates to prevent the U.S. economy from slowing too much even as some signs of inflation remain.
International investors bought $19.2 billion in long-term U.S. securities in July, the lowest inflow in seven months, the Treasury Department said on today.
Prices paid to U.S producers fell sharply in August according to data released on Tuesday, painting a gloomy picture for U.S growth.
Oil jumped to a peak over $82 a barrel after the U.S Federal Reserve slashed interest rates and elevated concerns of a low winter supply.
Microsoft Corp wants video gamers to finish the fight when the last chapter of its Halo trilogy comes out next week, but a carefully crafted merchandising strategy will make sure Master Chief lives on for years to come.
Boeing Co said on Tuesday that China will require 3,400 new airplanes worth about $340 billion over the next 20 years, raising its forecast for the country's booming aviation arena.
India's top drug makers are in the race to acquire U.S.-based generic drug maker, Par Pharmaceutical Co Inc, two Indian newspapers reported on Tuesday.
Indian outsourcing companies are shifting some of their operations to China, the Philippines, Vietnam and Kenya in a bid to stay competitive as higher wages, expensive property prices and a rising rupee eat into profits.
Home builder sentiment fell for a seventh straight month in September as tougher mortgage requirements hindered sales from bloated inventories, the National Association of Home Builders said on Tuesday.
Their helicopters buzz through the Baghdad sky, their patrols bristle with the latest weaponry and their armored vehicles carry the latest hi-tech gadgets.
