Fed's Pianalto: years to lower unemployment
The economy is growing so slowly that it will take years to wrench lofty unemployment rates back to normal levels, Cleveland Federal Reserve Bank President Sandra Pianalto said on Friday.
Gold, Silver Rise as Investors Seek Safety
Gold and silver prices rose dramatically early Friday as investors fled crumbling Asian and European stock markets, but later in the session some of those early gains disappeared as investors began buying heavily discounted tech stocks.
Hedge fund Cairn sees France, Germany downgrades
France's top AAA credit rating is likely to be downgraded and Germany could easily follow as the costs of bailing out weaker euro zone economies push up their own debt piles, says credit hedge fund firm Cairn Capital's chief investment strategist.
U.S. oil speculative data released by Senator, sparking ire
Oil trading data that exposed the extensive positions speculators held in the run-up to record high prices in 2008 were intentionally leaked by a U.S. senator, sparking broader concern about industry confidentiality as Congress moves on Wall Street reform.
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Twice rejected, Icahn wants all Clorox board seats
Billionaire investor Carl Icahn wants all 11 seats on the board of Clorox Co , which last month twice rejected his offers to buy the bleach maker.
Wall Street edges up, helped by commodities
Stocks edged higher in early trading on Friday, with miners rising on higher commodity prices and the S&P 500 index finding technical support.
Silver Mining Companies Jump; Price of Silver Surges
Shares of silver mining companies charged out of the gate Friday, posting huge gains as the price of white metal also rose.
Icahn wants all 11 seats on Clorox board
Billionaire investor Carl Icahn wants all 11 seats on the board of consumer products maker Clorox Co , which has twice rejected his offers this summer to buy the company.
European banks' dollar funding woes feeds worries
Soaring costs for borrowing dollars to fund the daily business of Europe's banks is hitting their shares and feeding worries that the continent's spiraling debt crisis could trigger the next funding crisis for lenders.
Wall Street stocks set to extend fall
Stocks were set to extend the previous session's steep losses on Friday as concerns mount the economy may slip back into recession and European banks could be unable to weather a credit storm.
Gold Miners Surge Along with Price of Gold
Gold mining company stocks jumped shortly after trading began Friday as the price of the yellow metal surged and the broader market resumed its downward spiral.
EU Commission: euro zone assessing Finnish-Greek deal
Euro zone member states will have to decide if a deal between Finland and Greece on collateral for financial support to Athens is in line with the agreement on the bailout agreed last month, the European Commission said on Friday.
Insight: The madness of Wall Street
The best thing to be said of the recent stomach-churning turmoil on Wall Street is that it's taking place in August, a time of year when many people are lounging at the beach or camping in the woods and not paying attention to stocks.
Icahn eyes seats for self, 10 more on Clorox board
Billionaire investor Carl Icahn wants all 11 seats on the board of consumer products maker Clorox Co , which has twice rejected his offers this summer to buy the company.
Super rich still making money in crisis
Financial advisers to the world's richest people report some of their top clients have continued to make money throughout recent market turmoil by harnessing sophisticated investments out of reach to mainstream punters.
Stocks set for further losses on recession worry
The S&P 500 stock index on Friday was likely to extend its 4.5 percent decline of the previous session as concerns mount the U.S. economy may slip back into recession.
Gold Price Vaults to Record High
Gold vaulted 1.4 percent in the first two hours of trading Friday amid mounting concerns the U.S. economy is heading into another recession and as some European lenders faced a short-term funding crunch, highlighting the risk of a banking crisis.
Silver Surging Twice As Fast As Gold
The price of silver rose early Friday at a rate that was nearly double the rate at which gold is rising.
HK police say arrests alleged HKEx cyber attacker
Hong Kong police said on Friday they had arrested a businessman who allegedly hacked into the news website of the Hong Kong Exchanges and Clearing Ltd , the world's biggest bourse operator by market value.
Gold Shoots to Record High on Global Fears
Gold charged to a record high early Friday in electronic trading as a host of bad economic news from around the world drove investors away from stocks for the safety of the yellow metal.
Economic worries hobble stock futures
Mounting concern the U.S. economy may slip back into recession hobbled stock index futures on Friday, a day after the S&P 500 lost 4.5 percent.
SA Mineworker Union Rejects Pay Raise Offer; Arbitration Coming
South Africa's National Union of Mineworkers members at Impala Platinum on Friday rejected a revised pay rise offer from the world's second largest producer of the precious metal and will refer the dispute to arbitration.
Copper Price Steadies After Big Drop
Copper steadied on Friday, pausing for breath after the previous session's hefty falls, although growing concerns about a slowdown in the United States and a debt crisis in Europe weighed on sentiment and capped further gains for the metal.
Economic worries hobble futures
Mounting concern the U.S. economy may slip back into recession hobbled stock index futures on Friday, a day after the S&P 500 lost 4.5 percent.
Rusoro Unfazed by Chavez Nationalizing Gold Industry
Toronto-listed miner Rusoro appeared unfazed on Thursday by President Hugo Chavez's move to nationalize Venezuela's gold industry, saying it believed the decision only targeted illegal miners.
Gold Rallies more than 2 Percent to Another Record
Gold prices rallied more than 2 percent to a record highs on Friday as investors sought refuge from a second day of hefty losses on the stock markets, hurt by deepening concerns over slowing economic growth and the outlook for euro zone banks.
UBS says did not use Fed swap facility
Switzerland's biggest bank UBS said on Friday it had not made use of the Federal Reserve's swap facility via the Swiss National Bank.
Greek 2011 GDP fall to be worse than thought: finmin
Greece's economy will shrink by over 4.5 percent this year, the country's finance minister said on Friday, adding that a new bailout deal for the troubled euro zone member would not be completed before mid-October.
Analysis: Smarting firms push case for India policy breather
A. Chandra Shekhar, the CEO of a small alternative energy solutions firm at the heart of India's much-vaunted boom story, should be rolling in orders and expanding his business on the coat-tails of near double-digit economic growth.
China to skip U.S. Fed's Jackson Hole meet: sources
China will skip next week's annual conference of central bankers in Jackson Hole, Wyoming, two sources familiar with the situation told Reuters on Friday.
U.S. stock futures signal another day of losses
U.S. stock index futures pointed to a sharply weaker open for equities on Wall Street on Friday, a day after the Nasdaq <.IXIC> ended more than 5 percent lower and the S&P 500 <.SPX> slipped 4.5 percent on rising recession fears.
Stock futures signal another day of losses
Stock index futures pointed to a sharply weaker open for equities on Wall Street on Friday, a day after the Nasdaq ended more than 5 percent lower and the S&P 500 slipped 4.5 percent on rising recession fears.
ECB's Stark: risky to keep rates too low for long
European Central Bank policymaker Juergen Stark dismissed the idea of common euro zone bonds being a solution to the currency bloc's debt crisis and said leaving interest rates too low for too long was risky.
Gold Spikes to Record $1,853
Gold surged more than 1 percent to a record high above $1,850 an ounce Friday, as investors reached for the safety of bullion amid a worsening economic outlook for the United States and concern about the health of Europe's banks.
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