MARKETS / FINANCE

The Federal Reserve Bank is taking a closer look at the U.S. units of Europe's biggest banks, concerned that a euro zone debt crisis could spill into the U.S. banking system, the Wall Street Journal reported.

Gov. Rick Perry, R-Texas and a candidate for the 2012 Republican nomination for president, said Wednesday he doubts man-made climate change is occurring, and also asserted that some scientists have manipulated the climate change research data to keep the issue alive.

The news that Venezuela plans to repatriate 211 metric tons of its gold held internationally is part of a global trend that has been underway for nearly two years as the worldwide economic environment becomes increasingly shaky, an analyst said Thursday.

The number of Americans claiming new jobless benefits rose last week and consumer prices increased at the fastest pace in four months in July, highlighting the challenges facing the Federal Reserve.

Three months ago, with the Federal Reserve nearing the end of its second major stimulus program and inflation pressures on the rise, Albert Edwards' bond market view stood out from the crowd.

The United States and euro zone are dangerously close to recession, Morgan Stanley said on Thursday, criticizing policymakers and predicting the European Central Bank will have to reverse its rates policy.

A Colorado-based gold mining company has started minting its own gold coins with a view to paying shareholders their dividends in the precious metal.

U.S. stock index futures pointed to a sharply lower open on Thursday as a report that regulators were intensifying their review of European banks' U.S. units shook up investors.

Surging silver prices has private individuals looking to sell jewellery, silver service items or heirlooms made of precious metals, much as the record high price of gold has driven many people to sell their gold for cash.

Factory activity in the Mid-Atlantic region plummeted in August, falling to the lowest level since March 2009, while existing home sales unexpectedly dropped in July, tempering hopes for a revival of economic recovery.

The number of Americans claiming new jobless benefits rose last week and consumer prices increased at the fastest pace in four months in July, highlighting the challenges facing the Federal Reserve.

Gold soared to a new record Thursday as the stock market plummeted on concerns that European banking woes could spread to the United States.

U.S. economic growth in the first half of the year has been quite a bit slower than expected, a top U.S. central bank official said on Thursday, causing him to temper his expectations about the pace of economic recovery.

Consumer prices rose faster than expected in July as gasoline rebounded sharply, but a moderation in underlying price pressures backed the Federal Reserve's view of a low inflation environment.

Michele Bachmann has promised supporters that if elected President she will make sure gas prices are lower than $2 a gallon.

Traders on the U.S. futures market bid up the price of gold to a record high early Thursday on continued concern about the slowing economies of both Europe and the United States.

The U.S. Justice Department is investigating whether analysts at Standard & Poor's (S&P) wanted to lower ratings on selected mortgage-backed securities, but were prevented from doing so by more-senior S&P officials.

Shares of exchange-traded funds back by gold and silver rose in premarket trading Thursday as the U.S. government reported a higher-than-expected increase in inflation and an increase in jobless claims.

Consumer prices rose faster than expected in July as gasoline rebounded sharply, but a moderation in underlying price pressures backed the Federal Reserve's view of a low inflation environment.

New U.S. claims for unemployment benefits rose more than expected last week, according to a government report on Thursday that suggested hiring in August was steady but not robust.

Venezuela will nationalize its gold industry and is moving its international reserves out of Western countries, President Hugo Chavez said Wednesday in a combative step ahead of his re-election.

The Justice Department is investigating whether Standard & Poor's improperly rated dozens of mortgage securities in the years before the financial crisis, The New York Times reported on Thursday, citing sources familiar with the matter.

History suggests the misery suffered by stock investors this summer should end soon, even if relying on precedent seems risky in this year of surprises.

Gold demand fell in the second quarter but is still expected to rise in the full year as Asian buyers add to holdings and interest in the metal as a haven is stoked by worries over U.S. and euro zone debt, the World Gold Council said on Thursday.

Gold edged higher on Thursday on persistent worries about euro zone debt woes and slower global growth, defying a rebound in the dollar.

Gold rallied back toward record highs above $1,800 an ounce on Thursday, driven by unease over the lack of a solution to the European debt crisis and sluggish growth in the developed world which has shaken investor confidence in stocks, bonds and hard currencies.

Stock index futures sank on Thursday as a gloomy forecast on global growth and continuing worries about the European debt crisis shook up investors ahead of data on jobless claims and consumer prices.

Forest Laboratories Inc's showdown with activist investor Carl Icahn should be resolved on Thursday, when shareholders meet to pick the drugmaker's new board of directors.

Stock index futures pointed to a sharply lower open on Wall Street on Thursday, with futures for the S&P 500 down 2 percent, Dow Jones futures down 1.5 percent and Nasdaq 100 futures down 2.2 percent at 5:17 a.m. EDT.