The Bank of England looks set to keep interest rates at a record low on Thursday -- and probably for the rest of this year -- as it seeks to bolster Britain's fragile recovery and offset painful government spending cuts.
Asian stocks rose on Thursday on higher-than-expected Chinese exports and assurances from Federal Reserve Chairman Ben Bernanke that the U.S. economic recovery was on solid footing, but European stocks were expected to open lower, tracking Wall Street's fall overnight.
Russia and Ukraine have decided to cooperate in oil and gas sector by allowing swap assets with each other. Speaking to newsmen here after meeting Russian president Vladimir Putin, Ukraine President Viktor Yanukovych said, We could swap some assets with Russia to cooperate in oil and gas production in Russia,
Oil remained lower in Asian trade Thursday despite a positive Chinese data which shows increase in overall exports of the country. Light sweet crude for July was seen trading at $74.23 a barrel at 12.00 noon Singapore time while Brent crude was at $ 74.01 a barrel in London.
Gold prices pared some of its overnight losses in Asian trade Thursday but remained under pressure on firmer currencies and stocks. Gold for immediate delivery was seen trading at $1232.74 an ounce at 12.00 noon Singapore time while U.S. gold futures for August delivery was at $1235.17 an ounce.
The Congress put the last pieces in place on Wednesday to begin hammering out a historic financial regulation overhaul, a day after primary elections vindicated get-tough-on-Wall Street politics.
There is a good chance that a sweeping U.S. financial reform bill will be passed in a reasonable form, White House economic adviser Paul Volcker said on Wednesday, adding the bill could provide a basis for international coordination on coherent legislation.
New strategic brinkmanship by the Democratic People's Republic of Korea (DPRK); a now-clear determination by the People's Republic of China (PRC) to more aggressively assert its territorial claims in regional waters; the near-collapse of Japanese strategic cohesion during 2010; and the increasing signs of US political caution in North-East Asia, all point to a period of strategic concern for the Republic of China, particularly in its maritime responsibilities.
Walgreen Co can make up for any revenue shortfall caused by its split with CVS Caremark Corp over their pharmacy benefits management arrangement, Walgreen's CEO said, noting he sees little chance of reconciliation.
The Australian dollar found some support from the release of strong Chinese trade data yesterday. The unofficial report served to support the view that the Chinese economy is still performing very strongly, in contrast to the current situation in Europe.
The Australian Dollar opens higher today against the big dollar at 0.8270. Recent gains fizzled out during local trade yesterday as Asian equity markets pulled back helping to push the Aussie down to an intraday low just above US82 cents.
The world's leading gaming hardware makers, hoping to reignite the slumping $60 billion industry, will unveil at E3 next week a range of futuristic gadgets designed to pull in a new generation of players.
There is a good chance that the sweeping U.S. financial reform bill will be passed in a reasonable form, White House economic adviser Paul Volcker said on Wednesday, adding the bill could provide a basis for international coordination on coherent legislation.
Stocks fell on Wednesday in another late-day roller-coaster ride, dragged lower by BP and other energy shares as the U.S. probe of the oil spill in the Gulf of Mexico deepened.
Someone has bid $700,100 to dine with billionaire investor Warren Buffett in an annual charity auction, putting the bidding far ahead of last year's level.
CVS Caremark Corp will remove Walgreen Co from its pharmacy benefits management network in retaliation for Walgreen's decision to stop filling prescriptions for new CVS Caremark business.
Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. economic recovery was on a solid footing but cautioned it could be years before the jobs lost during the deep recession of 2008-2009 are restored.
Economic activity improved nationwide last month, but worries about Europe's debt crisis dented confidence, the Federal Reserve said in its Beige Book collection of anecdotal reports.
U.S. economic activity improved nationwide last month, but worries about Europe's debt crisis dented confidence, the Federal Reserve said in its Beige Book collection of anecdotal reports.
Activist investor Carl Icahn has abandoned his proxy fight at Genzyme Corp in return for the biotechnology company's acceptance of two of his representatives to its board.
Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. economic recovery was on a solid footing but cautioned it could be years before the jobs lost during the deep recession of 2008-2009 are restored.
Germany's economy ministry rejected a request for 1.1 billion euros ($1.5 billion) in loan guarantees for loss-making carmaker Opel.
It is difficult to forecast the impact of severe tropical weather in the Gulf of Mexico region on crude oil production, because shut-in production in any particular year varies depending on the overall level of severe weather and the specific track of each storm (see Figure 1). The 2008 and 2009 hurricane seasons illustrate a wide range of oil production impacts.
The following are highlights from a House of Representatives Budget Committee hearing on Wednesday with Federal Reserve Chairman Ben Bernanke testifying. For text of prepared testimony, click on
Activist investor Carl Icahn has abandoned his proxy fight at Genzyme Corp in return for the biotechnology company's acceptance of two of his representatives to its board.
The United States is not facing a double-dip recession, and with inflation low conditions are setting up for equities in general to do well, Goldman Sachs' senior U.S. investment strategist Abby Joseph Cohen said on Wednesday.
Shares in BP fell 6 percent on Wednesday as investors saw it increasingly likely the oil major would suspend dividend payments, under U.S. political pressure due to its oil spill in the Gulf of Mexico.
A leading Senate critic of China's currency policy said a group of her colleagues were determined to push legislation allowing the Commerce Department to use anti-dumping and countervailing duty laws against China's exchange rate.
An Australian hedge fund is suing Goldman Sachs Group Inc over an investment in a subprime mortgage-linked security that hastened the fund's demise in 2007, a lawyer for the fund said.
Stocks jumped on Wednesday, driving the Dow back above the psychologically important 10,000 mark, as Federal Reserve Chairman Ben Bernanke's positive comments about the economy and unofficial data on Chinese exports spurred hopes for a global recovery.
