In a flat world Gold and Silver are the only movers
The worst part of the world's current financial crisis is still on its way. The enormous debt levels present in our financial system is central to this crisis. This huge debt levels could cause the world's monetary system to collapse, starting with the weaker currencies and quickly making its way to the major ones. Day by day the premier signal (gold price) of this collapse is getting clearer and should encourage more people to run for cover.
Magna surges on plan to end dual share structure
Shares of Magna International Inc surged 21 percent on Thursday, after it said it inked an agreement with founder Frank Stronach to eliminate the auto parts maker's dual class structure.
Honda CFO: quarterly steel negotiations not logical
Honda Motor Co's chief financial officer said on Thursday automakers' need for a stable supply of steel meant negotiating prices with steelmakers every quarter was out of the question.
Wall Street down as retail sales fall short
U.S. stocks were lower on Thursday after weaker-than-expected retail sales and as the European Central Bank failed to offer additional measures to stop a debt crisis from engulfing the euro zone.
April retail sales disappoint
Most top U.S. retail chains reported weaker-than-expected April same-store sales on Thursday, suggesting that Wall Street's hopes for a consumer rebound have gotten ahead of the actual pace of recovery.
Greece to back austerity plan
The Greek parliament prepared to adopt a harsh austerity plan in the face of violent unrest, as European Central Bank inaction disappointed markets fearful a debt crisis will engulf the euro zone.
Costco April same-store sales narrowly miss Street view
Costco Wholesale Corp on Thursday reported a 11 percent rise in April sales at stores open at least a year, but the results narrowly missed Wall Street expectations.
Non-farm productivity slows sharply in first quarter
U.S. non-farm productivity growth slowed sharply in the first quarter, government data showed on Thursday, suggesting businesses will have to raise employment to boost output.
Bailed out homebuilders collect fat paychecks
No one rode the U.S. housing bubble higher than the company that calls itself America's Builder, D.R. Horton Inc.
Jobless claims dip, productivity growth slows
U.S. productivity grew solidly in the first quarter, although not as fast as in previous periods, and data also showed the number of U.S. workers filing claims for jobless aid fell slightly last week.
ECB says did not discuss bond buys, holds rates
The European Central Bank did not discuss buying government bonds in its policy meeting on Thursday, its head said, and he gave no indication the bank planned to introduce additional measures to boost lending.
Facebook privacy snafu exposed user chats
Private chats between some Facebook users were briefly viewable by other users on Wednesday, an embarrassing technical glitch for a company facing growing criticism over sloppy privacy protection.
Congress probing J&J Children's Tylenol recall
A U.S. congressional committee is investigating Johnson & Johnson's recent recall of Children's Tylenol and other over-the-counter pediatric medicines.
Greece to back austerity, anxious markets eye ECB
The Greek parliament prepared to adopt a harsh austerity plan on Thursday in the face of violent unrest, as markets looked to the European Central Bank to prevent a debt crisis engulfing the euro zone.
Geithner: need tougher rules for shadow banking
Failure to give regulators enough legal power and the rapid growth of a shadow banking system were behind the eruption of the financial crisis, U.S. Treasury Secretary Timothy Geithner will tell an official inquiry on Thursday.
Futures point to lower open as retail sales disappoint
U.S. stock index futures pointed to a lower open on Thursday after weaker-than-expected retail sales and the European Central Bank left monetary policy unchanged, disappointing investors who hoped the ECB would prevent a debt crisis from engulfing the euro zone.
Some retailers miss April sales estimates
Top U.S. store chains from Costco Wholesale to Gap Inc posted disappointing April same-store sales, suggesting that Wall Street's hopes for a consumer rebound may be getting ahead of the pace of recovery.
Nokia board says supports management's strategy
The chairman of Nokia said its management had the board's full support as it moves the world's top cellphone maker away from hardware and toward offering services.
Stock futures drop after ECB decision
U.S. stock index futures fell on Thursday after the European Central Bank left monetary policy unchanged, disappointing investors looking to the ECB to prevent a debt crisis from engulfing the euro zone.
McDonald's aims to expands franchise trial in China
McDonald's Corp , the world's biggest fast-food chain operator, is looking for new franchise partners in China, expanding a six-year-old trial program in its fastest growing market, a spokeswoman said on Thursday.
Early April retail sales disappoint
U.S. retailers including discounter Costco Wholesale and teen chain Zumiez posted slightly disappointing April same-store sales, and the early report suggested Wall Street's hopes for a consumer rebound may be getting ahead of the pace of recovery.
Stock futures gain after sell-off
U.S. stock index futures rose on Thursday as investors looked for buying opportunities after a sell-off that has driven the S&P 500 down 3 percent for the week.
Azerbaijan, Turkey reach gas deal
Azerbaijan's state oil company SOCAR said Thursday that an agreement has been reached with Turkey concerning the price of Azerbaijani gas and its transit through Turkish territory. The new agreement will enable the smooth functioning of the Nabucco gas project.
Uganda's third gold refinery starts functioning
Uganda's third gold refinery named Victoria Gold Star started operations with a capacity to refine 60kg of gold daily. The refinery, built with the help of Russian investors at a cost of around $1.5million, was located at Fifth Industrial area in country's capital Kampala.
Mining firms cash in on metals boom
This week the world got a taste of the things to come for base metal mining companies in the world. Almost all companies involved in mining have posted lucrative gains in the financial year results. One major aluminium producing company, Vedanta, has posted 187 per cent surge in annual earnings per share on a rebound in metals prices and stronger output.
Swiss Re confident it can repay Buffett
Swiss Re , the world's second-biggest reinsurer, boosted its capital by around $3 billion, giving it confidence it can repay a costly convertible loan from billionaire Warren Buffett and regain a key credit rating.
Chicago institute offers iPad app class
CHICAGO - Phillip Leslie needed software coders to develop mobile applications for his fledgling startup, ProOnGo LLC, which offers a solution to keep track of business receipts on a smartphone, using the device's built-in camera.
Oil hovers near $80 on Greece concerns
Oil hovered near $80 a barrel on Thursday, after earlier hitting a six-week low as fears that Greece's economic crisis may spread to other European nations raised uncertainty over future global energy demand. The euro fell to a 14-month low, while the U.S. dollar strengthened as skepticism that Greece could deliver on its promises of strict austerity measures dominated financial markets.
Monster U.S. online jobs index up 3rd straight month
A gauge of online demand for labor in the United States rose in April for a third straight month and posted its largest year-on-year percentage gain since July 2007, a private research group said on Thursday.
Fed's Rosengren: Ultra-low rates still needed
The economy is showing signs of improvement but the recovery still has a long way to go and ultra-low interest rates are still needed, a top Federal Reserve official said on Wednesday.
