U.S. Consumer Spending Flat in December
Consumer spending was flat in December as households took advantage of the largest rise in income in nine months to boost their savings, setting the tone for a slowdown in demand early in 2012.
Impala Platinum's Rustenberg Operations Remain Shut
South African miner Impala Platinum said on Monday its Rustenburg operations remained shut after the majority of workers staging an illegal strike over wages failed to return to work.
Centamin's 4Q Operating Profit More Than Doubles
Miner Centamin, which operates the first modern gold mine in Egypt, more than doubled its fourth-quarter operating profit and said it expects 2012 production to rise by more than 20 percent from last year, with cash costs easing.
Sandspring Resources Hikes Estimates on Guyana Project
Mineral exploration company Sandspring Resources Ltd raised its estimates for the measured and indicated resources at its Guyana gold-copper project and cut the project's pre-production capital costs.
Highland Gold Misses Reduced '11 Output Projection
ussian gold miner Highland Gold missed a reduced output forecast for 2011, producing 184,102 ounces of gold and gold equivalents during the year, citing poor ore quality at a key mine.
Hang Seng Shares Snap Six-Session Winning Streak
Hong Kong shares snapped a six-session winning streak on Monday, dragged down by Chinese banks and developers, as investors took profits on some recent outperformers while waiting to see if there will be a Greek debt-swap deal that averts a default.
Copper Falls on Concerns of Disorderly Greek Default
Copper fell on Monday, pulling back from a four-month high as demand prospects dimmed amid a lack of progress in talks to avoid a disorderly Greek default, tempting investors to cash in on January's rally.
U.S. Stock Futures Fall on Eurozone Worries
Stock index futures fell on Monday as concerns grew about the state of Europe's finances as Greece and Germany sparred over budget measures for Athens.
Spanair Ceases Operations, Cites Economic Crisis
Loss-making Spanish airline Spanair ceased operations on Friday night, grounding all its airplanes after its owner, citing the country's economic crisis, said it would not sink any more money into the company.
ExxonMobil Sells Stake in Japanese Refining Business for $4B
Japan's second-biggest refiner, TonenGeneral Sekiyu KK, said on Monday its $4-billion purchase of a controlling stake in itself from U.S. oil major Exxon Mobil Corp would help speed business decisions.
ABB Buying Thomas & Betts for $3.9 Billion
Swiss engineering group ABB said it had agreed to buy U.S. electrical components maker Thomas & Betts for $3.9 billion to ramp up its presence in the world's largest market for low-voltage products.
Gold Prices Slip on Profit Taking, Fears of Greek Default
Gold prices slipped Monday as the euro fell, global stocks declined and investors booked profits from recent gains.
European Shares Close Lower on Weak U.S. GDP Data
European shares ended down on Friday as disappointing U.S. economic data prompted investors to cash in January's gains, dragging the blue-chip index to its first weekly loss since mid-December.
Gold Prices Rise Again, Topping 10% for the Week
Gold prices posted a modest gain Friday, capping a three-day rally as well as a week in which the yellow metal jumped 4.15 percent.
Hedge Fund Bridgewater Assoc. Betting on Gold
The world's biggest hedge fund Bridgewater Associates posted returns of 23 percent in 2011, in a year when most of its peers underperformed the major stock market indexes, the New York Times reported, citing people familiar with the firm's investment strategy.
U.S. Stocks Fall after GDP Data Hints are Weak Q1
U.S. stocks fell on Friday after data showed the U.S. economy grew less than expected in the fourth quarter, while weak earnings from Ford and continued caution over Europe's debt crisis also weighed on the market.
BP Loses Bid to Shift $15B in Gulf of Mexico Oil Spill Costs
Oil giant BP has lost its attempt to shift over $15 billion of costs related to the Gulf of Mexico oil spill onto contractor Transocean, increasing the possibility BP may have to foot the entire $42 billion clean up bill.
Ford Reports Lower-Than-Expected 4Q on Higher Commodity Costs
Ford Motor Co reported a lower-than-expected fourth-quarter profit on Friday due to higher commodity costs and losses in its automotive operations in Europe and Asia.
U.S. Debt Prices Rise, Fed's Power May be Doubted
Treasury debt prices rose on Thursday, and five-year note yields dipped to the lowest level since at least the 1960s, a day after the Federal Reserve said it will likely hold interest rates near zero at least through late 2014.
World Stock Markets Steady Near 5 1/2-Month High
World stocks held steady near a 5-1/2 month high on Friday as investors anticipated an imminent conclusion to Greek debt talks while lower Spanish bond yields and a fall in Italy's six-month borrowing costs also supported the euro.
U.S. Stock Futures Point to Steady Open
Stock index futures pointed to a steady open on Wall Street on Friday, with futures for the S&P 500 up 0.02 percent, Dow Jones futures up 0.05 percent and Nasdaq 100 futures up 0.2 percent at 4 a.m. ET.
Gold Prices Consolidate Week's Gains of More Than 3%
Gold prices leveled off Friday, consolidating the week's dramatic gains, amid prospects for more increases next week and next month.
Starbucks Beats Street View, Revenue up 16%
Starbucks Corp's reported a quarterly profit that topped Wall Street's view after global economic worries failed to weaken demand for drinks and other products from the world's biggest coffee chain.
Russia-focused Gold Miner Petropavlovsk Sees Output Gain
Russia-focused gold miner Petropavlovsk said on Thursday its full year output will rise 11 percent to 680,000 ounces in 2012, having beaten last year's target on the back of higher output at its flagship Pioneer mine.
U.S. Durable Goods Orders up in December
New orders for manufactured goods rose in December and a gauge of future business investment rebounded, while new claims for jobless benefits rose only moderately last week, suggesting the labor market was still healing.
Avocet Mining's Full-Year Gold Production Beats Guidance
Gold miner Avocet Mining said full-year production beat its guidance after output from its flagship Inata project in Burkina Faso recovered strongly in the last three months of 2011, boosting its shares.
First Uranium 3Q Gold Sales Down 5%
First Uranium's third-quarter gold sales dropped 5 percent and uranium production fell 14 percent from the prior quarter due to accidents at its Ezulwini mine in South Africa, and the miner cut its full-year gold production forecast.
Caterpillar 4Q up 58% on Rising Global Demand
Caterpillar Inc (CAT.N) reported a 58 percent rise in quarterly earnings that far exceeded Wall Street expectations on Thursday due to increased global demand for construction machinery and mining equipment.
Time Warner Cable Quarterly Profit Rises
Time Warner Cable Inc's (TWC.N) quarterly profit rose as it added more residential customers for its broadband services than it had expected.
AT&T Posts Big Quarterly Loss on T-Mobile USA Break-up Fee
AT&T Inc (T.N) posted a massive quarterly loss due to a break-up fee for its failed T-Mobile USA merger and a pension-related charge on top of costly subsidies for smartphones such as Apple Inc's (AAPL.O) popular iPhone.
