The economy grew at a slower pace than previously estimated in the first quarter as businesses investment slackened, while hard-hit state and local governments curbed spending at the steepest rate since 1981, a government report showed on Thursday.
The economy grew at a slower pace than previously estimated in the first quarter as businesses investment slackened, while hard-hit state and local governments curbed spending at the steepest rate since 1981, a government report showed on Thursday.
The euro fell on Wednesday driven by fears that Europe's debt woes can wreak havoc in its banks, though Asian stocks rebounded from nine-month lows as value investors hunted for bargains.
Germany inched toward a wider ban on naked short selling of stocks and Italy approved austerity measures on Tuesday to contain a euro zone debt crisis that could lead U.S. officials to urge stress tests for European banks.
The euro fell broadly on Monday, pulling back from gains last week, after the Spanish central bank's takeover of a savings bank added to jitters about debt problems in some of the weak euro zone countries.
The United States suggested Europe's debt crisis would have minimal impact on global growth, but China took a more pessimistic view, warning it would impact demand for its exports and other regions would suffer too.
Pakistan has blocked the popular video sharing website YouTube indefinitely in a bid to contain blasphemous material, officials said on Thursday.
Trading systems briefly broke down at hedge fund firm Citadel Investment Group and trading firm Knight Capital Group Inc when the stock markets plunged on May 6, the Wall Street Journal said.
Stocks fell on Wednesday as Germany's decision to ban naked short-selling of certain financial instruments fueled investor worries about exposure to riskier assets and about the global economy.
U.S. stocks fell on Wednesday as Germany's decision to ban naked short-selling of certain financial instruments fueled investor worries about exposure to riskier assets and about the global economy.
U.S. credit card delinquencies fell for the fourth straight month in April, the latest indicator that Americans are recovering from the worst economic downturn since the Great Depression.
Stocks tumbled on Friday on worries that heavy euro-zone debt loads could stymie a global recovery, while Visa and MasterCard led the financial sector lower after the U.S. Senate backed limits on card fees.
Wall Street was poised to open lower on Friday, weighed by worries about the impact of heavy euro-zone debt loads on the global recovery.
The largest U.S. banks would be required to submit to regulators plans for their dismantling in times of severe distress, and securitizations with higher underlying standards would get federal protection, under two proposals to be considered by the Federal Deposit Insurance Corp on Tuesday.
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.
U.S. stocks fell for a second day on Wednesday as Greece's sovereign debt crisis spread and Moody's Investors Service warned Portugal could be next to have its debt downgraded.
U.S. gold futures dropped to a one-week low on Wednesday as investors opted for cash to cover equities losses, but the risk of contagion spreading in the euro zone beyond Greece provided support to prices, traders said.
U.S. stock index futures fell on Wednesday as investors continued to anxiously eye the Greek sovereign debt crisis and its potential contagion.
A tumble in global stocks spread to Asia on Wednesday as fears heightened that Greece's debt woes could spread to other countries, which pushed the euro down to one-year lows against the dollar.
U.S. stock index futures sank on Tuesday on continued worries over Greece's financial state and after a broad rally in the previous session that took the S&P 500 to its biggest day in two months.
U.S. stock index futures fell on Tuesday after a broad rally in the previous that took the S&P 500 to its best day in two months as investors fretted over whether Greece could make deep spending cuts.
