Global oil prices continued its overnight gains in Asian trade Wednesday mainly on signs of increase in fuel demand amid strong stocks and weak dollar. Light sweet crude for August delivery was seen trading at $77.19 a barrel at 11.30 a.m Singapore time while Brent crude was at $ 76.75 a barrel in London. Stock markets across Asia rose to a three-week high, following the sixth straight rally for Wall Street, led by the technology sector after chip-maker Intel results beat expectations.
Wholesales sales fell unexpectedly for the first time in more than a year, lifting inventories to their highest level in 11 months, a government report showed on Friday.
Oil edged up toward $76 a barrel on Friday and was heading for a weekly gain of more than 4 percent, after a drop in U.S. inventories and positive economic indicators lifted sentiment across markets.
European shares drifted higher on Friday for a fourth straight session, supported by soothing U.S. jobless and retail sales numbers. Wall Street rose in early trade, while the euro slipped off two-month highs against the dollar.
No. 1 U.S. warehouse club operator Costco Wholesale Corp saw June sales at stores open at least a year rise 4 percent, marginally missing market expectations, as it was hurt by the Memorial Day holiday shift.
Oil reversed early losses, rising more than $1 from Tuesday's trough, as the dollar tumbled and Asian stock markets rebounded amid easing concern about the slowdown in the global economic recovery.
U.S. crude for August delivery climbed 44 cents to $72.58 a barrel by 0731 GMT (3:31 a.m. EDT), after earlier falling as much as $1.05 to $71.09 a barrel, its lowest since June 8 and down 1.5 percent from Friday's settlement.
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Netherlands-based Layar, a provider of augmented reality software, signed deals to be distributed on a third of smartphones worldwide and predicted a boost in the use of its technology, which combines real-world images with computer-generated images on a screen.
Oil trimmed earlier losses and was trading above $77 a barrel on Thursday, as anxiety over Spain's public finances eased in global markets following the results of its well covered bond auction.
General Mills Inc has begun investigating a hoax press release that said U.S. President Barack Obama had ordered a probe into the cereal maker's supply chain.
Best Buy reported lower-than-expected sales and profit, hurt by rising costs of expanding its business and weaker consumer demand, sending its shares down 6 percent.
A bidder is offering to pay $1,500,100 for a steak lunch with the billionaire investor Warren Buffett, driving the top bid more than $500,000 higher in seven minutes as the annual charity auction on eBay Inc's website heads into the homestretch.
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.
World oil prices eased below $70 a barrel in Asian trade Monday as markets sentiment remained weaker after last weeks disappointed US jobs report. Light sweet crude for july delivery was seen trading at $69.71 a barrel at 11.00 a.m Singapore time while Brent crude for July was at $70.63 a barrel in London.
Luxury groups are finally warming to the Internet, lured by surging sales and a wider audience for their brands, though lingering suspicions could limit the level of online penetration compared with the wider retail sector.
May brought lackluster sales results for U.S. retailers, with discount chains turning in the strongest performance, as consumers again showed their cautious side in a seasonally weak period for spending.
May brought mixed sales results for retailers, with early reports on Thursday suggesting an erratic recovery in consumer spending during a seasonally weaker period of shopping.
Retailers are expected to show a sizable increase in sales for the month of May, but erratic trends of consumer spending could grow more pronounced over a seasonally weaker period for shopping.
NEW YORK/DENVER - Seeking information on possible price fixing in the digital music marketplace, the U.S. Department of Justice contacted the legal departments of the major record labels as part of an initial inquiry into Apple, sources tell Billboard.
As many as 20 bidders are interested in buying software company Novell Inc , which has put itself up for sale and is this week accepting bids, the Wall Street Journal reported on Wednesday.
Yahoo said on Tuesday it has agreed to acquire the user-generated publishing company Associated Content to add more pages to attract advertisers.
American industry learned something back in the 1970s when it was getting overpowered by the Japanese. It learned not to make assumptions about competitors and customers.
With high vacancy rates and extremely low prices, the commercial real estate market is going through tough times. For many practitioners and brokerages today, it's more about survival than success.
