Headline

  • Oil starts week at lowest level in 2012
    Oil 2012-05-14 17:23:58 UTC
    NEW YORK (AP) — The price of oil has declined to its low for the year on continued doubts about Europe's ability to pay off massive government debts. Benchmark U.S. crude lost $1.57 to $94.56 per barrel in New York. It dipped to $93.65 per barrel earlier in the day, the lowest since mid-Decemb...

  • A black mark for survivor of financial crisis
    Is_recession_looming__us_household_debt_jumps_to_a_new_record_high 2012-05-12 23:56:59 UTC
    NEW YORK (AP) — The reputation that Jamie Dimon honed for decades on Wall Street has been severely damaged in a matter of days. In the 1980s and 1990s, he was the protege of banking industry legend Sanford Weill. In the early 2000s, he took over Bank One, an institution few believed was fixabl...

  • Is Europe a safe place to buy? Not exactly
    Euro-diaalnews.com 2012-05-12 16:24:40 UTC
    NEW YORK (AP) — It often pays to zig when everybody else zags. If you were brave enough to put cash into the stock market three years ago — and very few small investors were — you've doubled your money. European stocks have lost about 15 percent since mid-March. Renewed worries about the regio...

  • Stock market inches higher despite bank slump
    Jpmorgan-chase 2012-05-11 17:31:50 UTC
    JPMorgan's surprise $2 billion trading loss prompted a sell-off in financial stocks Friday, but the broader market edged higher as investors decided this was a problem for investment banks and not other industries. The Dow Jones industrial average rose 11 points in midday trading after bouncin...

  • Irish pose next democratic test for EU austerity
    Untitled 2012-05-11 13:47:10 UTC
    DUBLIN (AP) — When voters in Greece and France got the chance, they dealt a resounding "No!" to parties backing austerity measures. The Irish could be next to give the European Union's austerity plan a black eye. A May 31 referendum here asks the public to approve an EU treaty that aims to con...

  • Bank stocks hurt after surprise $2B JPMorgan loss
    U.s._car_insurance_study_recommends_design_changes_to_improve_safety 2012-05-11 13:13:54 UTC
    Bank stocks were hammered in Britain and the United States on Friday, partly because of fear that a surprise $2 billion trading loss by JPMorgan Chase would lead to tougher regulation of financial institutions. In Britain, shares of Barclays and Royal Bank of Scotland were down more than 2 per...

  • Postal Service loses $3.2B in 2nd quarter
    Gty_post_office_dm_120413_wg 2012-05-10 19:36:08 UTC
    WASHINGTON (AP) — Drowning in red ink, the U.S. Postal Service on Thursday reported a quarterly loss of $3.2 billion and blamed Congress for blocking the agency's cost-cutting efforts to offset declining mail volume and mounting costs for future retiree health benefits. From January to March, ...

  • Hopes rise for Greece power-sharing talks
    539w 2012-05-10 18:29:42 UTC
    ATHENS, Greece (AP) — Hopes rose slightly Thursday that Greece could end its post-electoral deadlock without having to hold new elections, as international partners warned that Athens must stick to its hugely unpopular austerity program or abandon the euro. Socialist leader Evangelos Venizelos...

  • News Corp 3Q beats Street despite probe costs
    Untitled 2012-05-10 01:27:54 UTC
    LOS ANGELES (AP) — Rupert Murdoch's News Corp., the global media conglomerate under fire for phone hacking and alleged bribery in Britain, posted a 47 percent increase in third-quarter net income thanks to strong performances at its U.S. pay TV networks and movie studio. The results beat analy...

  • Oil rises after China trade exceeds expectations
    Oil 2013-02-08 06:47:16 UTC
    BANGKOK (AP) — Oil prices rose above $96 a barrel Friday after China reported better-than-expected monthly trade data, a sign that its economic recovery is gaining traction. Benchmark oil for March delivery was up 25 cents to $96.08 at midday Bangkok time in electronic trading on the ...

  • AP-World-Markets/588 Asia stocks fall amid Greek political chaos
    Data 2012-05-09 07:12:32 UTC
    BANGKOK (AP) — Asian stock markets fell Wednesday, spooked by disappointing U.S. corporate earnings and fears that political turmoil in debt-crippled Greece is pushing it closer to financial disaster. Japan's Nikkei 225 index fell 1.5 percent to hit a three-month intraday low of 9,021.20 as tr...

  • Aviva CEO quits after shareholder revolt on pay
    Untitled 2012-05-08 10:08:39 UTC
    LONDON (AP) — The chief executive of Aviva, Britain's largest insurer, has resigned following a shareholder revolt over executive pay, the company said Tuesday. The company gave no explanation for the decision by Andrew Moss, who had been CEO since 2007, to step down a week after shareholders ...

  • Beyonce Knowles: I want more kids
    Bildschirmfoto_2012-05-08_um_12.00.54 2012-05-08 10:00:19 UTC
    Beyoncé Knowles "definitely" wants more children after giving birth to her first daughter. The singer and her husband Jay-Z welcomed Blue Ivy into the world in January. She is already thinking of expanding her brood. "I definitely want to have more," she told ET Online. "I don't know ...

  • Aviva CEO quits after shareholder revolt on pay
    Untitled 2012-05-08 10:06:54 UTC
    LONDON (AP) - The chief executive of Aviva, Britain's largest insurer, has resigned following a shareholder revolt over executive pay, the company said Tuesday. The company gave no explanation for the decision by Andrew Moss, who had been CEO since 2007, to step down a week after shareholders ...

  • Asia stocks rise as Europe shockwaves fade
    Asian-stocks-japan-may-8-2012 2012-05-08 09:54:43 UTC
    BANGKOK (AP) — Asian stock markets staged a modest recovery Tuesday as the initial shockwaves from election results in Europe faded. Trading is expected to remain volatile as Greece struggles to form a government after voters punished pro-austerity parties. Japan's Nikkei 225 index edged up 0....

  • US stocks under pressure after European elections
    Us_market 2012-05-07 15:49:25 UTC
    NEW YORK (AP) — U.S. stocks are under pressure after angry voters in Greece and France rejected painful budget cuts demanded by international lenders. Investors are uncertain over how the results will affect Europe's plans to rein in spending and keep the euro zone's debt crisis from worsening...

  • Markets could stumble after France, Greece votes
    Photo_1336344239287-1-0 2012-05-07 00:26:27 UTC
    WASHINGTON (AP) — Financial markets will likely stumble this week after elections in Greece and France cast a pall of uncertainty over Europe's efforts to solve its debt crisis. On Sunday night, the euro plunged to $1.2988, a nearly five-month low. Greek voters on Sunday voted mostly for tw...

  • Buffett's health on minds of Berkshire investors
    Buffett_rebukes_trump_for_taking_credit_for_us_economic_growth 2012-05-05 16:49:24 UTC
    OMAHA, Neb. (AP) — While 81-year-old Warren Buffett's health has been on investors' minds, many shareholders at Berkshire Hathaway's annual meeting said Saturday that they aren't that worried about Buffett's prostate cancer diagnosis. More than 30,000 people are expected to fill Omaha's downto...

  • Yahoo CEO faces calls for ouster after inaccuracy
    Yahoo_ceo 2012-05-05 07:57:57 UTC
    SAN FRANCISCO (AP) — Scott Thompson's reign as Yahoo's CEO is in jeopardy after just four months on the job because he allowed an inaccuracy about his academic credentials to recur for years. A major Yahoo shareholder who exposed the fabrication is now leading the charge to oust Thompson for u...

  • Presidential rivals fight over France's economy
    France-economy_0 2012-05-04 18:27:46 UTC
    PARIS (AP) — When he came to power in 2007, President Nicolas Sarkozy seemed just the man to shake up France's sclerotic economy with his promises of a break from the past. However, any optimism surrounding his victory five years ago has been replaced by cynicism and recrimination. Socialist c...

  • Asia stocks slip on weakness in US retail sales
    Data 2012-05-04 06:30:49 UTC
    BANGKOK (AP) — Asian stock markets were mostly lower Friday after disappointing U.S. retail sales stirred concerns about the robustness of the recovery in the world's No. 1 economy. Major retailers such as Costco and Macy's reported that April revenue rose less that 1 percent — the worst perfo...

  • April retail sales worst since 2009
    Article-2097704-0f3cc74d00000578-522_468x286 2012-05-03 18:22:23 UTC
    NEW YORK (AP) — Americans' spending — much like the economy — continues to yo-yo. Major retailers such as Costco and Macy's reported on Thursday that April revenue rose less that 1 percent in the worst performance since 2009 when the U.S. economy was just coming out of a bad recession. The ...

  • Eurozone unemployment hits record high
    724op4810oabxhz2na33zrxxmiehlod 2012-05-02 19:24:02 UTC
    LONDON (AP) — Pressure is growing on Europe's leaders to focus less on austerity and more on stimulating growth as the 17 countries that use the euro face record high unemployment and a recession that is spreading across the region. Eurozone unemployment rose by 169,000 in March, official figu...

  • Oil near $102 on Egypt protests, US demand outlook
    Oil-rises1 2013-07-03 07:09:49 UTC
    BANGKOK (AP) — The price of oil neared $102 a barrel Wednesday for the first time since May last year as Egypt's political crisis intensified, raising the risk of fuel supply disruptions. Benchmark crude for August delivery was up $2.07 to $101.65 a barrel at midday Bangkok time in electronic ...

  • UK lawmakers: Rupert Murdoch unfit to lead company
    Rupert_murdoch's_fox_news_remains_greatest_threat_to_democracy_in_u.s. 2012-05-01 15:57:24 UTC
    LONDON (AP) — News Corp. chief Rupert Murdoch must take responsibility for serious failings that caused Britain's tabloid phone hacking scandal, lawmakers said Tuesday in a scathing report — as a narrow majority also insisted the tycoon was unfit to lead his global media empire. In a report on...