Oil prices rise on Bernanke speech
2012-08-31 17:04:11 UTC
NEW YORK (AP) — The price of oil jumped 1.7 percent Friday after Federal Reserve Chairman Ben Bernanke made clear in a speech that the central bank will do more to revive the U.S. economy.
U.S benchmark crude rose $1.59 to $96.21 per barrel in morning trading Friday. Brent Crude, which is used...
Asia stocks mostly down amid economic uncertainty
2012-08-30 05:20:26 UTC
TOKYO (AP) — Shares were mostly lower in Asia on Thursday, as wary investors watched for U.S. moves to spur growth, shrugging off an upward revision in U.S. economic growth figures.
The Tokyo Stock Exchange's benchmark Nikkei fell 0.7 percent to 9,004.47 and South Korea's Kospi slipped 1.5 per...
Oil falls on supply; G-7 wants more production
2012-08-29 18:05:23 UTC
Oil fell Wednesday as U.S. supplies rose for the first time in a month and finance ministers from leading industrialized nations pleaded with top producers to boost crude production to help lower crude prices and help the global economy.
Traders also awaited assessments of any damage from Hu...
Oil prices fall amid calls for increased output
2012-08-29 06:04:03 UTC
BANGKOK (AP) — Crude prices fell Wednesday after finance ministers from the world's leading industrialized economies called on oil producers to increase output and said they stood ready to ask the International Energy Agency to release strategic reserves.
Benchmark oil for October delivery fel...
Oil rises as storm barrels thru Gulf of Mexico
2012-08-27 06:06:59 UTC
BANGKOK (AP) — Oil prices rose Monday as Tropical Storm Isaac barreled across the Gulf of Mexico and toward the U.S. mainland, picking up strength and threatening oil and refining operations. An explosion at a refinery in Venezuela also pushed prices higher.
Benchmark crude for October deliver...
Asia stocks rise after Fed hints of help for US
2012-08-23 02:27:53 UTC
BANGKOK (AP) — Asian stock markets were mostly higher early Thursday as investors weighed the possibility that more help for the U.S. economy from the Federal Reserve might be on the way.
Stocks got a boost from the release of minutes the last major meeting of the Fed, which showed members o...
Chinese solar industry faces weak sales, price war
2012-08-22 06:58:46 UTC
BEIJING (AP) — Chinese solar panel makers that grew fast over the past decade are suffering big losses due to slumping global sales and a price war that threaten an industry seen by communist leaders as a role model for hopes to transform China into a technology leader.
Another looming challen...
Hopes for European rescue plan underpin markets
2012-08-21 16:11:17 UTC
LONDON (AP) — Hopes that the European Central Bank will reach a deal to help Spain and Italy borrow at cheaper rates nudged financial markets higher on Tuesday.
Investors are increasingly convinced that the ECB will buy some eurozone countries' government bonds to help reduce their borrowing...
Futures rise on hope of bold action in Europe
2012-08-21 12:58:53 UTC
NEW YORK (AP) — U.S. market futures are moving higher on new hopes that the European Union will step in to prop up the continent's most troubled nations.
Anticipation is already driving down borrowing rates for nations like Spain, where the cost of raising money had recently hit dangerous leve...
Stocks slip, but Apple sets a record
2012-08-20 20:57:17 UTC
NEW YORK (AP) — Stocks slipped Monday in one of the quietest trading sessions of the year. Worries about European debt crept up again, and Apple became the most valuable company of all time.
The Dow Jones industrial average fell 3.56 points, or 0.3 percent, at 13,271.64. The Standard & Poor'...
Oil stays above $96 on consumer confidence
2012-08-20 05:17:31 UTC
BANGKOK (AP) — Oil prices rose for a fifth straight day of gains Monday, on the back of rising consumer confidence in the U.S. economy.
Benchmark oil for September delivery rose 30 cents to $96.31 per barrel in midday Bangkok time in electronic trading on the New York Mercantile Exchange. The ...
Asia stocks retreat on gloomy economic outlook
2012-08-15 06:35:20 UTC
BANGKOK (AP) — Asian stocks fell Wednesday as recession among euro nations and slowing growth in China offset flickers of improvement in the U.S. economy.
Americans increased their retail spending in July by the most in five months, a gain of 0.8 percent over June, according to government figu...
Weak Asia data shows growing toll from downturn
2012-08-10 12:26:12 UTC
HONG KONG (AP) — A slew of gloomy economic reports from Asian nations show that Europe's debt crisis and the broader global downturn are taking a growing toll on the region even as governments respond with extra spending and lower lending rates.
Hong Kong and Singapore, both Asian financial ce...
US stocks rise; Knight Capital gets lifeline
2012-08-07 00:07:27 UTC
NEW YORK (AP) — U.S. stocks edged higher on a day marked by uncharacteristic quiet following a turbulent week.
In the absence of major economic news, stocks were riding a tailwind of optimism from the most recent U.S. job numbers released last week and hope for more action by European authorit...
Refinery problems, spill drive up Great Lakes gas
2012-08-04 14:23:04 UTC
MADISON, Wis. (AP) — A rare combination of pipeline and refinery problems has exacerbated already rising gas prices in the Great Lakes region, leading to surges of around 35 cents per gallon in just one week, officials said Friday.
Michigan's statewide average price for a gallon of regular unl...
Oil surges 5 percent on strong jobs growth
2012-08-04 14:18:53 UTC
NEW YORK (AP) — The price of oil posted its biggest gain in more than month, jumping nearly 5 percent, after the government reported a sharp rise in jobs growth for July.
Benchmark U.S. crude on Friday rose $4.27 to end the day at $91.40 per barrel in New York. Brent crude, which sets the pric...
Stocks largely up ahead of Fed meeting
2012-08-01 16:01:47 UTC
LONDON (AP) — Stocks recovered their poise Wednesday as investors awaited the Federal Reserve's latest policy statement and an announcement from the European Central Bank as to how it plans to combat Europe's debt crisis.
The consensus in the markets is that the Fed won't do anything dramatic ...
Stocks drift lower on Wall Street; Shaw soars
2012-07-30 16:28:38 UTC
NEW YORK (AP) — U.S. stocks drifted lower Monday, following big gains last week on expectations that European leaders would take action to calm the region's debt crisis.
The Dow Jones industrial average is down 20 points to 13,055 shortly after noon. JPMorgan Chase led the Dow lower, falling 2...
Asia stocks rise on continued hopes for ECB action
2012-07-30 05:24:06 UTC
BANGKOK (AP) — Asian stock markets rose again Monday as expectations remained high for strong European Central Bank action to stem the continent's chronic debt crisis.
Sentiment was also helped by U.S. second quarter growth not slowing as much as feared. The world's No. 1 economy grew just 1.5...
Tough EU stance? It's in Germany's culture
2012-07-27 08:53:59 UTC
BERLIN (AP) — Head to the checkout at an Ikea in Stockholm to pay for your new leather corner sofa and with the swipe of a Visa card it's yours. Don't try that in Berlin — that'll be €1,699 ($2,080) up front please.
It's that financial culture — a deep-seated aversion to debt and an emphasis o...
Asia stocks rise but weak SKorea data limits gains
2012-07-26 07:52:50 UTC
BANGKOK (AP) — Asian stock markets rose Thursday amid hopes Europe will give its bailout fund more financial firepower but gains were tempered as South Korea reported its economic growth slowed to a two-year low.
Markets have been rattled over the past few days by fears that Spain, the fourth-...
Apple sags as consumers buy cheaper iPhones
2012-07-25 08:12:30 UTC
NEW YORK (AP) — More consumers are buying the least expensive iPhones and iPads, a new phenomenon that is causing Apple's breakneck growth rate to slow.
On Tuesday, Apple Inc. revealed that both revenue and net income posted increases of just over 20 percent — cause for celebration at most com...
Oil falls to near $89 amid Europe, China jitters
2012-07-23 11:01:41 UTC
LONDON (AP) — The price of oil sank toward $89 a barrel Monday as a flare-up in Europe's debt crisis and concern over Chinese economic growth suggested demand for crude will weaken.
The benchmark crude futures contract for September delivery was down $2.55 at $89.28 a barrel by late morning Eu...
DirecTV customers: Sponge Bob is back
2012-07-20 12:14:59 UTC
EL SEGUNDO, Calif. (AP) — DirectTV subscribers who want their MTV, Sponge Bob SquarePants or comedian Jon Stewart are getting their wish.
Viacom Inc. and the satellite TV service provider said Friday that they have settled a dispute that had cut off access to 17 Viacom channels for DirectTV su...
Intel 2Q earnings fall, sees economic headwinds
2012-07-17 22:50:09 UTC
NEW YORK (AP) — Intel Corp., the world's largest chipmaker, said Tuesday that the weak global economy is slowing its growth, and revenue for the current quarter is likely to come in below Wall Street forecasts.
Intel's second-quarter net income was $2.83 billion, or 54 cents per share. That wa...