Finance - Global Gathering

US deficit looms large despite April surplus

2012-05-10 18:24:31 UTC

WASHINGTON (AP) — The U.S. government took in more money than it spent in April, the first monthly surplus in nearly four years. But that black ink won't last. The federal government is on track to exceed a $1 trillion deficit for the fourth straight year, keeping the contentious issue front and center during the 2012 presidential e...

Aviva CEO quits after shareholder revolt on pay

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 voted against the company's decisions on...

Presidential rivals fight over France's economy

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 However, any optimism surrounding his victory five years ago has been replaced by cynicism and recrimination.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 challenger Francois Hollande, whom polls ...

US factory orders fell in March by most in 3 years

2012-05-02 19:54:58 UTC

WASHINGTON (AP) — Demand for U.S. factory goods dropped in March by the most in three years, driven lower by a sharp fall in volatile orders for commercial aircraft. Still, more recent data suggest the decline may be temporary. The Commerce Department said Wednesday that orders for factory goods fell 1.5 percent. That was the steepe...

NYSE Euronext results falter on failed merger

2012-04-30 20:53:02 UTC

NEW YORK (AP) — The exchange operator NYSE Euronext said Monday that its first-quarter earnings tumbled 44 percent on weaker trading and its failed combination with Deutsche Boerse AG. Its shares fell nearly 6 percent in afternoon trading. CEO Duncan L. Niederauer said on a conference call that there has been "modest improvement ...

Tech exec gets 22 years prison for $30M fraud

2012-04-30 19:02:22 UTC

SAN FRANCISCO (AP) — A former high-tech executive convicted of defrauding investors of at least $30 million on Monday was given one of the harshest sentences meted out in a white-collar criminal case. A federal judge in San Francisco sentenced Samuel "Mouli" Cohen to 22 years in prison. Judge Charles Breyer also set a Thursday heari...

Italy pays higher yields in pair of bond auctions

2012-04-27 20:22:01 UTC

MILAN (AP) — Italy was forced to pay higher interest rates Friday to entice investors to buy a little under €5 billion ($6.6 billion) worth of its 5- and 10-year bonds as jitters over Europe's debt problems have resurfaced. Investors demanded yields of 5.84 percent on the 10 year-bonds, compared with 5.24 percent last month. On the ...

Markets brush aside more grim Spanish news

2012-04-27 20:16:42 UTC

LONDON (AP) — Investors brushed aside more grim Spanish financial news and lower-than-anticipated U.S. economic growth figures, helping stocks to rally at the end of what has turned out to be a solid week for markets. Over the past couple of weeks, investors have grown increasingly jittery over Europe's debt crisis as well as the st...

Why 'Sell in May' doesn't work for investors

2012-04-27 20:07:28 UTC

NEW YORK (AP) — It's simple to understand, and has a nice ring to it. It's made some investors look like geniuses recently. Say it enough and you might even believe it. Too bad "Sell in May and go away" doesn't work. The idea behind the popular investing strategy is that you can make more money in stocks by avoiding the summer an...

Stocks edge higher on Wall Street; Amazon surges

2012-04-27 20:03:44 UTC

NEW YORK (AP) — Stocks are trading slightly higher late Friday as investors weigh corporate profit gains against disappointing economic news. The Dow Jones industrial average rose 36 points to 13,241 at 3:45 p.m. The Standard & Poor's 500 edged up four points to 1,404. The Nasdaq composite rose 20 points to 3,071. Amazon rose 16 ...

A weaker first quarter doesn't mean a weak year

2012-04-27 19:39:44 UTC

WASHINGTON (AP) — The U.S. economy grew more slowly in the first three months of this year. Governments spent less, and businesses cut back on investment. But consumers spent at the fastest pace in more than a year. The result suggests that the economy will continue to expand, slowly but steadily. The Commerce Department estimate...

Senate Dems ready bill freezing student loan costs

2012-04-25 18:08:08 UTC

WASHINGTON (AP) — President Barack Obama is playing politics with his push to prevent interest rates on federal student loans from increasing in an election-year effort to embarrass Republicans, the Senate's GOP leader said Wednesday. Senate Minority Leader Mitch McConnell, R-Ky., aimed his remarks at Obama as the president spent a ...

Oil prices decline on growing supply

2012-04-25 18:03:54 UTC

NEW YORK (AP) — Oil prices dropped slightly on Wednesday after the government reported an increase in U.S. supplies. Benchmark West Texas Intermediate crude lost 22 cents to $103.33 per barrel in New York. Brent crude, which sets the price of oil imported into the U.S., lost 28 cents to $117.88 per barrel in London. Prices dipped...

US orders for long-lasting goods plunge in March

2012-04-25 17:37:52 UTC

WASHINGTON (AP) — Orders for long-lasting factory goods fell by the largest amount in three years last month, mostly because demand for commercial aircraft plummeted. But companies also ordered less machinery and other equipment, a sign manufacturing output may slow. Orders for durable goods dropped 4.2 percent in March, the steepes...

Fed: Economy growing moderately; no policy changes

2012-04-25 17:24:48 UTC

WASHINGTON (AP) — The Federal Reserve says the economy is growing moderately while cautioning that risks from Europe remain. It's holding off on taking any further steps to boost the recovery. In a statement after a two-day meeting, the Fed said Wednesday that the job market has improved slightly but that unemployment remains elevat...

Germany's Merkel defends budget discipline drive

2012-04-24 15:55:21 UTC

BERLIN (AP) — Germany defended its pro-austerity stance on Tuesday, with Chancellor Angela Merkel and two ministers pressing for Europe to stick with a policy of fiscal discipline in spite of the latest bout of political uncertainty. Financial markets in the 17 countries that use the euro were shaken Monday by concerns that an agree...

Choose The Best Loan For Your Business

2020-12-05 23:49:52 UTC

To help you find the right business loan, we researched and analyzed dozens of options. Here is a roundup of our 2021 best picks, followed by an explanation of how we chose them. • How to choose the best loan for your business? • What type of business loan is best for your business? • What to expect in 2021? <strong>Rapid...