Inflation fears took a back seat - allowing Wall Street to have its best day in just over a week. The Dow rallied 165 points. The S&P 500 climbed 20 and the Nasdaq jumped 50. It was a mixed picture for the week. The Dow rallied less than a percent, the Nasdaq fell by a similar amount. Consumer prices in May rose by their biggest measure in six months - led by a jump in gasoline prices. But excluding volatile food and energy - the inflation picture was less worrisome. A small rise in the so-called core CPI matched forecasts - soothing fears inflation is out of control. A drop in crude prices also led to fewer inflation worries. Saudi Arabia is reportedly considering a significant boost in production to near record levels. A stronger dollar also helped knock oil prices lower. Crude settled the week under $135 a barrel. But high prices for food and energy continue to plague shopping attitudes. Consumer sentiment tumbled to fresh 28-year lows in early June, according to a Reuters...
A bit of a bounce for battered stock markets. Asian shares were cautiously higher on Monday after G-7 officials took steps to repair the world's broken financial system. Many nations agreed to...
Brown said: "This crisis demonstrates beyond doubt that a global capital market requires much stronger global cooperation and supervision. And we need to ensure that we have an effective global...
Hong Kong shares rebound on Thursday(October 9), after recording a nearly 13 percent slide so far this week, helped by coordinated central bank action around the world and a raft of favourable...
Asia stocks slid on Monday with investors worried about rising inflation and sluggish U.S. economic growth. Japan's benchmark Nikkei fell 2.3 percent (13,690) its biggest fall in six weeks....
Asia stocks largely gained on Thursday with investors gaining confidence following solid business spending data out of the United States. Japan's Nikkei rose 3 percent (14,124) its best daily gain...
After more than two decades in the international banking doldrums, Japan is back. Japan's Nomura Holdings is to pay up to $525 million for Lehman's Asia Pacific franchise and is front-runner to...
After more than two decades in the international banking doldrums, Japan is back. Japan's Nomura has agreed to buy Lehman Brothers' equities and investment banking business in Europe and the...
Asia stocks fell on Friday with inflation worries magnified by record high oil prices and slowing economic growth. News that Japan's annual inflation rate rose to a decade high also unnerved...
A smaller increase in the price of gasoline meant Canada's annual inflation rate slid to 1.4 per cent in March - the lowest growth rate since January 2007, Statistics Canada said Thursday. The...
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