The euro has pulled back from a four-year low against the dollar, although fears over the strength of the eurozone economy remain.
The euro fell to $1.2237 in early trade on Monday, but then recovered to trade at $1.2377.
Traders fear that the austerity measures being put in place in many eurozone countries will hit growth.
Elsewhere on [...]
Posts Tagged ‘Global Economy’
Euro touches four-year low against dollar
May 17th, 2010 by Financial Writer
Tags: business, economic recovery, euro zone, european economy, european union, financial, financial crisis, financial markets, financial system, Global Economy, IMF, interest rates, us economy
more...Gold Prices Extend Climb
May 12th, 2010 by Financial Writer
NEW YORK—Gold futures remained in record territory as a safe haven and currency hedge amid worries on the long-term efficacy of the euro-zone bailout package.
Most actively traded gold, for June delivery, in recent activity was up $16.10, or 1.3%, at $1,236.40 an ounce on the Comex division of the New York Mercantile Exchange. In electronic [...]
Tags: banks, euro zone, european central bank, european union, financial, financial markets, financial system, Global Economy, IMF, interest rates, investors, stock market, us economy
U.S. Stocks Surge After Announcement of European Loan Package
May 10th, 2010 by Financial Writer
U.S. stocks rallied, with the Standard & Poor’s 500 Index gaining the most intraday since April 2009, after European policy makers unveiled loan package valued at almost $1 trillion to contain a sovereign-debt crisis.
Citigroup Inc., Bank of America Corp. and Morgan Stanley jumped more than 4 percent. Schlumberger Ltd. and Chevron Corp. followed oil prices [...]
Tags: bank, Dow Jones Industrial, economy, european central bank, european union, financial, financial markets, Global Economy, IMF, investors, stock market, us stocks
EU Finance Ministers Race to Ready Euro Fund Before Asia Opens
May 8th, 2010 by Financial Writer
EU Finance Ministers Race to Ready Euro Fund Before Asia Opens.
European Union finance ministers meet today to hammer out the details of an emergency fund to prevent a sovereign debt crisis from shattering confidence in the 11- year-old euro.
Jolted into action by last week’s slide in the currency to the lowest in 14 months and [...]
Tags: borrowers, economic recovery, economy, economy recovery, Europe, financial, financial crisis, Global Economy, recession, USA
U.S. economy added 290,000 jobs in April
May 7th, 2010 by Financial Writer
Jobless rate rises to 9.9 percent as size of labor force increased
WASHINGTON - U.S. employment grew at the fastest pace in four years in April as private sector businesses ramped up hiring, showing the labor market recovery gaining steam.
Employers added 290,000 jobs in April, the Labor Department said Friday, far more than analysts had expected. [...]
Tags: barack obama, businesses, financial markets, Global Economy, stock market, unemployment rate, us economic recovery, us economy, us employment, us job market, USA
As China tries to rein in economy, stock exchange stumbles
May 4th, 2010 by Financial Writer
The Shanghai composite index slides 1.2% on news that the central bank will – again — hike the amount of capital banks are required to hold in reserve.
Reporting from Beijing
China’s leading stock exchange continued its long slide Tuesday, tumbling to its lowest close in seven months after the central government introduced another measure over the [...]
Tags: banks, central bank, China, economic recovery, economy, financial, Global Economy, interest rates, investors, money, stock market
US Stocks Open Mixed After GDP, Financials Weak On Goldman Probe
April 30th, 2010 by Financial Writer
NEW YORK (Dow Jones)–U.S. blue-chip stocks edged up after consumer spending rose within the first-quarter gross domestic product, but financials weakened after federal prosecutors launched a probe into Goldman Sachs.
The Dow Jones Industrial Average edged up 11 points, or 0.1%, to 11178 in early trading, putting it on track to close up for the third [...]
Tags: Dow Jones Industrial, economic, european union, financial, financial system, Global Economy, IMF, mortgages, stock market, us economy, us stocks
Barrick Profit Tops Estimate on Higher Gold Price
April 28th, 2010 by Financial Writer
Barrick Gold Corp., the world’s largest bullion producer, reported first-quarter profit that beat analysts’ estimates as prices and sales of the precious metal climbed.
Net income more than doubled to $758 million, or 76 cents a share, from $371 million, or 42 cents, a year earlier, Toronto- based Barrick said today in a statement. Profit excluding [...]
Tags: business, economy, financial, financial markets, financial system, Global Economy, gold price, investors
CIT Group Gains After Reorganized Lender Posts Surprise Profit
April 27th, 2010 by Financial Writer
CIT Group Inc., the commercial lender run by John A. Thain, rose in New York trading after posting a surprise profit for its first full quarter since emerging from bankruptcy.
CIT gained 79 cents, or 1.9 percent, to $41.49, as of 10:28 a.m. in New York Stock Exchange composite trading and sold for as much as [...]
Tags: economy, financial, financial markets, financial system, Global Economy, interest rates, investors, lender, us economy
OIL FUTURES: Oil Weakens Post-Rally, Traders Eye Fed Meeting
April 26th, 2010 by Financial Writer
Crude oil futures declined Monday morning, losing ground as traders feared last week’s strong economic data that pushed oil above $85 a barrel may also push the Federal Reserve closer toward eventually raising interest rates.
Light, sweet crude for June delivery declined 56 cents to $84.56 a barrel on the New York Mercantile Exchange. Brent crude [...]
Tags: business, economy, Federal Reserve, financial, financial markets, Global Economy, Global Recession, investors, oil prices
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