- US Trade Deficit Plunged To $46 Billion In February
April 12 2012 9:32 AM
The U.S. trade deficit narrowed unexpectedly in February as exports hit a record high, imports from China and other key suppliers declined and oil import volume fell to the lowest in 15 years, a government report showed on Thursday.
- Fed's Dudley: Too Soon To Say US Economy Out Of Danger
April 12 2012 9:15 AM
The disappointing performance of the U.S. labor market in March shows it is too early to conclude the economy is out of the woods, despite months of encouraging economic data, New York Federal Reserve Bank president William Dudley said on Thursday.
- US Reclaims Top Rank From China In Clean Energy Investments
April 12 2012 8:06 AM
The US reclaimed the top position as the biggest investor in clean energy last year, with clean energy finance and investment witnessing a growth $48 billion, a 42 percent increase over 2010, according to a global rank list published in a report by the Pew Charitable Trusts.
- Iran Dismisses Sanctions Ahead Of Nuclear Talks
April 10 2012 11:01 AM
The United States is hoping that new sanctions targeting Iran's central bank and its oil industry will pressure the Islamic Republic to stop enriching uranium, but Iran is defiant, claiming that it can withstand any oil embargo for two or three years.
- Iraq In 'Serious Crisis,' Says Kurdish Leader; Oil Ambitions Complicate Ethnic Tensions
April 07 2012 12:13 PM
Iraq is facing a serious crisis, Kurdistan's leader Massoud Barzani said during a recent visit in Washington -- and his semiautonomous region's ambitions in the oil-and-gas business aren't going to help defuse potentially explosive ethnic tensions.
- India To Overcome US, China In A Few Decades: Report
April 07 2012 6:48 AM
According to the Knight Frank Wealth Report 2012, China will overtake the U.S. to become the world's largest economy by 2020, but by 2050, India will surpass both.
- Kurds Say Exxon Mobil Committed To Contract With Regional Government
April 06 2012 4:51 PM
The Kurdistan Regional Government announced Friday that the Exxon Mobil Corp. (NYSE: XOM) told its president this week the oil-and-gas major is committed to a controversial exploration contract that has angered officials of Iraq's national government.
- Global Food Inflation Back On Agenda As Prices Rise
April 05 2012 9:07 AM
Global food prices rose in March for a third successive month, driven by gains in grains and vegetable oils, the United Nations' Food and Agriculture Organization said on Thursday, putting food inflation firmly back on the economic agenda.
- Cisco Sets Investments Topping $1 Billion for Brazil, India To Boost BRICS Footprint
April 04 2012 12:02 PM
Cisco Systems (Nasdaq: CSCO), the top provider of Internet gear, announced plans to invest more than $1 billion in new initiatives in Brazil and India.
- Fed Softens Tone On Stimulus Talk: Minutes
April 03 2012 2:27 PM
Federal Reserve policymakers appear less keen to launch a fresh round of monetary stimulus as the U.S. economy improves, according to minutes for the central bank's March meeting.
- Saudis Vow To Maintain Oil Output If Major Western Consumers Release Emergency Reserves
April 03 2012 1:08 PM
Saudi leaders said such a drawdown was unnecessary.
- Top JP Morgan Banker Quits After Market Abuse Fine
April 03 2012 1:02 PM
One of London's most prominent bankers was fined 450,000 pounds ($720,000) for passing on inside information in a case that will embarrass his employer J.P. Morgan Cazenove and which marks a push by British regulators to target high-profile figures.
- Chip Stocks Ease After Industry Group Confirms Recovery Gaining
April 03 2012 12:05 PM
Chip stocks eased Tuesday after the Semiconductor Industry Association published data showing sales increased for the three months ended in February.
- Saudis To Maintain Oil Output Even If US Uses Reserves
April 03 2012 11:59 AM
Saudi Arabia is likely to maintain high oil production in the event consumer countries release emergency stocks, but it will not seek to lure buyers for more oil by discounting its crude, industry sources said.
- War of Words Over Oil Between Iraq and Kurdistan Intensifies
April 03 2012 10:57 AM
A day after Iraq's oil minister announced Exxon Mobil (NYSE: XOM) confirmed it was freezing a controversial exploration deal in Kurdistan, the autonomous region's natural resource minister said Baghdad is lying.
- Exxon Mobil Confirms It's Freezing Kurdistan Deal, Oil Minister Says
April 02 2012 11:44 AM
Exxon Mobil (NYSE:XOM) has confirmed its intention to freeze a controversial deal with the Kurdish government. That may lead Baghdad to let the U.S. company compete again for exploration contracts.
- Iran Helps Syria Ship Oil To China; But Chinese Company Denies Report
March 31 2012 4:04 AM
Iran is helping Syria skirt the sanctions imposed on it by the US and other Western countries by providing it with a vessel to transport oil to China, Reuters has reported quoting sources.
- Five Social Conditions That Could Collapse The U.S. Economic System
March 30 2012 10:51 PM
In a sense, the controversial radio talk-show host and former Fox News commentator Glenn Beck had it right: The United States could be headed for a major period of social unrest -- or worse -- but not for the reasons Beck stated.
- President Obama OKs Iran Sanctions: Foreign Banks Targeted
March 30 2012 3:51 PM
U.S. President Barack Obama is moving ahead with sanctions against Iran's oil industry, in the hope that increased economic pressure will push Tehran into abandoning its nascent nuclear program.
- Swedish Defense Minister Quits In Wake Of Saudi Weapons Plant Deal
March 29 2012 12:55 PM
The Prime Minister also praised the departing Tolgfors for shepherding the defense ministry during a period of spending cuts and consolidation.