July new home sales and durables orders rise
August 24 2007 2:47 PM EDT
Sales of new single-family U.S. homes unexpectedly rose in July and new orders for durable goods posted strong gains that underlined the economy's strength just before a credit crisis socked financial markets.
New home sales rise unexpectedly
August 24 2007 11:44 AM EDT
Sales of new single-family U.S. homes unexpectedly rose in July and new orders for durable goods posted strong gains that underlined the economy's strength just before a credit crisis socked financial markets. New home sales rose 2.8 percent to an 870,000 annual pace last month, reversing two months of declines.
Orders for long-lasting goods jump
August 24 2007 10:01 AM EDT
New orders for long-lasting U.S.-made manufactured goods surged a much bigger-than-expected 5.9 percent in July, the biggest gain since September, and a business investment gauge posted the first gain in three months, a Commerce Department report showed on Friday.
Merkel to focus on climate, business in China, Japan
August 24 2007 9:22 AM EDT
German Chancellor Angela Merkel will push for tougher global action against climate change on a tour of China and Japan next week which will also have business interests high on the agenda, officials said on Thursday.
Climate, biofuel new challenge to poverty alleviation
August 24 2007 9:21 AM EDT
Climate change and biofuels pose fresh challenges in the fight against poverty, which requires more than ever cooperation among scientists, the new head of an international body for agricultural research said.
Smog smothers Japan, experts point to China
August 24 2007 9:19 AM EDT
Smog is menacing Japanese cities for the first time in 30 years and cropping up in rural areas for the first time ever, alarming the government and prompting experts to point the finger at neighboring China.
U.S. to push food, product safety at APEC summit
August 24 2007 9:09 AM EDT
The United States will press China to do more to ensure the safety of its exports at a regional summit meeting next month in Sydney, U.S. Commerce Secretary Carlos Gutierrez said on Wednesday.
South Korea to resume U.S. beef imports
August 24 2007 9:07 AM EDT
South Korea said on Friday it would end its effective ban on U.S. beef imports, once worth about $850 million annually, which should ease tensions in a trade dispute.
Brazil welcomes open IMF leadership race: report
August 24 2007 9:06 AM EDT
Brazil wants to see an open race to head the International Monetary Fund, Finance Minister Guido Mantega was quoted on Friday by Russia's RIA-Novosti news agency as saying.
Russia sells Venezuela 98 Ilyushin aircaft: media
August 24 2007 9:05 AM EDT
Russia has signed a deal to sell 98 Ilyushin civilian aircraft to Venezuela, Russian newspapers reported on Friday.
Shaken by product safety woes, China declares war
August 24 2007 8:32 AM EDT
Officials launch a campaign to fix problem products that have damaged confidence in the 'made in China' label.
Mega profits seen in EU climate fight
August 24 2007 8:11 AM EDT
European power companies are making billions of euros in excess profits in the fight against global warming as consumers pay for it, economists say.
EU allows Britain to resume nearly all meat exports
August 23 2007 11:33 PM EDT
European Union veterinary experts agreed on Thursday to let all of Britain, except part of the county of Surrey, resume exports of live animals, meat and dairy products to other EU countries, the EU executive said.
Indian communists adamant about U.S. nuclear deal
August 23 2007 11:31 PM EDT
India's biggest communist party said on Thursday it did not want to pull the government down over a nuclear deal with the United States, but added that this depended on the pact not being pursued.
Mexico trade deficit $762 mln in July
August 23 2007 4:26 PM EDT
Mexico's trade deficit shrank to $762 million in July, the government said on Thursday, but it was still higher than expected.
SEC seeking more exec pay info from companies
August 23 2007 1:56 PM EDT
The U.S. Securities and Exchange Commission started sending letters this week to a cross-section of public companies, requesting further details about how they pay their executives, an agency spokesman said on Wednesday.
South Korea sends aid to flood-ravaged North
August 23 2007 6:25 AM EDT
South Korea sent its first batch of emergency aid on Thursday to relieve flooding in North Korea that has killed hundreds, and a top Pyongyang official said the North is aiming to restore basic services by the end of September.
BOJ says turmoil will linger
August 23 2007 6:11 AM EDT
Global financial turmoil prompted the Bank of Japan to hold rates on Thursday and warn the tremors would take time to settle, as stock markets climbed in spite of fresh strife stemming from the ravaged U.S. home loan market.
Product quality headaches to help China in long run
August 23 2007 6:08 AM EDT
Every cloud supposedly has a silver lining, and Chinese industry's bill for complying with stepped-up safety standards after a string of embarrassing product recalls is no exception.
China says export boom shows goods still welcome
August 23 2007 5:50 AM EDT
Foreign sales of some Chinese products have been shaken by reports of dangerous goods, but the country's fast-rising exports show most consumers remain untroubled, senior Chinese officials said on Thursday.