The first named storm of the Atlantic hurricane season threatened on Saturday to veer toward the Gulf of Mexico within days, posing a new threat to containment and cleanup of the worst U.S. oil spill in history.
World leaders hoping to shore up a fragile economic recovery will leave it to individual countries to decide how best to repair battered budgets without stunting growth.
World leaders cast about for a common approach on Saturday to securing an uneven economic recovery that is showing signs of fading.
The world's richest economies, saddled with huge debts after spending their way out of the credit crisis, papered over differences on Friday on how to clean up their finances with minimal damage to growth.
President Barack Obama and British Prime Minister David Cameron were expected to discuss London-based BP Plc and the Gulf of Mexico oil spill on Saturday as stormy weather raised fears that clean-up operations could be disrupted.
President Barack Obama, fresh from a win on a sweeping overhaul of Wall Street regulations, on Saturday urged Congress to take up his proposal for a $90 billion, 10-year tax on banks as the next step in reform.
U.S. President Barack Obama and British Prime Minister David Cameron were expected to discuss London-based BP Plc and the Gulf of Mexico oil spill on Saturday as stormy weather raised fears that clean-up operations could be disrupted.
Stock investors will anxiously await the crucial June jobs data next week for clues on how the U.S. economy may weather recent storms that drove Wall Street's major indexes down for the year.
The vote on Magna International Inc's plan to pay its founder nearly $900 million to give up his controlling shares will go ahead, but only after the company complies with an order by an Ontario regulator to give shareholders more information on the deal.
Worries about the fragility of global economic recovery hit financial markets again on Friday, knocking world stocks down for the fourth session in a row ahead of a summit of Group of 20 nations.
U.S. lawmakers on Friday were close to finalizing a historic overhaul of financial regulations after hammering out agreements on the most contentious sticking points of the bill.
U.S. lawmakers on Friday were close to finalizing a historic overhaul of financial regulations as they reached a preliminary deal on derivatives, the most contentious sticking point of the bill.
The yen rose broadly and stayed near a 1-month high against the dollar on Friday on short covering, and as falls in regional share markets prompted traders to further sell risky currencies such as the Australian dollar.
The dollar was on the defensive on Friday on doubts about a recovery in the U.S. economy while short covering and a general wariness towards riskier assets kept the yen near a one-month high against the greenback.
U.S. lawmakers on Friday neared a breakthrough in their historic rewrite of financial regulations as they agreed to tough new limits on banks' trading activity and floated a compromise on derivatives.
World leaders aimed for a common target on Thursday of securing the economic recovery, but disagreed over how best to reach it.
Lawmakers were locked in an impasse over derivatives on Thursday as they struggled to finish their historic rewrite of U.S. financial regulations.
Banks would face tougher curbs on trading but would be able to hold limited hedge fund positions under a proposal unveiled by Senate Democrats as they closed in on a final overhaul of financial regulations.
The United States said on Thursday world leaders must work to keep economic growth on track but Europe dug in its heels ahead of a G20 summit, insisting that now was the time to work on cutting costs.
Lawmakers on Thursday agreed to boost banks' capital requirements and neared agreement on a derivatives crackdown as they closed in on a historic overhaul of financial regulations.
Lawmakers on Thursday agreed to boost banks' capital requirements and neared agreement on a derivatives crackdown as they closed in on a historic overhaul of financial regulations.
The Supreme Court on Thursday set aside some convictions of former Enron Corp Chief Executive Jeffrey Skilling and former media baron Conrad Black, a setback for the U.S. Justice Department in some of its biggest corporate fraud prosecutions of the last decade.
