Oil prices edged above $59 a barrel on Tuesday to set a new six-month high, mainly in response to firmer equities and a weaker dollar.
Bank of America sold about $7.3 billion worth of shares in China Construction Bank , according to media reports, as the struggling U.S. bank seeks to raise money in the financial crisis.
Oil prices fell for a second straight day on Tuesday to below $58 a barrel on weaker equities, consolidating after touching a six-month peak last week, as China disappointed markets with a sharp drop in April exports.
Asian shares fell for a second straight session on Tuesday as some of the confidence that fueled a rally in stocks to seven-month highs was undermined by reports highlighting economic weakness.
Bank of America sold about $7.3 billion worth of shares in China Construction Bank , Bloomberg reported citing two people familiar with the transaction, as the struggling U.S. bank seeks to raise money amid the financial crisis.
Software piracy grew last year, accounting for 41 percent of all PC software installed, with losses to companies estimated at $53 billion, the Business Software Alliance said on Tuesday.
Asian shares fell for a second consecutive session on Tuesday as some of the confidence that fueled a recent rally was dampened by reports that highlighted the weakness in the global economy.
Millions of children in Mexico returned to school on Monday to freshly cleaned and disinfected classrooms following more than two weeks of closure caused by the swine flu outbreak.
Mainland China on Monday reported its first confirmed case of the new H1N1 strain of flu, a man in southwestern Sichuan province who had flown home from the United States.
The new flu strain spread to mainland China, state media reported on Monday, and killed a third person in the United States, as the number of cases of H1N1 influenza worldwide jumped to more than 4,300.
The downward trend in the financial crisis is easing and national economic stimulus packages are starting to work, billionaire investor George Soros was quoted as saying by a German newspaper on Monday.
The downward trend in the financial crisis is easing and national economic stimulus packages are starting to work, billionaire investor George Soros was quoted as saying by a German newspaper on Monday.
Stock index futures pointed to a lower open on Wall Street on Monday, with futures for the S&P 500 down 1.1 percent, Dow Jones futures down 1 percent and Nasdaq 100 futures down 1.5 percent, as investors were poised to book recent hefty gains.
Oil fell $1 a barrel to below $58 on Monday, reversing some of the previous session's gain, pressured by falling European equities and caution over the pace of any global recovery.
The United States risks a Japan-style lost decade of growth if it does not take aggressive action to stimulate its economy and clean up its banking system, Nobel Prize-winning economist Paul Krugman said on Monday.
Asian shares rose to their highest in seven months while the safe-haven dollar extended its decline on Monday, but warnings about an impending turnaround are growing amid weak corporate results and views that any global recovery will only be gradual.
Oil fell toward $58 a barrel on Monday, reversing some of the previous session's near 3 percent gains, as investors took profit amid warnings that any global recovery will only be gradual.
U.S. Commerce Secretary Gary Locke said on Friday he will travel to China this year to promote sales of U.S. clean energy goods as part of the Obama administration's effort to fight global warming.
Global hoteliers are pinning their hopes on the east's underserved leisure markets to offset falling revenue as holidaymakers and business travelers cut back to save money in the global downturn.
A planned new U.N. climate pact is shaping up to be a mildly tougher version of the existing Kyoto Protocol rather than a bold treaty to save what U.S. President Barack Obama has called a planet in peril.
Global demand for materials needed to manufacture batteries will climb 3.9 percent per year to $22.8 billion by 2012, a study by the Freedonia Group released this week stated.
Fifteen people were killed, including a 10-year-old girl, when a typhoon pounded the northern Philippines, triggering mudslides and tearing roofs off houses before weakening, officials said Friday.
