Goldman Sachs demanded billions of dollars in collateral from AIG to protect its customers, the Wall Street bank said on Thursday, defending itself against accusations that it contributed to the insurer's woes while padding its own profits.
New claims for state jobless benefits unexpectedly rose last week, while manufacturing activity and employment slowed in June, heightening fears the U.S. economic recovery is stalling.
Wall Street suffered losses for a fourth straight day on Thursday as disappointing home sales, manufacturing and jobless data raised new doubts about growth in major sectors of the economy and prompted a sharp pullback from riskier assets.
Goldman Sachs demanded billions of dollars in collateral from AIG to protect its customers, the Wall Street bank said on Thursday, defending itself against accusations that it contributed to the insurer's woes while padding its own profits.
Toyota Motor Corp by Thursday morning had not yet alerted U.S. safety regulators of a recall of Toyota and Lexus models for possible engine stalling while driving, a NHTSA official said.
The dollar extended losses against the euro on Thursday after data showed business activity in the U.S. manufacturing sector came in weaker than expected in June.
Asian and European manufacturing output growth cooled further in June, with China hitting its slowest pace in more than a year -- further evidence that the global economic recovery is moderating.
The dollar extended declines against the yen on Thursday after data showed initial U.S. weekly jobless claims came in higher than expected.
The dollar extended declines against the yen on Thursday after data showed initial U.S. weekly jobless claims came in higher than expected.
The dollar dropped to 87.49 yen JPY= after the data from around 87.61 prior to the release of the data. The euro fell to $1.2357 EUR= from $1.2369 prior to the data's release. The euro had already risen 1 percent against the dollar before the data's release.
Stock index futures fell on Thursday as moderate Chinese manufacturing data fueled worries about the strength of global economic growth, a day after Wall Street ended its worst quarter since the market meltdown triggered by the collapse of Lehman Brothers.
According to Russian diamond-mining giant Alrosa's rough diamond price forecast up to 2018, rough diamond production is expected to return to 2008 levels (165 MM carats) no earlier than 2015 and, thereafter, to remain at around 165-167 MM carats per year as a result of a limited supply of new projects and depletion of existing mines.
The dollar hit a seven-month low versus the yen on Thursday, stung by broad weakness and as traders took a stab at stop-loss orders suspected around the dollar's weakest of the year.
Gold held steady near $1,240 an ounce in Europe on Thursday, supported by concerns over weak global growth which are weighing on more economically sensitive assets like stocks and industrial commodities.
The yuan strengthened but stopped short of breaching its recent post-revaluation high against the dollar on Thursday as traders worried the central bank might intervene to pull it back if it rises too far, too fast.
Stock index futures fell on Thursday after soft Chinese manufacturing data and a day after Moody's warned of a potential downgrade for Spain and Wall Street ended its worst quarter since the collapse of Lehman Brothers.
The House of Representatives on Wednesday approved a landmark overhaul of financial regulations but the Senate put off action until mid-July, delaying a final victory for President Barack Obama.
Investors gave stocks and commodities a wide berth on Thursday on mounting worries about the strength of the global economic recovery after manufacturing data showed China's rapid growth was slowing.
Stock index futures pointed to a lower open for Wall Street on Thursday, with futures for the Dow Jones down 0.2 percent, for the S&P 500 down 0.3 percent and for the Nasdaq down 0.4 percent by 0906 GMT.
Asian stocks and commodities fell while U.S. Treasury futures rose to a 14-month high on Thursday, after manufacturing data showed China's rapid economic growth was slowing, increasing fears of a global double dip.
Oil fell for a fourth straight day on Thursday, shedding 1.7 percent toward $74, on signs that China's economic growth was slowing, raising concerns about energy demand.
The pace of manufacturing growth in the world's second largest oil consumer slowed in June as government steps to cool the property market and curb bank lending combined with a faltering global recovery.
Gold edged down on Thursday as investors waited for more clues on the state of the global economy after prices rallied toward a record this week, but falling shares could spur another round of safe haven buying.
Gold prices dropped below $1240 in Asian trade Thursday mainly on conflicting reports over global economic situation.
Gold for immediate delivery was seen trading at $1239.84 an ounce at 12.00 noon Singapore time while U.S. gold futures for August delivery was at $1,241.7 on the Comex in New York.
