Europe's debt debacle poses some risks for the United States, but is unlikely to derail the country's solid economic recovery, top Federal Reserve officials said.
U.S. stocks ended slightly lower on Monday as gains in consumer-related stocks, including tobacco shares, were offset by losses in the energy sector.
U.S. consumer spending rose moderately in May, even as savings touched the highest level in eight months, indicating a tepid economic recovery was still intact.
The Supreme Court on Monday rejected an effort to patent a business method, but offered no alternative to the prevailing standard, giving little clarity to companies seeking to protect such inventions.
Turns out the rich may not be so different from you and me: They, too, are falling behind on their mortgages.
The Supreme Court upheld a ruling refusing to give a patent for a business method, but also criticized the prevailing standard for deciding whether to allow such patents.
Electric carmaker Tesla Motors raised the number of shares it will sell in its initial public offering by 20 percent, an early sign that investor interest in the startup is strong.
Bankers voiced relief on Monday after world leaders abandoned a global bank levy and eased the timetable for new capital requirements at a G20 summit in Canada which posed questions about the forum's effectiveness.
The Supreme Court said on Monday that it rejected separate appeals by cigarette makers and the Obama administration stemming from the government's racketeering lawsuit against the tobacco industry, a case that initially sought $280 billion from the industry.
The Supreme Court said on Monday that it would hear an appeal by Janus Capital Group of a ruling that reinstated a class-action securities fraud lawsuit against the mutual fund company.
Consumer spending rose moderately in May even as savings touched the highest level in eight months, suggesting a tepid economic recovery was still intact.
Bankers voiced relief on Monday after world leaders abandoned a global bank levy and eased the timetable for new capital requirements at a G20 summit in Canada which posed questions about the forum's effectiveness.
The U.S. Supreme Court on Monday rejected separate appeals by cigarette makers and the Obama administration stemming from the government's racketeering lawsuit against the tobacco industry, a case that initially sought $280 billion from the industry.
Stock markets perked up on Monday after world leaders abandoned a global bank levy and eased the timetable for new capital requirements at a G20 summit in Canada which posed questions about the forum's effectiveness.
Governments must slash budget deficits decisively and central banks should not wait too long to raise borrowing costs as side effects from measures prescribed to tackle the global recession may create the next crisis, the Bank for International Settlements said.
Diamonds are the in-thing in India now. According to De Beers, demand for polished diamonds in India and China could reach the same level as in the US.
The Swiss franc hit a record high against the euro on Monday, helped by comments from a Swiss central bank broad member, while the dollar recovered after faltering in Asia on concerns about U.S. economic recovery.
U.S. stock index futures rose slightly on Monday after global leaders pledged to cut government deficits and adopted a more flexible timeline for banks to take on new capital rules.
Consumer spending rose slightly more than expected in May even as savings touched their highest level in eight months, pointing to a recovery that remains on solid ground.
Apple Inc said on Monday that it had sold 1.7 million iPhone 4 phones through Saturday June 26, three days after it kicked of store sales of the devices, making for its most successful launch yet.
Governments must slash budget deficits decisively and central banks should not wait too long to raise borrowing costs as side effects from the medicines prescribed against the global recession may create the next crisis, the Bank for International Settlements said.
Gold nosed at last week's record highs on Monday, buoyed by a dip in the dollar in Asian trading and worries about the global economy, although a lack of consumer demand could push prices lower in the near term.
