Fitch Ratings downgraded BP , reversing its view that the Gulf of Mexico oil spill would have a limited financial impact on the company, and was joined by Moody's as fears grow over clean-up and legal costs.
The jarring flash crash on May 6 yielded a record trading day at TD Ameritrade Holding Corp , though some of its customers were upset with the market breakdown that day, the U.S. online brokerage's chief said on Thursday.
The Australian dollar rallied after third quarter of growth data showed fifth consecutive quarter of expansion
The global recovery had enough momentum before Europe's debt crisis struck to be able to weather it without being derailed, Treasury Secretary Timothy Geithner said on Thursday.
Stocks rose on Thursday, led by a late-day surge in technology shares as investors geared up for a strong unemployment report on Friday.
The global economy had enough momentum before Europe's debt crisis struck to weather it without a sharp downturn, Treasury Secretary Timothy Geithner said on Thursday.
Private sector employers added jobs in May and the economy's dominant services sector increased payrolls for the first time in more than two years, building evidence that the labor market was picking up steam.
Stocks rose on Thursday, led by a late-day surge in technology shares as investors geared up for a strong unemployment report on Friday.
Germany's consumer protection minister said on Thursday she would quit Facebook over what she called privacy law violations that she believed would lead to the company being fined by German data protection authorities.
Growth in the euro zone services sector quickened in May, helped by a the recovery in France, but activity slowed in the big emerging economies and was stable in the United States, surveys showed on Thursday.
The S&P 500 was little changed on Thursday, pressured by weak natural resources shares and tepid May sales by U.S. retailers, while caution before Friday's unemployment report pushed investors to the sidelines.
A Swiss-U.S. deal to end a tax dispute that nearly crippled UBS AG and undermined Swiss bank secrecy inched closer to full parliament approval as the upper house gave it its backing on Thursday.
Johnson & Johnson sees its medical device sales growing faster than the industry through 2014 and plans about 80 significant regulatory submissions for its largest unit in the next two years.
Lending to small businesses is declining, making it more difficult to counter the persistent problem of high unemployment, Federal Reserve Chairman Ben Bernanke said on Thursday.
May brought lackluster sales results for retailers, with discount chains turning in the strongest performance, as consumers again showed their cautious side in a fitful economic recovery.
The U.S. dollar rose broadly on Thursday on bets for a strong reading for U.S. payrolls data while the yen fell for a second day versus the dollar due to political uncertainty in Japan. Expectations for a strong payrolls report on Friday whet appetite for riskier assets and pushed the Australian and New Zealand dollars higher, along with some emerging market currencies. Investors tend to sell the low-yielding yen to fund such investments.
Luxury groups are finally warming to the Internet, lured by surging sales and a wider audience for their brands, though lingering suspicions could limit the level of online penetration compared with the wider retail sector.
U.S. stocks fell on Thursday, tracking weakness in the euro, as tepid May sales from U.S. retailers curbed investor optimism ahead of what is expected to be a solid payroll report Friday.
Considering the extent of oil spillage happening from the Gulf of Mexico and the dangers looming large on the environment due to that, has left the investors of these oil and gas exploration companies perplexed on their investment preferences. As and how the gravity of the oil spillage started coming to the knowledge of the investor community, they showed a trend of exit from the traditional oil and gas exploration companies and diverted their funds towards alternate energy companies.
Lending to small businesses is declining, thus making it more difficult to come to grips with the persistent problem of high unemployment, Federal Reserve Chairman Ben Bernanke said on Thursday.
Wall Street was little changed on Thursday, erasing earlier gains as lackluster May retail sales offset data reinforcing optimism that tomorrow's payroll report would be strong.
Fitch Ratings downgraded BP , becoming the first agency to cut the oil major's credit rating and reversing its initial view that the financial impact of the Gulf of Mexico oil spill on BP would be limited.
