Lowe's Cos , the No. 2 U.S. home improvement chain, curbed its expansion plans and forecast worse-than-expected results in the third quarter as recession-weary consumers put off big renovations, sending its shares down more than 11 percent.
The rate of U.S. credit card defaults showed signs of stabilizing last month, an indication that American consumers are in better financial shape than feared despite job losses and the housing slump.
U.S. loan demand fell in the second quarter for every major category except prime residential mortgages, while banks tightened credit standards at a less-intense pace than in the first quarter, the Federal Reserve said on Monday.
Lowe's Cos, the No. 2 U.S. home improvement chain, curbed its expansion plans and forecast worse-than-expected results in the third quarter as recession-weary consumers put off big renovations, sending its shares down more than 11 percent.
Oil fell 2 percent toward $66 a barrel on Monday as investors became more cautious about the pace of global economic recovery and a potential revival in energy demand.
Consumers, the cornerstone of U.S. economic activity, are still in disarray, data and central bank measures signaled on Monday, as households struggle amid the worst recession since the Great Depression.
More countries are seeing a rise in distressed sales of commercial properties in the second quarter, with South Africa, the United States and New Zealand faring worst as the market downturn worsens, a report showed.
U.S. homebuilder sentiment in August rose to its highest level in over a year, a private survey showed on Monday, adding to mounting evidence that the housing market and economic recession were leveling out.
Reader's Digest Association Inc, publisher of the widely-read Reader's Digest magazine, said on Monday it would likely file for Chapter 11 bankruptcy for its U.S. businesses to cut its debt load.
The U.S. green technology sector, which suffered a drop in funding early this year, is seeing renewed interest with venture dollars flowing in once again to promising startups and some companies looking to resurrect public offerings that had been set aside.
A U.S. regulator has extended a deadline to bid on Guaranty Financial Group assets to Tuesday, while bids for another troubled, lender Corus Bankshares Inc, are due Sept. 3, sources familiar with the situation said on Monday.
Stocks fell on Monday, putting major indexes on track for their worst day in seven weeks, as weak data from Japan and a disappointing outlook from retailer Lowe's Cos dampened hopes about the economy's growth.
U.S. navigation device maker Garmin Ltd is in early talks to buy Britain's Raymarine Plc in a bid to gain market share in Europe.
Reader's Digest Association Inc, publisher of the widely-read Reader's Digest magazine, said on Monday it would likely file for Chapter 11 bankruptcy for its U.S. businesses to cut its debt load.
NYSE Euronext Inc sees encouraging signs for U.S. initial public offerings in 2010 as investors venture back into equities, top executives at the parent of the New York Stock Exchange said on Monday.
The U.S. Federal Reserve said on Monday it will extend to mid-2010 an emergency program aimed at boosting lending in the ailing commercial real estate market.
Consumers, the cornerstone of U.S. economic activity, are still in disarray, data and central bank measures signaled on Monday, as households struggle amid the worst recession since the Great Depression.
U.S. homebuilder sentiment in August rose to its highest level in over a year, a private survey showed on Monday, adding to mounting evidence that the housing market and economic recession were leveling out.
Oil fell nearly $2 to below $66 a barrel on Monday as investors became more cautious about the pace of global economic recovery and a potential revival in energy demand.
The euro hit a two-week low against the dollar and neared a one-month trough against the yen on Monday as world stock markets fell and doubts about a U.S. recovery prompted investors to cut exposure to risk.
China reduced its holdings of U.S. Treasury debt in June by the biggest percentage in nearly nine years, according to Reuters historical data and a Treasury Department report issued on Monday.
U.S. stocks slid on Monday, dropping after a bleak outlook from home improvement giant Lowe's and weak economic figures from Japan reignited concerns about world demand.
