MARKETS / FINANCE

Clearing skies over U.S. economy open rift at Fed

An improving U.S. economy has exposed a widening rift at the Federal Reserve over how quickly to scale back the central bank's aid measures, a debate that will be front and center when policy-makers meet next week.

Oil hovers near $72.50 after 5 percent rise

Oil prices hovered around $72.50 a barrel on Thursday after rising more than 5 percent this week as swollen U.S. distillate stocks such as diesel offset positive sentiment in other markets.

BoJ Shirakawa: stronger yen may support economy

Bank of Japan Governor Masaaki Shirakawa said on Thursday a stronger yen would push down prices in the near term but might support the economy in the longer run. Japan must look at the overall economy in gauging the impact of the yen's strengthening, Shirakawa told a news conference.

Global shares rally, dollar falls

Global shares rallied on Thursday, pushing the benchmark world index to a fresh 11-month high, while the euro hit a one-year peak against the low-yielding dollar as investors put back risk trades due to economic optimism.

Asian stocks hit 13-month high on upbeat U.S. data

Asian stocks hit their highest level in 13 months on Thursday and the Australian dollar surged after U.S. economic data raised hopes that the global economic recovery was strengthening.

Oil holds above $72, inventory fall limits losses

Oil was steady above $72 a barrel on Thursday, taking a breather after a rise of more than 2 percent a day earlier, following a larger-than-expected fall in U.S. crude oil inventories.

Google talking to DOJ about books settlement-report

Google Inc and a group of authors and publishers are in talks with the U.S. Justice Department about possibly modifying an agreement struck last October to publish millions of books online, Bloomberg reported on Wednesday.

Daily Commentary - 17/09/2009

The Australian Dollar opens sharply higher on Thursday at 0.8725 on greenback weakness and a continuation of the recent shift into high-yielding assets.

Cuomo subpoenas 5 Bank of America directors

Ratcheting up pressure on the largest U.S. bank, New York Attorney General Andrew Cuomo has subpoenaed five current or former Bank of America Corp directors to learn what they knew about Merrill Lynch & Co's problems as the companies prepared to merge.

Twitter funding would value it at $1 bln: report

Twitter is closing a round of funding that will value the company known for its 140-character, stream-of-consciousness blogs at $1 billion, technology news site TechCrunch reported on Wednesday.

U.S., ex-Goldman programmer get more time for talks

The government will have another month to seek an indictment against or reach a settlement with a former Goldman Sachs Group Inc programmer accused of stealing trade secrets.

Skype founders suing eBay, investment firms: report

The founders of Skype are suing its owner eBay Inc and the investor group that has agreed to buy the Internet telephone service, alleging theft of technology, according to the Wall Street Journal.

Comcast plans to bring TV shows to your phone

Leading U.S. cable operator Comcast Corp said on Wednesday it plans to offer subscribers the option to watch their favorite TV shows on mobile devices through its new wireless Internet service.

Chrysler returns to leasing after year-long hiatus

Chrysler Group said on Wednesday it would offer leases on its newest vehicles just over a year after sharply tighter credit markets and plunging vehicle values forced it to retreat from the market.

U.S. industrial output rises again, inflation tame

U.S. industrial production rose for a second straight month in August, reinforcing views the nation's recession had ended, while a spike in gasoline costs pushed consumer prices higher.

U.S. unemployment not to peak until 2011: Krugman

Unemployment in the United States will peak only in early 2011 because of a slow and painful recovery from the global economic crisis, Nobel Prize-winning economist Paul Krugman said on Wednesday.

Wall Street rises for third day on economic optimism

Stocks rose for a third day on Wednesday, hitting fresh 2009 highs in a broad-based rally following economic data that suggested a stronger-than-anticipated global recovery.

Three-day rally brings GE stock into black for '09

General Electric Co shares crossed into positive territory for 2009 on Wednesday, in their third day of steady gains, helped by recent brokerage upgrades and easing investor concern about its finance arm.

U.S. Treasury cuts Fed program as debt rises

The U.S. Treasury Department, facing the prospect of piercing the legal limit on U.S. debt within weeks, said on Wednesday it was scaling back a borrowing program it runs on behalf of the Federal Reserve.

New normal? U.S. consumers coming back cautiously

U.S. grocery store chain Kroger Co says shoppers are starting to buy national brands again instead of lower-priced store-label versions.

Skype founders suing eBay, investor group

The founders of Internet telephone service Skype are suing its current owner eBay Inc and an investor group, according to a report on the Wall Street Journal's website.

Apple to soar on iPhone, app store merits, analyst says

Apple Inc is to welcome its latest 52-week high on the iPhone and the iTunes App Store growth, analyst says this week, lifting price target on Apple from $200m to $235.

EU to support stimulus, push on trade talks at G20

The European Union will support maintaining policies that poured trillions of dollars into economies and call on a G20 meeting for progress on trade talks to help boost a recovery, a draft policy document said.

Citi to pay back U.S. when recovery more evident

Citigroup Inc plans to pay back $20 billion it owes the government when the bank sees more concrete signs of recovery, Chief Executive Vikram Pandit said on Wednesday.

Fed policy makers dividing on hiking rates: Medley

Influential hedge fund adviser Medley Global Advisors issued a report on Wednesday saying there is a growing divide among Federal Reserve policy makers on how quickly they should begin raising interest rates, causing U.S. government bonds to briefly sell off.

Credit card losses climb with jobless rate in August

A weak U.S. labor market led to bigger bank writedowns of credit card debt in August as a record-high jobless rate left consumers struggling to pay their bills.

Oil climbs above $72 as U.S. stockpiles slip

Oil prices broke above $72 a barrel on Wednesday after a U.S. government report showed a bigger-than-expected decline in crude inventories.

Wall Street gains on weaker dollar and data

Stocks rose for a third straight day on Wednesday as weakness in the dollar lifted commodity and industrial shares while data underscored optimism that the economy was improving.

Wall Street rises 1 percent on weaker dollar, data

U.S. stocks rose 1 percent on Wednesday, helped by weakness in the dollar and data showing a rise in industrial output.

Indexes rise 1 percent on weaker dollar, data

U.S. stocks rose 1 percent on Wednesday, helped by weakness in the dollar and data showing a rise in industrial output.