Daily outlook for July 1 - finance
World stocks began the third quarter on an upbeat note on Wednesday with European and emerging market shares rising around 1 percent and oil climbing on hopes for a recovery in demand.
Oil climbed back above $70 a barrel on Wednesday as an industry inventory report showing a larger-than-expected fall in U.S. crude stocks buoyed hopes of a demand recovery and encouraged buying.
Asian stock markets put in a mixed performance on Wednesday, with Seoul gaining but Tokyo and Sydney weak as data showed the process of swinging the global economy around to a recovery would be a slow grind.
A monthly gauge of online labor demand in the United States fell a touch in June and its decline slowed on a year-over-year basis, suggesting stabilization in the jobs market, a private research group said on Wednesday.
A monthly gauge of online labor demand in the United States fell a touch in June and its decline slowed on a year-over-year basis, suggesting stabilization in the jobs market, a private research group said on Wednesday.
Citigroup Inc has increased interest rates on up to 15 million U.S. credit card accounts just months before curbs on such rises come into effect, the Financial Times reported citing people close to the situation.
Asian stock markets struggled to gain ground on Wednesday as economic data showed the process of turnaround to recovery was likely to be a slow grind, and the dollar capitalized on that more cautious sentiment.
Bank of America Corp's primary investment management unit is drawing lower than expected bids after its likeliest suitor, BlackRock Inc , inked a blockbuster deal to buy Barclays Global Investor , the Financial Times reported, citing people close to the matter.
U.S. benchmark lending rates could stay near zero for a couple of years based on the amount of slack now in the economy, San Francisco Federal Reserve Bank President Janet Yellen said on Tuesday.
Putnam Investments said Charles Ed Haldeman Jr. will step down on Tuesday as chairman of the Boston investment company, ending a turbulent seven-year run at the firm.
The recession is likely to end later in 2009, ushering in a frustratingly slow recovery marked by continued high unemployment, a top Federal Reserve official said on Tuesday.
St. Louis Federal Reserve Bank President James Bullard said on Tuesday that public anger over the U.S. financial crisis and subsequent bailouts could cause big problems if this escalated into a political challenge to the independence of the U.S. central bank.
American International Group Inc got a new slate of government-backed directors at a subdued annual meeting on Tuesday, effectively revamping its board after the insurer's $180 billion taxpayer bailout.
U.S. securities regulators are considering changing how companies are required to disclose stock options awarded to executives, people familiar with the Securities and Exchange Commission's thinking told Reuters on Tuesday.
U.S. securities regulators are considering changing how companies are required to disclose stock options awarded to executives, people familiar with the Securities and Exchange Commission's thinking told Reuters on Tuesday.
U.S. investigators say 10 or more people associated with imprisoned swindler Bernard Madoff could face criminal charges in the coming months, a law enforcement source said on Tuesday.
Cisco Systems Inc is considering offering Web-based alternatives to Microsoft Corp's popular Office software as the networking giant expands on the Internet.
Sun Microsystems on Tuesday released its new powerful virtualization software with supports for multiple processors.
The U.S. Justice Department said on Tuesday it was pressing ahead with its five-month-old lawsuit against UBS AG to force the Swiss bank to identify thousands of U.S. clients with secret UBS accounts.
Stocks fell on Tuesday as an unexpected drop in consumer confidence cooled recent optimism about an economic recovery, but Wall Street still closed out its best quarter in a decade.
Wal-Mart Stores Inc , the world's largest retailer, said on Tuesday that it supports President Barack Obama's push to require large employers to offer health insurance to workers.
The worldwide IT market took a major plunge in the current fiscal quarter but will soon to recover by the end fourth quarter and into 2010, according to Forrester analyst research on Tuesday.
Consumer and labor groups demanded Bank of America Corp and other lenders reform their sales practices so that workers under pressure to meet sales quotas do not saddle customers with costly and unnecessary products.
World Bank President Robert Zoellick said on Tuesday that financial markets are showing signs of stabilization, but warned that the global crisis was far from over in developing countries.
U.S. consumer confidence took an unexpectedly steep slide in June, figures released on Tuesday showed, suggesting the 18-month-long recession had yet to loosen its grip on the economy.
Very accommodative Federal Reserve monetary policy will stay for an extended period and a premature exit from this strategy could thwart U.S. economic recovery, a top Fed official said on Tuesday.
NVIDIA on Monday said its GPU accelerator design for Adobe Creative Suite 4 boosts speed with the ability to create rich, stunning content in a faster, smoother, and more interactive way.
Mozilla has officially announced the release of its new version of Firefox 3.5 which boosts higher performance and new features.
Billionaire investor George Soros on Tuesday predicted a stop-go economy for the United States, saying fears of inflation will drive up interest rates and choke off growth.
