Technology stocks rose on Wednesday as investors took heart from solid corporate earnings and shrugged off fresh evidence of a dismal housing sector, which renewed speculation the Fed will cut interest rates.
Workers are painting, patching stucco and peeling protective plastic from gleaming panes of balcony glass at a new 1,000-unit condo called The Plaza, two towers that rise 43 and 56 stories over Miami's bank district.
A growing sense of urgency is pushing world leaders to agree a new treaty to fight climate change but the U.S. presidential election might still foil hopes of a deal by the end of 2009, experts say.
Sherrill Zenie said all she wanted was a piece of the American Dream, but what she got was a kick in the rear.Zenie is one of a legion of a relatively new type of homeowner, a flipper, who sought fast money by rapidly buying and selling homes to capture a profit on each as prices soared.
Oil prices slipped a little on Friday, after hitting a succession of record highs this week which were fuelled in part by oil company production shutdowns in the Gulf of Mexico because of a storm threat.Oil slipped below $82 on Friday, but was still close to record highs because of concerns over supply disruptions from a storm in the Gulf of Mexico.
Oil hovered around $82 a barrel on Thursday as sinking U.S. crude inventories and the threat of a storm gathering near Florida increased worries of a winter supply crunch in the world's top consumer.
The dollar broke above $1.40 per euro for the first time on Thursday, weakened by a hefty U.S. interest rate cut this week and expectations of further cuts in benchmark rates.
Spot gold prices surged to a 28-year high in European trade on Thursday, as the dollar sank to record lows against the euro and oil traded near all-time highs -- raising the precious metal's appeal for investors.
Oil hovered above $82 a barrel on Thursday as sinking U.S. crude inventories and the threat of a storm gathering near Florida increased worries of a winter supply crunch in the world's top consumer.
Energy futures soared on Wednesday following the Fed's half-point rate cut yesterday and new inventory data that surfaced.
Oil slipped on Wednesday after setting a record high above $82 a barrel, with dealers eyeing a diminishing storm threat to oil rigs in the Gulf of Mexico.
Many less creditworthy borrowers may lose their homes when interest rates on a flood of adjustable-rate subprime mortgages reset next month.
Joseph C. Lewis, who became a billionaire trading currencies, has taken a 7 percent stake in Bear Stearns Cos Inc, snapping up about $860 million worth of the investment bank's stock over the past two months. He became one of the company's biggest shareholders, if not the largest. Shares shot up more than 3 percent.
Royal Bank of Canada subsidiary RBC Centura Inc said on Thursday it has agreed to acquire Alabama National BanCorporation in a deal valued at $1.6 billion.
The rate of home loans entering the foreclosure process rose to a record high in the second quarter of 2007, driven largely by failing subprime mortgages, an industry trade group said on Thursday.
U.S.-based Pizza Patrón's move to take Mexican currency at its stores initially sparked a backlash in January. But business has been booming.
EarthLink Inc said on Tuesday it will cut about 900 jobs, or nearly half its staff, as part of a restructuring to reduce costs at the Internet service provider.
The U.S. space shuttle Endeavour returned to its Florida home port on Tuesday, touching down safely at the Kennedy Space Center following a hectic but successful 13-day mission to the International Space Station.
Home foreclosures rose 9 percent in July from June and soared 93 percent from a year ago as states that once enjoyed a white-hot housing market are now seeing the greatest number of loan failures, a real estate survey reported on Tuesday.
Toy maker Mattel Inc was sued on Monday in an attempt to force it to set up a fund to pay for testing children who may have been exposed to lead poisoning from its toys, according to a Los Angeles-based attorney.
Phone books that were delivered but never opened rot away next to empty driveways and overgrown lawns, telltale signs that once-booming southwest Florida is now the center of the U.S. housing storm.
The last time the U.S. markets experienced such wild swings as they have in the past week, Wall Street warriors in their 20s and 30s were trading baseball cards and lunchbox snacks, not stocks and bonds.
