Gold demand struck 14-year highs in 2011, driven by record investment, buying in China, which could overtake India this year as the world's top consumer, and central bank purchases, which hit their highest in at least 40 years, according to a report on Thursday.
China's ministry of commerce has approved a project that allows the British oil giant to have a presence in block 43/11, a gas field in the South China Sea, the China Daily reported quoting Chen Liming, head of BP China.
Moody's Investors Service placed the ratings of Bank of America Corp., Citigroup Inc. and Goldman Sachs Group Inc. on review for possible downgrade because it says the business' profitability will be diminished longer term.
Legal wrangling over the proposed $8.5 billion settlement of some of Bank of America Corp's mortgage-backed securities liability could drag through the courts for years, a top appeals court judge said during arguments in the case.
Sens. Dick Durbin and Tom Coburn sent a letter to Twitter's CEO on Wednesday asking the company about the details of a new privacy policy that allows governments to censor certain tweets.
Chinese firm Shanghai Pengxin, which is run by wealthy property developer Jiang Zhaobai, had hoped to spend more than $164 million buying and improving the New Zealand dairy farms.
The most expensive cities in the world according to the Economist Intelligence Unit’s latest Worldwide Cost of Living Survey are...
Morgan Stanley was left holding a 7 percent stake in Denmark's TDC , or nearly half the total amount that it had tried to sell to institutions earlier this week in a deal which raised $1 billion for the telecom operator's main shareholders.
Hedge fund manager and long-time gold bull John Paulson cut his gold ETF bullion holdings by about $600 million in the fourth quarter, a second straight reduction that was likely driven by client redemption needs as he remained upbeat on the metal.
Mitt Romney went on the offensive Tuesday on one of Michigan's biggest industries, the automotive industry, lambasting the bailouts to General Motors Co. and Chrysler Group LLC from President Barack Obama and proclaiming himself a son of Detroit.
Germany, Europe’s largest economy, saw that its gross domestic product fall 0.2 percent from the third quarter even as France grew 0.2 percent in the fourth quarter.
President Barack Obama, in his new $3.8 trillion budget proposal for 2013, called for taxes on the wealthiest Americans, a reduction in the national deficit and adequate funding for education.
Talks between Yahoo Inc and China's Alibaba Group over the U.S. Internet giant's Asian assets have hit an impasse, throwing their plans for a $17 billion tax-free asset swap into question, according to sources briefed on the situation.
Hedge fund managers bought shares of several of last year's hot IPOs in the fourth quarter, including upscale retailer Michael Kors and online networking site LinkedIn .
Early in January 2012, DoubleLine Capital's Jeffrey Gundlach sounded bearish on the U.S. stock market.
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Shares of Yahoo, the No. 2 search engine, fell about 7 percent after reports of problems in divesting Asian assets by new CEO Scott Thompson.
Point State Capital, one of last year's most celebrated new hedge funds, for the first time has revealed what it owns, showing a taste for some industry favorites like Apple
and some recent winners like drug company Gilead .The effects of a network-sharing deal with LightSquared are also excluded, Sprint said in an SEC filing.
Xstrata PLC is looking to sell 20 percent of its proposed A$6 billion (US$6.4 billion) Wandoan Coal Project, to take place west of the Wandoan township in Queensland, Australia.
The world's first yuan-denominated gold exchange-traded fund (ETF) made a weak debut on the Hong Kong stock exchange on Tuesday, but analysts said demand would likely pick up as investors became more familiar with the product.
Empire State Realty Trust Inc, the company that controls Manhattan's Empire State Building, plans to raise as much as $1 billion by means of an initial public offering.
