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Stock markets plunge as crude prices soar

Thu, 24/02/2011 - 17:01 by Anter Prakash Singh

Crude oil futures continue to soar in the United States and havetouched the two year high of $100 per barrel. Its impact was visible on the stock markets, as the the share prices fell in the European as well as the U.S. markets.

OPEC to boost production in case of oil shortage

Wed, 23/02/2011 - 14:01 by Anter Prakash Singh

The Saudi Arabian oil minister Ali al-Naimi said that the Organization of the Petroleum Exporting Countries (OPEC) can increase its supplies to meet any shortage caused by the recent turmoil in oil producing countries of the Middle East.

Libya unrest hits oil trade

Tue, 22/02/2011 - 11:49 by Anter Prakash Singh

Experts from around the world are keeping an eye on rising prices of crude oil as the situation worsens in Libya, the Africa's fourth largest oil producer with production of 1.8 million barrels per day.

G20 reach consensus on economic imbalances

Mon, 21/02/2011 - 15:53 by Anter Prakash Singh

The finance ministers and central bank governors of G20 countries succeeded in overcoming the opposition of China to setting up of a global early warning system which can detect economic crisis threatening to hamper the growth of world economy.

Japan's economy contracts as China surges ahead

Mon, 14/02/2011 - 13:33 by Anter Prakash Singh

Japan’s gross domestic product (GDP) fell by 0.3 percent in the last quarter of 2010. At an annualized rate, the economy shrank by 1.1 percent from the previous quarter. Japan has also been left behind by China,which has now become the second largest economy of the world.

Home prices fall in US cities

Wed, 29/12/2010 - 15:54 by Anter Prakash Singh

The SP Case-Shiller index shows that home prices in twenty U.S. metros are falling as compared to prices same time last year.

US online holiday sales rise 15%

Sun, 26/12/2010 - 20:06 by Jaspreet Virk

The holiday season seems to have proved profitable for online retailers in the United States as consumer spending has witnessed a significant jump.

Economy improves as layoffs slowdown, holiday spendings rise

Fri, 24/12/2010 - 16:16 by Jaspreet Virk

Here's good economic news this holiday season! The employers are laying off fewer employees and consumers are spending more.

A&P stores files for bankruptcy protection

Mon, 13/12/2010 - 12:15 by Anter Prakash Singh

The Great Atlantic & Pacific Tea Co. (A&P) has filed for bankruptcy protection. The company is more than 100 years old and was once one of the biggest grocer in the nation.

Britain's leading indicator rises

Thu, 09/12/2010 - 22:55 by harsheeb

London -- The Leading Economic Index for Britain was higher in October but the economy still shows signs of weakness, the Conference Board said Thursday.

The headline index rose 0.4 percent in the month to 105.1, the Conference Board said. The index assigns a base value of 100 to the year 2004.

The leading index in Britain has made headway each month since April 2009, but its six-month rate of growth has slowed in recent months.

Conference Board senior economist for Europe Jean-Claude Manini said, "The latest readings … suggest the expected slowdown, resulting from the fading of recovery effects and the phasing in of budget cuts."

Bank of England keeps rate intact

Thu, 09/12/2010 - 22:53 by harsheeb

London -- The Bank of England will maintain its current low interest rate for overnight loans at 0.5 percent, keeping its lending policy consistent since March 2009.

The central bank also left its asset purchasing program intact, bank officials said. The BOE began asset purchases in March 2009, most recently increasing its target for purchases to $315 billion in November 2009.

The bank withholds details of its monetary policy decisions for three weeks, at which point minutes to Thursday's policy meeting are released.

Copyright 2010 United Press International

Why I Cut the Cord on Cable TV

Wed, 24/11/2010 - 10:13 by Anders Bylund

 I finally decided to hold my nose and take the plunge -- bye-bye cable TV and landline phone, hello modern communications. And I picked a heck of an interesting time to do it.