US markets fell sharply for a second day in a broad-based sell-off, as geopolitical uncertainty and record oil prices rattled investors. The Dow lost 1.5%, S&P 500 lost 1.3% and Nasdaq lost 1.7%. Nasdaq has lost 3.5% in the past 2 days.
Oil prices rose for a third day Thursday amid rising tension in the Mideast, including Iran being referred back to the U.N. Security Council for possible sanctions over its nuclear program and unrest in Israel and Lebanon.
Oil prices surged to a record above $78 a barrel in a market agitated by escalating violence in the Middle East and the threat of supply disruptions there and beyond. The latest surge in oil shook stock-market investors' confidence, thoug
A record jump in the price of imported oil pushed the trade deficit to $63.8 billion in May, offsetting robust overseas sales gains by American companies. On Wall Street, stocks dropped sharply after a separate report showed that weekly oil invent
Oil prices rose Tuesday as Iran dashed hopes of a breakthrough in talks with the European Union about its nuclear program. Light sweet crude for August delivery rose 55 cents to settle at $74.16 a barrel on the New York Mercantile Exchange, where
An agreement is close on U.S. legislation to stabilize the system of employer-provided pensions, key lawmakers involved in the months-long negotiations said. Negotiators only have "loose ends" to tie up on major issues involved in the bi
State insurance regulators on Tuesday criticized a Senate insurance reform bill that would allow U.S. life and property insurers to choose federal rather than state charters. An industry-backed bill recently introduced by Republican John Sununu of
The average price U.S. consumers paid for gasoline jumped 3.9 cents over the last week to $2.97 a gallon, the second highest level ever, the government said. The national pump price for regular unleaded gasoline is up 65 cents from a year ago and
A bipartisan bill aimed at closing a loophole that allows retailers such as Wal-Mart Stores Inc. to own industrial loan companies. The legislation would restore the traditional separation between banking and commerce. [That'll save the economy.]
News Corp. shareholders learned how much revenue a closely watched Internet division would generate—if they were lucky enough to be invited to a meeting in Australia last week with Chief Executive Rupert Murdoch. Owners of the rest of the c
IN 2002, a bankrupt Bethlehem Steel stunned 100,000 workers with the news it would no longer back their pension. It was the biggest default in a brutal year during which companies dropped responsibility fo 157 pension plans onto the PBGC
As Henry Paulson gets ready to take the helm as US Treasury secretary, a single dollar is worth about 116 Japanese yen, 8 Chinese yuan, and 0.79 European euros. Amid predictions that its value could decline by 25% or more, where the US currency goes
Although these bond are not backed by the US Government, most believe the GSEs would never be allowed to fail. But Dan Denning reports below on how a US Treasury report has warned that this mistaken belief and the illiquid nature of property means
With Democrats plotting to make the minimum wage a major issue in this fall's congressional races, House Republican leaders are conceding that they may have to yield to pressure for an increase to the federal standard, which has been frozen for n
Crude oil futures soared to all-time record highs in New York as markets were roiled by news of missile launches by North Korea and tensions over Iran. Prices rose as high as $75.40 dollars a barrel, an all-time intraday record.
Rising interest rates and higher gasoline prices are putting the squeeze on consumers' budgets, and many are finding it harder to keep up with their bills. Credit counseling agencies say that consumers are coming in in droves seeking help.
Boeing Co. warned Thursday that it will take charges of up to $1.1 billion against earnings in the second quarter because of ongoing snafus in developing surveillance aircraft and, separately, a pending settlement with the Department of Justice.
An account of how the Federal Reserve System has defrauded the public since inception.
A senior Republican on the Senate Banking Committee said he wants hearings on how to protect investors in hedge funds now that the $1.3 trillion industry has freed itself from regulation by the Securities and Exchange Commission. Sen. Chuck Hagel,
We were sitting in a Manhattan living room on a spring afternoon, and Warren Buffett had a Cherry Coke in his hand as usual. But this unremarkable scene was about to take a surprising turn. "Brace yourself," Buffett warned with a grin. H
Atle Eide controls a quarter of the world's farmed salmon production. But environmentalists argue fish farmers produce battery salmon, poison the seabed and destroy wild migratory salmon and other fish stocks.
World oil prices could triple if the diplomatic standoff over Iran's nuclear program escalates into a military conflict, Saudi Arabia's ambassador to the United States said on Tuesday.
Four months into the job and the honeymoon is over for Federal Reserve Chairman Ben Bernanke. The stock market is gyrating. Inflation is picking up. Economic growth is slowing down. It's an unsettling picture for Alan Greenspan's successor.
The golden buffalo, the legendary symbol of the American West, will soon roam again--this time as the nation's first pure gold coin. The U.S. Mint will start taking orders in the coming wee
When a 76-year-old pensioner recently told Jill Schlesinger he wanted to put 10 percent of his $100,000 portfolio into gold, the financial adviser knew the latest investment craze would likely end badly, and soon.
This article dates back to 1997, but I had no idea that this "team" even existed. Bear(excuse the pun) in mind, the situation with the dollar, economy, inflation, unfunded mandates, government spending, war in Iraq, etc.
Microsoft Chairman Bill Gates said he will transition from day-to-day responsibilities at the company. Gates will continue as the company's chairman after transferring his duties over a two-year period.
President Bush warned of trouble in world trade talks and urged Europe to make a difficult decision on lowering its protections for farmers that Washington is prepared to match. "It's tough sledding right now," he told a conference of b
Dallas Mavericks owner Mark Cuban is financing a new Web site that will investigate stock fraud and corporate wrongdoing. The billionaire also said he'll buy and sell stocks based on information before the site publishes it. Cuban said he has
measure of prices excluding the volatile food and energy categories, rose, reaffirming the belief among many economists and investors that the Federal Reserve will raise interest rates again later this month (excluding the volatile food and energy???