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IMF calls for urgent steps on Spain unemployment
Spain faces the prospect of high unemployment and sluggish growth lasting years unless the country and Europe take "urgent action" to slash the nation's crippling 27 percent unemployment rate and free frozen credit to businesses so they can expand, the International Monetary Fund said Wednesday. A report issued by the ...
Markets drift as investors ready for Fed
Markets drifted lower Wednesday ahead of a keenly awaited policy statement from the U.S. Federal Reserve. The central bank wraps up a two-day policy meeting later and investors are looking to see if policymakers are moving towards any change in its monetary policy stance. The Fed's strategy of super-low interest ...
Oil rises near $99 a barrel before Bernanke speaks
The price of oil rose to near $99 a barrel on Wednesday, driven by a report of falling U.S. stockpiles of crude and ahead of the conclusion of a meeting of the Federal Reserve. By early afternoon in Europe, benchmark oil for July delivery was up 20 cents to $98.64 ...
World Bank highlights climate-poverty link
The World Bank says it will increasingly view its efforts to help developing countries fight poverty through a "climate lens." In a report released Wednesday, the international lending institution warned that heat waves, rising seas, more severe storms and other impacts of climate change will trap millions of people in ...
Japan's trade deficit climbs to $10.5B in May
Japan's trade deficit rose nearly 10 percent in May to 993.9 billion yen (nearly $10.5 billion), highlighting the challenge Prime Minister Shinzo Abe faces in revitalizing manufacturing as industries increasingly shift production offshore. Rising costs for imports due to the cheaper yen matched a 10 percent rebound in exports from ...
Investors look for answers on economy from Fed
Worry and speculation have consumed investors since Chairman Ben Bernanke spoke to Congress last month about the Federal Reserve's drive to keep long-term interest rates at record lows. On Wednesday, many hope the Fed will settle the confusion. Will the Fed scale back its $85 billion-a-month in bond purchases within ...
Gov't report: Smooth launch unsure for health law
There's no guarantee that President Barack Obama's health care law will launch smoothly and on time, congressional investigators say in the first in-depth independent look at its progress. But in a report to be released Wednesday, the congressional Government Accountability Office also sees positive signs as the Oct. 1 deadline ...
Asia Markets mostly down as investors eye Fed
Asian markets opened mostly lower Wednesday as investors waited for an update on the U.S. economy from the Federal Reserve and for some clarity from the Fed about its future course. The results of a two-day Fed policy meeting will likely ripple through stock markets once investors learn whether there ...
Icahn changes tack, seeks $16B Dell stock buyback
Activist investor Carl Icahn on Tuesday proposed a $16 billion share buyback in his latest effort to thwart Dell Inc. founder Michael Dell's effort to take the struggling computer maker private. Icahn, now the company's second-largest shareholder after buying 72 million shares from fellow activist investor Southeastern Asset Management Inc., ...
Aetna to stop selling individual plans in Calif.
Aetna Inc. will stop selling individual health insurance policies in California next month, just weeks after opting out of the exchange that is being established as part of the national health care reforms, a state regulator said Tuesday. California Insurance Commissioner Dave Jones said he was disappointed in Aetna's decision ...
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