Business

March 9, 2011

Madoff trustee ready to distribute $2.6B to victims

The court-appointed trustee charged with recovering assets stolen by Ponzi schemer…

March 9, 2011

Oil nears US$107 a barrel then retreats

Oil prices continued to set new post-recession highs Monday as forces loyal to Moammar Gadhafi pounded rebels near a key oil port in Libya. It's unclear how long the country's oil exports will be cut off, and traders prepared for a worst-case…

March 7, 2011

As Oil Prices Surge, So Do Airfares

As the price of oil has surged because of the unrest in the Middle East, so have airline……

March 7, 2011

Sanctions Hurt Ivory Coast Economy

Economic sanctions against Ivory Coast are hurting business in the world's top cocoa producer. Thousands of civil servants line up along Abidjan's Rue des Banques, waiting to be paid their February salaries. When foreign banks closed last month…

March 7, 2011

US Stocks falls

U.S. stock market indexes dropped sharply in Monday's midday trading. The Dow Jones Industrial Average lost eight-tenths of a percent, the S&P 500 fell 1.1 percent, and the NASDAQ plunged 1.9 percent. European stock markets were lower at the…

March 7, 2011

Greek Government Says Credit Downgrade Is Wrong

The Greek government says the most recent downgrade of its credit rating is “completely unjustified” and ignores the substantial progress the nation has made toward cutting its deficit. Moody's Investor Services downgraded Greece's credit rating…

March 7, 2011

Gas prices top $3.50

U.S. gasoline prices increased nearly 33 cents in a two-week period, the second-biggest price jump in the history of the gasoline market, according to a survey of filling stations. The latest Lundberg Survey of cities in the continental United…

March 7, 2011

Happy 2nd birthday, bull market!

The bull market is celebrating its second birthday. Banks and retail stocks have led the way but investors may want to think about changing their bets if they think the party is going to continue. The S&P 500 has doubled in value from the bear…

March 3, 2011

Oil prices in Asia stick near their recent high levels

Oil prices are hovering near recent highs after an air strike in Libya and fresh clashes…

March 3, 2011

Japanese and Korean firms look to Brazil for rare earth

A consortium of Japanese and South Korean firms are to take a share of a Brazilian rare earth miner. The group includes Japan's Nippon Steel and South Korea's Posco and National Pension Service (NPS). They will pay $1.95bn (£1.19bn) for a 15% stake…