Business

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…

March 3, 2011

Congress delays US government shutdown over budget cuts

The US Congress has passed a bill extending funding for the federal government by two weeks, staving off a possible government shutdown. It comes as politicians continue to tussle over Republican plans to cut federal domestic spending by a…

March 3, 2011

Brazil raises interest rates to 11.75%

Brazil's central bank has raised its key interest rate to 11.75% in a bid to hold down inflation in one of the world's fastest-growing economies. The rise, from 11.25%, is the second half-point increase since the start of the year. It is also the…

March 2, 2011

Ex-Goldman Sachs director charged with insider trading

A former Goldman Sachs board member has been charged with insider trading. The US Securities and…

March 2, 2011

Bank of America website suffers outage … again

Bank of America's online banking system went on the fritz for some users Tuesday, the second such incident this year. Customers attempting to access the bank's online services were experiencing "intermittent service disruptions," according to Tara…

March 2, 2011

Stocks drop more than 1% as oil spikes near $100

U.S. stocks tumbled Tuesday, with all three major indexes down more than 1%, as oil prices spiked to nearly $100 a barrel. The Dow Jones industrial average (INDU) sank 168 points, or 1.4%, with Alcoa (AA, Fortune 500) and Caterpillar (CAT, Fortune…