Business

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…

March 2, 2011

Gold price hits record high on Libya unrest

The price of gold has hit a record high as investors worry about the political turmoil in Libya and spreading tensions across the Middle East. The price on the London Bullion Market jumped more than $14 to $1,434.50 an ounce, topping the previous…

March 2, 2011

Bernanke: Sustained oil price rise danger to US economy

The length of time that oil prices remain high will be significant for the US economy, US Federal Reserve chairman Ben Bernanke has said. He told the Senate Banking Committee that the most likely outcome was a temporary and modest rise in…

February 26, 2011

How gas spikes 6 cents in one day

Gas prices spiked 6 cents Friday, the biggest one-day jump in two years, and…

February 26, 2011

Shutdown: Washington gets ready

Washington has started getting ready for a possible government shutdown.

February 26, 2011

Sri Lanka president calls for new world financial order

The president of Sri Lanka has called for a new financial order to prevent future world financial crises. President Mahinda Rajapaksa said the industry had been mainly focusing on regulating institutions since the 2008 downturn. But he said the…