The unemployment rate increased in 18 states and the District of Columbia in August, the U.S. Bureau of Labor Statistics … Read more
US regulators on Friday named insurer Prudential Financial to its list of “too-big-to-fail” institutions, the third non-bank placed under a tighter regulatory regime to reduce risks to the financial system. The Financial Stability Oversight Council’…
Super Typhoon Usagi — one of the strongest storms of the year — barrelled towards Hong Kong and southern China on Friday, prompting warnings of fierce winds and torrential rains. Packing gusts of up to 205 kilometres (130 miles) per hour, the storm…
A former Downing Street aide released a trove of emails documenting the bitter power struggle between Tony Blair and Gordon Brown during their time in government. One of the emails, released by Blair’s strategic communications director Benjamin Wegg…
Russia on Thursday threatened to block Facebook for allegedly publishing ads for illegal designer drugs on its website. The state media watchdog said it had added Facebook to a blacklist and that the social network would be blocked within three days…
Brazil’s mining giant Vale announced Thursday a deal to sell a 35.9 percent stake in its cargo logistics firm VLI to Japan’s Mitsui and a Brazilian government fund. The transaction, valued at $1.232 billion, calls for the sale of a 20 percent stake…
A magnitude 5.3 earthquake rocked Japan’s Fukushima prefecture early Friday morning, US seismologists said, but no tsunami warning was issued. The epicentre of the earthquake was 22 kilometres (14 miles) below the ground, according to the US Geological…
The world’s chemical weapons watchdog said Thursday that no date had yet been set to study a plan to destroy Syria’s arsenal as a draft text was still being discussed. The Organisation for the Prohibition of Chemical Weapons (OPCW) had said that its…
US Secretary of State John Kerry on Thursday urged China to play a “positive, constructive” role at the United Nations on a resolution to rein in Syria’s chemical weapons. The top US diplomat acknowledged at the start of talks with Chinese Foreign Minister…
The general business activity index from the Philly Fed’s manufacturing survey was a reading of 22.3 in September. This is … Read more
World stocks rally after Fed keeps stimulus intact (via AFP)
Gobal stock markets soared on Thursday, especially in emerging economies, as investors welcomed the US Federal Reserve’s surprise decision to keep its vast stimulus policy unchanged. The Fed confounded market expectations overnight with its decision…
A federal judge Wednesday signed off on a $100 million fine on UBS’s Japan subsidiary, part of a larger global crackdown on the Swiss banking giant in the Libor rate-rigging scandal. US District Judge Robert Chatigny sentenced UBS Securities Japan Co…
The Federal Reserve on Wednesday left its $85 billion a month stimulus program in place, against broad expectations that it would reduce it as the economy grows. Fed policy makers instead cut their growth forecast for this year and next, suggesting…
Standard & Poor’s on Wednesday put Portugal’s BB long-term credit rating on watch for a possible downgrade over increased risks the eurozone nation will fail to meet the fiscal targets under its international bailout. “Potential shortfalls in meeting…
REGULATORS from Britain and American are expected to soon gather behind podiums on either side of the Atlantic and solemnly shake their heads as they announce what is already well known: that JPMorgan Chase lost a vast amount of money—$6.2 billion…