Archive for the 'Economy / Market' Category

Venezuela’s Chavez slams Obama for Afghan attack

CARACAS, May 8 (Reuters) – Venezuelan President Hugo Chavez on Friday slammed US President Barack Obama for air strikes in Afghanistan that killed scores of civilians, criticism that came weeks after the leaders shook hands in a sign of warming ties.

TAKE-A-LOOK-US banks seek $75 bln; Europe peers’ bad debts soar

Morgan Stanley and Wells Fargo sold more than $15 billion of shares and bonds, as the two companies rushed to the head of the line of banks looking to raise funds following government stress tests.

First-Class postage to jump to 44 cents

SEATTLE, May 9 (UPI) — The price of mailing a First-Class letter increases to 44 cents Monday, officials said, noting the increase will help keep the US Postal Service running.

US Retailers See Signs of Easing in Sales Slowdown

By JACK HEALY The nation’s retailers endured another tough month in April, but there were signs that at least some consumers were coming out of hiding.

Uneven Unemployment

The US lost 563000 jobs in April, down 100000 or so from the 663000 jobs lost in March. But the unemployment rate continued to rise, increasing from 8.5 percent in March to 8.9 percent last month, according to the Bureau of Labor Statistics (BLS).

US sheds 539000 jobs in April, fewest in 6 months

By Lucia Mutikani WASHINGTON, May 8 (Reuters) – US employers cut 539000 jobs last month, the fewest since October, according to government data on Friday that signaled the economy’s steep decline might be easing and gave the stock market a boost.

US FDIC to open new office to handle bank closings

WASHINGTON, May 8 (Reuters) – The Federal Deposit Insurance Corp said on Friday it will open up an additional East Coast office to deal with failed banks.

Top NY official: Build at least 2 WTC towers now

By Joan Gralla NEW YORK, May 8 (Reuters) – At least two World Trade Center towers should be built without further delay, New York State Assembly Speaker Sheldon Silver said on Friday, attempting to break another impasse that has stalled reconstruction.

Chemical Company Is Acquitted in Asbestos Case

By KIRK JOHNSON A federal court jury on Friday acquitted the big chemical products company, WR Grace, and three of its executives on all criminal charges that they had knowingly contaminated the small Montana mining town of Libby with asbestos, …

Venezuela To Seize Assets Of 60 Oil Service Cos -Chavez

CARACAS -(Dow Jones)- President Hugo Chavez said Friday that Petroleos de Venezuela SA, PdVSA, will take over the assets of 60 different oil service firms across the country.

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