Economic news
Venezuela to create new workers militia
Venezuela's president has ordered the creation of a new workers' militia to defend the country's "Bolivarian revolution" at a time when the government faces economic problems and political turmoil. President Nicolas Maduro gave few details about the militia, including how many members it would consist of, but said it would ...
Summer travel forecast: Better, but no blowout
This summer, high rollers are flying to lavish hot spots for their vacations. The rest of us are driving to less luxurious places like nearby campgrounds. The good news: At some U.S. campgrounds these days you get live bands, air guitar contests and chocolate pudding slip 'n slides. Americans' plans ...
Museum art collection at risk amid Detroit's woes
The Detroit Institute of Arts' collection could be sold to help satisfy creditors if the financially troubled city of Detroit seeks bankruptcy protection, officials said. The city's state-appointed emergency manager Kevyn Orr is considering whether the collection should be considered city assets that could be used to cover Detroit's long-term ...
Stocks head lower, market on track for weekly loss
The stock market headed slightly lower Friday, keeping on track for its first weekly loss in a month. The Standard & Poor's 500 index was down three points at 1,647, a slip of 0.2 percent, as of 1:30 p.m. Eastern time. The Dow Jones industrial average was down three points ...
Oil falls below $94 on weak outlook for demand
The price of oil was knocked below $94 a barrel Friday by a combination of ample supplies and lukewarm demand. Benchmark oil for July delivery was down 36 cents to $93.91 a barrel in midday trading on the New York Mercantile Exchange. On Thursday, oil fell as low as $92.91 ...
World stocks lower after big sell-off
World stocks edged lower on Friday, a day after markets around the world dropped sharply on concerns global growth is slowing and the Federal Reserve could start scaling back its monetary stimulus. Japan's Nikkei, which had led the previous day's losses with a plunge of over 7 percent, seesawed throughout ...
Weekly claims for unemployment insurance rise
First-time claims for unemployment insurance in Louisiana for the week ending May 18, increased from the previous week's total. The state labor department figures released Friday show the initial claims increased to 2,738 from the previous week's total of 2,327. Initial claims were below the comparable week a year earlier ...
China, Switzerland to seal free trade deal
Chinese Premier Li Keqiang is in Switzerland to seal a free trade pact with the Alpine nation — the first comprehensive agreement his country has reached with a major western economy. Li met with Swiss officials in Zurich on Friday to conclude three years of negotiations. In an op-ed published ...
Slovenia adopts debt cap to stave off crisis
Slovenia's parliament on Friday adopted a cap on public spending to try to convince foreign investors that the small eurozone country will not need an international bailout. The 78-8 vote in the assembly means Slovenia's constitution will be changed to require that the government budget be balanced — that is, ...
Stocks open lower, market headed for a weekly loss
Stocks are opening lower on Wall Street, putting the market on track for its first weekly loss after four weeks of gains. The Dow Jones industrial average was down 42 points at 15,251 shortly after the opening bell Friday, a loss of 0.3 percent. The Standard & Poor's 500 index ...
US durable goods orders rise 3.3 percent in April
U.S. orders for long-lasting manufactured goods rebounded in April, buoyed by more demand for aircraft and stronger business investment. The gains suggest economic growth may be holding steady this spring. Orders for durable goods, items expected to last at least three years, rose 3.3 percent last month from March, the ...
France won't force companies to cap executive pay
The French government is trying to woo executives and entrepreneurs, amid concerns that it has antagonized the businesses needed to reinvigorate the economy. Finance Minister Pierre Moscovici announced Friday that the government no longer plans to push for a law to cap executive salaries in the private sector. Instead, Moscovici ...
Futures slide; markets appear headed for down week
Stock futures are sinking and it appears major U.S. indexes are heading for a down week roiled by corporate earnings, good and bad, and confusion about what the Fed will do next. Dow Jones industrial futures are down 56 points to 15,233. S&P futures have lost 8.9 points to 1,641.10. ...
Polish jobless rate falls to 14 percent
Government data show that Poland's jobless rate fell to 14 percent in April from 14.3 percent the month before, an improvement due largely to seasonal jobs that open up in the warmer months. The figure, released Friday by the Central Statistical Office, comes as other economic indicators show the once-vibrant ...
German business confidence unexpectedly rebounds
German business confidence rebounded this month in an unexpectedly strong showing that sends a hopeful signal for more robust growth in Europe's biggest economy, a closely watched survey found Friday. The Ifo think tank's confidence index rose to 105.7 points for May from 104.4 last month. The upturn followed two ...
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