Monthly Archives: June 2011

BANGKOK – Oil hovered below $95 a barrel Thursday in Asia after Greece’s approval of a harsh austerity plan eased concerns about a spreading financial crisis in Europe. Benchmark oil for August delivery was down 27 cents to $94.50 a … Continue reading →

CHARLOTTE, N.C./NEW YORK (Reuters) – Bank of America Corp said it expects to take more than $20 billion of charges after settling with mortgage bond investors, resulting in a second-quarter loss. The sum, which includes an $8.5 billion settlement, removes … Continue reading →

ATHENS, Greece – Greek lawmakers are set to pass a bill Thursday to fast-track fresh austerity measures demanded by creditors, following two days of rioting in Athens that left some 200 people injured and 50 stores damaged. Greece’s international creditors … Continue reading →

LOS ANGELES – KB Home’s shares tumbled more than 15 percent on Wednesday, after the homebuilder reported its second-quarter loss more than doubled amid lackluster sales and higher charges, and the company signaled it is considering tapping the capital markets … Continue reading →

CHICAGO (Reuters) – If banks loaned out their $2 trillion cash hoard, if worker training programs were stepped up and if 3 million job openings were filled, the economic recovery would be far stronger, a panel assembled by former President … Continue reading →

LONDON (Reuters) – News Corp (NWSA.O) secured British government backing for its buyout of BSkyB (BSY.L) on Thursday after the minister responsible rejected complaints the move would give Rupert Murdoch too much power and influence. The Department of Media gave … Continue reading →

BRUSSELS (Reuters) – The European Central Bank signaled it would raise interest rates again next week as data showed inflation in June stabilized well above the bank’s target. “We are strongly determined to secure that inflation expectation remain firmly in-line … Continue reading →

CHICAGO (Reuters) – Borrowing by small U.S. businesses rose at a record pace in May, data released by PayNet Inc on Thursday showed, a sign that economic growth is poised to pick up in coming months. The Thomson Reuters/PayNet Small … Continue reading →

ATHENS (Reuters) – Greece’s parliament is expected to pass a second austerity bill on Thursday to enable the country to avert bankruptcy by securing a 12 billion euro ($17 billion) loan tranche from the EU and IMF. After two days … Continue reading →