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A late fade on Wall Street; Wal-Mart, Disney slump
Signs of a slowing economy combined with comments from a Federal Reserve official helped pull the stock market down Thursday. There was plenty of discouraging news. Applications for unemployment benefits rose last week and manufacturing slowed in the mid-Atlantic region. Wal-Mart sank after warning that its customers were spending less ...
CFTC adopts weakened rule on derivatives trading
A rule intended to loosen the largest U.S. banks' control over the trading of complex investments and help safeguard the financial system was weakened Thursday by regulators. Critics say the changes will allow major Wall Street banks to continue to dominate the $700 trillion derivatives market. The Commodity Futures Trading ...
Venezuelans scrambling to find scarce toilet paper
Venezuelans scrambled to stock up on toilet paper Thursday as fears of a bathroom emergency spread despite the socialist government's promise to import 50 million rolls. After years of economic dysfunction, the country has gotten used to shortages of medicines and basic food items like milk and sugar but the ...
Only 2 of 13 small SUVs do well in crash tests
Only two of 13 small SUVs performed well in front-end crash tests done by an insurance industry group, with several popular models faring poorly in the evaluations. Subaru's 2014 Forester was the only vehicle to get the top "good" rating in the results released Thursday. The 2013 Mitsubishi Outlander Sport ...
House advances student loan fix
The days of fixed-rate student loans could be coming to a close, with House Republicans on Thursday advancing a proposal that would link rates to financial markets. The GOP-led House Education and the Workforce Committee sent to the full House a bill that would offer some students a better deal ...
Merkel, Hollande at odds over Europe's way forward
Germany and France recognize that their cooperation is key to overcoming Europe's persistent economic crisis, but comments Thursday by the leaders of the continent's No. 1 and 2 economies suggested they still have diverging priorities. French President Francois Hollande argued that the 17-nation eurozone should integrate more, calling for greater ...
Greek strikes halt air travel
Flights in Greece were halted for four hours Thursday as the country's two largest labor unions staged work stoppages to protest austerity measures and a government decision to cancel a teachers' strike. Flights resumed after being grounded between 12:00 and 4:00 p.m. (0900-1300 GMT), when air traffic controllers joined the ...
RBS to cut another 1,400 retail bank jobs in UK
Royal Bank of Scotland says it is cutting 1,400 jobs from its retail banking operations over the next two years. The bank says the latest round of cuts affects support staff. Around half of those affected are based in Edinburgh, and most of the rest are in London. The bank ...
US consumer prices fall 0.4 pct. on cheaper gas
A plunge in the cost of gas drove down a measure of U.S. consumer prices last month by the most since December 2008. Excluding the drop in fuel costs, prices were largely unchanged. The consumer price index fell 0.4 percent in April from March, the Labor Department said Thursday. The ...
US jobless claims jump to highest level in 6 weeks
The number of Americans seeking unemployment benefits rose 32,000 last week to a seasonally adjusted 360,000, the most since late March. The jump came a week after applications had reached a five-year low. The less volatile four-week average rose just 1,250 to 339,250, the Labor Department said Thursday. That's a ...
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