crude oil

The dollar turned negative against the Japanese yen and briefly extended losses against the euro on Wednesday after government data showed U.S. retail sales fell for a second straight month in May. The euro rose as high as $1.2611 on Wednesday as investors trimmed very bearish positions on the single currency. But a three-notch downgrade

Warren Buffett‟s Berkshire Hathaway Inc. jumped into the slumping private-jet market again with a record order valued at USD9.6bn, betting on a rebound later this decade with a third plane purchase in less than two years. US stocks rose on speculation policy makers will do more to stimulate the economy. Commodities dropped for a fourth

While investors initially cheered the plan to rescue Spanish banks, many details remain to be finalized, including how much money the banks will need. European Union finance ministers agreed Saturday to lend up to €100 billion to the Spanish bailout fund to recapitalize insolvent banks. But the amount needed will not be known until an

US President Barack Obama has urged European leaders to prevent a looming overseas debt crisis from dragging down the rest of the world. He said Europeans must inject money into the banking system. “The solutions to these problems are hard, but there are solutions,” he said. The president spoke on Friday after several days of

Global food prices had their biggest drop in more than two years in May as the cost of dairy products slumped on increased supply, easing strain on household budgets. An index of 55 food items tracked by the United Nations’ Food & Agriculture Organization fell 4.2% to 203.9 points from 213 points in April, the

European leaders are under intense pressure to try to resolve the crisis at a June 28 to 29 EU summit as Spain struggles to keep the debt wolves at bay and Germany holds its hard-line stance that reform and austerity come before growth. Madrid is now asking for deeper eurozone integration so that European rescue