05 May 2005 11:47 AM

The Energy Department reported today that natural gas inventories rose by 39 billion cubic feet in the week ended April 29.

05 May 2005 11:44 AM

U.S. benchmark 30-year mortgage rates fell last week, for the fifth straight week, according to the Freddie Mac. Rates fell to 5.75% from 5.78%.

05 May 2005 10:45 AM

The U.S. Securities and Exchange Commission wrote to oil companies that did business in Iran to disclose any commissions that were paid to the nation’s government. The list of companies included Total SA and Norsk Hydro ASA, according to a Wall Street Journal report.

05 May 2005 09:35 AM

The European Central Bank as expected left the eurozone key interest rate unchanged at a historic low against the background of disappointing economic data and moderate inflation. The rate has been at 2% since June 2003.

05 May 2005 09:34 AM

A grave obstacle in the way of Doha free trade round negotiations has been removed Wednesday as five biggest trading nations including the United States, the European Union, Brazil, Australia and India agreed on the method of computing agricultural import tariffs. The agreement was also endorsed by other nations such as Switzerland and Japan.

05 May 2005 09:32 AM

IBM reported on Wednesday its decision to lay off up to 13,000 employees in an attempt to restructure its European operations and Global Services division that has to be built around high-margin business consulting. The layoffs will include up to 4 percent of Big Blue’s work force and will give it a second-quarter pretax charge of up to $1.7 billion. This is about 10% of the expected profit at Big Blue.

05 May 2005 09:17 AM

U.S. productivity rose 2.6% in the first quarter, according to the Labor Department. Economists were expecting 2.5%. Unit labor costs rose 2.2%. Economists were forecasting 2%.

05 May 2005 09:11 AM

U.S. initial jobless claims rose by 11,000 to 333,000 in the week ending April 30, according to the Labor Department. Economists were expecting 324,000. The four-week average fell by 2,000 to 321,500, the lowest

05 May 2005 09:07 AM

J.P. MORGAN RAISED GM TO "OVERWEIGHT" FROM "NEUTRAL"

05 May 2005 07:56 AM

Crude oil edged up on worries about the potential supply crunch at the end of the year despite an optimistic US government report. The markets are worried about OPEC’s ability to meet surging demand as the cartel is already pumping close to its full capacity.

05 May 2005 07:31 AM

The U.S. Treasury is considering the restoration of 30- year bond that was cancelled in October 2001. The final decision has to be announced on August 3, but analysts have decided that this is almost a done thing.

05 May 2005 07:28 AM

Congress may rise premiums paid by companies for the federal pension-guaranty program, as these provisions are included in the new budget plan. However, this plan may meet with opposition as opponents insist that it could take away the incentive for companies to carry traditional pension plans.

05 May 2005 03:03 AM

MORGAN STANLEY RAISED SABMILLER TO “OVERWEIGHT” FROM “EQUAL-WEIGHT”

05 May 2005 03:02 AM

LEHMAN BROS. RAISED AON TO "EQUAL-WEIGHT"

05 May 2005 03:01 AM

MERRILL LYNCH RAISED GM TO “NEUTRAL” FROM “SELL”