05 May 2005 03:00 AM

The Energy Department reported yesterday that U.S crude stocks rose 2.6 million barrels for the week ended April 29. Gasoline inventories advanced 2.2 million barrels. Distillate supplies declined 300,000 barrels. According to the American

04 May 2005 04:08 PM

The Dow Jones Industrial rallied 127.32 points, or 1.24%, to 10,384.27. The Nasdaq Composite rocketed 29.16 points, or 1.51%, to 1,962.23. The S&P500 was up 14.35 points, or 1.24%, to 1,175.52.

04 May 2005 04:07 PM

June crude oil futures rose $0.63 to $50.13 a barrel. June gold futures rose $0.30 to $430.3 an ounce.

04 May 2005 01:48 PM

The Dax Index added 18.81 points, or 0.44% to 4264.35, the FTSE 100 Index rose 21.30 points, or 0.44% to 4882.50, the CAC 40 Index climbed 31.70 points, or 0.80% to 3987.63. In

04 May 2005 01:36 PM

Mortgage applications rose 0.2% in the week ended April 29, according to the Mortgage Bankers Association. Refinancing applications rose 0.4%. Applications for mortgages increased 0.1%. Refinancings accounted for 39

04 May 2005 12:45 PM

Royal Dutch/Shell, the UK leading energy company, said Tuesday it would re-open gas exploration in Libya after its had signed an agreement with the country that faced EU and US sanctions for a long time. "Libya’s integrated gas industry has enormous potential, based on its large gas resources and favorable geographic

04 May 2005 11:31 AM

Eurex, Europe’s leading derivatives exchange, has been trailing the Chicago Board of Trade in the US due to flaws in its marketing campaign, regulatory decisions, and steep discounting at the CBOT. These issues led to a great number of derogatory comments on Eurex US.

04 May 2005 09:20 AM

Tyco International Ltd.’s former chief financial officer Mark H. Swartz will take the stand to testify in his own defense on Wednesday, according to his lawyer Charles A. Stillman.

04 May 2005 09:18 AM

Bill Thomas, Chairman of House Ways and Means Committee, is considering a broader legislative package aimed at rescuing George W. Bush’s Social Security plan that is not supported by the majority of the Americans despite the 60 days, 60 stops campaign launched by the President.

04 May 2005 09:12 AM

Decline in the high-yield bond market transferred to the leveraged loan market led to a drastic increase in divergence between first and second lien loans. The risk premium on high-yield bonds over government debt added 18% as Merrill Lynch Master high-yield index jumped 416 basis points above the same level. In the meantime, the investing public has withdrawn over $7bn from the US high-yield bond market in 2005. It is not yet clear whether this bearish trend will continue.

04 May 2005 09:07 AM

AIG’s accounting irregularities were orchestrated by its two top executives, former Chief Executive Maurice "Hank" Greenberg and former chief financial officer Howard Smith, internal review has shown, says the Wall Street Journal. In a

04 May 2005 08:48 AM

Crude oil prices retreated a little, remaining under $50 per barrel in anticipation of a US government report on US oil inventories, which, according to analysts’ forecasts, is due to post one more increase in both gasoline and crude supplies. This is projected to be the first across-the-board hike in oil stocks in four months. Even so, worries still persist about the US inventories ahead of the summer driving season.

04 May 2005 08:44 AM

The efforts of John Thain, chief executive officer of the New York Stock Exchange, to make the Big Board a for-profit

04 May 2005 08:34 AM

THE ECB KEPT ITS BENCHMARK SHORT-TERM INTEREST RATE UNCHANGED AT 2%, AS WAS EXPECTED

04 May 2005 08:02 AM

Investment bank Lazard Ltd. seem to gain fruit from its lucrative initial public offering that may cost as much as $822.5 million and end a 157-year family control over the company.