30 May 2005 10:16 AM

The euro dropped against the dollar as the European Union constitution was dumped in the French referendum. The rejection that will hamper the adoption of the document supposed to pave the way for integration of the European economies had a downward effect on the European currency. The

27 May 2005 08:09 AM

Oil jumped above $51 a barrel on Friday regaining losses after the U.S. government report showed a decline in the nation’s stockpiles. The rally began on the news that the US crude stocks declined in the past weeks, against expectations of another buildup. The rally was stopped by the flight of speculative funds out of commodity

27 May 2005 07:08 AM

U.S. senators demand that the Bush administration crack down on China to speed up currency revaluation. The comments that were directed at Treasury Secretary John W. Snow at a hearing of the Senate Banking Committee add to the pressure on the administration to force Beijing that is artificially keeping its currency low to revalue yuan.

26 May 2005 07:02 AM

The US economy probably added 3.6% on an annualized basis in the first quarter, shows the survey of economists by Bloomberg News, which is more than 3.1 percent rate the government publicized on April 28. In the fourth quarter the rate was at 3.8 percent. The government estimates will be released at 8:30 a.m. in Washington.

25 May 2005 09:28 AM

Crude oil was little changed staying close to a two-week peak on the closure of the refinery unit plant in Texas by Exxon Mobil Corp. July

24 May 2005 08:45 AM

Oil price has remained relatively stable on a rise in US refining output that was projected to increase to 94.5% of their capacity this week up from 94% in the past week, according to Bloomberg survey of economists.

23 May 2005 09:58 AM

The prospects of the US economy are dimming, but still look brighter than those of the eurozone or Japan, which might boost the value of the US dollar in the long-term. UK’s Chancellor of the Exchequer Gordon Brown said on Sunday that, in his view, Britain and the United States will lead in the economic development in the

20 May 2005 10:52 AM

The dollar was relatively stable, staying near the seven-month high against the euro reached this week. The dollar rose to $1.2550 from $1.2625 late Thursday.

20 May 2005 09:58 AM

Morgan Stanley yesterday was ordered by a Florida jury to pay $850 million in punitive damages to Ronald O. Perelman in addition to $604 million in compensatory damages awarded to the plaintiff on Monday. The decision ups the total sum Morgan Stanley has to pay to $1.45 billion, although the jury stopped short of awarding

20 May 2005 09:21 AM

Crude oil futures in New York were up for the first time in three days on expectations of a cut in supply from OPEC triggered by the statements of the cartel’s officials. June crude oil futures rose $0.32 to $47.24 a barrel. OPEC

19 May 2005 07:50 AM

Federal banking regulators that have supplied the markets with pioneering guidelines for credit-risk management for home-equity lending are now looking into sorting out risks for mortgages. The new guidelines dealing with first-time mortgages are likely to come out in 2006, serving to ward off concerns about the

18 May 2005 08:59 AM

Oil prices rose above $49 a barrel on Wednesday on fund activity in buying crude oil, although gains were contained by yesterday's promise by Saudi Arabia to keep pumping at full throttle despite the surge in US stockpiles

18 May 2005 07:58 AM

The dollar once again rose approaching the seven-month high reached on Wednesday on expectations that U.S. inflation report increases the chances of another hike in the US interest rate. Support was also generated by the report of the U.S. Treasury that stopped short of saying that China manipulated yuan to gain an unfair trade

18 May 2005 05:11 AM

China is not manipulating its currency after all, US Congress admitted issuing a statement that China has to abandon its currency peg to the US dollar or risks accusations of exchange rate manipulations. The restrained statement invoked criticism of the producers who would prefer a statement saying that China is in direct violation of the rules.

17 May 2005 10:36 AM

Home-equity lenders need to rev up their risk management practices, says the guidance jointly issued by regulators including the Federal Reserve, the Federal Deposit Insurance Corp., the National Credit Union Administration and the Treasury Department’s Office of the Comptroller of the Currency and Office of Thrift Supervision