Archive for the ‘The Market’ Category

US stocks pare gains after mixed economic news

U.S. stocks pared their early gains on Friday as traders dissected mixed reports on consumer sentiment, retail sales and business inventories after a week of record-setting gains and losses on Wall Street.

Bank of America in $8.5B mortgage settlement

Bank of America and its Countrywide unit will pay $8.5 billion to settle claims that the lenders sold poor-quality mortgage-backed securities that went sour when the housing market collapsed.

Where the Rich Are Keeping Their Money

Who are the rich? How are they doing and what, exactly, are they doing with their money?

Oil drops as international reserves are tapped

Oil plunged nearly 5 percent Thursday after the International Energy Agency said it will release 60 million barrels of oil from its reserves to make up for a loss of Libyan exports in global oil markets.

FedEx 4Q net income rises 33 percent

FedEx Corp. says the global economy will continue to see moderate growth as fuel and other costs subside.

Mortgage applications declined last week: MBA

Applications for home mortgages fell last week, after a sharp bounce the week before, as refinance demand dropped and interest rates rose, an industry group said on Wednesday.

Oil falls below $99 ahead of OPEC meeting

Oil prices slipped below $99 a barrel Tuesday amid expectations that OPEC will raise its production quota this week.

Oil falls below $99 per barrel

Oil dropped Thursday after an international energy watchdog expressed “serious concern” about the negative effect of higher prices on the global economy.

How the oil industry saves $4.4B a year on taxes

Motorists are paying nearly $4 for a gallon of gasoline as the oil industry reaps pre-tax profits that could hit $200 billion this year.

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Sweeping guilty verdict against Rajaratnam

Galleon Group hedge fund founder Raj Rajaratnam was found guilty of 14 securities fraud and conspiracy charges on Wednesday, in a vindication for the government’s use of aggressive tactics in prosecuting insider trading on Wall Street.