FRANKFURT, July 23 (Reuters) – Futures on leading European stock market indexes rose on Wednesday, tracking advances in equity markets in the United States and Asia on the back of lower oil prices CLc1. At 0608 GMT, DJ Euro Stoxx 50 futures STXEc1 were up 0.9 percent, German DAX FDXc1 futures rose 0.8 percent and
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By Syantani Chatterjee Single mother Mary White worked as a sales clerk until the bank foreclosed on the home she rented. Tossed out on the street with her six boys, she lost her deposit and her job. Now she is revved up to vote in November. "My situation is going to make me want to
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Oil prices on Wednesday slid $20 below an all-time high hit two weeks ago, helping to lift Asian stocks and weigh on government bonds as investors cautiously reached for higher returns as well as more risk. The dollar held gains made the previous session after top U.S. officials, including Treasury Secretary Henry Paulson, gave it
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Yahoo Inc on Wednesday posted a nearly 19% fall in net profit, and net revenue short of lowered Wall Street expectations, as it faced a weakening economy and the distraction of Microsoft Corp's pursuit. Chief Financial Officer Blake Jorgensen told Reuters in an interview the company was not changing its financial view for 2008, despite
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Washington Mutual Inc, the largest U.S. savings and loan, posted a $3.33 bln second-quarter loss on Wednesday as souring mortgages forced it to set aside more money for loan losses. The thrift's deteriorating health prompted Moody's Investors Service to say it may downgrade Washington Mutual to "junk" status, and shares of WaMu fell more than
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A Bush administration plan to bolster Fannie Mae and Freddie Mac could cost U.S. taxpayers $25 bln, congressional analysts said on Wednesday in a report that triggered debate as Congress moved toward approving a major housing market rescue package. Fannie and Freddie shares fell sharply on the report's release but later recovered, with Freddie stock
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SemGroup LP declared bankruptcy on Wedneday after $3.2 bln in oil trading losses torpedoed the formerly 12th-largest private U.S. company. The Tulsa-based company racked up the massive losses as oil prices ran up record gains, undercutting short crude futures positions SemGroup bought to hedge against its 500,000 barrel-per-day trading business. To meet obligations, SemGroup plans
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The dollar rallied on Wednesday, boosted by a steep drop in oil prices and comments from a Federal Reserve official suggesting that U.S. interest rates may have to rise even before financial markets recover. Remarks by U.S. Treasury Secretary Henry Paulson reiterating that a strong dollar was in the interest of the nation also supported
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Gold finished sharply lower after a volatile session on Wednesday as a combination of retreating oil, a higher dollar and recovering U.S. stocks pulled the precious metal from its earlier highs. Spot gold was at $948.30/949.90 an ounce by New York's last quote at 1815 GMT, down from $961.75/963.15 an ounce late in New York
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Marfin Popular Bank (MPB) has agreed to sell 51% of its insurance subsidiaries to CNP Assurances (CNP) and entered into a long-term business partnership for the development of insurance and pensions sales by MPB's banking networks in Greece and Cyprus. This insurance partnership is expected to be extended to other countries in the future along
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