The U.S. dollar slid on Tuesday, especially against Asian currencies, pushing gold prices near record highs, while stock markets were steady ahead of several big central bank meetings this week. The Australian dollar rose, staying above $0.90 ahead of a decision on interest rates at 0330 GMT. Most dealers were expecting a quarter percentage point
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The Cyprus Output Prices Index in Construction for the second quarter 2009 reached 116.2 (base year 2005=100.0), recording a decrease of 2.7% over the first quarter 2009. Compared to the same quarter last year, the index recorded a decrease of 3.8%. The Output Prices Index is disseminated with a new base year and has been
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Pending sales of previously owned U.S. homes unexpectedly rose in September to their highest level in nearly three years ahead of the expiration of a popular tax credit for first-time buyers, a survey showed on Monday. The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in September, rose 6.1
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The U.S. manufacturing sector grew in October for the third consecutive month and at a faster rate than expected, according to an industry report released on Monday. The Institute for Supply Management said its index of national factory activity rose to 55.7 in October from 52.6 in September. The median forecast of 74 economists surveyed
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U.S. stocks added to gains on Monday, with the Dow industrials and S&P 500 rising more than 1 percent, after manufacturing data was stronger than anticipated, while pending sales of previously owned homes rose unexpectedly. * The Dow Jones industrial average (.DJI) jumped 134.15 points, or 1.38 percent, to 9,846.88. The Standard & Poor's 500
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OPEC oil supply fell in October, the first decline since April, as lower output from Saudi Arabia, Iraq and Nigeria offset a further rise from Angola, a Reuters survey showed on Monday. Supply from the 11 members of the Organization of the Petroleum Exporting Countries with output targets eased to 26.38 million barrels per day
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Cutting big international banks down to size would not solve problems raised by the financial crisis and would create a sector unable to offer services required to support corporate clients, a top banker said. "Size is not an end in itself and it is not necessarily evil either," Deutsche Bank Chief Executive Josef Ackermann told
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Royal Bank of Scotland Group Plc said it will be forced to sell more assets than it had expected as another radical shake-up looms for Britain's banks. European competition authorities are set to force RBS to sell its insurance arm, over 300 branches and shrink its investment banking operations, according to people familiar with the
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Ford Motor Co (F.N) surprised Wall Street with a quarterly profit on Monday and raised its 2011 outlook to "solidly profitable," sending its shares up 5.7 percent in premarket trading. Ford, the only large U.S. automaker to avoid bankruptcy in 2009, said the third-quarter results were supported by cost cuts, improved credit results and increased
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Leaders and finance ministers of 21 APEC economies, including the United States, Japan and China, will keep stimulus policies until a lasting economic recovery is seen, draft statements from the grouping seen by Reuters on Monday said. "Economic recovery is not yet on a solid footing," said a draft statement by the group's leaders, dated
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