The U.S. economy's return to growth during the third quarter shows stability has been regained but recovery is fragile and needs nurturing, Treasury Secretary Timothy Geithner said on Thursday. The government estimated that gross domestic product grew at an annual rate of 3.5 percent from July through September. Still, Geithner said the government must be
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European shares were little changed in midmorning trade on Friday after sharp gains in the previous session on data showing the U.S. had emerged from recession, with firmer banks offsetting weaker energy stocks. At 1003 GMT, the FTSEurofirst 300 index of top European shares was virtually flat at 997.37 points, having risen 1.8 percent on
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Gains by miners and banks helped Britain's leading shares rise 0.6 percent in early trade on Friday, offsetting weakness in heavyweight energy stocks, while advertising firm WPP rose after upbeat third-quarter results. The index also gained traction from a rebound in Asian stocks a day after the U.S. posted a 3.5 percent rise in gross
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World stocks crept higher on Friday, extending gains following the United States' jump out of recession, while the dollar drifted ahead of more U.S. data that will add fuel to the recovery debate. While news the world's largest economy had finally emerged from recession gave markets a shot in the arm on Thursday, concerns remain
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Samsung Electronics and Sony gave a robust outlook on improving demand and cost cuts, fuelling hopes that a recovery in the global tech sector will outlive the pre-Christmas shopping season. The strong showing from other Asian technology groups such as Sharp Corp, Acer and Panasonic provided further ammunition for bullish technology investors, rounding out the
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Cypriot Representative to the Third Committee of the UN, Chrysostomos Stavrou, has said it is a paradox that Turkey, a country serving now as a non permanent member of the UN Security Council, occupies part of the territory of Cyprus, a UN and EU member state. Stavrou, who was exercising Cyprus’ right of reply to
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President of the Republic of Cyprus Demetris Christofias urged the European Union to toughen its stance with Turkey, ahead of the assessment of Turkey’s compliance with its EU obligations, including the ones concerning the Republic of Cyprus. Likening the EU's concessions to Ankara to the appeasement of Adolf Hitler in the 1930s, President Christofias said
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EU Commissioner for the Enlargement Olli Rehn expects Turkey to support the ongoing Cyprus negotiations and to make practical steps in order to contribute to the creation of a favorable climate for the achievement of a solution in Cyprus. Rehn, who was replying to a written question by Cypriot MEP Takis Hadjigeorgiou, said that the
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U.S. stock index futures pointed to a slightly lower open on Wall Street on Friday following the previous session's sharp rally, with futures for the S&P 500 down 0.35 percent, Dow Jones futures down 0.17 percent and Nasdaq 100 futures down 0.09 percent at 6:10 a.m. EDT. Tech and telecom stocks will be in focus
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JP Morgan Chase & Co raised concerns about Galleon hedge fund founder Raj Rajaratnam and his associates as far back as 2001, the Financial Times reported, citing an internal company document seen by the newspaper. Rajaratnam, 52, was arrested on October 16 along with five others in what prosecutors described as the biggest hedge fund
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