Oil's worst-ever summer signals price rout is nowhere near done
If crude’s slump back to a six-year low looks bad, it’s even worse when you reflect that summer is supposed to be peak season for oil.
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Consumer sentiment slips in August
The University of Michigan’s preliminary August reading on the overall consumer sentiment index came in at 92.9, down from the final reading of 93.1 in July. The survey’s gauge of consumer expectations slipped to 83.8 from 84.1 in July and was marginally below an expected 84.0. The consumer expectations index reading was the lowest since November 2014.
US factory output climbed in July, lifted by auto production
Auto plants, clothing makers and plastics factories drove a sharp rebound in U.S. manufacturing in July. U.S. factory production climbed a seasonally adjusted 0.8 percent last month after a revised estimate …
U.S. seeks to seize $1 billion in telecom probe
U.S. authorities are asking European counterparts to seize about $1 billion in assets related to a wide-ranging criminal probe of alleged corruption by three global telecom companies and intermediaries close to the daughter of Uzbekistan’s president, according to court documents and people with direct knowledge of the criminal investigation. The effort is one of the biggest recent moves by U.S. authorities targeting what prosecutors believe are the spoils of alleged
Accused U.S. 'flash crash' trader set to be freed on bail in London
Navinder Sarao, the London-based trader accused by the United States of market manipulation that contributed to the 2010 Wall Street “flash crash”, is set to be freed on bail on Friday after his conditions were modified, one of his lawyers said. Sarao was arrested by British police on a U.S. extradition warrant in April after being charged with wire fraud, commodities fraud and market manipulation by the U.S. Justice Department.
Autos buoy U.S. industrial output; consumer sentiment dips
U.S. industrial output advanced at its strongest pace in eight months in July as auto production surged, another bullish sign for third-quarter economic growth that boosts the prospects of a Federal Reserve interest rate hike next month. While other data on Friday showed a dip in consumer sentiment early this month, households were upbeat about their personal finances, a good omen for consumer spending. “It adds to the steady drum-beat
China securities regulator says market forces to play bigger role
China’s securities regulator said on Friday that the government will allow market forces to play a bigger role in determining stock prices, the first official signal from Beijing that it could be moderating its efforts to prop up its equity markets. “With market fluctuations gradually shifting to normal, from wild and abnormal, we should let the market exercise its function of self-adjustment,” the China Securities Regulatory Commission told a news
US stocks seen lower; Oil, Greece, yuan in focus
U.S. stock index futures indicated a higher open on Friday, as markets looked to inflation data and industrial production figures for July.
Downton Abbey Final Season Photos Look Super Chic and Will Give You the Feels
It’s time to break out the dinner tuxedos one last time on Downton Abbey. The beloved crossover hit drama is coming to an end and we’ve got even more photos from the final season. But not…
Meet Billy Joel's Daughter Della Rose Joel! See the Adorable Pic of His Newborn
Billy Joel and wife Alexis Joel want you to meet someone! The musician and his wife have debuted their newborn daughter, Della Rose Joel, and she’s absolutely precious! Bella Rose…