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U.S. consumer spending recorded its largest increase in nearly six years in May on strong demand for automobiles and other big-ticket items, further evidence that economic growth was gathering momentum in the second quarter. While other data on Thursday showed a modest increase in first-time applications for unemployment benefits last week, the underlying trend in jobless claims continued to suggest the labor market was tightening. The Commerce Department said consumer
The technology giant plans to build a new data center at the site of a former coal-fired power plant in Alabama.
The head of Japan’s Takata Corp (7312.T) said an internal probe into its potentially deadly air bag inflators was not progressing well, but vowed to stay at the helm until trust in the safety of its products was restored. Facing the media for the first time since the company’s recall crisis erupted over a year ago, Chief Executive Shigehisa Takada apologised for the defective inflators, which have been linked to
China plans to launch a yuan-denominated gold fix by the end of 2015 via the Shanghai Gold Exchange (SGE), in a move aimed at giving the world’s biggest bullion producer and consumer more influence over pricing. The first public confirmation made by an exchange official comes after Reuters cited sources in February on the proposal for the fix to be set through trading on the SGE, the world’s biggest physical
Wall Street opened higher on Thursday as data showed that the U.S. economy was on the path to recovery after consumer spending recorded its largest increase in nearly six years. Investors have been keeping a sharp eye on economic data for signs of a recovery in the U.S. economy, which came to a crawl in the first quarter, as the Federal Reserve prepares to raise interest rates for the first
The European Central Bank held a crucial cash lifeline for Greece unchanged on Thursday, a person familiar with the discussion said, as the head of the Bundesbank objected to the way Greek banks are being funded.
Yahoo Finance Editor-in-Chief Andy Serwer talks with IAC Chairman Barry Diller about the just-announced Match.com IPO and a lot more.
Greece again affecting stocks, this time pushing them higher on renewed optimism a deal on the country’s debt crisis WILL be reached. Plus, investors get a follow up to yesterday’s positive news on U.S. consumers. And will Wall Street “love” Match.com? There’s word a hookup is coming soon.
From Russia in 1998 to Japan after its real estate bubble and the Great Depression in the U.S., bouncing back has taken years, with no guarantee of success.
Another day, another Donald Trump feud! The real estate mogul made some controversial comments about Mexican immigrants when he announced his bid for president last week, and as a…
