Investors flee US stocks at financial-crisis levels
In April, U.S. equity mutual funds and ETFs saw their biggest outflows since October 2008. But pro traders say that’s actually a bullish sign.
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Freddie Mac to hand $746 mln to U.S. Treasury
Government-controlled mortgage finance firm Freddie Mac on Tuesday said it will cut a check to the U.S. Treasury for $746 million, its smallest dividend to taxpayers since 2009. Freddie Mac reported a first quarter profit of $524 million, up from $227 million in the fourth quarter. The firm, along with competitor Fannie Mae, was bailed out by U.S. taxpayers in 2008 when a housing slump and financial crisis left it
US trade deficit jumps to 6-year high of $51.4 billion
The U.S. trade deficit in March swelled to the highest level in more than six years, propelled by a flood of imports that may have sapped the U.S. economy of any growth in the first quarter. The deficit …
Only Allah knows about oil prices: Saudi oil chief
With speculation rife over how long Saudi Arabia is content to see oil prices slump, the country’s oil minister said only Allah knows about prices.
Disney profit tops views on theme park, consumer products gains
Walt Disney Co. reported second-quarter profit that beat analysts’ estimates, bolstered by improving results at its theme-park and merchandise units in a period that lacked a major movie blockbuster. Earnings …
Greek PM, Germany's Merkel discuss state of negotiations – official
ATHENS (Reuters) – Greek Prime Minister Alexis Tsipras and German Chancellor Angela Merkel held a phone conversation on Monday night to discuss ongoing talks with international creditors, a Greek government …
China's exports face growing pressure – trade ministry
BEIJING (Reuters) – The devaluation of currencies by some countries has led to sharp gains in the yuan (CNY=CFXS), China’s trade ministry said on Tuesday as it promised to keep the yuan at a “basically …
OPEC: Speculation Played Large Role in Drop in Oil Prices
Oil supply and demand don’t fully justify the 60 percent drop in prices between June and January as speculation also played a role, according to OPEC. A rise in supply from outside the Organization of Petroleum Exporting Countries at a time when demand for oil was weak was the main reason for the drop, OPEC said in its monthly bulletin on Monday. Brent oil, benchmark for more than half of
HSBC first quarter pretax profits up 4 percent
HSBC, Europe’s biggest bank, says pretax profits were up 4 percent to $7.1 billion in the first quarter from a year earlier, even as it beat back increasing regulatory costs. The bank is increasing internal …
Happy Cinco de Mayo! Celebrate With These Stars With Mexican Heritage
Cinco de Mayo is not just a day for fun and fiestas! For many Mexican-Americans, the holiday is a special time to commemorate and celebrate Mexican heritage and pride. From former Disney…