The International Monetary Fund on Thursday trimmed its forecast for global economic growth for this year to take into account the impact of recent weakness in the United States. In an update to its World Economic Outlook report, the IMF said the global economy should expand 3.3 percent this year, 0.2 percentage point below what it predicted in April. Growth should speed up to 3.8 percent next year, it said,
Hopes that Greece can get a rescue deal that will prevent a catastrophic exit from the euro rose on Thursday, after key creditors said they were open to discussing how to ease the country’s debt load, …
Yahoo Finance’s Midday Movers is live each weekday at 12pm ET, covering all the latest news on the markets, the economy and the biggest stories of the day.
U.S. stocks rebounded from a recent decline as a jump in Chinese stocks overnight boosted investor sentiment.
The latest from the Greece’s financial crisis (all times local): ___ 4:20 p.m. Olivier Blanchard, director of research at the International Monetary Fund, says Greece’s troubles pose little threat to the …
Initial claims for state unemployment benefits rose 15,000 to a seasonally adjusted 297,000 for the week that ended July 4, the U.S. Department of Labor said on Thursday. Thursday’s jobless claims report marks the 18th consecutive week of new filings below 300,000.
Oil’s biggest slump in four years will lose momentum because the plunge in Chinese equities and Greece’s economic crisis won’t dent global demand, according to Morgan Stanley, UBS Group AG and Societe Generale SA. Crude is set for a “modest recovery” after declining 13 percent in the five sessions through Wednesday, Morgan Stanley estimates, while demand will push prices up by year-end, according to hedge fund manager Andrew J. Hall.
Coty’s shares fell 6 percent in early trading after the widely expected deal, while P&G was up 0.6 percent. In a tax-efficient deal designed as a “Reverse Morris Trust” transaction, P&G will separate 43 of its cosmetics, fragrance and haircare brands and fold them into Coty. The deal is a game-changer for Coty as it adds popular brands such as Wella and Clairol hair color products and Cover Girl and
“The potential trifecta of shocks from Greece, Puerto Rico, and China all occurring at once…the potential sell off might give us an opportunity,” said Jimmy Lee, CEO of Wealth Consulting Group
Greece’s government is racing to finalize a plan of reforms for its third bailout, hoping this time the proposal will meet with approval from its European partners and stave off a potentially catastrophic …