Borrowers rush to buy homes as rates spike
The jump in interest rates’ to their highest level this year caused a surge in mortgage applications. Why? Fear that rates will move even higher.
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Fund pros dump government bonds, rout continues
Investors have had to quickly get used to the recent spurt of market volatility and, with few assets offering a safe haven from the rout, investors are eyeing the vulnerable bond sector for direction.
U.S. ousts Russia as world's top oil, gas producer: BP Report
The U.S. has taken Russia’s crown as the world’s biggest oil and natural-gas producer, illustrating the seismic shifts in the global energy landscape caused by America’s shale fields.
GM North American labor chief retires ahead of UAW talks
General Motors Co said on Wednesday its North American labor chief retired last week, as the No. 1 U.S. automaker prepares to open negotiations with the union representing its U.S. hourly work force. GM said Rex Blackwell, its 60-year-old North America labor relations vice president, retired on June 1. In April, he had been promoted to lead negotiator for the coming talks over a new contract with the United Auto
Expect a "Fed lift-off tantrum" and avoid these investments
For investors, who are particularly nervous about how rising rates will affect their portfolios, sectors to stay away from.
Target doubles share buyback to $10B; dividend up 7.7 pct.
Target is doubling its share buyback program to $10 billion and boosting its quarterly dividend by 7.7 percent. The announcement comes after the company inadvertently said on its website Tuesday that it …
Facebook earns 51% of ad revenue overseas
Overseas markets bring in more advertising revenue than the United States for Facebook Inc, amounting to 51 percent of global ad sales in the first quarter, with growth in Asia the fastest in the world at 57 percent, company executives told Reuters. While Facebook has reported regional growth in percentage terms, this is the first time it has detailed ad sales outside the United States and Canada as a percent
Oil prices jump on U.S. stock draw, easing production
Oil prices rose on Wednesday after U.S. government data confirmed a big weekly drawdown in crude inventories and on signs that U.S. oil production growth was leveling off after several years of sharp increases. The U.S. government’s Energy Information Administration (EIA) said on Wednesday that U.S. crude oil stocks fell 6.81 million barrels to 470.6 million last week, much more than a forecast drawdown of 1.72 million barrels. The data
World stocks uneven as Greek impasse looms again, Yen jumps
World stock benchmarks were uneven Wednesday as Greek and EU officials tried once again to break the deadlock over Greece’s bailout terms. The yen jumped after Japan’s central bank chief said the currency’s …
Bones Finale Sneak Peek: Whoa, Is Brennan Leaving Her Job?!
“Don’t you think we might need a change?” Whoa, is Bones about to change forever? Hot on the heels of Angela (Michaela Conlin) and Hodgins’ (TJ Thyne) decision…