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Stocks are falling after heavy-equipment maker Caterpillar Inc. reported weak results in the second quarter, sowing doubts about the pace of the global recovery.
The weaker results from Caterpillar and a continuing deadlock over raising the U.S. borrowing limit pushed stocks lower. Overseas markets rose after European leaders reached a deal aimed at containing the region’s […]
The Obama administration said Tuesday it is buying more than 100 Chevrolet Volts and other electric cars as it moves to improve fuel efficiency of the government’s massive fleet of cars and trucks.
The plan by the General Services Administration to buy 116 plug-in electric cars marks the government’s first purchase of road-ready electric vehicles, a […]
The European Union warned Friday that the debt loads of Greece, Ireland and Portugal will be much bigger than previously forecast, adding to fears that international bailouts are failing to solve the region’s crisis.
The EU’s Monetary Affairs Commissioner Olli Rehn said Greece needed to cut spending even further than foreseen in its bailout program. While […]
Australian house prices declined in the first quarter by the most since 2008 as higher borrowing costs curbed demand and floods disrupted the property market in Queensland state.
An index measuring the weighted average of prices for established houses in eight major cities slid 1.7 percent from three months earlier, the biggest fall since the […]
The Federal Reserve may need to begin an exit from record levels of monetary accommodation even amid global uncertainties in Japan and the Middle East, St. Louis Federal Reserve President James Bullard said.
“The process of normalizing policy, even once it begins, will still leave unprecedented policy accommodation on the table,” Bullard said at a […]
The operator of Japan’s crippled, leaking nuclear plant says two of the six reactor units are now safely under control after their fuel storage pools cooled down.
Tokyo Electric Power Company declared Units 5 and 6 safe Sunday night after days of pumping water into the reactors pool brought temperatures down.
Bringing the two units under control […]
China on Friday ordered its banks to raise the amount of money they hold in reserves in another move to curb lending and cool a spike in inflation.
The People’s Bank of China said banks must raise reserves by 0.5 percent of deposits. This is the third such move this year by the central bank and […]
China’s government says inflation held steady at 4.9 percent in February despite efforts to cool price rises.
Friday’s announcement adds to pressure on communist leaders to rein in surging living costs that they worry could fuel social tensions. The rate was above the government’s target of 4 percent inflation this year and close to November’s 28-month […]
A federal judge overseeing lawsuits against Toyota Motor Corp. for sudden acceleration problems is considering ways to prevent leaks of the source code the carmaker calls the “crown jewel” of its intellectual property.
U.S. District Judge James B. Selna said Friday that the automaker can monitor plaintiff experts’ access to its proprietary source code and they […]
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Shoppers pushed retail sales up for a seventh straight month although the increase was the weakest showing since June.
The Commerce Department says retail sales rose 0.3 percent last month, with demand rising at department stores, electronic stores and auto dealerships.
The increase was just half of what economists had expected. Still, it came in a month […]