China 's inflation cooled in May, giving Beijing more wiggle room to loosen policy and stimulate growth. The world's second-largest economy reported its consumer price index rose 3 percent in May from a year earlier -- the slowest pace in two years. That was down from April's 3.4 percent increase and lower than economists' forecast of a 3.2 percent rise.
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Lower U.S. demand for crude oil and petroleum products in April helped shrink the nation's balance-of-trade deficit from the previous month, the Commerce Department said Friday, but the trade deficit with China worsened.
Lower U.S. demand for crude oil and petroleum products in April helped shrink the nation's balance-of-trade deficit from the previous month, the Commerce Department said Friday.
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McDonald's Corp. ( NYSE : MCD), the world's largest restaurant company, said Friday that sales in locations open 13 months or more increased by 3.3 percent, but sales declines in Japan and China . The result missed forecasts by analysts polled by Consensus Metrix had expected an increase of 5.3 percent.
Abodoli pictured in October 2011 leaving court Kweku Adoboli, the ex-UBS employee at the centre of one of the largest rogue trading scandals in recent history was granted bail by a London court, ahead of his trial on 3 September. Adoboli, who denies charges of fraud and false accounting which cost the Switzerland-based bank UBS $2.3bn last year, was previously denied bail in February.
Depositors from eurozone nations find the German banks as a safe haven for their money as the banking crisis gripped more nations in the region along with lack of any tangible solution to the sovereign debt crisis, so far. Deposits in the German banks recorded a 4.4 percent increase and reached 2.17 trillion euros ($2.73 trillion) as of 30 April, according to European Central Bank (ECB) statistics.
Shares of Facebook (Nasdaq: FB), the No. 1 social networking site, fell nearly 2 percent on Thursday, exactly three weeks after the company took in $16 billion in its initial public offering. Facebook shares closed down 50 cents at $26.31, only slightly above their daily low of $26.15
Fitch Ratings on Friday downgraded Spain's long-term sovereign credit rating from A to BBB, just one notch from junk grade because of the increasing estimated cost of fixing the country's banking system from 3 percent of GDP to as much as 9 percent, or €100 billion ($126 billion).