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.
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After George Soros , the influential hedge fund manager, posted a speech he gave at an economics conference in Italy last week, the financial blogosphere and the mainstream media, including the New York Times and the Washington Post lit up -- mostly with praise. Joe Weisenthal, Business Insider's blogger, called it "brilliant," "dynamo" and "killer." On Twitter , Tony Fratto, a CNBC contributor and former treasury secretary, wrote that he'd "never had anything recommended to him more frequently." The speech begins with a wonky description of the state of modern economics and then dives deeply into an intriguing analysis of the European financial crisis -- and warns that there are only a few months left to resolve it or the debacle will bring down global economies with it. His assessment is novel: He sees the crisis as a political "bubble" that began to emerge with the very first steps of European unification; the road to this crisis, Soros says, was paved with the best of geopolitical intentions.
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.
The Federal Reserve is proposing that U.S. banks, large and small, abide by a rigorous interpretation of an international capital standards agreement known as Basel III.
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.
With the euro zone economy in crisis mode, Chinese companies have decided the time has come for a shopping spree in one of the most attractive supermarkets: debt-ridden Europe. Chinese direct investment into Europe tripled from 2006 to 2009 before tripling again last year to $10 billion, according to a Rhodium Group study published Thursday. "We need the money," European Union Trade Chief Karel De Gucht said in a speech Thursday in Brussels
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