Finance news

U.K. consumer confidence increased to the highest level in 14 months in June as shoppers became more optimistic that the recession is past its worst, GfK NOP said.
An index of sentiment rose 2 points to minus 25, the strongest result since April 2008, the market researcher said in an e-mailed statement today in […]

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South African credit probably rose at the slowest pace in more than four years in May as banks tightened lending conditions and consumers curbed spending, a survey showed.
Growth in borrowing by households and companies eased to an annual 8.1 percent from 8.7 percent the month before, according to the median estimate of 13 […]

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Stocks rallied Thursday, finding momentum after a week of choppy trading, as investors scooped up a variety of shares hit in the recent selloff — including commodity, consumer, homebuilding and tech issues.
The Dow Jones industrial average (INDU) gained 172 points, or 2.1%. The Dow rose as much as 190 points earlier in the afternoon.
The […]

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Consumer spending probably rose in May for the first time in three months as Americans gained confidence the recession was easing, economists said ahead of reports today.
Purchases increased 0.3 percent after falling 0.1 percent in April, according to the median forecast of 76 economists surveyed by Bloomberg News. Other figures may show a […]

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Convicted Ponzi scammer Bernard Madoff will probably spend the rest of his life in jail.
On June 29, Judge Denny Chin of the U.S. District Court in New York sentences the 71-year-old. The maximum sentence is 150 years in a federal prison, based on Madoff’s guilty plea to 11 criminal counts, including fraud, money laundering, […]

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The U.S. government’s Aaa credit rating “remains solid,” said Pierre Cailleteau, managing director of sovereign risk at Moody’s Investors Service.
“Although the U.S. is losing altitude in the Aaa range, it is starting from a very strong base,” Cailleteau, who is chief international economist at Moody’s, said in Tokyo today. The economy is resilient […]

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Congress will take a second shot at the derivatives industry after its decision nine years ago to forgo regulations led to a $592 trillion market that brought financial firms to their knees.
Using President Barack Obama’s regulatory overhaul proposal last week as a foundation, Senate Banking Committee Chairman Christopher Dodd is holding a hearing […]

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Chancellor of the Exchequer Alistair Darling, signaling a clash with Prime Minister Gordon Brown over spending, said the U.K. government must make tough decisions to curb the budget deficit.
“We must live within our means,” Darling told bankers at the annual Mansion House dinner in London last night. “There are tough choices ahead. I […]

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Chancellor of the Exchequer Alistair Darling, signaling a clash with Prime Minister Gordon Brown over spending, said the U.K. government must make tough decisions to curb the budget deficit.
“We must live within our means,” Darling told bankers at the annual Mansion House dinner in London last night. “There are tough choices ahead. I […]

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American specialty clothing retailer Eddie Bauer Holdings Inc. is up for sale again after filing for bankruptcy court protection from creditors, a move that could affect some of its estimated 36 stores in Canada.
Citing a crushing debt load and prolonged recession, the Bellevue, Wash.-based retailer said it has filed for Chapter 11 bankruptcy protection in […]

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