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An unprecedented credit rating downgrade of U.S. government debt by Standard and Poor’s helped send the Toronto stock market tumbling about 400 points Monday.
The move Friday evening by the ratings agency has further bruised investor confidence that American and European leaders can stem worsening economic conditions and deal with a European government debt crisis.
The S&P/TSX […]
Signs that a global economic slowdown may be less serious than previously thought and a recovery in manufacturing in post-quake Japan sent Asian stock markets higher Wednesday.
Japan’s Nikkei 225 rose 1 percent higher to 9,745.69 after the government said the country’s industrial production rose 5.7 percent in May.
While the number was lower than the government’s […]
Specialty glass maker Corning Inc. said Wednesday its first-quarter profit fell 8 percent, largely because of a higher tax rate. But its revenue surged 24 percent on robust sales of glass for flat-screen televisions, computers and mobile devices.
The results beat Wall Street expectations. Its shares rose 1.5 percent in afternoon trading.
The world’s largest maker of […]
A spike in the cost of gasoline pushed wholesale prices higher in March, a trend that could limit consumer spending in the coming months.
Still, most economists don’t expect that will lead to widespread inflation because businesses are wary of raising prices when most people aren’t getting pay increases.
Gasoline at the wholesale level jumped 5.7 percent […]
After notching a rare victory by stopping highly radioactive water from flowing into the Pacific on Wednesday, workers at Japan’s flooded nuclear power complex turned to their next task: injecting nitrogen to prevent more hydrogen explosions.
Nuclear officials said there was no immediate threat of explosions like the three that rocked the Fukushima Dai-ichi plant not […]
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The United Nations mission in Ivory Coast began evacuating some 200 employees after frequent attacks on its headquarters by forces loyal to the country’s strongman.
A U.N. employee said they were told Sunday that they were leaving. They were taken by helicopter from the U.N. base downtown to the airport. Another helicopter will take them to […]
The White House says President Barack Obama will travel to Philadelphia and New York next week to continue pressing his energy policies and to attend an annual meeting of a civil rights group headed by activist Al Sharpton.
The president will travel first to Philadelphia on Wednesday to hold a town hall meeting at Gamesa Technology […]
Amsted Rail Co. has rehired about 700 workers at its Granite City plant in recent months, with plans to add 250 new employees.
“It’s going great. We have all our people back at work,” said Robert Lott, president of United Steelworkers of America Local 1063, the union representing workers.
The Chicago-based maker of rail machinery laid off […]
There may have been a fundamental safety design problem with the pods that controlled the massive device that failed to stop the Gulf oil spill, federal investigators said Friday as they asked that more testing be done to confirm that.
The U.S. Chemical Safety Board has objected to the government’s decision to halt testing of the […]
Unemployment is above 13 percent, Irish taxpayers have reluctantly become bank owners, the value of the family home has plummeted and the nation is in hock to the European Union and the International Monetary Fund.
No wonder every party campaigning in Ireland’s national election is promising change.
Ireland’s 3.1 million voters make their choices on Friday, with […]
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