Contracts to buy previously owned U.S. homes rose for a fourth straight month in April to a nine-year high, buoying the outlook for the housing market and the overall economy.
Industry
Gap to close 175 stores, cut jobs at headquarters
Apparel retailer Gap Inc (GPS.N) said it would close a quarter of Gap specialty stores in North America over the next few years, including 140 this year, potentially affecting thousands of jobs as the company struggles with a slump in sales at its namesake brand.
For risk-wary gold miners, small is beautiful
Bigger isn't better for the world's gold miners, who are increasingly making "bite-sized" developments that carry less risk of budget disasters and fewer of the political and environmental disputes that have derailed mega-mines in recent years.
Robust U.S. jobs report boosts chances of Sept Fed rate hike
U.S. job growth accelerated sharply in May and wages picked up, signs of strong momentum in the economy that bolster prospects for a Federal Reserve interest rate hike in September.
U.S. jobs market seen firming despite lackluster growth
U.S. job growth was likely solid in May and wages probably picked up a bit, suggesting sufficient momentum in the economy for the Federal Reserve to raise interest rates later this year.
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Australian Symon Drake-Brockman is on the front line of a revolution in European finance. The former head of global debt markets at Royal Bank of Scotland (RBS.L) now runs Pemberton Asset Management in London's genteel Belgravia, several miles from the "Square Mile" City of London financial district where bankers work.
A gauge of U.S. business investment spending plans increased solidly for a second straight month in April, a hopeful sign for manufacturing activity after a long spell of weakness.
Roger Ver appears to have gotten the upper hand and comes out in public to show that he's above-board. Bitcoin.com is definitely his and that OKCoin reneges on its payment to him.
The dollar hit a one-month high against a basket of major currencies on Monday after stronger-than-expected underlying U.S. inflation bolstered the Federal Reserve's case for an interest rate hike later this year.
India's largest cigarette maker, reported a lower-than-expected quarterly profit as higher taxes on smokes and a government push to discourage tobacco consumption hurt business.
Hewlett-Packard Co (HPQ.N), the world's No. 2 PC maker, reported a quarterly profit above market estimates, helped by cost cuts, sending its shares up more than 3 percent in after-market trading.
The number of Americans filing new claims for unemployment benefits rose slightly more than expected last week, but the underlying trend continued to suggest the labor market was tightening.
Wal-Mart Stores Inc (WMT.N) reported lower-than-expected quarterly U.S. same-store sales growth, saying its customers were using their tax refunds and savings at the pump to pay down debt rather than spend on discretionary items.
In barns filled with classical music and lighting that changes to match the hues outside, rows of chickens are fed a diet rich in probiotics, a regimen designed to remove the need for the drugs and chemicals that have tainted the global food chain.
