The United States was on track to expand 0.7 percent in the second quarter after data showed domestic housing starts surged to their strongest level in about 7-1/2 years in April, Atlanta Fed's GDPnow forecast model showed on Tuesday.
Sectors
Apple, Android app makers cool to Microsoft overtures
Microsoft's plan to make its new version of Windows a mobile hit by letting it accept tweaked Apple and Android apps has met an obstacle: some of the software developers the company needs to woo just aren't interested.
Huawei stakes claim in 'Internet of Things' market with new operating system
China's Huawei Technologies Co Ltd, the world's biggest telecommunications equipment maker, on Wednesday became the latest tech giant to present its own take on the 'Internet of Things' (IoT), centered on an operating system designed to allow household and business appliances to communicate with each other online.
Oil prices rise on U.S. stock draw, strong Japan data
Crude oil prices bounced back on Wednesday from steep falls in the previous session as industry data showed that U.S. crude stocks fell more than expected last week.
Takata doubling U.S. recall for defective air bags to 34 million vehicles
Japanese air bag manufacturer Takata Corp is doubling a recall of potentially deadly air bags to nearly 34 million vehicles, creating the largest automotive recall in American history, U.S. safety regulators said on Tuesday.
Latest News
The Federal Reserve’s plan to raise interest rates this year, forged over months of strong jobs growth and a seemingly durable expansion, now faces an economy that no longer follows the script and may push the “liftoff” far into the future.
International automakers are slashing prices for vehicles they sell in China in response to a slowdown in demand that threatens the industry's rich profit margins.
Russia avoided further diplomatic confrontation with Ukraine and the European Union at three-way trade talks on Monday and did not renew previous demands for Kiev's duty-free deal with the bloc to be put on hold.
Brent crude oil fell below $66 a barrel on Tuesday as the dollar strengthened and on evidence of ample supplies of Middle Eastern oil despite wars in northern Iraq, Syria and Yemen.
Apple Inc had scrapped plans of introducing an ultra-high-definition television set more than a year ago, Wall Street Journal said citing sources familiar with the matter.
Chinese policymakers on Monday announced guidelines for reform priorities in 2015, ranging from streamlining administrative procedures to boosting the yuan's global role, as Beijing steps up efforts to open up the country's capital markets.
Greece's labor minister said on Tuesday Athens would soon conclude a deal with its foreign creditors that could unlock further loans to the cash-starved country.
Dassault Aviation (AVMD.PA) will double production of its Rafale combat jet within two to three years of the completion of a planned sale to India, its chief executive said on Monday.
The U.S. economy is probably not as weak as current estimates suggest, a paper published Monday by the Federal Reserve Bank of San Francisco said, potentially adding to arguments for raising interest rates sooner rather than later.
