Corn futures rose to a two-month high on mounting demand from China, the world’s second-biggest consumer.
Morgan Stanley (NYSE:MS) CEO James Gorman denied allegations the US bank misled investors about mortgage derivatives it sold them. The firm is being probed by US prosecutors over whether the bank misled clients when it sold them collateralized debt obligations as its own traders bet that the value of the securities would drop, the Wall Street Journal reported Wednesday.
United States trade deficit rose to a 15-month high in March as rising imports underlined the economy's recovery. Figures from the Commerce Department showed the gap between imports and exports rose 2.5% to 40.4 billion US dollars.
The US reported its largest April budget deficit on record, 82.7 billion USD as receipts declined in a month that typically sees an increase in individual income tax payments, according to the latest release from the Treasury Department.
United States shares closed lower on Tuesday as global stock markets stalled on niggling worries over European debt problems. On Wall Street, the Dow Jones index closed down 0.34% following a turbulent day's trading, and a nearly 4% rise on Monday.
Companies in the United States added 290,000 jobs in April, mostly in the private sector, the United States Department of Labor said Friday, a strong sign that the job market has begun recovering from last year's damaging recession.
United States regulators and stock exchanges are searching for answers after what is believed to be an electronic trading error set off a heart-stopping plunge in markets that rivalled the crash of 1987.
United States big banks should be charged a fee to pay for bailouts as it will make them less prone to reckless lending, US Treasury Secretary Timothy Geithner told lawmakers as he sought support for the proposal.
United States officials have announced a ban on fishing for at least ten days in waters off Louisiana spanning to parts of the Florida panhandle as the oil slick from a leak spreads across the Gulf of Mexico. Rough weather conditions are complicating crews’ efforts to contain the oil slick.
Two US-based airlines, United (NASDAQ: UAUA) and Continental (NYSE: CAL) are merging in a 3.1 billion deal, creating the world's largest airline. The combined firm will have nearly 700 planes, 88,000 workers, and fly to 370 destinations in 59 nations.