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Finance

British Pound Near 7 Year Low

  Wednesday February 25, 2016 – Concerns that Britons would vote to leave the European Union at a June referendum pulled the pound down towards $1.40 (U.S.) and drove it to a fresh seven-year low on Tuesday. The pound, which plummeted 1.7 per cent on Monday, has lost 2.6 per cent this week – its worst two-day showing since 2009. Monday’s ...

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Wall Street Down 183 Points as Oil Slides

  Tuesday February 23, 2016 – A fresh bout of selling swept through Wall Street on Tuesday in the wake of a sharp slide in oil prices, snapping yet another rally in what has been a turbulent year for financial markets. All three major U.S. indexes were down nearly 1 percent as crude sank more than 4 percent after Saudi Oil ...

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Sales of Existing Homes Rise 0.4% in January

  Tuesday February 23, 2016 – Sales of previously owned homes increased modestly in January, a sign of continued solid momentum in the U.S. housing market. Existing-home sales rose 0.4% in January from the prior month to a seasonally adjusted annual rate of 5.47 million, the fastest sales pace since July 2015, the National Association of Realtors said Tuesday. Economists surveyed ...

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U.S. Stocks Jump as Oil Surges Nearly 7%

  Monday February 22, 2016 – Stocks are jumping Monday as the price of oil surges, lifting energy stocks. Mining and chemicals companies and banks are also climbing. The stock market is coming off its best week of the year. The Dow Jones industrial average jumped 204 points, or 1.2 percent, to 16,595 as of 10:27 a.m. Eastern time. The Standard ...

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British Pound Falls After Boris Johnson Backs Exit From EU

  Monday February 22, 2016 – A day after London Mayor Boris Johnson threw a bombshell into British politics by backing a British exit from the European Union, the financial world felt the ricochet Monday as the pound plunged in value. As of midday in London, the British currency had experienced a more than 2 percent drop against the dollar, reaching ...

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Wal-Mart Forecast Slower Growth, Stock Slides

  Thursday February 18, 2016 – Wal-Mart Stores Inc on Thursday reported a lower quarterly profit and gave a lackluster sales outlook as deflation and sluggish apparel demand took a toll, and its shares fell more than 4 percent. Earnings at the world’s largest retailer have been under pressure recently due to costs to raise entry-level wages, spruce up its stores ...

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