Economy
Stocks end lower as investors reassess Fed worries
Stocks end lower after bumpy trading day, investors reassess Fed worries, China economy
NEW YORK, N.Y. - Stocks are ending the day slightly lower after recouping a big loss early on.
U.S. markets fell immediately after the opening bell following a global slump prompted in part by an unexpectedly weak report on manufacturing in China.
Concern that the Federal Reserve might ease back on its economic stimulus program sooner than expected had also riled investors.
The market recovered much of the losses as investors considered those fears overdone.
Markets roiled by Nikkei's 7.3 per cent slide
Stocks around the world take a battering after Japan's Nikkei tanks over 7 per cent
LONDON - Financial markets around the world were roiled Thursday after Japanese stocks suffered their biggest slide since the country was hit by a devastating tsunami more than two years ago.
Several reasons have been blamed for the 7.3 per cent fall in the Nikkei index to 14,483.98, including a spike in the Japanese government's borrowing costs and unexpectedly weak Chinese manufacturing figures.
Pope leads pep rally at Vatican, meets with Merkel
Pope decries more concern over banks than people; leads Vatican rally, meets with Merkel
VATICAN CITY - Pope Francis lamented that investment losses by banks trigger more alarm in the economic crisis than the struggle of people to feed their families, as he led a huge rally Saturday to invigorate the church's moral conscience, hours after he held talks at the Vatican about the economic crisis with Germany's leader.
Argentine dictator Videla dies in prison at age 87
Former Argentine dictator Jorge Videla dies of natural causes at age 87 serving life in prison
BUENOS AIRES, Argentina - Former dictator Jorge Rafael Videla, who took power over Argentina in a 1976 coup and led a military junta that killed thousands of his fellow citizens in a dirty war to eliminate so-called "subversives," died quietly in his sleep Friday while serving life in prison for crimes against humanity. He was 87.
Retail sales weaken in Dec. but cap a record year
Retail sales inch up to end record year; holiday-season layoffs boost unemployment claims
WASHINGTON - America's retailers enjoyed a record 2011 and their first $400 billion sales months ever. But the final month of the year was a dud.
Sales eked out a 0.1 per cent increase in December, to a seasonally adjusted $400.6 billion.
It was the second straight month that sales topped $400 billion. Revised government data showed that sales in November also surpassed that level.
Financial crisis lays seeds of 'dystopian future'
World Economic Forum warns that financial crisis is laying seeds of 'dystopian future'
LONDON - The World Economic Forum warned Wednesday that the financial crisis that has gripped the global economy for the past few years is fueling resentment that could lay the seeds for a rising tide of protectionism, nationalism and social unrest.
In its assessment of the risks to the global economy, the Forum flagged a "dystopian future" for much of humanity that could wipe out the gains achieved so far by globalization and undermine a nascent economic recovery.
Wall Street futures edge lower on euro worries
US stock futures creep lower on worries about slowing German economy
NEW YORK, N.Y. - U.S. stock futures are edging lower as worries about a recession in Europe are outweighing hopes that the U.S. economic recovery will gather steam and help corporate earnings.
Dow Jones industrial futures are down 26 points, or 0.2 per cent, at 12,363 on Wednesday. Futures for the broader S&P 500 index are down 0.3 per cent to 1,283. The Nasdaq composite is down slightly at 2,356.
Skyscraper boom may herald downturn
Pride cometh before a fall: Skyscraper boom may herald economic downturn
MUMBAI, India - A skyscraper building boom in China and India may be a sign of an impending economic correction in two of Asia's largest economies, according to a new report by Barclays Capital.
Barclays has mapped an "unhealthy correlation" between construction of the world's tallest buildings and impending financial crises over the last 140 years.
Today, China is home to half of the world's skyscrapers — defined as buildings over 240 metres tall — currently under construction.
