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Russia poses risk to global economy

WASHINGTON ― Russia’s suddenly escalating financial crisis risks spilling beyond its borders and endangering parts of the global economy. With economies in Europe, Japan, China and Latin America alr...

Updated : 2014.12.17 21:28

Apple wins class-action lawsuit over iPod prices

OAKLAND, California (AP) ― A federal jury decided Tuesday that Apple didn’t compete unfairly when it sold music players and songs with copy-protection software that was incompatible with rival devic...

Updated : 2014.12.17 20:45

Apple stops sales in Russia

CUPERTINO, California (AP) ― Apple has halted online sales of its iPhones, iPads and other products in Russia amid financial turmoil triggered by the steep decline in the country’s currency.The ruble plunged by as much as 20 percent Tuesday, even after Russia’s central bank increased in...

Updated : 2014.12.17 20:45

Kuwait says OPEC will not step in to support oil prices

KUWAIT CITY (AFP) ― OPEC has no plans to intervene in the oil market to shore up sagging crude prices, the Kuwaiti oil minister said Tuesday, as Brent crude breached the $60 mark.“At OPEC’s meeting...

Updated : 2014.12.17 20:44

Chrysler renamed FCA US

NEW YORK (AFP) ― U.S. automaker Chrysler unveiled Tuesday its new name, FCA US LLC, reflecting its subsidiary status to newly renamed Italian parent Fiat Italy SpA.Until now, the company, the smalles...

Updated : 2014.12.17 20:43

China looking for new markets in Europe

BELGRADE (AP) ― In an attempt to secure business ties and increase political influence, China has launched a charm offensive in eastern Europe ― where the European Union and Russia are also vying fo...

Updated : 2014.12.17 20:42

Oil prices sink further

LONDON  ― Brent oil slumped Tuesday to a new five-year low below $60 per barrel, as shrinking Chinese manufacturing activity stoked global demand concerns, with sentiment also plagued by over-supply...

Updated : 2014.12.16 21:40

Plunging oil ‘to spark more global tensions’

LONDON (AFP) ― The oil market faces an uncertain outlook in 2015 as tumbling prices resulting from global oversupply stoke geopolitical tensions in key producers of crude, analysts say.Oil prices hav...

Updated : 2014.12.16 21:01

Japan P.M. presses for wage rises after ‘Abenomics’ poll win

TOKYO (AFP) ― Prime Minister Shinzo Abe on Tuesday stepped up pressure on business leaders to hike wages as he embarked on a renewed push to reinvigorate Japan’s economy after his weekend election triumph.Stagnant salaries are one of the main missing links in the “virtuous circle” of g...

Updated : 2014.12.16 21:01

Russia raises key rate to protect ailing economy

WASHINGTON (AP) ― The Bank of Russia has raised its key interest rate to 17 percent from 10.5 percent in a desperate move to boost its currency and rescue its troubled economy.The action announced Tu...

Updated : 2014.12.16 21:00

1998 comes calling in currency and credit plunges from Russia to Venezuela

Emerging markets are ending the year much like how they began it ― in freefall. From Russia to Venezuela, Thailand to Brazil, stocks, bonds and currencies across the developing world are plunging. The Russian ruble tumbled past 64 for the first time on record Monday while Venezuelan bonds...

Updated : 2014.12.16 21:00

$40 oil? UAE says OPEC still won’t budge

OPEC will stand by its decision not to cut output even if oil prices fall as low as $40 a barrel and will wait at least three months before considering an emergency meeting, the United Arab Emirates’...

Updated : 2014.12.15 20:48

Central banks, oil price rout to rule markets in 2015

PARIS (AFP) ― Addicted to liquidity and disconnected from the real economy, global markets are likely to dance in 2015 to the different monetary policy tunes played by the U.S. Fed, the ECB and China...

Updated : 2014.12.15 20:47

Gulf stocks reel on sliding oil prices

KUWAIT CITY (AFP) ― Share prices in energy-rich Gulf Arab states fell sharply at the start of the week Sunday, dragged down after global oil prices plunged to new lows.The decline took place on almost all of the region’s seven exchanges, with the Dubai and Qatari markets leading the way ...

Updated : 2014.12.15 20:47

Krugman says Fed rate unlikely to rise in 2015

Paul Krugman, challenging the consensus of economists and the Federal Reserve’s forecasts, said policy makers are unlikely to raise interest rates in 2015 as they struggle to spur inflation amid slug...

Updated : 2014.12.15 20:47