LONDON - Bank of England Governor Mervyn King has urged successor Mark Carney not to bring to Britain his trademark policy of spelling out how long interest rates will remain low.
7:31am EDT
NEW YORK - The U.S. dollar soared against major currencies on Friday on growing speculation that the Federal Reserve could soon begin to rein in its bond-buying program and after data showed U.S. consumer sentiment hit an almost six-year high in early May.
17 May 2013
NEW YORK - Stocks continued their climb into uncharted territory on Friday, racking up the fourth week of gains in a row as encouraging economic data prompted investors to pick up shares of growth companies. |
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17 May 2013
NEW YORK - The dollar rallied across the board on Friday, topping the 103-yen level as it hit a 4-1/2-year high against the Japanese currency, after data showing a robust rebound in U.S. consumer sentiment prompted investors to add to bullish bets.
17 May 2013
NEW YORK - Investors worldwide cut back on commitments to high-yield "junk" bond funds in the latest week, giving just $100 million to the funds globally after committing over $1 billion the prior week, according to Bank of America Merrill Lynch.
17 May 2013