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US natural gas supplies grew last week

Submitted by Fox First at Ten on November 8th

NEW YORK (AP) - The nation's natural gas supplies rose last week, the government said Thursday. The Energy Department's Energy Information Administration reported that natural gas in storage grew by 21 billion cubic feet to 3.929 trillion cubic feet for the week ended Nov. 2. Analysts

Spain completes year's financing with $6B auction

Submitted by Fox First at Ten on November 8th

By CIARAN GILESAssociated Press MADRID (AP) - Spain's government has met its financing needs for the year after raising €4.76 billion ($6.07 billion) in a bond auction on Thursday. The Treasury said it had reached the bond auction target of €86 billion although it has a half dozen more

JPMorgan gets Fed OK to restart start buybacks

Submitted by Fox First at Ten on November 8th

NEW YORK (AP) - JPMorgan Chase said Thursday that it has won approval from the Federal Reserve to start buying back its own stock. The bank suspended the plan in May, after it revealed a surprise trading loss that grew to more than $6 billion. The bank said in a regulatory filing that the Fed gave

Judge approves bid procedures in A123 bankruptcy

Submitted by Fox First at Ten on November 8th

By RANDALL CHASEAP Business Writer WILMINGTON, Del. (AP) - A judge ruled Thursday that bankruptcy proceedings for A123 Systems can move forward after the advanced battery maker reduced the fee that would have to be paid to the lead bidder for its assets should the deal fall apart. Creditors, a

Stocks slide on Wall Street, extending sell-off

Submitted by Fox First at Ten on November 8th

By STEVE ROTHWELLAP Business Writer NEW YORK (AP) - Stocks slid on Wall Street Thursday, a day after the Dow Jones industrial average logged its biggest one-day drop of the year, as investors fretted about the potential for gridlock in Washington. The Dow closed down 121.41 points to 12,811.32

How US states fared on jobless aid applications

Submitted by Fox First at Ten on November 8th

By The Associated Press The number of people seeking unemployment benefits fell last week by 8,000 to a seasonally adjusted 355,000, a possible sign of a healing job market. But Labor Department officials cautioned that the figures were distorted by Superstorm Sandy. Here are the states with

Average US rate on 30-year loan rises to 3.40 pct.

Submitted by Fox First at Ten on November 8th

By MARCY GORDONAP Business Writer WASHINGTON (AP) - The average U.S. rate on the 30-year fixed mortgage was little changed this week, staying slightly above its record low. Cheaper mortgages are helping drive a modest housing recovery. Mortgage buyer Freddie Mac said Thursday that the rate on

Stocks stabilize a day after huge sell-off

Submitted by Fox First at Ten on November 8th

NEW YORK (AP) - Stocks are inching higher in early trading on Wall Street, a day after the biggest plunge of the year. Investors were encouraged by two U.S. economic reports early Thursday, a slight decrease in applications for unemployment benefits and a narrower trade deficit. The Dow Jones

Text of statement by ECB President Mario Draghi

Submitted by Fox First at Ten on November 8th

By The Associated Press Below is the full text of the statement that European Central Bank President Mario Draghi delivered at his press conference on Thursday. "Ladies and gentlemen, the Vice-President and I are very pleased to welcome you to our press conference. We will now report on the

US trade deficit narrows to $41.5 billion

Submitted by Fox First at Ten on November 8th

By MARTIN CRUTSINGERAP Economics Writer WASHINGTON (AP) - The U.S. trade deficit declined to the lowest level in nearly two years because exports rose to a record high. The gain may not last given the global economic slowdown. Still, the narrower trade deficit could lead the government to