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European leaders call for banking supervision

Submitted by Fox First at Ten on October 5th

VALLETTA, Malta (AP) - Leaders of five European countries have agreed that the European Union must pave the way towards a single European banking supervision system to be operational by January. The leaders of France, Italy, Spain, Portugal and Malta said in a statement at the end of their meeting

Commodities futures prices fall broadly

Submitted by Fox First at Ten on October 5th

By The Associated Press Commodities futures closed lower across the board Friday, bringing the price of gold down a day after hitting its highest level in nine months. Metals, most energy prices and "soft" commodities like coffee and cocoa fell. Gold for December delivery gave up $15.70 to $1,

Stocks mixed after US unemployment rate drops

Submitted by Fox First at Ten on October 5th

By The Associated Press Stocks struggled to a mixed close on Wall Street, giving up an early rally after the government said the unemployment situation was better than many economists had expected. Stock indexes initially rose, but the gains were mostly gone by afternoon. The Dow Jones

IADB providing $8B in credit lines

Submitted by Fox First at Ten on October 5th

WASHINGTON (AP) - The Inter-American Development Bank is providing $8 billion in credit for Latin American and Caribbean countries for programs to aid the poor who are affected by outside financial events and for emergency needs in natural disasters. The IADB, which is a major lender for projects

Cyprus seeks bailout deal by month's end

Submitted by Fox First at Ten on October 5th

NICOSIA, Cyprus (AP) - Cyprus' government spokesman says the country is looking to clinch a bailout deal with potential creditors in the coming weeks so that the agreement can get the backing of the other 16 countries that use the euro when their finance ministers meet next month. Stefanos

American says it has fixed seats on 42 planes

Submitted by Fox First at Ten on October 5th

DALLAS (AP) - American Airlines says it has repaired 42 of 48 planes that were pulled aside and inspected because the seats could come loose. The airline said Friday that all seat repairs on its Boeing 757 airplanes should be done by Saturday. American canceled 44 flights Friday after it scrapped

US consumer credit up $18.1 billion in August

Submitted by Fox First at Ten on October 5th

By MARTIN CRUTSINGERAP Economics Writer WASHINGTON (AP) - Americans boosted their borrowing in August by the largest amount in three months with strong gains in the category that covers auto and student loans and in credit card debt. Total consumer borrowing increased $18.1 billion in August

Job trends key to presidents seeking re-election

Submitted by Fox First at Ten on October 5th

By Associated Press WASHINGTON (AP) - Rising unemployment hurts an incumbent president's re-election prospects. Here's a look at the role unemployment trends have played in elections since 1980 when sitting presidents sought to stay in the White House.

Dollar mixed after US jobs report

Submitted by Fox First at Ten on October 5th

NEW YORK (AP) - The dollar is trading mixed against other currencies after the unemployment rate fell to its lowest level in nearly four years last month. The Labor Department says that the unemployment rate fell to 7.8 percent in September, down from 8.1 percent in August. That's the lowest

US drops 11 to 1,837 rigs exploring for oil, gas

Submitted by Fox First at Ten on October 5th

HOUSTON (AP) - The number of rigs actively exploring for oil and natural gas in the U.S. dropped this week by 11 to 1,837. Texas-based oilfield services company Baker Hughes Inc. reported Friday that 1,398 rigs were exploring for oil and 437 were searching for gas. Two were listed as miscellaneous