Gold fell on Monday, notching its first monthly decline in six months, as strong U.S. factory and spending data coupled with fading worries about the euro zone debt crisis put a damper on the metal’s rally. Get the full story »
Inside these posts: Euro
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Estonia: McDonald’s prices hiked in currency change
Estonia’s Consumer Protection Board said U.S. fastfood franchise McDonald’s Corp. may have used the Estonian changeover from kroon to euro as a cover to raise prices, according to a report from the BNS news agency Monday. Get the full story »
Sara Lee sells rest of body care brands to Unilever
Sara Lee Corp. has completed the $1.6 billion sale of its body care and European detergent segments to Unilever NV, the food company said Monday. Get the full story »
Wall Street slides on euro-debt woes
Commodity-related shares led U.S. stocks lower on Friday in a shortened post-holiday session as investors unloaded risky assets on worries that euro-zone debt problems may spread.
Consumer stocks were also a major focus as Black Friday, often the biggest shopping day of the year, began what is expected to be the strongest holiday shopping season in three years.
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Dollar dealt another blow
The dollar fell sharply against a broad range of currencies Thursday as prospects for Asian economic growth contrasted with the likely need for more stimulus in the U.S.
A monetary-tightening move overnight by the Monetary Authority of Singapore accelerated the dollar’s slide, knocking the greenback to long-term lows against rivals in Asia, Europe and North America before regaining some poise in New York trading. Get the full story »
Euro tops $1.40 as dollar weakens
The euro broke above the $1.4000 level Thursday on electronic trading platform EBS as the dollar continued to weaken on concerns about additional U.S. quantitative easing.
The euro last traded up 0.5 percent, at $1.4012 after climbing to $1.4015 on EBS.
Europe holds interest rates at 1%
The European Central Bank will face scrutiny on Thursday over its response to a growing global battle over currencies and a spike in market interest rates after it held interest rates at a record low 1.0 percent.
The rate decision came as no surprise as all 79 economists in a Reuters poll had predicted the ECB would leave rates on hold for the 17th month in a row. The median forecast is for no change until the fourth quarter of next year. Get the full story »
