Stocks News

Bank of America Corp. says its lead outside director, O. Temple Sloan Jr., has resigned from its board.

"The recent growth in the RPI was driven by the Expectations component, which rose above 100 in April for the first time in 18 months, a level which indicates expansion," said Hudson Riehle, senior vice president of Research and Information Services for the Association.

Royal Bank of Canada reported a second quarter loss of $50-million, or 7 cents a share, down from a profit of $928-million, or 70 cents a share, from last year as the bank took a previously announced $1-billion goodwill impairment charge on its international banking unit.

The dollar hit five-month lows against a basket of currencies on Friday and the yen also dropped as investors sought higher-yielding and riskier assets, believing the worst of the global recession may have passed.

Interview and discussion with Benedikt Germanier of the UBS AG. He gives his thoughts on our Dollar economy.

The dollar fell steeply to multimonth lows against several currencies Friday as a report saying the US economy is still shrinking couldn't sink investors' taste for riskier assets.

The 16 countries that use the euro saw zero inflation in the year to May, official figures showed Friday, stoking expectations prices may fall for several months - and increasing concern about whether policymakers are doing enough to ward off a debilitating downward spiral.

Friday, May 29 11:37:27 World stocks posted a new 2009 high today, hitting levels last seen six months ago, and the dollar sank to a five-month low against major currencies on hopes the global economy has seen the worst of its downturn.

U.K. house prices unexpectedly rebounded in May, matching the biggest gain since 2006, in a sign the property market slump is easing, Nationwide Building Society said.

The dollar fell against the euro but edged up against the pound Thursday after a report showed the tally of newly laid-off people requesting jobless benefits fell last week, while robust demand at an auction for Treasury debt eased fears that the government would have to pay higher interest rates to entice buyers.