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The cost of everything from corn chips to beef steaks was going higher even before the disastrous floods hit millions of corn and soybean acres in the U.S. Midwest, and now food price increases may be even greater, industry sources said.
Oil prices slipped from record highs on plans by top exporter Saudi Arabia to increase crude output to help curb soaring fuel costs.
High fuel prices and a lackluster economy aren't making life easy for FedEx, but that doesn't mean the shipping giant can't make money.
The dollar fell against the euro after U.S. housing starts plunged to their lowest level in more than 17 years in May, reducing the chance of an early Federal Reserve interest rate increase.
Over the last two weeks I've been inundated with e-mails from readers venting about the latest round of cutbacks Detroit's automakers have announced. What's surprised me the most has been the wide range of reasons why you think the Big 3 are in big trouble.
MF Global energy analyst Ed Meir says today's action may confirm whether yesterday was really the intraday reversal that will take prices lower from here. We're expecting more volatility today with the expiration of July crude options.
U.S. housing starts slid 3.3 percent in May to their lowest level in more than 17 years, while permits for future construction also fell, signaling more weakness ahead for the battered U.S. housing sector.
US producer prices rose by a larger-than-expected 1.4% in May after another jump in energy prices, but core inflation at the producer level moderated as forecast.
Companies and their employees are searching for new ways to deal with soaring gasoline prices that have risen to heights unimaginable only a few months ago.
Britain's inflation rate rose in May to its highest since the Labour government came to power in 1997 but the Bank of England played down the risk of early interest rate rises by saying the path for rates was still "uncertain."
German investor sentiment about the outlook for Europe's largest economy fell by much more than expected in June, a closely watched survey showed on Tuesday.
The euro zone unexpectedly swung to a trade surplus in April from a deficit in March, data showed on Tuesday, as the region's strong currency failed to subdue exports and imports expanded quickly.
An online petition urging the European Central Bank not to raise interest rates in July is gaining ground, with people from France, Spain, Italy but also from English-speaking countries adding their signatures.
The U.S. Federal Reserve does not appear to see a compelling case for raising interest rates before autumn unless the inflation outlook deteriorates considerably, the Wall Street Journal said on Tuesday.
Australia's central bank concluded that interest rates were high enough to cool the economy and restrain inflation, at its June policy meeting, minutes showed on Tuesday, though the board stood ready to tighten further should demand not slow as expected.
I had admired Tim for years before I ever knew him personally. As moderator of "Meet the Press" since 1991, he cut a very large swath through our common profession of political journalism..
Oil prices eased Monday as top world producer Saudi Arabia appeared poised to boost production to the highest level in decades to ease a record rally that has threatened global economic growth.
U.S. homebuilder sentiment sank in June to match the lowest level on record set in December, an industry group said.
The Federal Reserve can keep interest rates on hold for the moment but should not repeat past mistakes by leaving them too low for too long, a top Fed policy-maker said Monday.
European shares slid, led by banks, after a gauge of U.S. regional manufacturing fell short of forecasts on Monday, while Lehman Brothers results were in line with the company's estimates on June 9.
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