Facebook will also create a new subsidiary, Calibra, to build a digital wallet for people to store and exchange the currency using apps.Technologyread more
President Donald Trump went after European Central Bank President Mario Draghi on Tuesday for opening the door for more monetary stimulus in Europe, which would weaken the...Marketsread more
Experts expect Facebook's cryptocurrency venture to alleviate some security issues, while introducing new ones.Cybersecurityread more
European Central Bank President Mario Draghi defended the tools that the organization has available.Europe Newsread more
Trump's disruptive trade confrontations have sent shockwaves through the business world, while, insiders say, companies may wonder whether associating with the president could...Politicsread more
According to China's top economic planning body, some local companies are cutting back on their efforts to hire new university graduates.China Economyread more
The chipmaker crush could persist and investors should be selective, but Nvidia looks like a clear buy, one market watcher says.Trading Nationread more
Americans for Prosperity, the political arm of the vast group co-founded by libertarian billionaire Charles Koch, announces it will back the one-term Republican to defend a...Politicsread more
The rollout is part Best Buy's bigger push to be a destination for health tech.Retailread more
Korean Air has provisionally ordered 20 Boeing 787 Dreamliner passenger jets and agreed to lease another 10, the companies said on Tuesday.Aerospace & Defenseread more
German Chancellor Angela Merkel has presided over a tumultuous recent period, which for many, has left Europe on the brink.Commentaryread more
A monthly gauge of U.S. consumer sentiment fell in May as a gloomy view on income growth clouded an otherwise positive economic outlook, a survey released on Friday showed.
The Thomson Reuters/University of Michigan's preliminary May reading on the overall index on consumer sentiment came in at 81.8, down from 84.1 the month before.
It was also below the expectation of 84.5 among economists polled by Reuters.
"The main concern behind the small May loss involved dispiriting trends in wages, " survey director Richard Curtin said in a statement, as the median gain in household income for the next year was seen below inflation expectations.
However, Curtin said, "consumers judged the current state of the economy at the most favorable levels in ten years. "
Some 58 percent of consumers reported that the economy had improved, up from 49 percent in April. The May proportion matched two readings from 2013 as the highest going back to 2004.
The survey's barometer of current economic conditions fell to 95.1 from 98.7 and below a forecast of 99.0.
The gauge of consumer expectations slipped to 73.2 from 74.7 and fell short of an expected 75.0.
The survey's one-year inflation expectation remained unchanged from last month at 3.2 percent, while the survey's five-to-10-year inflation outlook dipped to 2.8 percent from 2.9 percent.