November 30th, 2011 by InvestorPoint
NEW DELHI, Nov. 30 (UPI) -- India's economic growth in the fiscal quarter ended September fell to 6.9 percent, the lowest GDP number in more than two years, the government said. The GDP numbers compared with growth of more than 7 percent in the previous quarter and 8.4 percent in the same period of last year, pointing to the impact of the country's current high inflation rate and rising interest rates. The finance minister said while the latest quarterly GDP numbers are low by recent standards, they a...
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November 30th, 2011 by InvestorPoint
WASHINGTON, Nov. 30 (UPI) -- The Mortgage Bankers Association said U.S. mortgage activity fell 11.7 percent in the week ended Friday with long-term mortgage interest rates little changed. Interest rates for 30-year, fixed-rate mortgages fell from 4.23 percent to 4.21 percent with points rising from 0.46 to 0.49, the trade group said. Rates for 15-year, fixed-rate contracts were unchanged at 3.58 percent with points dropping from 0.53 to 0.45. The association said its weekly refinancing index also f...
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November 30th, 2011 by InvestorPoint
WASHINGTON, Nov. 30 (UPI) -- The Federal Reserve said the U.S. economy has shown "slow to moderate" gains since mid-October. In the Fed's periodic summary of the U.S. economy, known as the Beige Book report, the central bank said "overall economic activity increased at a slow to moderate pace since the previous report." In recent reports, the Fed had been describing an economic recovery that was hanging tough, despite a long slide in stock markets that began with a set of dour manufacturing reports in...
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November 30th, 2011 by InvestorPoint
NEW YORK, Nov. 30 (UPI) -- Gold prices rose Wednesday as equities rallied in Europe and on Wall Street and the dollar index fell 0.9 percent. On the Comex division of the New York Mercantile Exchange, gold added $29.20 to reach $1,750. Silver added 85 cents to $32.80 per ounce. West Texas Intermediate crude oil added 15 cents to reach $100.51 per barrel. The euro rose to $1.3448 from Tuesday's $1.3315. Against the yen, the dollar fell to 77.61 yen from Tuesday's 77.92 yen. The dollar was mixed in ...
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November 30th, 2011 by InvestorPoint
WASHINGTON, Nov. 30 (UPI) -- A pending U.S. home sales index jumped in October after three months of declines, the National Association of Realtors said Wednesday. The Pending Home Sales Index, measuring contracts that likely will close in December or January, rose 10.4 percent in the month, pushing the index to 93.3, the trade group said. Region by region, the index surged 17.7 percent in the Northeast and 24.1 percent in the Midwest. In the South, the index rose 8.6 percent. In the West, the index f...
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November 30th, 2011 by InvestorPoint
ORLANDO, Fla., Nov. 30 (UPI) -- U.S. electronics systems company API Technologies Corp. has completed its acquisition of substantially all of the assets of Commercial Microwave Technology Inc. The acquisition, for $8.2 million in cash, adds complementary products to API's product line for aerospace, defense and commercial industries. CMT, which has headquarters in California, manufactures RF and microwave filters. Products include off-the-shelf and custom-designed lumped element filters, cavity filter...
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November 30th, 2011 by InvestorPoint
NEW YORK, Nov. 30 (UPI) -- U.S. markets soared Wednesday after six central banks coordinated efforts to add liquidity to financial markets in light of ongoing debt issues in Europe. The joint announcement by the U.S. Federal Reserve, the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank and the Swiss National Bank sent stocks higher in Europe, as well, although markets were already closed in Asia as the news was released. The central banks said they would lower the cost...
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November 30th, 2011 by InvestorPoint
RALEIGH, N.C., Nov. 30 (UPI) -- North Carolina lawmakers are moving to require the Democrats to consider non-union, in-state companies for contracts for its national convention in Charlotte. The North Carolina House Tuesday night passed a non-binding resolution asking the Democratic National Committee to give its business to North Carolina companies whether they are union shops or not. "I think it's only fitting that Tar Heel workers at least have the opportunity to benefit," said sate Rep. David Lewi...
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November 30th, 2011 by InvestorPoint
NEW YORK, Nov. 30 (UPI) -- January delivery, light sweet crude oil prices topped $101 per barrel Wednesday with traders concerned about tensions between Europe and Iran. On the New York Mercantile Exchange, crude oil added $1.32 in overnight trading to $101.11 per barrel. Home heating oil gained 2.2 cents to $3.0556 per gallon. Reformulated blendstock gasoline added 2.98 cents to $5696 per gallon. Henry Hub natural gas prices lost 7.6 cents to $3.567 per million British thermal units. At the pump, t...
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November 30th, 2011 by InvestorPoint
Six central banks said they would coordinate action to add liquidity to financial markets, giving U.S. futures a boost and pushing stocks in Europe higher. The FTSE 100 index in Britain added 2.94 percent to 5,493.88, while the OMX index in Sweden jumped 3.42 percent. The DAX 30 index in Germany rose 5.04 percent to 6,092.22. The CAC 40 in France caught the wave, rising 4.07 percent. Markets in Asia were closed before the U.S. Federal Reserves early morning announcement and could not gain on the news....
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