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German insurer Allianz 1Q net profit falls 65 percent
(AP) German insurer Allianz 1Q net profit falls 65 percent
By GEORGE FREY
AP Business Writer
FRANKFURT, Germany
German insurer Allianz SE said Friday first-quarter net profit fell 65 percent due to difficult market conditions as it wrote down $1.3 billion tied to the U.S. subprime crisis.
Allianz, which also owns Dresdner Bank, said net profit for the January through March period came in at 1.1 billion euros ($1.69 billion) compare...Full Story
Clear Channel Communications reports profit, revenue jump
(AP) Clear Channel Communications reports profit, revenue jump
NEW YORK
Radio broadcaster Clear Channel Communications Inc. says its profit soared in the first quarter while revenues rose 4 percent.
The San Antonio-based company said Friday it earned $799.7 million or $1.61 per share in the first th...Full Story Stock head for lower open after AIG reveals need for cash
(AP) Stock head for lower open after AIG reveals need for cash
By MADLEN READ
AP Business Writer
NEW YORK
Wall Street headed for a lower open Friday after the world's largest insurer reported a wider-than-expected loss for the first quarter, rekindling investors' anxiety about the strained state of ...Full Story China producer price index up 8.1 percent in April
China's producer price index, a key inflation indicator, rose 8.1 percent in April over the same month a year earlier, the government reported, as a top economic official urged Friday for controls to cool further price increases.
China is struggling to rein in inflation, and the greater-than-expect...Full Story Oil surpasses $125 per barrel ahead of US driving season
(AP) Oil surpasses $125 per barrel ahead of US driving season
By PABLO GORONDI
Associated Press Writer
Oil prices surged past $125 per barrel Friday on the eve of the U.S. driving season as a weakening U.S. dollar drove investors to snap up commodities.
Light, sweet crude for June delivery rose as h...Full Story Dollar falls against euro on ECB interest rate signals
The dollar fell against the euro Friday after the European Central Bank signaled that it was unlikely it would consider any interest rate cuts in the coming months.
In midmorning European trading, the 15-nation currency rose to $1.5470 compared with $1.5404 in late trading Thursday night in New Yor...Full Story Euro edges higher against US dollar
The euro was higher against the U.S. dollar on Friday after the European Central Bank signaled that it was unlikely it would consider any interest rate cuts in the coming months.
In midmorning European trading, the 15-nation currency rose to $1.5463, compared with $1.5404 in late trading Thursday n...Full Story US dollar lower in Europe
(AP) US dollar lower in Europe
LONDON
The U.S. dollar was mostly lower against other major currencies in European trading Friday morning. Gold rose.
The euro traded at $1.5470, up from $1.5404 late Thursday in New York.
Other dollar rates:
_102.91 Japanese yen, down from 104.17
_1.0419 Swiss francs,...Full Story |
