Moody's rating agency's double notch downgrade of Slovenia to junk status puts the country, already in a precarious condition, firmly in the spotlight again. Concerns are rising that the heavily-indebted country may be next inline for a bailout from international creditors, but some analysts believe Moody's bleak prognosis is not

Car Bomb Explosion in Damascus Kills 13 people

A car bomb in central Damascus killed at least 13 people, Syria’s state television reported, a day after Prime Minister Wael al-Halaqi survived a bomb attack in the capital. More than 70 people were wounded in the explosion in the Marjeh district, according to the report. The device detonated at the gate of the country’s old Interior Ministry building,

US Home Prices Rise Most Since May 2006

U.S. single-family home prices rose more than expected in February, posting their best annual increase since May 2006 in a fresh sign the housing recovery remains on track, a closely watched survey showed on Tuesday. The S&P/Case-Shiller composite index of 20 metropolitan areas gained

Stocks Mixed After Euro Zone Data

European shares were mixed in morning trade on Tuesday as a raft of economic data was released for the euro zone. The FTSEurofirst 300 Index was slightly higher as inflation and unemployment data, as well as a series of earnings releases, sent stock markets in different directions. Inflation data for the euro zone showed a fall to 1.2 percent, a three year-low. The bloc's unemployment data reached a record high of

ECB Rate Cut Just Became Even More Likely

The odds of a rate cut by the European Central Bank (ECB) increased significantly on Tuesday after euro zone inflation eased to 1.2 percent in April, the lowest level since February 2010. To give you an idea of just how important that number is,economists were expecting inflation of 1.6 percent and the reading for March was 1.7 percent.

Former fashion jewelry saleswoman Rebecca Gonzales and former Chief Executive Officer Ron Johnson have one thing in common: J.C. Penney Co. (JCP) no longer employs either. The similarity ends there. Johnson, 54, got a compensation package worth 1,795 times the average wage and benefits of a U.S. department store worker when he was hired in

Pfizer Earnings Miss, Pressured by Stronger Dollar

Pfizer reported quarterly earnings and revenue that missed analysts' expectations on Tuesday, citing the stronger dollar and the spin-off of its animal health unit Zoetis. The largest U.S. drugmaker also trimmed its full-year guidance. The company said it now expects full-year earnings, excluding items, of $2.14