A growing number of economists surveyed by Bloomberg say the Federal Reserve will begin trimming its $85 billion in monthly bond purchases in September. That was the view of half of those who participated in the July 18-22 survey, up from 44 percent in last month’s poll. Even as expectations of a September taper rose, 10-year Treasury yields continued to fall last week from an almost two-year high after Fed chairman Ben S. Bernanke said reducing bond-buying wouldn’t constitute policy-tightening.

July 23, 2013

Computer and software giant Apple said Sunday that it took its software developers website offline after it was hacked, warning that personal information about its users may have been stolen."Last Thursday, an intruder attempted to secure personal information of our registered developers from our developer website," Apple said in a statement. Although sensitive information was encrypted, "we have not been able to rule out the possibility that some developers' names, mailing addresses, and/or ema

July 22, 2013

MOSCOW (AFP) ― Facing a fragile recovery and the threat of a new economic slowdown, the G20 this weekend agreed to prioritize boosting growth and jobs and for now to pay less attention to reducing swollen budget deficits.At a meeting in Moscow in an exhibition hall just outside the Kremlin walls, the finance chiefs from the top 20 advanced and emerging economies in the world showed an unusual unanimity over the risks and priorities for the economy.Spooked by the depth of slowdowns over the last

July 21, 2013

WASHINGTON (AP) ― A secret U.S. intelligence court renewed an order Friday to continue forcing Verizon Communications to turn over hundreds of millions of telephone records to the government each day in its search for foreign terror or espionage suspects.The order by the Foreign Intelligence Surveillance Court has been in place for years but must be renewed every three months. It was exposed in June after former National Security Agency systems analyst Edward Snowden leaked details of two top se

July 21, 2013

MILAN, Italy (AFP) ― Designers Dolce & Gabbana have closed their nine Milan boutiques for three days from Friday out of “indignation” in a row over their convictions for tax evasion.The stores are scheduled to remain closed until Monday in protest by the world-famous designers at their perceived bad treatment from the city following their convictions last month.The Italian pair were sentenced on June 19 to one year and eight months in prison each and ordered to pay 500,000 euros ($657,000) compe

July 21, 2013

LONDON (AFP) ― Japan has warned that tens of thousands of British jobs with Japanese firms could be at risk if London pulls out of the European Union, a newspaper reported on Sunday.Tokyo’s submission to a British government consultation said Japanese companies liked Britain because it offered a gateway to the European market, the Sunday Times said.Prime Minister David Cameron has vowed to renegotiate Britain’s relationship with the EU and then hold a referendum on membership before the end of 2

July 21, 2013

BERLIN (AFP) ― German Chancellor Angela Merkel has come out strongly in favour of an international agreement to protect electronic data, following revelations by fugitive former intelligence analyst Edward Snowden about U.S. surveillance program PRISM.“We should be able, in the 21st century, to sign global agreements,” Merkel told the weekly Welt am Sonntag, in an interview to be published Sunday. “If digital communication raises new questions worldwide, then we should take up the challenge. Ger

July 21, 2013

Finance chiefs of G20 states on Saturday sought to narrow differences on how to keep budget deficits in check without harming fragile growth as the world economy emerges from slowdown.The finance ministers and central bank chiefs of the top 20 advanced and emerging economies will seek in their final communique to show unity on the often divisive issue of how to promote growth without harming fiscal situations.The meeting in Moscow in an exhibition centre outside the Kremlin walls aims to set up

July 20, 2013

Moody's Investors Service upgraded the outlook for U.S. government debt to ``stable'' from ``negative'' and affirmed the United States' blue chip Aaa rating.The rating agency cited a surprising drop in the federal deficit _ the difference between what the government collects in taxes and what it spends. The U.S. government is on track to report its lowest annual deficit in five years.Through the first eight months of the budget year, the deficit has totaled $509.8 billion, according to the Treas

July 19, 2013

The Dow and the S&P 500 closed at new record highs Thursday on robust corporate earnings reports and the latest reaffirmation of the Federal Reserve's easy-money policy.The Dow Jones Industrial Average rose 78.02 (0.50 percent) to 15,548.54.The broad-market S&P 500 ended 8.46 (0.50 percent) higher at 1,689.37.The rally solidly topped both indices' prior closing records set Monday of15,484.26 on the blue-chip Dow and 1,682.50 on the S&P 500.The tech-rich Nasdaq Composite Index, meanwhile, eked ou

July 19, 2013

Detroit became the biggest U.S. city to file for bankruptcy Thursday, its finances ravaged and its neighborhoods hollowed out by a long, slow decline in population and auto manufacturing that once made it the very symbol of American industrial might. The federal bankruptcy court filing, which had been feared for months, conserves cash so the city can operate but it will hurt Detroit's image for years. It could mean laying off municipal employees, selling off assets, raising fees and scaling back

July 19, 2013