Gold prices gained ground Wednesday, benefiting from a combination of fear and hedged bets. Equities have been hammered since the national election which kept President Barack Obama in the White House — a president seen by many as unfriendly to business. That provided the fear. But...

The United Nations said food prices around the globe dropped 1 percent from September to October. The U.N. Food and Agriculture Organization’s Food Price Index compares prices of 55 food commodities. The index fell from 215 points to 213 with the decline in overall prices pushed by lower...

Monthly sales at U.S. restaurant chain McDonald’s slipped September to October, the company said, a month-to-month decline that is a rarity for the firm. Sales fell 1.8 percent at same-store outlets, a category that includes stores that have been open at least one year. The last time...

The chairman of Chinese manufacturing giant Foxconn Electronics said the company would train U.S. engineers in either China or Taiwan. Terry Guo said the engineers would learn both design and manufacturing that they can put to use when they return to the United States. DigiTimes reported...

Stocks dropped in New York Thursday, as investors remained skittish after President Obama”s re-election victory. The Dow Jones industrial average gave up more than 300 points Wednesday to fall below 13,000 as investors were bearish on election results that left Washington split with...

A U.S. auto dealers’ trade group said Hurricane Sandy destroyed at least 250,000 used cars and used car prices will rise as a result. National Automobile Dealers Association analyst Jonathan Banks said tighter supplies will cause used car prices to rise by as much as 1.5 percent by...

Police in Rome said they have seized shipments of wine and tomato puree from China that are labeled “Made in Italy.” The fraudulently labeled goods include 3,100 metric tons of wine and 4.5 metric tons of concentrated tomato puree, ANSA reported Thursday. Police have asked...

U.S. crude oil inventories rose by 1.8 million barrels last week, the U.S. Energy Information Administration said. The agency said inventories climbed to 374.8 million barrels. Supplies of crude oil are above the upper limit of the average range for this time of year, the agency said...

Stocks were slightly lower in New York Thursday morning, but investors seemed to control their skittishness after Wednesday drop. The Dow Jones industrial average gave up more than 300 points Wednesday to fall below 13,000 as investors were bearish on election results that handed a victory to...

The U.S. Labor Department Thursday said first-time jobless benefits claims dropped by 8,000 in the week ending Saturday. Initial claims fell to 355,000, the department said. The four-week rolling average rose by 3,250 to 370,500. Since the recession ended in June 2009, there have been only two...

Crude oil prices climbed above $85 per barrel in New York Thursday, pulling out of a pricing tailspin prompted by President Obama’s election victory. West Texas Immediate crude oil for December delivery ducked down as far as $84.44 before turning higher, hitting $85.43 per barrel in...

Who won the national election? That”s right: Republicans in the House of Representatives. Nevertheless, the day after Republicans solidified their base in the House, Speaker John Boehner saw the writing on the wall. And that prophetic graffiti said lawmakers must learn to work...

Gold prices slid Wednesday, losing $1 to hit $1,714 per troy ounce in New York a day after President Barack Obama won re-election. Equities fell sharply, but gold held its own as a second term for Obama is seen as the best bet for a new round of quantitative easing, which favors traders who...

Crude oil prices shifted lower in New York Wednesday, slipping under $85 per barrel as traders reacted to President Barack Obama’s re-election victory. Giving a sense of the international community’s reaction to the national election, the dollar index rose overnight, gaining 0.21...

Grain futures closed mostly higher on the Chicago Board of Trade Wednesday as demand remained high following a drought-plagued summer. Corn was up 2 3/4 to up 3 1/4, soybeans were off 4 1/4 to off 8 1/2, wheat was up 10 1/2 to up 17 1/4 to up 1 1/2 and oats were up 3 3/4 to up 5 1/4. Corn...

Median home prices for existing single-family homes rose in a vast majority of U.S. cities in the third quarter, the National Association of Realtors said. The median price — the price midway between the highest and lowest prices — rose in 120 of 149 metropolitan areas, the NAR...

Consumer borrowing rose in the third quarter but credit card debt dropped, the U.S. Federal Reserve said Wednesday. The Fed said non-revolving credit — which includes auto loans, personal loans and student loans — rose 6.6 percent. Revolving credit, which includes lines of credit...

U.S. homeowners who refinanced in the third quarter lowered their principal balance in 29 percent of the new contracts, data show. In the quarter, 83 percent of those refinancing their first-lien mortgage either kept the loan amount the same or reduced it. Breaking that down, 54 percent...

Sony’s PlayStation 3 has received approval from Chinese regulators, a sign the country may soon lift a ban on gaming consoles, industry watchers say. Gaming consoles have been banned in China since 2000 by the Ministry of Culture, which has said they harm the well-being of young people....

The French government said it would reduce its payroll tax paid by businesses to stimulate industrial growth. The cuts would total 20 billion euros, or $25.6 billion, over three years. The socialist government led by President Francois Hollande said it would make up the difference in revenue...

The European Commission said Wednesday economic growth in Europe would be even slower than previously expected. In a release of new economic predictions, the European Union’s governing body said the gross domestic product would decline 0.3 percent in the 27-member European Union in 2012...

U.S. retail sales slipped during the week ending Saturday and came in marginally higher than the same week of 2011, a Washington retail trade group said. Sales receipts dropped 0.2 percent week-to-week, but rose 1.4 percent from the same week of 2011, the International Council of Shopping...

Chief executive officer turnover rose in October to 108, the second-highest monthly total for 2012, a Chicago outplacement firm reported Wednesday. October’s turnover rate came in behind January’s 123, Challenger, Gray & Christmas said in a release. October’s rate of...

Superstorm Sandy, which ravaged the East Coast, slowed mortgage application activity considerably last week, a banking group said Wednesday. “Last week”s storm had a significant impact on application volumes on the East Coast,” said Mike Fratantoni, vice president of...

Retail sales were rose marginally in the European Union in September compared with August, the official data office Eurostat said Wednesday. In the 27-nation EU, sales rose 0.1 percent month-to-month. For the 17-member eurozone, however, sales fell 0.2 percent in the same period. The gain in...

U.S. stock indexes dropped sharply Wednesday in a quick reaction to the national election, dipping below 13,000. Overall, economic reactions appeared mixed. The price of December delivery crude oil lost 4.8 percent to close under $85 per barrel. Gold prices were held steady, as President...

Crude oil prices shifted lower in New York Wednesday morning, slipping under $87 per barrel as traders reacted to President Barack Obama’s re-election victory. Giving a sense of international community’s reaction to the national election, the dollar index rose overnight, gaining...

Two comments resonated through all the Election Day pontificating. The first comment was that gridlock is not always such a bad thing. That better be true, because it seems unlikely that President Barack Obama was handed any new Election Day clout, which takes a strong victory to...

Gold prices were rebounded Tuesday, adding $31.80 to hit $1,715 per troy ounce in New York, a sign traders are betting on an Obama victory, one analyst said. Gold gained 1.9 percent on the Comex division of the New York Mercantile Exchange. “The market perception is that (President...

U.S. stock indexes rose Tuesday with Election Day optimism sparking an upturn. There were no major economic reports due Tuesday and the election is unlikely to be called until late in the evening. By close of trading, the Dow Jones industrial average added 133.24 points, 1.02 percent, to...