WASHINGTON - U.S. factory activity slipped in July and consumer spending advanced at its slowest pace in four months in June, indicating the economy lost some momentum recently.
Recent Business News
- The United States Department of Justice is investigating trades worth billions of dollars that Germany's Deutsche Bank AG made on behalf of its Russian clients, Bloomberg reported, citing people familiar with the matter.
- A challenge by U.S. airlines that accuses three Gulf carriers of distorting competition via government subsidies took another turn on Monday with the formation of a U.S. airline group that backs the Gulf-carriers' cause.
NEW YORK - Oil prices lurched 5 percent lower on Monday to their lowest since January, taking global benchmark Brent below $50 a barrel as weak factory activity in China deepened a commodity-wide rout. | Video
- American International Group Inc , the largest commercial insurer in the United States and Canada, reported a quarterly operating profit that breezed past analysts' estimates, and boosted its share buyback by up to $5 billion.
NEW YORK - DoubleLine Funds, whose co-founder Jeffrey Gundlach is widely followed for his investment calls, on Monday reported $688.7 million in net additional investments in July, the 18th consecutive month it has attracted new money.