Business

G20 nations pledge "all policy tools" to strengthen global recovery

Policymakers from the Group of 20 big developed and emerging economies said they would use "all policy tools - monetary, fiscal and structural - individually and collectively" to strengthen growth and financial stability. "It is even causing new problems, raising debt, causing bubbles and excessive risk taking, zombifying the economy,"_ - German Finance Minister Wolfgang Schaeuble says the debt-financed growth model has reached its limits".

Business

Gist of communique by G-20 finance chiefs

Referring to monetary and fiscal policy and structural reforms, Lagarde said, "There has to be action on all fronts". To foster confidence, monetary policies will continue to support economic activity and ensure price stability, but monetary tools alone can not lead to balanced growth, said the communique.

Business

SpaceX resets launch for Sunday

SpaceX is considering a third attempt to launch a commercial communications satellite from Cape Canaveral Air Force Station as soon as Sunday evening. But on Thursday, the launch is suspended again, 2 minutes before firing. SpaceX is cooling the liquid oxygen propellant in the upgraded Falcon 9 to lower temperatures compared to the rockets prior version, in order to increase its density and provide more fuel aboard the rocket for the engines to burn.

Business

J.C. Penney Lives Up to Its Name with 1-Penny Sale

Upcoming Penney Days will demonstrate the purchasing power of a penny by featuring unique in-store items for one cent with no additional purchase required, while supplies last. The company reported a net loss of $131 million, or 43 cents per share, during the quarter but its adjusted figures shot past forecasts. To get there, the company expects its comparable sales to tick another 3 to 4 percent higher, after rising 4.5 percent in 2015.

Business

Germany's Schaeuble says little room left for more monetary stimulus

On the British question, United Kingdom finance minister George Osborne said that the pound's 3 percent fall in three days at the start of this week was a warning that the "Brexit" debate was "not some political parlor game". Italian central bank governor Ignazio Visco said markets should not expect concrete action from the meeting. Rather, he urged countries to deliver on reforms.

Business

Stocks open lower as weak oil prices push energy sector down

The Dow Jones Industrial Average lost 95 points, or 0.6%, to 16,337 shortly after the open. In other energy trading, heating oil rose 3.7 cents, or 3.6 percent, to $1.059 a gallon, wholesale gasoline futures rose 4.4 cents, or 4.6 percent, to $1.01 a gallon and natural gas fell 0.4 cents, or 0.2 percent, to $1.778 per thousand cubic feet.