ECB Cuts Rates to Record Low as Growth Push
The European Central Bank trimmed its key refinancing rate to 0.75 percent and cut the rate paid on overnight deposits to zero to spur lending amid weak demand. ECB President Mario Draghi said more tools remain but stressed inflation should stay low. Analysts cautioned the move may have limited impact without broader political action.
MENTIONED IN THIS ARTICLE
Frankfurt
Germany
European Central Bank
Europe
ECB
Mario Draghi
Draghi
Retailers sweat out summer after weak June sales
After a tepid June shoppers cut back on spending, pressuring retailers as back to school approaches. Weak consumer confidence and slower hiring curb activity while discounters and some high end stores show uneven results. The ICSC index rose 0.2 percent across 23 chains, below May gains.
MENTIONED IN THIS ARTICLE
Europe
China
Tracy Garza
San Francisco
Ross
Garza
ICSC
Oil prices slip on weak economy and high supplies
Oil prices fell as disappointing economic data spooked investors in New York. Major retailers posted weak June sales and service sector growth slowed, signaling softer demand for petroleum. Benchmark crude closed at 87.22 a barrel amid ample U.S. stocks and flat national gasoline average about 3.338 a gallon.
MENTIONED IN THIS ARTICLE
New York
U.S
Gene McGillian
Tradition Energy
U.S. Energy Information Administration
Platts
Energy Information Arm
McGraw-Hill Cos
AAA
Wright Express
Oil Price Information Service
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Jennifer McKeown
Capital Economics
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Costco
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Chicago
UNO Sa
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TueHas Saler
NEW York(ap
York Mercantile Exchange
CheniereEn
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Ymbiog
PwShs
SprintNex
Microsoft
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Microis Rs
Medgeant
Medgenics
Syngyp UN
SoftStone
Ndynmng
BostPront
Alxb Inc
GencoShip
NovaCpp
Orchidsh
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Vringo
Meadevist
London
N.Y
N/A
Tuel Sss
Seoarey
Chicago Board of Trade
SWS
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Brett Leach
Wilshire Blvd
Roswell
Swst
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Dallas TX
FINRA
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At&t Inc
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VerizonCm
WalMart
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