Economic News

NEW YORK (Reuters) - U.S. stocks rose on Monday after a government report on personal spending showed robust consumer activity bolstering the economy, but the stronger-than-expected data also suggested higher inflation. The Dow Jones industrial average was up 39.94 points, or 0.35 percent, at 11,407.08. The Standard & Poor's 500 Index was up 3.93 points, or 0.30 percent, at 1,314.54. The Nasdaq ...

HONG KONG (Dow Jones) -- Gold futures pushed to their highest levels since 1980 on Monday, with capital flowing to the precious metal as a weak U.S. dollar sent investors in search of a safe haven. The June contract climbed to $660.90 an ounce during Asian trading, up $6.40 from its Friday finish in New York. In April, gold prices swelled by almost 12%. The dollar Monday fell to a seven-mont ...

Greg WrightDeputy Business EditorHIGHER costs and a tougher market have led to a dip in full-year profits at privately owned housebuilder and construction company Strata.The Doncaster-based company hopes to bounce back with help from a new venture that will build houses in some of Yorkshire's poorest areasStrata's pre-tax profits were £8.6m for the year ending December 2005, down from £13.1m in 20 ...

Renowned economist and liberal thinker John Kenneth Galbraith has died in the US at the age of 97. He died on Saturday of natural causes in hospital in Cambridge, Massachusetts, his son Alan said. The Canadian-born Harvard professor wrote over 30 books on socio-economic issues, the most famous of which was The Affluent Society in 1958. He moved in political circles, advising Democratic presidents and serving as John F Kennedy's envoy to India. UK Chancellor Gordon Brown paid tribute to him ...