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US producer prices soar on rising fuel costs
Summary from multiple countries, from articles in English
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New York stocks fell on Tuesday as Goldman Sachs both soothed and spooked markets, with second-quarter results that handily beat expectations while its analysts argued that continuing losses and writedowns may force US banks to raise $65bn of extra capital. (article 1)
Goldman said profits fell 11 per cent to $2.09bn, but that was well ahead of consensus estimates as gains in commodities and prime brokerage offset losses elsewhere. (article 1)
Fears that the American cost of living is set to march even higher were raised yesterday after wholesale prices last month surged at the fastest rate for six months. (article 3)
According to official data published in Washington by the Labour Department, the producer price index rose 7.4 per cent last month compared with the same period the year before. (article 3)
Soaring energy costs in May spurred the biggest jump in wholesale prices in six months underscoring the looming challenge of inflationary pressures, which threaten to destabilise the US economy. (article 2)
Meanwhile, new residential housing starts fell to their lowest level in more than 17 years as builders continued to shun the enfeebled US real estate market. (article 2)
However, core producer prices, which strip out the impact of food and energy costs, rose by 0.2 per cent, only half the rate recorded the previous month. (article 2)
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Other summaries about this story:
Other stories about inflation, prices and bank:
Event tracking:
Story keywords
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inflation, prices, bank, rate, food |
Source articles
- Goldman chills Wall Street with warnings (ft.com, 06/17/2008, 702 words)
- US producer prices soar on rising fuel costs (ft.com, 06/17/2008, 563 words)
- US producer prices see sharp May rise (business.timesonline.co.uk, 06/17/2008, 567 words)
- Families in a fix as the crunch gets worse (business.timesonline.co.uk, 06/17/2008, 986 words)
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blaster@cs.columbia.edu
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