Inventories buoy growth, but home sales slump
February 26, 2010
WASHINGTON (Reuters) - The economy grew a touch more than initially thought in the fourth quarter, but a surprise drop in January home sales to a seven-month low and weaker consumer confidence underscored headwinds facing the recovery.
February 26, 2010
WASHINGTON (Reuters) - The economy grew a touch more than initially thought in the fourth quarter, but a surprise drop in January home sales to a seven-month low and weaker consumer confidence underscored headwinds facing the recovery.
Wall Street edges up in low volume on mixed economic data
February 26, 2010
NEW YORK (Reuters) - Stocks looked set to make their best monthly advance since November on Friday in a seesaw session as a drop in the U.S. dollar offset economic reports that came in mostly weaker than expected.
February 26, 2010
NEW YORK (Reuters) - Stocks looked set to make their best monthly advance since November on Friday in a seesaw session as a drop in the U.S. dollar offset economic reports that came in mostly weaker than expected.
Fed’s Evans: rates low for extended period
February 26, 2010
NEW YORK (Reuters) - A top Federal Reserve official said on Friday an erratic recovery dictates low rates for at least six months, while prominent economists said unsettled U.S. financial conditions are more of a drag on the economy than generally believed.
February 26, 2010
NEW YORK (Reuters) - A top Federal Reserve official said on Friday an erratic recovery dictates low rates for at least six months, while prominent economists said unsettled U.S. financial conditions are more of a drag on the economy than generally believed.
AIG posts $8.9B loss
February 26, 2010
NEW YORK (Reuters) - American International Group Inc reported a quarterly loss of $8.9 billion on Friday, hurt by charges related to U.S. loan payback and loss reserves, but in a glimmer of hope its general insurance operations improved.
February 26, 2010
NEW YORK (Reuters) - American International Group Inc reported a quarterly loss of $8.9 billion on Friday, hurt by charges related to U.S. loan payback and loss reserves, but in a glimmer of hope its general insurance operations improved.
Consumer sentiment weakens in February
February 26, 2010
NEW YORK (Reuters) - Consumer sentiment was weaker in February, as Americans grew more impatient with the government's gridlock over efforts to stimulate jobs, a survey released on Friday showed.
February 26, 2010
NEW YORK (Reuters) - Consumer sentiment was weaker in February, as Americans grew more impatient with the government's gridlock over efforts to stimulate jobs, a survey released on Friday showed.
GM contacts previous bidders for Tengzhong
February 26, 2010
DETROIT/HONG KONG (Reuters) - General Motors has approached previous bidders for its Hummer unit after a deal to sell the brand to an obscure Chinese firm collapsed, a source with knowledge of the matter said on Friday.
February 26, 2010
DETROIT/HONG KONG (Reuters) - General Motors has approached previous bidders for its Hummer unit after a deal to sell the brand to an obscure Chinese firm collapsed, a source with knowledge of the matter said on Friday.
U.S. approves PepsiCo bottler buy, with conditions
February 26, 2010
WASHINGTON (Reuters) - PepsiCo Inc has won U.S. antitrust approval to buy two of its largest bottlers on condition that it take steps to safeguard a rival's business information, the Federal Trade Commission said on Friday.
February 26, 2010
WASHINGTON (Reuters) - PepsiCo Inc has won U.S. antitrust approval to buy two of its largest bottlers on condition that it take steps to safeguard a rival's business information, the Federal Trade Commission said on Friday.
Inventories buoy growth, home sales tumble
February 26, 2010
WASHINGTON (Reuters) - The economy grew a touch more than initially thought in the fourth quarter, but a surprise big drop in sales of previously owned homes last month showed trouble spots still remain.
February 26, 2010
WASHINGTON (Reuters) - The economy grew a touch more than initially thought in the fourth quarter, but a surprise big drop in sales of previously owned homes last month showed trouble spots still remain.
Wall Street edges up as economy sends mixed signals
February 26, 2010
NEW YORK (Reuters) - Stocks edged higher in choppy trade on Friday as investors got mixed signals from the economy.
February 26, 2010
NEW YORK (Reuters) - Stocks edged higher in choppy trade on Friday as investors got mixed signals from the economy.
AIG alters payback plan to Fed
February 26, 2010
NEW YORK (Reuters) - American International Group Inc has decided not to use securitized U.S. life insurance policies to repay the U.S. government after a $182.3 billion rescue, a source familiar with the matter said on Friday.
February 26, 2010
NEW YORK (Reuters) - American International Group Inc has decided not to use securitized U.S. life insurance policies to repay the U.S. government after a $182.3 billion rescue, a source familiar with the matter said on Friday.
Toyoda meets with LaHood, thanks workers at plant
February 26, 2010
WASHINGTON (Reuters) - Toyota Motor Corp President Akio Toyoda had a "cordial and open" meeting on Thursday with Transportation Secretary Ray LaHood before thanking workers in Kentucky for supporting him during his appearance before Congress.
February 26, 2010
WASHINGTON (Reuters) - Toyota Motor Corp President Akio Toyoda had a "cordial and open" meeting on Thursday with Transportation Secretary Ray LaHood before thanking workers in Kentucky for supporting him during his appearance before Congress.
GM revisiting previous bidders for Hummer
February 26, 2010
DETROIT/HONG KONG (Reuters) - General Motors has approached previous potential bidders for its Hummer unit after a deal to sell the brand to an obscure Chinese firm collapsed, a source with knowledge of the matter said on Friday.
February 26, 2010
DETROIT/HONG KONG (Reuters) - General Motors has approached previous potential bidders for its Hummer unit after a deal to sell the brand to an obscure Chinese firm collapsed, a source with knowledge of the matter said on Friday.
U.S. hedge fund firm being probed on kickbacks
February 26, 2010
(Reuters) - U.S. authorities are probing individuals close to NIR Group on whether the U.S. hedge fund firm paid kickbacks to outsiders to inflate the value of its holdings, the Wall Street Journal said, citing people familiar with the matter.
February 26, 2010
(Reuters) - U.S. authorities are probing individuals close to NIR Group on whether the U.S. hedge fund firm paid kickbacks to outsiders to inflate the value of its holdings, the Wall Street Journal said, citing people familiar with the matter.
Lloyds loses on hefty bad debts, Irish woes
February 26, 2010
LONDON (Reuters) - Lloyds, Britain's largest retail bank, suffered another big loss last year as it took a 24 billion pounds ($37 billion) hit from loans that soured, mostly assets inherited from its controversial takeover of rival HBOS.
February 26, 2010
LONDON (Reuters) - Lloyds, Britain's largest retail bank, suffered another big loss last year as it took a 24 billion pounds ($37 billion) hit from loans that soured, mostly assets inherited from its controversial takeover of rival HBOS.
U.S. economic growth revised up on inventories
February 26, 2010
WASHINGTON (Reuters) - The U.S. economy grew faster than initially thought in the fourth quarter as businesses drew down inventories at a much slower pace and boosted investment, a government report showed on Friday.
February 26, 2010
WASHINGTON (Reuters) - The U.S. economy grew faster than initially thought in the fourth quarter as businesses drew down inventories at a much slower pace and boosted investment, a government report showed on Friday.
Stock futures slightly higher as economy in focus
February 26, 2010
NEW YORK (Reuters) - Stock index futures were slightly higher on Friday as investors looked ahead to a raft of data, including economic growth, home sales and manufacturing after a disappointing week so far for the economy.
February 26, 2010
NEW YORK (Reuters) - Stock index futures were slightly higher on Friday as investors looked ahead to a raft of data, including economic growth, home sales and manufacturing after a disappointing week so far for the economy.
Oil holds near $78 ahead of key U.S. data
February 26, 2010
LONDON (Reuters) - Oil held around $78 a barrel on Friday after sliding more than 2 percent the day before as traders mulled recovery prospects for the United States, the world's top energy consumer, ahead of economic data.
February 26, 2010
LONDON (Reuters) - Oil held around $78 a barrel on Friday after sliding more than 2 percent the day before as traders mulled recovery prospects for the United States, the world's top energy consumer, ahead of economic data.
AIG posts $8.9 billion loss, warns of more aid
February 26, 2010
NEW YORK (Reuters) - American International Group Inc reported a quarterly loss of $8.9 billion on Friday and warned that it may need additional U.S. government support, even as it tries to pay back taxpayers after a $182.3 billion bailout.
February 26, 2010
NEW YORK (Reuters) - American International Group Inc reported a quarterly loss of $8.9 billion on Friday and warned that it may need additional U.S. government support, even as it tries to pay back taxpayers after a $182.3 billion bailout.
Greek PM says economic crisis confirmed worst fears
February 26, 2010
ATHENS (Reuters) - Prime Minister George Papandreou on Friday vowed to ignore the political costs and take drastic measures to pull Greece out of a debt crisis threatening the stability of the euro zone.
February 26, 2010
ATHENS (Reuters) - Prime Minister George Papandreou on Friday vowed to ignore the political costs and take drastic measures to pull Greece out of a debt crisis threatening the stability of the euro zone.
Obama, Republicans clash at health summit
February 25, 2010
WASHINGTON (Reuters) - President Barack Obama and Republicans clashed frequently on Thursday at a summit on his stalled healthcare overhaul, battling over the size and cost of the proposal and moving no closer to a compromise agreement.
February 25, 2010
WASHINGTON (Reuters) - President Barack Obama and Republicans clashed frequently on Thursday at a summit on his stalled healthcare overhaul, battling over the size and cost of the proposal and moving no closer to a compromise agreement.