Fed officials differ on recovery’s pace
November 17, 2009
RICHMOND, Virginia (Reuters) - Top Federal Reserve officials on Tuesday struck differing notes on the likely pace of the U.S. economic recovery and one warned that pockets of weakness must not deter the central bank from withdrawing its extraordinary economic support.
November 17, 2009
RICHMOND, Virginia (Reuters) - Top Federal Reserve officials on Tuesday struck differing notes on the likely pace of the U.S. economic recovery and one warned that pockets of weakness must not deter the central bank from withdrawing its extraordinary economic support.
Stock futures off as retailer earnings
November 17, 2009
NEW YORK (Reuters) - U.S. stock index futures were slightly lower on Tuesday as investors digested earnings from retailers and awaited a report expected to show U.S. industrial production rose for a fourth straight month.
November 17, 2009
NEW YORK (Reuters) - U.S. stock index futures were slightly lower on Tuesday as investors digested earnings from retailers and awaited a report expected to show U.S. industrial production rose for a fourth straight month.
Microsoft co-founder diagnosed with cancer
November 17, 2009
SAN FRANCISCO (Reuters) - Microsoft Corp co-founder Paul Allen has been diagnosed with non-Hodgkin's lymphoma and has begun treatment, a spokesman for his investment company said on Monday.
November 17, 2009
SAN FRANCISCO (Reuters) - Microsoft Corp co-founder Paul Allen has been diagnosed with non-Hodgkin's lymphoma and has begun treatment, a spokesman for his investment company said on Monday.
Home Depot profit beats Street
November 17, 2009
NEW YORK (Reuters) - Home Depot Inc posted a higher-than-expected quarterly profit and raised its full-year outlook as the top home improvement chain cut costs to offset weak demand for big-ticket remodeling projects.
November 17, 2009
NEW YORK (Reuters) - Home Depot Inc posted a higher-than-expected quarterly profit and raised its full-year outlook as the top home improvement chain cut costs to offset weak demand for big-ticket remodeling projects.
IMF head eyes global currency change
November 17, 2009
BEIJING (Reuters) - The imperative of greater global currency stability means the world can no longer rely, as it has done since the end of the gold standard, on a currency issued by a single country, the head of the IMF said on Tuesday.
November 17, 2009
BEIJING (Reuters) - The imperative of greater global currency stability means the world can no longer rely, as it has done since the end of the gold standard, on a currency issued by a single country, the head of the IMF said on Tuesday.
UBS targets return to profit
November 17, 2009
ZURICH (Reuters) - UBS boss Oswald Gruebel is targeting an annual pretax profit of 15 billion Swiss francs ($14.9 billion) as he aims to put the subprime crisis and a U.S. tax row behind the loss-making bank and win back clients.
November 17, 2009
ZURICH (Reuters) - UBS boss Oswald Gruebel is targeting an annual pretax profit of 15 billion Swiss francs ($14.9 billion) as he aims to put the subprime crisis and a U.S. tax row behind the loss-making bank and win back clients.
GMAC CEO resigns, Carpenter steps in
November 17, 2009
NEW YORK (Reuters) - GMAC Chief Executive Al de Molina has resigned, and will be replaced by Michael Carpenter, the troubled lender said on Monday.
November 17, 2009
NEW YORK (Reuters) - GMAC Chief Executive Al de Molina has resigned, and will be replaced by Michael Carpenter, the troubled lender said on Monday.
China, U.S. eye pact to help troubled banks
November 17, 2009
HONG KONG (Reuters) - Chinese and U.S. regulators are negotiating a pact aimed at encouraging Chinese financial institutions to buy into small and medium-sized banks in the United States, bankers briefed on the plan said on Tuesday.
November 17, 2009
HONG KONG (Reuters) - Chinese and U.S. regulators are negotiating a pact aimed at encouraging Chinese financial institutions to buy into small and medium-sized banks in the United States, bankers briefed on the plan said on Tuesday.
Lehman sues Barclays over windfall profits
November 17, 2009
(Reuters) - Lehman Brothers Holdings Inc has filed a lawsuit against Barclays Capital Inc alleging the British bank took control of excess assets in collusion with Lehman executives when it bought its U.S. brokerage business a year ago, court documents show.
November 17, 2009
(Reuters) - Lehman Brothers Holdings Inc has filed a lawsuit against Barclays Capital Inc alleging the British bank took control of excess assets in collusion with Lehman executives when it bought its U.S. brokerage business a year ago, court documents show.
Banks warn Congress on breakup power
November 16, 2009
WASHINGTON (Reuters) - Some of the world's largest financial firms on Monday urged a top U.S. lawmaker not to pursue big bank break-up legislation, an idea attracting interest in Congress and causing alarm on Wall Street.
November 16, 2009
WASHINGTON (Reuters) - Some of the world's largest financial firms on Monday urged a top U.S. lawmaker not to pursue big bank break-up legislation, an idea attracting interest in Congress and causing alarm on Wall Street.
Soros’ holdings increase
November 16, 2009
BOSTON (Reuters) - Billionaire investor George Soros' hedge fund reported holdings of $6.2 billion during the third quarter, an increase of $2 billion, after taking a stake in automaker Ford and boosting his holdings in communications services stocks.
November 16, 2009
BOSTON (Reuters) - Billionaire investor George Soros' hedge fund reported holdings of $6.2 billion during the third quarter, an increase of $2 billion, after taking a stake in automaker Ford and boosting his holdings in communications services stocks.
Stocks open up after retail sales data
November 16, 2009
NEW YORK (Reuters) - U.S. stocks opened higher on Monday, adding to two weeks of gains, as a decline in the U.S. dollar helped lift commodity prices and boost natural resource stocks, while data showed consumers spent more than expected in October.
November 16, 2009
NEW YORK (Reuters) - U.S. stocks opened higher on Monday, adding to two weeks of gains, as a decline in the U.S. dollar helped lift commodity prices and boost natural resource stocks, while data showed consumers spent more than expected in October.
GM posts loss, vows to repay U.S. debt early
November 16, 2009
DETROIT (Reuters) - General Motors Co posted a third-quarter operating loss on Monday but said stabilizing sales and lower costs since its July bankruptcy would allow it to begin paying down $6.7 billion in U.S. government debt ahead of schedule.
November 16, 2009
DETROIT (Reuters) - General Motors Co posted a third-quarter operating loss on Monday but said stabilizing sales and lower costs since its July bankruptcy would allow it to begin paying down $6.7 billion in U.S. government debt ahead of schedule.
Retail sales surge on autos
November 16, 2009
WASHINGTON (Reuters) - U.S. retail sales grew more than expected last month as vehicle sales bounced back from a deep slump, but non-auto sales edged up just slightly, suggesting consumers remain cautious.
November 16, 2009
WASHINGTON (Reuters) - U.S. retail sales grew more than expected last month as vehicle sales bounced back from a deep slump, but non-auto sales edged up just slightly, suggesting consumers remain cautious.
Capital One, Discover credit card defaults lower
November 16, 2009
NEW YORK (Reuters) - Capital One Financial Corp and Discover Financial Services reported credit card defaults fell in October, but delinquencies rose in a sign that consumers remain under stress and the sector can expect more pain ahead.
November 16, 2009
NEW YORK (Reuters) - Capital One Financial Corp and Discover Financial Services reported credit card defaults fell in October, but delinquencies rose in a sign that consumers remain under stress and the sector can expect more pain ahead.
Lowe’s profit falls 30 percent
November 16, 2009
NEW YORK (Reuters) - Lowe's Cos Inc, the second-largest U.S. home improvement chain, posted a 30 percent drop in quarterly profit as consumers put off big renovations as the U.S. housing market remains sluggish, sending shares down 2.1 percent in premarket trading.
November 16, 2009
NEW YORK (Reuters) - Lowe's Cos Inc, the second-largest U.S. home improvement chain, posted a 30 percent drop in quarterly profit as consumers put off big renovations as the U.S. housing market remains sluggish, sending shares down 2.1 percent in premarket trading.
Cisco ups Tandberg bid
November 16, 2009
OSLO (Reuters) - U.S. network equipment maker Cisco raised its bid for Norwegian video conferencing equipment maker Tandberg and said it was backed by holders of more than 40 percent of its shares after few warmed to its previous offer.
November 16, 2009
OSLO (Reuters) - U.S. network equipment maker Cisco raised its bid for Norwegian video conferencing equipment maker Tandberg and said it was backed by holders of more than 40 percent of its shares after few warmed to its previous offer.
Canon buys Dutch Oce for $1.1B
November 16, 2009
TOKYO/AMSTERDAM (Reuters) - Japan's Canon plans to buy Dutch copier and printer maker Oce for 730 million euros ($1.09 billion) as it tries to return to growth after the global downturn and fight rival Ricoh.
November 16, 2009
TOKYO/AMSTERDAM (Reuters) - Japan's Canon plans to buy Dutch copier and printer maker Oce for 730 million euros ($1.09 billion) as it tries to return to growth after the global downturn and fight rival Ricoh.
Japan extra stimulus likely
November 16, 2009
TOKYO (Reuters) - Japan's government inched toward agreeing new stimulus measures that could be worth $30 billion on Monday as economic growth is likely to slow next year due to sluggish personal spending and rising inventories.
November 16, 2009
TOKYO (Reuters) - Japan's government inched toward agreeing new stimulus measures that could be worth $30 billion on Monday as economic growth is likely to slow next year due to sluggish personal spending and rising inventories.
Hitachi to raise $4.6B to boost capital
November 16, 2009
TOKYO (Reuters) - Mired with losses, Japan's biggest electronics group by sales, Hitachi Ltd, is raising up to $4.6 billion to cut debt as it seeks to turnaround its sprawling businesses and also invest in new growth drivers.
November 16, 2009
TOKYO (Reuters) - Mired with losses, Japan's biggest electronics group by sales, Hitachi Ltd, is raising up to $4.6 billion to cut debt as it seeks to turnaround its sprawling businesses and also invest in new growth drivers.