U.S. non-farm productivity in the second quarter rose at its fastest pace in six years as companies slashed costs to protect profits, government data showed on Tuesday.
Britain's Resolution , an acquisitions vehicle founded by tycoon Clive Cowdery, clinched the first of a hoped-for trio of deals with the 1.86 billion pound ($3.1 billion) takeover of insurer Friends Provident .
The Chevrolet Volt -- the electric vehicle General Motors Co is counting on to recharge its image with consumers -- is on track to hit an unprecedented fuel economy rating of 230 miles per gallon in city driving, the automaker said on Tuesday.
Renewable energy leaders on Monday said the United States is http://www.ibtimes.com/biz_manage/articles/news/write.php?edit_status=newmoving too slowly to turn the economy green, despite support of the administration of President Barack Obama.
The total value of distressed-debt deals, where creditors use their debt positions to take ownership of troubled companies, has touched $84.4 billion this year, the Wall Street Journal said, at a pace close to double that of 2008.
InterContinental Hotels, the world's biggest hotelier, said a recovery for the industry might be two years away after reporting first-half profit that fell but beat forecasts.
The U.S. Treasury Department should consider expanding programs to cleanse troubled assets from bank balance sheets if current efforts fail to restart markets or if economic conditions worsen, a U.S. bailout watchdog panel said on Tuesday.
Troubled lender CIT Group Inc said on Tuesday it has delayed filing its second-quarter report with regulators and said if it could not complete its debt tender or arrange other financing, it would file for bankruptcy.
Anglo-Australian miner Rio Tinto said on Tuesday it had yet to be presented with any evidence to support the detention of four of its China-based staff on suspicions of stealing state secrets.
The value of U.S. homes fell by 12.1 percent in the second quarter from a year earlier, but the rate of decline shrank for the first time since prices began to fall in 2007, real estate website Zillow.com said on Tuesday.