U.S. unemployment rate hits 10.2 percent
The U.S. unemployment rate unexpectedly jumped to 10.2 percent in October, breaching the politically sensitive double-digit barrier for the first time in 26-1/2 years, even though the pace of job losses slowed. Read Full Article here.
G20 to stay the course on economic stimulus
The Group of 20 leading nations will agree this weekend it is too early to pull the plug on emergency support for the global economy and launch a new system of checks to help rebalance world growth and prevent future crises. Read Full Article here.
AIG posts second consecutive quarterly profit
American International Group Inc , the insurer bailed out by the U.S. government, posted its second straight quarterly profit on Friday, helped by recovery in the value of its investments. Read Full Article here.
GM readies Opel plan, workers strike
General Motors Co on Thursday said it was readying a plan to restructure Opel and could pay off debt due this month as German workers went on strike to protest the automakers decision to keep the European unit. Read Full Article here.
BofA: Credit card loss rate could have peaked in Q3
Bank of America Corp's credit card loss rate may have peaked in the third quarter, but it will remain elevated for a substantial number of quarters, the bank's head of consumer banking said on Thursday. Read Full Article here.
RBS's Q3 loss halves but more bad debts to come
Royal Bank of Scotland more than halved its operating losses to 1.5 billion pounds ($2.5 billion) in the third quarter as impairments fell, but less favorable trading battered investment banking profits. Read Full Article here.