Warren Buffett: The financial panic is over
Warren Buffett, perhaps the world's most admired investor, said on Thursday the financial panic that gripped the globe last year is a thing of the past, even as the U.S. economy's struggles persist. Read Full Article here.
Disney profit and revenue beat Street, shares rise
Walt Disney Co posted a larger-than-expected rise in both quarterly profit and revenue, as strong results from its cable business helped it overcome a disappointing stretch for its film studio. Read Full Article here.
Starbucks CEO: McDonald's made Starbucks better
Starbucks Corp Chief Executive Howard Schultz said McDonald's Corp's McCafe launch earlier this year made the cafe chain better. Read Full Article here.
Fed did not intervene in FX market in Q3: NY Fed
U.S. monetary authorities did not intervene in the foreign exchange markets in the third quarter as the dollar fell broadly against major and emerging market currencies, the Federal Reserve Bank of New York said. Read Full Article here.
British Airways, Iberia agree to $7 billion merger
British Airways and Spain's Iberia announced on Thursday a preliminary agreement for a $7 billion merger to create the world's third-largest airline by revenue. Read Full Article here.
Walmart set for extremely competitive holiday
Wal-Mart Stores Inc expects an extremely competitive holiday shopping season, but its treasurer said on Thursday that weekly price cuts are driving consumers to its U.S. stores and Walmart.com is seeing record hits after it slashed book prices. Read Full Article here.
White House says open to using TARP to ease debt
The Obama administration is weighing how a $700 billion financial rescue fund could be used to ease the U.S. debt burden, the White House budget director said on Thursday, as data showed the deficit had deepened. Read Full Article here.
U.S. FDA tackles gray area of social media
Drug makers, Internet companies and nonprofits packed a hearing into what is a gray area for U.S. health regulators: how far Twitter, Wikipedia, blogs and other social media can go in promoting drugs. Read Full Article here.
Fed's Plosser-no inflation threat for now: report
The U.S. economy has improved, but a number of risks to growth remain and there is no near-term inflation threat, a top Fed official said on Thursday. Read Full Article here.
Obama pay czar says open to competitive pay offers
The Obama administration's pay czar said on Thursday he is concerned that pay cuts he ordered at bailed out companies could hamper their ability to retain talent and would consider offers to hire new executives at competitive industry rates. Read Full Article here.