The government of Newfoundland and Labrador has signed a memorandum of understanding with a consortium that includes Exxon Mobil Corp to develop the 220-million barrel Hibernia South oil field off the Canadian province's North Atlantic coast.
The head of German chemicals company Bayer said debt reduction and securing liquidity was taking precedence over acquisitions during the economic crisis, the Sueddeutsche Zeitung reported on Tuesday.
The Obama administration is pushing tough reforms for credit rating agencies and wants them to differentiate between corporate bonds and mortgage-backed securities -- a measure long opposed by Wall Street and the real estate finance industry.
Best Buy Co Inc maintained its forecast for the year after posting lower first-quarter earnings on Tuesday, dragging its shares down 3.5 percent even though the profit topped analysts' expectations.
Freddie Mac (FRE.N) (FRE.P), the second largest U.S. home funding source, hopes to name a new chief executive officer and a finance chief next month, the Wall Street Journal said.
Best Buy Co Inc posted lower first-quarter earnings and weaker-than-expected sales on Tuesday and also implied earnings for the rest of the year would be worse than forecast, dragging its shares down 3 percent.
New U.S. housing starts and permits rebounded in May from record lows as ground-breaking for multifamily units surged after tumbling the prior month, a government report showed on Tuesday.
At New York's Del Posto, diners can share a $130 entree of wild branzino fish with roasted fennel and peperonata concentrato and a $3,600 bottle of Dom Perignon. They cannot share a bottle of Perrier or San Pellegrino water.
Tesco, Britain's biggest retailer, posted a 4.3 percent rise in underlying first-quarter British sales, showing a pick up in growth from the previous quarter but still lagging its main rivals.
Whitbread, Britain's biggest hotel operator, said on Tuesday trading in the first quarter had been in line with its expectations with total group sales increasing by 2.5 percent.
Officials at Malaysia's gaming firm Resorts World Bhd told shareholders on Tuesday it does not see any obstacles in investing in the Chinese gambling enclave of Macau, but has made no decision about the move.
A Canadian pension fund moved closer to sealing a takeover of Australia's Macquarie Communications Infrastructure Group on Tuesday, raising its offer to $1.3 billion and securing the approval of the two biggest shareholders.
Telecom industry group the GSM Association expects the mobile industry to see continued growth in usage, despite the recession, and to provide simulus for the global economy.
Netbook pioneer Asustek said on Tuesday it could turn to an operating profit in the current quarter as it works to turn around its business after two straight quarters of operating losses.
Software maker Medidata Solutions Inc has rescheduled its initial public offering until next week, one of the deal's underwriters said Monday, setting the stage for the busiest week for IPOs since April 2008.
Mexico's top building company ICA said on Monday it could sell up to 150 million shares in Mexico and the United States to finance projects in infrastructure and housing.
Railroad operator Genesee & Wyoming Inc said it intends to halt operations at its unit Huron Central Railway Inc due to the economic downturn.
The Boston Globe and a key union held marathon talks over employee concessions on Monday and will reconvene on Tuesday, raising the possibility of a new outcome to a bitter labor dispute at the 137-year-old daily newspaper.
Investment bank Nomura Holdings and insurer T&D Holdings are among the firms in the second round of bidding for Citigroup's asset management arm in Japan in a deal likely to exceed $1 billion, five sources familiar with the matter said.
Oil fell for a third day toward $70 a barrel on Tuesday as a firm dollar and stock market declines pulled prices further from eight-month highs.
federal appeals court on Monday ordered Exxon Mobil Corp to pay $507.5 million in punitive damages stemming from the 1989 Exxon Valdez oil spill off Alaska, plus 5.9 percent interest running from the 1996 trial judgment, the opinion said.
Deltek Inc on Monday said it has releases its Cobra 5.0, the cost engine for Earned Value Management solutions for government and businesses.
Hisense Group, one of China's top TV and appliance makers, is issuing 150 million shares, aiming to raise about RMB 1.5 billion($219 million).
A Pennsylvania Court upheld a previous ruling on Monday that a local store cannot sell beer for takeout only because doing so would not be allowed under its retailer license.
The second bankruptcy auction for off-price retailer Filene's Basement was won on Monday by a joint $62.4 million bid by discount clothier Syms Corp and developer Vornado Realty Trust , a restructuring expert advising Boston-based Filene's said.
With two weeks left for the deadline on iron ore price negotiation, Brazil’s mining giant Vale expressed the importance of China’s market to its operations, easing the tense atmosphere and indicating desire to reach an agreement.
A plan outlined by Six Flags Inc on Monday would leave secured lenders with lion's share of the theme park operator when it emerges from bankruptcy while unsecured lenders would get very little.
Honda Motor Co. is not optimistic about meeting its 2009 sales goal for the Insight hybrid vehicle in the United States, according to an executive at the automaker, Bloomberg reported Monday.
Qatar Airways ordered 24 planes from Airbus as the world's largest air show opened in Paris on Monday, the Gulf carrier flexing its financial muscles as many recession-hit rivals struggle to find funds.
Ford Motor Co has found advantages in going without the federal emergency aid that supports its domestic rivals, although the long-term implications of the government intervention are unclear, Ford Chairman Bill Ford said on Monday.
