Sears Holdings Corp's quarterly profit plunged 38 percent as sales lost momentum late in the quarter and higher costs and markdowns weighed on margins, pushing its shares down 7.3 percent.
Just a few weeks ago, there was virtually unanimous agreement among investors and economists that China was on the cusp of dropping the yuan's peg to the dollar, while the debate centred on how it might happen.
NEW YORK (Reuters Health) - Between 1 and 2 percent of children in the U.S. and Canada may have allergies to peanuts or tree nuts, with the U.S. rates seemingly on the rise, two new studies suggest.
Foreigners bought a record $140.5 billion of long-term U.S. securities in March, the Treasury Department said on Monday, and more than doubled purchases of U.S. government bonds.
General Motors Co posted a first-quarter profit on Monday and said it is making progress toward a turnaround expected to put it on track toward its first full-year profit since 2004.
British bank Standard Chartered is replacing the BlackBerry, currently its standard corporate communications device, with the iPhone, a move that could eventually result in thousands of bankers switching to the Apple device for business communication on the go.
The US environmental advocacy groups reported that several perfumes containing chemicals that have not been thoroughly tested for safety may have serious health effects.
The Treasury Department is interviewing Wall Street bankers to advise the government on an initial public offering of General Motors Co , the Wall Street Journal reported on Saturday.
The U.S. Treasury Department is interviewing Wall Street bankers to advise the government on an initial public offering of General Motors Co , the Wall Street Journal reported on Saturday.
Cisco Systems Inc's quarterly results topped Wall Street forecasts as a global economic recovery encouraged companies to upgrade their networks, but CEO John Chambers' cautious tone prompted investors to sell the shares.
Global woes and the uncertainty over the future have forced investors to go for bullion and the prospects for silver is extremely good in the coming years, said metal consultants CPM Group.
Ottawa - The Canadian Food Inspection Agency has issued a warning recalling on certain processed meat products which was contaminated with Listeria.
While the oil spill from a sunken drilling rig in the Gulf of Mexico threatens to become an environmental disaster, plans are proceeding for opening up new drilling territories in the iceberg-infested waters off Greenland. The island, an autonomous territory under Danish sovereignty, this week conducted an auction for 14 blocks in Baffin Bay, off the northwest coast of Greenland near Canadian territorial waters. Results will be announced in August.
The U.S. Federal Reserve reopened currency swap facilities with other major central banks on Sunday to help ease market strains in Europe.
The euro rallied from last week's 14-month low against the dollar on Monday after European Union leaders agreed on an emergency loan package to prevent Greek's debt crisis from spreading through the region. The package, which with IMF support may reach 750 billion euros, along with measures by central banks to address funding strains and a European Central Bank plan to buy the region's government bonds, calmed nerves after contagion fears triggered a global rout in equities and other risky asset...
The Group of Seven rich countries is concerned about Greece's debt problems, a Canadian official said on Friday, and hinted that there may be other countries that will also need help.
Employment grew at the fastest pace in four years in April as businesses ramped up hiring, suggesting the economic recovery was growing less dependent on government support.
Apple Inc said on Friday it will launch the iPad tablet computer in nine international markets on May 28, following a strong debut in the United States last month.
U.S. employment grew at the fastest pace in four years in April as private sector businesses ramped up hiring, showing the labor market recovery gaining steam.
Frank Stronach, the colorful founder of Magna International Inc, will release his grip on the world's No. 3 auto parts maker in a deal that will pay him nearly $900 million and encourage outside investment in the company.
Shares of Magna International Inc surged 21 percent on Thursday, after it said it inked an agreement with founder Frank Stronach to eliminate the auto parts maker's dual class structure.
Nike Inc expects its revenue to rise more than 40 percent to $27 billion by 2015, helped by new stores and demand for its namesake brand and smaller brands like Converse, the athletic giant said on Wednesday.
