The International Air Transport Association (IATA) estimated that airlines will earn net profit of $15.1-billion this year – a 70 percent jump from its previous forecast made only three months ago when it forecast profits of $8.9-billion. But the group warned that net profit margins in the airline industry are pathetic
U.S. stocks rose on Tuesday after surprisingly strong November retail sales boosted optimism about consumer spending in the holiday shopping season, even as the Federal Reserve issued yet another cautious statement about the economy.
Richard Holbrooke, 69, U.S. President Barack Obama's special envoy to Afghanistan and Pakistan, died on Monday while undergoing a surgery for a torn aorta.
US stocks advanced in early trade on Tuesday, following better-than-expected reports on retail sales and producer prices.
WikiLeaks founder Julian Assange, arrested in Britain on Swedish allegations of sex crimes, was granted bail by a British court on Tuesday.
Viacom has attracted some high-profile support in its legal battle with YouTube, including software giant Microsoft and artists such as Garth Brooks and Sting.
The FT reported that market-making brokerage and bank J.P.Morgan has materially reduced its bets on lower silver prices, citing a person familiar with the matter.
Despite a robust expansion in output and healthy headline growth figures, the eurozone economic growth will moderate next year, but gain traction again in 2012, the European Commission said in a report released on Tuesday.
The chief executive officers of large U.S. companies are much more optimistic about the economy than a few months ago, although their expectations for growth remain modest, according to a quarterly survey by the Business Roundtable.
U.S. retail sales continued to rise in November for the fifth month, boosted by holiday shopping as well as fuel prices, the U.S. Commerce Department said.
Retail sales were stronger than expected in November as consumers stepped up despite the shadow of high unemployment, while producer prices rose, offering further evidence the economic recovery gathered steam in the fourth quarter.
Sales at retailers rose more than expected in November as consumers splurged on clothing and other items at the start of the holiday season and receipts at gasoline stations surged, more evidence the economic recovery gathered steam in the fourth quarter.
Producer prices for finished goods in the U.S. rose more than expected in November, posting an increase for the fifth straight month.
Fancy new features like 3D screens and Internet connectivity have failed to inspire U.S. television shoppers, dashing a hoped-for recovery in the global consumer electronics industry.
Futures on major U.S. stock indices point to modestly higher opening on Tuesday, following better-than-expected reports on retail sales and producer prices.
Prosecutors said on Tuesday they would appeal against a British judge's decision to grant bail to WikiLeaks founder Julian Assange, who has been arrested in Britain on Swedish allegations of sex crimes.
The Federal Reserve said on Tuesday it ordered Weststar Financial Services Corp to refrain from paying dividends or otherwise reducing the capital from its main subsidiary, The Bank of Asheville, in North Carolina.
The National Retail Federation raised its holiday sales forecast, saying stock market gains and higher income have lifted consumer confidence and given shoppers the ability to spend more this year.
China on Tuesday criticized a World Trade Organization (WTO) ruling yesterday that upheld the U.S. decision last year to slap duties on Chinese-made tires and said it will appeal to the global trade body. The Chinese commerce ministry repeated that the safeguard measures adopted by the U.S. on Chinese tire imports were protectionist and counter-productive.
An escalation of trade tensions between China and the U.S. may involve protectionist measures on the U.S. side and the creation of exclusionary Asian trade walls on China's side.
As holiday shoppers hit the markets, new study has revealed that Americans are more likely to say that as a result of the economic downturn, they will spend less money on holiday gifts this year.
As Congress considers a broad tax deal proposed by President Barack Obama and Republicans, high tech and manufacturing businesses are particularly favorable to a provision that would extend research and development tax credits.
