General Motors Co has secured a $5 billion credit facility, two people briefed on the bank deal said on Wednesday, marking the return of the top U.S. automaker to the capital markets a year after it emerged from a landmark bankruptcy.
Gold edged up in early European trade on Thursday underpinned by it safe-haven appeal due to increasing uncertainty about the health of the global economy, but a stronger dollar was likely to cap gains.
Oil slid on Thursday for a third straight day on mounting fears that a slowdown in the global economic recovery would cut commodities demand.
Japan's Nikkei average slid to a 13-month low on Thursday after U.S. stocks erased the year's gains in the broadest selloff in a month-and-a-half on Wednesday.
The dollar dipped on Thursday after scoring its biggest daily gain for nearly two years against most major currencies the previous day as concerns about the U.S. and global economies triggered a wave of unwinding in short dollar positions.
But the greenback rose to the day's high of around 85.50 yen from a 15-year trough against the yen marked the day before, after market sources told Reuters the Bank of Japan checked exchange rates with banks earlier on Thursday.
Gold rebounded in thin Asian trade Thursday despite a strong dollar while palladium dropped nearly four percent.
Gold for immediate delivery was seen trading at $ 1199.17 an ounce at 12.00 noon Singapore time while US gold futures for December delivery was at $1202.2 an ounce.
Japan's trade ministry said on Thursday that Apple Inc's Japan unit has satisfied its demands for improved safety notifications about overheating iPod nano portable music players.
Automaker General Motors Co has finalized its $5 billion credit facility and plans to file for its initial public offering on Friday, according to sources familiar with the situation.
Macy's Inc quarterly results showed the department store operator boosted sales and gained market share without relying as much on discounts as its rivals to get shoppers into stores.
The United States racked up a $165.04 billion budget deficit during July, 8.7 percent below the year-ago gap as economic stimulus and bailout spending subsided from peak levels, the Treasury Department said on Wednesday.
The United States racked up a $165.04 billion budget deficit during July, 8.7 percent below the year-ago gap as economic stimulus and bailout spending subsided from peak levels, the Treasury Department said on Wednesday.
U.S. stocks turned negative for the year on Wednesday as softer Chinese factory data and a weaker outlook from the Federal Reserve increased worries about the recovery and sparked a selloff.
American International Group Inc
is selling most of its consumer finance unit to hedge fund and private equity firm Fortress Investment Group at a deep discount and taking a $1.9 billion pretax loss due to the sale.The Obama administration on Wednesday nearly doubled to $4.1 billion the size of its foreclosure prevention program to help struggling homeowners hardest hit by falling home prices and rising unemployment.
Stocks tumbled 2 percent and turned negative for the year on Wednesday as softer Chinese factory data and a weaker outlook from the Federal Reserve increased worries about the recovery.
(Corrects to say softer instead of softer-than-expected Chinese factory data in first paragraph)
Unemployed homeowners in 17 U.S. states and the District of Columbia will soon be eligible for government help to avert foreclosure under a $2 billion program announced on Wednesday.
U.S. securities regulators said on Wednesday they are moving forward with technical fixes to the still-unexplained May flash crash, but some market players say they want a more wholesale review of high-speed trading.
After beating cancer, while the body is clear from harm's way, the mind of survivors may not be as ready to go back to its normal cancer-free state.
U.S. job openings were flat in June while the number of new hires slipped, according to a government report on Wednesday that underscored the persistent weakness in the labor market.
Home loan demand climbed last week but record low mortgage rates failed to light a fire in a market constrained by unemployment and tight lending practices.
Owners cut prices on one-quarter of U.S. homes listed for sale in July, a fourth straight monthly rise, as job market fallout trumped record low mortgage rates, real estate website Trulia.com said on Wednesday.
Stocks fell sharply on Wednesday after weaker manufacturing data from China and a gloomier growth outlook from the Federal Reserve heightened fears of a lackluster global economic recovery.
