UNITED STATES

Bernanke pledge of low rates lifts Wall Street

U.S. stocks rose on Wednesday after Federal Reserve Chairman Ben Bernanke reaffirmed his commitment to keep interest rates low for an extended period to sustain the still-fragile recovery.

FOREX-Dollar falls vs euro, yen after Bernanke testimony

The U.S. dollar fell versus the euro and yen on Wednesday after comments by U.S. Federal Reserve chairman Ben Bernanke dampened speculation monetary policy tightening might be nearing. An unexpected plunge in new U.S. home sales last month further dampened investor sentiment and reinforced the low rates outlook. Analysts said the housing figures, combined with a drop in a consumer confidence reading on Tuesday, underscore the fragility of economic recovery.

Swiss suggest fix to UBS tax headache in U.S.

Switzerland will ask parliament to turn a deal with Washington that got bank UBS off the hook in a tax evasion case into binding law, plugging a legal hole that is stopping Berne from honoring the agreement.

Recalled cars termed unsafe; Toyoda grilling nears

The top U.S. transport official labeled recalled Toyota Motor Corp vehicles not safe as the Japanese automaker's president waited to be grilled by lawmakers about recent safety lapses.

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Geithner repeats call for financial reform bill

Treasury Secretary Timothy Geithner on Wednesday repeated his call for Congress to pass financial reform legislation that curbs risk-taking by big financial firms and ensures they can absorb their own losses.

Toyoda pledges cooperation as U.S. grilling nears

Toyota Motor Corp's president pledged to cooperate fully with U.S. government officials investigating safety problems on Wednesday as he prepared to tell a congressional panel that the automaker had let standards slip in its rise to the top.

Wall Street up after Bernanke interest rates comments

U.S. stocks advanced on Wednesday after Federal Reserve Chairman Ben Bernanke reaffirmed his commitment to keep interest rates low for an extended period.

Wall Street adds gains on tech, financials

U.S. stocks extended gains on Wednesday, with the Dow and Nasdaq up more than 1 percent, as technology and financial shares advanced after Federal Reserve Chairman Ben Bernanke vowed to keep interest rates low to foster an economic recovery.

How long can the U.S. dollar defy gravity?

The only time the U.S. dollar ever took a serious shellacking in the marketplace, the wounds were almost entirely self-inflicted.

US Jan mass layoffs edge up on weak manufacturing

The number of mass layoffs by U.S. employers edged up in January as manufacturers stepped up job cuts, data showed on Tuesday, but probably not enough to alter views that the economy is on the brink of creating jobs.

Stocks up after Bernanke comments, housing weighs

U.S. stocks rose on Wednesday after Federal Reserve Chairman Ben Bernanke reaffirmed his commitment to keep interest rates low for an extended period.

Bloom Energy to unveil energy-in-a-box today

Bloom Energy, the San Francisco based energy startup which has been drawing a lot of attention this week, is holding a press event Wednesday morning where the company is expected to unveil further details on its Bloom Box product.

Toyoda arrives for grilling in Congress

Toyota Motor Corp's president pledged to cooperate fully with U.S. government officials investigating safety problems on Wednesday as he prepared to tell a congressional panel that the automaker had let standards slip in its rise to the top.

Lane changing Kramer takes gold in 'oops' Games

A coach's split-second lapse of concentration was all it took to add Sven Kramer's name to a roll call of athletes hit by mishap, mistake or miscalculation when they thought Olympic gold was already in the bag.

Thomson Reuters sees 2010 revenue flat to slightly down

Thomson Reuters Corp reported a lower quarterly profit and signaled that cutbacks by financial customers last year would continue to hurt revenue in 2010, sending its shares down 2 percent.

Canada guns for Russia in superpower showdown

Canada stormed into the Olympic men's ice hockey quarter-finals on Tuesday while Switzerland and the Czech Republic were pushed to the limit and Slovakia battled to a bloody victory over Norway.

Stock market edges up cautiously ahead of Bernanke testimony

Europe and U.S. stock indices edged up cautiously ahead of Fed Chairman Bernanke's semi-annual testimony on monetary policy and the state of the economy at 10:00 am EST.

Stocks point higher ahead of Bernanke

U.S. stock index futures pointed to a slightly higher open on Wednesday as investors looked ahead to congressional testimony from Federal Reserve Chairman Ben Bernanke for clues to the U.S. central bank's thinking on the economy.

Games enthralled by day of raw emotion on ice

Canada's Olympic inquisition was put on ice after an extraordinary day of raw emotion at the Vancouver Winter Games on Tuesday.

China textiles, garments export value rises in Jan

China's textiles and garments export value hit $15.57 billion in the first month of this year. In a statement issued here,China's General Administration of Customs said, this was an increase by 2.2 percent from the same month last year.

Toyota faces grilling in Congress

Toyota Motor Corp's president braced for tough questions from a U.S. congressional panel on Wednesday.

Stocks points higher ahead of Bernanke

U.S. stock index futures pointed to a slightly higher open on Wednesday as investors looked ahead to congressional testimony from Federal Reserve Chairman Ben Bernanke for clues to the U.S. central bank's thinking on the economy.

Jobs market to support housing post incentives

The U.S. government will pull the plug soon on a popular tax credit that has helped prop up the struggling housing sector amid hope that a pickup in hiring will give the market a fresh shot of life.

Citi in advanced talks to sell hedge business: report

New York-based SkyBridge Capital is in advanced talks to purchase Citigroup Inc's $4 billion hedge fund business, according to the Wall Street Journal.

Oil slips on weak recovery signs

Oil shed over 30 cents to near $78.50 on Wednesday as investors fretted over signs of weakness in any global recovery and waited for U.S. figures later for clearer indications on crude inventories and imports.

Home purchase loan demand at lowest since 1997

US mortgage applications fell for a third straight week, with demand for home purchase loans sinking to the lowest level in 13 years as inclement weather weighed.

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