Oil prices rose above $70 a barrel on Tuesday, snapping their longest losing streak since 2001, as traders bet that government data will show U.S. crude inventories fell last week and colder-than-normal weather will boost demand for heating oil.
On December 14, FedEx Corp's busiest day this year, when the shipper handled almost double its normal number of packages, the entire system stretched to accommodate the global gift-giving frenzy that culminates nearly two weeks later around Christmas.
Regulators were poised to open up the U.S. cable market to more competitors by closing a cable loophole blocking access to some sports programs to competitors, a source familiar with the issue said on Tuesday.
U.S. bank regulators on Tuesday approved an initial proposal to jump-start the securitization market and strengthen standards to avoid abuses that helped lead to the economic crisis, but the board remained divided on what limits to impose on banks.
Microsoft said it was temporarily suspending its MSN China microblogging site, Juku, as it investigates a complaint of plagiarism from a start-up, Plurk.
Federal Reserve Chairman Ben Bernanke, in a response to a lawmaker's questions made public on Tuesday, said the U.S. economy is operating so far beneath its potential that inflation is unlikely to become a problem.
Borders Group, the bookstore chain criticized by some for being late to enter the digital books and readers market, has teamed up with fledgling Kobo Inc to set up an online store for mobile devices by 2010's second quarter.
A U.S. grand jury on Tuesday indicted Galleon hedge fund founder Raj Rajaratnam and co-defendant Danielle Chiesi on charges of securities fraud and conspiracy in an insider trading case involving employees of some of America's best-known companies.
- Hearings planned by a U.S. lawmaker to look into Exxon Mobil Corp's (XOM.N) takeover of XTO Energy Inc (XTO.N) would pose little risk to the completion of the merger, an analyst said.
(Corrects to remove erroneous reference to GE 2010 revenues being down 5 percent and 10 percent in paragraph 6)
Stocks fell on Tuesday, with the Dow and S&P 500 moving off 14-month highs, as a climb in producer prices raised inflation concerns and economic bellwether General Electric issued a flat outlook for 2010.
Bankrupt holding company Washington Mutual Inc asked a federal court to compel the U.S. Federal Reserve, U.S. Treasury and more than a dozen others to turn over documents relating to its collapse in 2008.
CME Group Inc began clearing U.S.-based credit derivatives on Tuesday, aiming to capitalize on a government push to safeguard a private market blamed for exacerbating the financial crisis.
U.S. home buyers are less willing to buy foreclosed properties than they were six months ago, citing risks like hidden costs, but demand could grow because of the government's expanded tax credit, a survey showed on Tuesday.
Swiss bank Credit Suisse said it was likely to pay a hefty $536 million to settle a U.S. probe into payments made between 2002 and 2007 involving parties that are subject to U.S. economic sanctions.
Stocks fell on Tuesday, with the Dow and S&P 500 moving off 14-month highs, as a climb in producer prices raised inflation concerns and economic bellwether General Electric issued a flat outlook for 2010.
Morgan Stanley named a company veteran to run its U.S. prime brokerage business, which offers services ranging from clearing trades to lending money to hedge funds.
An increasing shift away from fossil fuels such as gasoline to alternatives derived from plants and waste need not produce an increase in food prices, U.S. Agriculture Secretary Tom Vilsack told Reuters.
Stocks fell on Tuesday, with the Dow and S&P 500 moving off 14-month highs, as a climb in producer prices raised inflation concerns and economic bellwether General Electric issued a flat outlook for 2010.
General Electric Co expects profit to be flat at its big industrial units next year as the world economy begins to recover from a brutal economic downturn.
U.S. securities regulators may reduce the number of investment advisers who would have to undergo an annual surprise audit under a proposal to ensure that their clients' assets are safe, two sources familiar with the plan said on Tuesday.
The Aussie dollar retreated in local trade yesterday following the release of the RBA board minutes to the December meeting where rates were increased by another 0.25%.
