Oil prices pushed above $71 a barrel on Tuesday, spurred by record fuel imports to the world's second biggest energy user China, but the market was cautious ahead of the next set of supply and demand data.
The Treasury Department should consider expanding programs to cleanse troubled assets from bank balance sheets if current efforts fail to restart markets or if economic conditions worsen, a U.S. bailout watchdog panel said on Tuesday.
The Treasury Department should consider expanding programs to cleanse troubled assets from bank balance sheets if current efforts fail to restart markets or if economic conditions worsen, a U.S. bailout watchdog panel said on Tuesday.
Oil prices crept up toward $71 a barrel on Tuesday, spurred by record fuel imports to the world's second biggest energy user China, but the market was cautious ahead of the next sets of supply and demand data.
Adecco, the world's largest staffing group, said on Tuesday it had still not seen any recovery in its main European and U.S. markets and launched a new round of cost-cutting to protect profitability after a sharp drop in sales in the second quarter.
InterContinental Hotels, the world's biggest hotelier, said a recovery for the industry might be two years away after reporting first-half profit that fell but beat forecasts.
The value of U.S. homes fell by 12.1 percent in the second quarter from a year earlier, but the rate of decline shrank for the first time since prices began to fall in 2007, real estate website Zillow.com said on Tuesday.
The total value of distressed-debt deals, where creditors use their debt positions to take ownership of troubled companies, has touched $84.4 billion this year, the Wall Street Journal said, at a pace close to double that of 2008.
Oil rose above $71 on Tuesday, ending a three-day losing streak as record Chinese oil imports and refinery production helped offset mixed economic data, while traders anticipated key reports on the state of global demand.
Oil rose below $71 a barrel on Tuesday, ending a three-day losing streak ahead of U.S. data expected to show a fall in gasoline stocks, with weaker-than-expected Chinese economic data acting as a drag.
Israel will hold Lebanon responsible for any future Hezbollah attack should the Iranian- and Syrian-backed militia be brought into Beirut's incoming government, Prime Minister Benjamin Netanyahu said Monday.
Divers in New York's Hudson River on Monday found the body of the eighth victim of a midair collision of a helicopter and small plane that killed nine people, but they were unable to dislodge it from the underwater wreckage, authorities said.
The Treasury Department should consider expanding programs to cleanse troubled assets from bank balance sheets if current efforts fail to restart markets or if economic conditions worsen, a U.S. bailout watchdog panel said on Tuesday.
Oil was steady below $71 a barrel on Tuesday ahead of U.S. data expected to show a fall in gasoline stocks, with weaker-than-expected Chinese economic data acting as a drag.
Oil was steady below $71 a barrel on Tuesday ahead of U.S. data expected to show a fall in gasoline stocks, with weaker-than-expected Chinese economic data acting as a drag.
The value of U.S. homes fell by 12.1 percent in the second quarter from a year earlier, but the rate of decline shrank for the first time since prices began to fall in 2007, real estate website Zillow.com said on Tuesday.
Oil edged up toward $71 a barrel on Tuesday, ending a three-day losing streak, ahead of U.S. data expected to show a fall in gasoline stocks but the market also watched for signs from China of further economic strengthening.
Despite some slightly disappointing home loan and investment lending data out of Australia yesterday the Aussie dollar edged higher in Asia bouncing back from an early Monday morning sell off to 0.8330.
Bonus saga not over, New Test for GM, Hedge Insiders
Lone Star Funds joined other big private equity names in opposing proposed U.S. rules for investments in failed banks, as a designated period for public comment on the draft regulations comes to an end on Monday.
InfrastruX Group Inc, a provider of services to gas and electricity companies, is seeking to raise up to $290 million in an initial public offering, according to a regulatory filing on Monday.
Fluor Corp, the largest publicly traded U.S. engineering company, reported a better-than-expected profit along with growth in its order backlog despite a very challenging economic environment.
