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MetLife posts $1.4 bln quarterly net loss

MetLife , the largest U.S. life insurer, posted a quarterly net loss of $1.4 billion on Thursday, as investment losses took their toll.

Michael Jackson's fourth child confirmed (video)

Michael Jackson's father Joe Jackson has confirmed that Omer Bhatti is really Michael's fourth child.

North Americans snap up concert tickets at deep discounts

Unemployment is up and consumer confidence is down, but one silver lining of the recession is that last-minute tickets to hear big acts like Coldplay and Bruce Springsteen are as little as $1.

Oil jumps 5 percent, economic data raises recovery hope

Oil jumped more than 5 percent to near $67 a barrel on Thursday as economic data sparked fresh optimism that the recession may be bottoming out.

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Cap-and-trade role on national security sparks debate in Senate

The cap-and-trade bill will do little to stop trade wars overseas and will instead start conflicts that will threaten American workers at home and abroad, Missouri senator Kit Bond said Thursday during remarks at the Senate Environment and Public Works hearing.

Former Wall Streeters take on new parenting roles

Former project manager Bob Short has a ready answer to describe which job is more difficult -- his old post at Nuveen Investments or his current position as stay-at-home dad.

Videogame industry looks for second-half comeback

With the once-resilient videogame industry mired in a slump, investors are looking to big-name titles and potential price cuts for game consoles in the second half of the year to help spur a rebound in sales.

Wall St. rallies on earnings; jobless claims help

Stocks rose on Thursday as solid corporate profit reports and a drop in the number of Americans on jobless benefits gave investors reasons to buy equities following the S&P 500's two days of losses.

Senate hits another snag on healthcare

With polls showing public support for President Barack Obama's healthcare reform waning, Senate negotiators hit another snag on Thursday when a key Finance Committee Republican said the panel would not be ready to vote until September.

Co-ops in focus in U.S. healthcare debate

U.S. lawmakers debating a huge overhaul of the nation's healthcare system are increasingly focusing on proposals that healthcare cooperatives could be formed to help provide medical coverage.

JP Morgan German head sees lessons from crisis

Karl-Georg Altenburg, head of JP Morgan's German business, said he expects companies to learn from the financial crisis and aim for a stronger capital base in the longer term, according to a German paper.

Palin likely to speak at Simi Valley Republican Women Club's 50th anniversary

Former Alaska Gov. Sarah Palin is expected to make a visit to the Ronald Reagan Presidential Library and Museum in California on August 8.

U.S. bill would restrict OTC derivatives holdings

U.S. financial regulators would gain the power to restrict holdings of over-the-counter derivatives under legislation to be crafted in the coming months, the chairmen of two House of Representatives committees said on Thursday.

Judge approves Delphi sale to lender group, GM

A U.S. judge ruled on Thursday that auto parts maker Delphi Corp (DPHIQ.PK) can sell itself to a group of lenders, paving the way for the company to end its near four-year trip through bankruptcy court.

Nissan, EnerDel to co-fund battery research for EV's in U.S.

Nissan Motor Co. and battery maker EnerDel will co-fund research for a breakthrough technology consisting of a new electrical conductive material for electric and hybrid vehicle batteries, EnerDel said in a statement Thursday.

Bank of America plans China subsidiary: sources

Bank of America Corp plans to set up a wholly owned subsidiary in China to expand in the world's fastest-growing major economy, people briefed on the plan said.

Obama's 'beer summit': to beer or not to beer

The president Obama will invite Harvard scholar Henry Louis Gates Jr. and Cambridge Sgt. James Crowley to join him for a beer in hopes of defusing the racial dispute.

Opel Task Force member does not see deal by August 3

A member of the German government's Opel Task Force told Reuters on Thursday that negotiations between General Motors GM.UL and the two competing bidders for Opel could drag on longer than expected.

Earnings drive Wall St. rally; jobless claims help

U.S. stocks jumped on Thursday as solid corporate profit reports and a drop in the number of Americans on jobless benefits gave investors reasons to buy equities following the S&P 500's two days of losses.

Wal-Mart weighs role in U.S. H1N1 vaccination plans

Wal-Mart Stores Inc is discussing with U.S. health officials the possibility of putting vaccination sites at some of its stores for an H1N1 swine flu inoculation campaign this fall, a company official said on Thursday.

U.S. becomes Citigroup's biggest shareholder

One hundred ninety-seven years, one month and 14 days after its founding, Citigroup Inc has given a roughly 34 percent stake to U.S. taxpayers.

Bank of America CEO: Problems? Yes, we know

Bank of America Corp Chief Executive Kenneth Lewis downplayed growing concern that banks are indifferent to providing needed credit to get the economy moving again, while maintaining that vitriol over the industry's responsibility for the recession is overdone.

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