The United States recession could end in the second half of this year but will likely not give way to a robust rebound in growth, Janet Yellen, President of the Federal Reserve Bank of San Francisco, said.
Citigroup Inc may have to raise $5-$10 billion in new capital to meet a U.S. government requirement that it holds up to $55 billion in capital, the New York Times said, citing people familiar with the matter.
The United States must tackle systemically important financial firms deemed too big to fail through tighter oversight and higher capital buffers, according to remarks by a top Federal Reserve official obtained by Reuters on Tuesday.
Jim Balsillie, the co-chief executive of Canadian smartphone maker Research in Motion, wants to import a hockey team up North.
Stocks slid and the yen rose on Wednesday after news Bank of America needs $34 billion in fresh capital, sending shivers through investors ahead of official results of stress tests on U.S. banks due for release on Thursday.
The nation's top power industry regulator on Tuesday suggested that U.S. utilities don't need to build big nuclear or coal-fired power plants to fill the nation's future power supply needs.
Lost financing, low prices for natural gas and political uncertainty have stymied a potential boom in the U.S. wind power industry this year.
Walt Disney Co is developing an Internet subscription service and may consider trimming studio output, executives said on Tuesday after the division posted a 97 percent decline in operating income.
U.S. officials could lay out as soon as Wednesday guidelines for how banks can repay taxpayer bailout funds, sources familiar with administration thinking said on Tuesday.
A U.S. bankruptcy judge on Tuesday considered whether Chrysler LLC could move forward with its plans for a quick sale of most of its assets while rival General Motors Corp prepared to resume talks with its union and detailed a plan that could shift majority ownership control to the U.S. government.
A U.S. bankruptcy judge on Tuesday considered whether Chrysler LLC could move forward with its plans for a quick sale of most of its assets while rival General Motors Corp prepared to resume talks with its union and detailed a plan that could shift majority ownership control to the U.S. government.
Energy power firms posted lower earnings on the first quarter of 2009 Tuesday, resenting from the global economic slowdown which has reduced power demand across the nation.
General Motors Corp on Tuesday detailed plans to all but wipe out the holdings of remaining shareholders by issuing up to 60 billion new shares in a bid to pay off debt to the U.S. government, bondholders and the United Auto Workers union.
The Walt Disney Co posted a 26 percent earnings drop on Tuesday as the global downturn ate into ad sales and consumer spending, but company executives said the worst may be over for its key media networks and theme parks businesses.
Federal Reserve Chairman Ben Bernanke, seeking to soothe markets worried about the eagerly awaited government stress tests of 19 big banks, on Tuesday downplayed the possibility of new taxpayer bailouts.
The Obama administration stepped up pressure on Israel's new government on Tuesday to accept the goal of a Palestinian state and halt expansion of Jewish settlements on occupied land.
The father of the money market mutual fund -- investor Bruce Bent -- was charged with fraud by U.S. regulators on Tuesday over accusations he deceived investors into believing his flagship fund was safe before it broke the buck last year.
The father of the money market mutual fund -- investor Bruce Bent -- was charged with fraud by U.S. regulators on Tuesday over accusations he deceived investors into believing his flagship fund was safe before it broke the buck last year.
A small group of Chrysler's lenders who have objected to the Obama administration's plan for a quick dash through bankruptcy must identify themselves, in spite of death threats, a U.S. judge ruled on Tuesday.
Oprah has teamed up with fast food giant KFC to offer its newest menu item free of charge as part of its “unthink” campaign.
U.S. Representative Barney Frank will unveil legislation on Wednesday to roll back a U.S. ban on online gambling, he said in a statement on Tuesday.
NEW YORK - U.S. President Barack Obama's administration issued a draft rule on Tuesday aiming to cut greenhouse gasses emitted by biofuels but confirming his predecessor's target for production of corn-based ethanol.
