Federal Reserve Chairman Ben Bernanke said on Tuesday the three-year U.S. housing bust may be near a bottom and the recession should end this year, as long as there is no relapse of the credit squeeze that has strangled the economy.
U.S. stocks dipped on Tuesday as investors opted to book profits from the recent sharp run-up, while energy shares succumbed to pressure from retreating oil prices.
This week, the Obama Administration failed to push through a reorganization plan for Chrysler that would have, among other things, used government bailout money to give the United Auto Workers a majority stake in the company.
Thresher Industries, Inc., a manufacturer of precision recycled aluminum and advanced metal matrix composite parts, announced this afternoon that it is developing a broad array of high-strength, cast aluminum components designed to help build cleaner, energy efficient vehicles. Thresher’s proprietary, biodegradable processes have already been successfully used in products for Chevrolet, Chrysler,...
Top chief executives still expect the U.S. economy to remain mired in recession through 2009 but their confidence in the likelihood of a recovery next year is on the rebound thanks to growing optimism about their own businesses.
Microsoft Corp said on Tuesday it is laying off more workers, almost completing its plan to cut 5,000 jobs by June 2010, and left the door open for yet more job cuts.
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.
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.
Oil fell on Tuesday after hitting a 2009 high as bulging oil inventories and falling energy demand outweighed fragile hopes for an economic recovery.
President Barack Obama and Democratic lawmakers reached agreement on Tuesday on a legislative proposal designed to stimulate U.S. auto sales, which have fallen to near 30-year lows.
President Barack Obama announced Tuesday his intent to nominated Inez Moore Tenenbaum as new chair of the Consumer Product Safety Commission (CPSC) and Robert S. Adler as a new commissioner of the agency, according to a White House’s statement
Legg Mason Inc's quarterly loss widened as it pared toxic assets from its books and cut its quarterly dividend 88 percent to 3 cents per share, sending the money manager's shares down 14 percent.
China has tightened visa rules for citizens from the United States, which has reported the second highest number of swine flu cases in the world.
Stocks slipped on Tuesday as the recent sharp run-up tempted investors to take profits and energy shares were pressured by a decline in oil prices.
Legg Mason Inc's quarterly loss widened as it pared toxic assets from its books and cut its quarterly dividend 88 percent to 3 cents per share, sending the money manager's shares down 18 percent.
The U.S. services sector contracted less severely in April and was back to its October 2008 level, a report showed on Tuesday, adding to evidence the world's largest economy was nearing bottom and moving closer to recovery.
U.S. trade regulators are examining links between Apple Inc. and Google Inc. as the two tech giants share some board members.
A Chrysler lenders group objected on Tuesday to the automaker's plans for a quick sale of most of its assets in U.S. Bankruptcy Court, saying it is structured to achieve political goals, rather than economic ones.
Legg Mason Inc's quarterly loss widened 27 percent as the money manager booked losses from paring toxic assets from its books, and the company cut its quarterly dividend to 3 cents per share from 24 cents a share.
The U.S. services sector contracted less severely in April and was back to its October 2008 level, a report on Tuesday showed, adding evidence the world's largest economy was nearing bottom and moving closer to recovery.
U.S. regulators are working with the top 19 banks on Tuesday to put the final touches on the results of regulatory stress tests, which are expected to reveal about half the banks need more capital but face manageable losses.
Molson Coors Brewing Co reported a higher quarterly profit on Tuesday, as increased prices and cost cuts helped offset steeper commodity costs, the stronger U.S. dollar and lower sales volume.
