American Express Co , reported on Thursday sharply lower first-quarter earnings, as the fourth-largest U.S. credit card company struggled with higher bad loans, and set aside more money to cover those losses.
U.S. officials testing the health of the nation's top banks must walk a tightrope when they disclose the exams' results: The scrutiny must be tough enough to be credible, but not so harsh as to rattle an already shaken system.
General Motors Corp said on Thursday it would slash production over the next three months to cut its inventory of cars and trucks and avoid the risk of an uncontrolled shutdown from the financial crisis at bankrupt supplier Delphi Corp .
Australian Dollar: After another attempt to break through the 70 cent level in Asia yesterday the Aussie dollar shrugged off more weak data in the form of March New Motor Vehicle sales to enter
U.S. Attorney General Eric Holder said on Thursday he was considering forming a financial fraud task force and advocated a more comprehensive view of the causes behind the U.S. economic crisis.
Chrysler LLC's first-lien lenders are preparing another counter-offer to the U.S. Treasury that involves reducing the automaker's debt, sources familiar with the matter said on Thursday.
The credit card industry needs more accountability, transparency must be improved and unfair rate increases need to come to an end, President Barak Obama urged on Thursday at a White House meeting.
U.S. stocks rose in volatile trade on Thursday as better-than-expected results from several regional banks lifted financial shares, overshadowing disappointing economic data and anemic outlooks from economic bellwethers like United Parcel Service.
U.S. stocks rose in volatile trade on Thursday as better-than-expected results from several regional banks lifted financial shares, overshadowing disappointing economic data and anemic outlooks from economic bellwethers like United Parcel Service.
Amazon.com on Thursday beat Wall Street expectations for first quarter earnings and sales as it drew more customers online and its Kindle electronic reader gained momentum.
Former U.S. National Security Adviser Condoleezza Rice gave the go-ahead to the CIA for an interrogation program that included the method known as waterboarding in 2002, and Vice President Dick Cheney affirmed White House support a year later, a Senate Intelligence Committee report said on Wednesday.
Bank of America Corp CEO Kenneth Lewis was pressured by senior federal officials Henry Paulson and Ben Bernanke to accept a merger with troubled Merrill Lynch & Co or lose his job, New York Attorney General Andrew Cuomo said on Thursday.
President Barack Obama came under strong criticism from Republicans on Wednesday for leaving the door open to the prosecution of former Bush officials who authorized severe interrogations by the CIA.
President Barack Obama urged U.S. credit card company executives on Thursday to stop unfair rate increases and be more transparent and accountable, tapping into popular outrage over abusive lending.
The number of newly laid off U.S. workers filing claims for unemployment aid rose last week and sales of previously owned homes fell in March, according to data on Thursday that showed the economy still sliding downward.
Echelon Corp and T-Mobile USA, Inc. will partner to accelerate the adoption of the smart grid in the U.S. by using T-Mobile's wireless network to communicate data from meters to utilities, the companies said on Thursday.
Hartford Financial Services Group Inc is trying to sell its property and casualty business, sources familiar with the matter said on Thursday, as the U.S. insurer reels from massive losses.
The Treasury is preparing a Chapter 11 bankruptcy filing for Chrysler LLC that could come as soon as next week, The New York Times reported on Thursday, citing people with direct knowledge of the matter.
The Treasury is preparing a Chapter 11 bankruptcy filing for Chrysler LLC that could come as soon as next week, The New York Times reported on Thursday, citing people with direct knowledge of the matter.
Oil rose on Thursday as a fall in the dollar and stock market gains outweighed rising U.S. inventories.
Hartford Financial Services Group Inc is trying to sell its property and casualty business, sources familiar with the matter said on Thursday, as the U.S. insurer reels from massive losses.
