The Treasury Department on Wednesday declined to name China a currency manipulator, backing down from tough talk last year when Barack Obama, then campaigning for president, said Beijing was keeping its currency unfairly low.
Goldman Sachs said it expects bottlers Coca-Cola Enterprises Inc and Pepsi Bottling Group Inc to benefit from accelerated soda sales, new distribution agreements and a possible fall in commodity prices.
Microsoft Corp confirmed on Wednesday a report that it had received a one-week extension from EU antitrust regulators to respond to charges that it had sought to thwart rivals by bundling its web browser with Windows systems.
The Obama administration wants to ensure that legislation being crafted by Congress to fight global climate change does not violate international trade rules and backfire on U.S. exports, the top U.S. trade official said in a letter to a Republican lawmaker.
Oil prices fell marginally on Wednesday as government data showed U.S. crude stocks last week were at the highest level since September 1990.
The U.S. Federal Reserve may face uncomfortably close congressional scrutiny unless it can convince lawmakers that its job in the midst of a crisis is much bigger than merely raising and lowering interest rates.
Many economists expect the U.S. recession to end in the second half of this year, but companies catering to consumers showed on Wednesday that the prolonged downturn and rising unemployment are taking a toll on business in the near term.
The Dow and S&P 500 rose in a choppy session on Wednesday on hopes that the recession was moderating and Procter & Gamble's stock jumped after it raised its dividend.
President Barack Obama offered a
First Solar Inc. will build a 48 Megawatt photovoltaic power plant that would become the largest in the U.S. when its construction is completed in 2010, the company announced on Wednesday.
Fiat SpA's chief executive said there were other options to a partnership with troubled U.S. car maker Chrysler LLC although he still wanted seal the deal by the April 30 deadline set by Washington.
The French Navy detained 11 suspected pirates in a raid off the coast of Kenya Wednesday, the French Ministry of Defense announced.
The global car industry is showing no convincing signs of recovery yet as sluggishness in developed economies has deeply dented demand, a Hyundai Motor Group vice chairman said on Wednesday.
The risk of a General Motors Corp bankruptcy is rising, causing bondholders to pursue independent strategies to protect their interests if GM's survival battle moves to bankruptcy court, two sources close to the government talks with GM said on Tuesday.
U.S. consumer prices fell in March, posting their first 12-month drop in nearly 54 years, and industrial production slipped further, according to data on Wednesday that underscored the severity of the recession.
Many economists expect the U.S. recession to end in the second half of this year, but companies catering to consumers showed on Wednesday that the prolonged downturn and rising unemployment are taking a toll on business in the near term.
Roche Holding AG said Tuesday it has completed its Genentech acquisition, setting up Genentech CEO Arthur Levinson as the chair Genentech’s new board.
Abbott Laboratories Inc on Wednesday reported lower-than-expected quarterly sales, hurt by generic competition for its Depakote anti-seizure drug, but one-time gains and demand for stents drove profit higher.
Oil edged higher on Wednesday as stock market rises outweighed a bearish weekly U.S. crude oil inventory report.
International Atomic Energy Agency inspectors turned off surveillance cameras and left the site of North Korea's nuclear bomb program on Pyongyang's demand on Wednesday, a diplomat close to the IAEA told Reuters.
A review of defense programs produced every four years could bring big changes in the Pentagon's fiscal 2011 budget, beyond the sweeping overhaul already unveiled for 2010, U.S. Defense Secretary Robert Gates said on Wednesday.
President Barack Obama promised Americans his administration would rewrite the monstrous U.S. tax code as millions faced an annual deadline on Wednesday for filing federal income tax returns.
