U.S. consumer prices rose in February on higher gasoline and apparel prices, government data showed on Wednesday, calming fears of deflation for now.
General Mills Inc posted a lower-than-expected quarterly profit on Wednesday, hurt by the effect of the stronger dollar and high costs, but the food maker raised its full-year outlook, citing strong sales in the first nine months and lower costs in the current quarter.
Oil fell from a 2-1/2-month high toward $48 a barrel on Wednesday after industry data on Tuesday showed large builds in U.S. crude stocks.
Boutique investment firms and top hedge funds are slowly lapping up the cream of global banking talent as the financial crisis forces banks to cut staff and limit the pay of their top risk-takers.
With the aim of ending a regulatory turf war, U.S. government agencies on Tuesday said they would work together to cut red tape and spur development of offshore renewable energy projects.
The Federal Reserve resumed a two-day meeting on Wednesday that was expected to end with a vow to do whatever it takes to turn back the U.S. economy's deep recession but no new concrete steps to do so.
U.S. inflation rose in February on higher gasoline and apparel prices, government data showed on Wednesday, pointing to some pricing power in the recession-hit economy and easing fears of deflation for now.
Stocks were set to dip at the open on Wednesday as investors turned cautious before the Federal Reserve's policy decision, tempering optimism from a report that IBM was in talks to buy computer maker Sun Microsystems .
German carmaker Opel and its U.S. parent General Motors have, to the knowledge of the German government, sufficient financing to see them through into April, a junior economy minister said on Wednesday.
U.S. consumer prices rose in February on higher gasoline and apparel prices, government data showed on Wednesday, calming fears of deflation for now.
Stock futures were little changed on Wednesday as a report that IBM was in talks to buy computer maker Sun Microsystems offset caution before the Federal Reserve's policy decision.
IBM is in talks to buy Sun Microsystems Inc for at least $6.5 billion, The Wall Street Journal reported, in a deal that could bolster their computer server products against rivals such as Hewlett-Packard Co.
Oil fell from a 2-1/2-month high toward $48 a barrel on Wednesday after industry data showed large builds in U.S. crude stocks.
U.S. stock index futures pointed to a lower open on Wall Street on Wednesday as investors awaited decisions from the Federal Reserve's two-day policy setting meeting.
German carmaker Opel and its U.S. parent General Motors have, to the knowledge of the German government, sufficient financing to see them through into April, a junior economy minister said on Wednesday.
World share prices rose on Wednesday, while European government debt fell with forecast-beating U.S. housing data prompting more optimism among investors after the last week's rally.
China has rejected Coca-Cola's planned $2.4 billion acquisition of top juice maker Huiyuan Juice , saying the deal would have been bad for competition.
Bank shares powered ahead in Asia on Wednesday to underpin regional markets, while Japanese government bond futures edged up after the Bank of Japan sharply increased the debt it would buy to support the economy.
Former Qwest Communications International Chief Executive Joseph Nacchio asked a Denver judge to rule by Wednesday on a petition to delay the start of his six-year prison term for insider trading.
Some of the billions of dollars the U.S. government paid to bail out American International Group Inc stand to benefit hedge funds that bet on a falling housing market, the Wall Street Journal said, citing people familiar with the matter and reviewed documents.
A leading indicator of U.S. nonresidential construction activity rose slightly in February from a record low the previous month, an architects' trade group said on Wednesday.
Asian stocks drifted higher on Wednesday as banks extended gains, while Japanese government bonds rose after the Bank of Japan sharply increased the amount of government debt it would purchase to support the economy.
