Stocks fell on Wednesday as investors were hit by a report showing yet more deterioration in the housing market, while uncertainty about Washington's plans to shore up the banking system persisted.
President Barack Obama's first address to Congress offered few new insights on government plans to stabilize the economy and shore up banks.
Investors sold off shares of financial services companies a...
President Barack Obama and Treasury Secretary Timothy Geithner plan on Wednesday to lay out broad principles for Wall Street regulatory reform aimed at preventing a repeat of the current financial crisis, an administration official said.
President Barack Obama and Treasury Secretary Timothy Geithner plan on Wednesday to lay out broad principles for Wall Street regulatory reform aimed at preventing a repeat of the current financial crisis, an administration official said.
Stocks fell on Wednesday as President Barack Obama's first address to Congress shed little new light on how he plans to stabilize the economy and shore up banks, and gloomy home sales data fed the negative sentiment.
Obama said in his speech on Tuesday night the United States would emerge stronger from the ongoing crisis, but investors found little in what he said to spur buying after the market...
Three potential bidders are still looking at buying a large stake in American International Group's key Asian life insurance unit, people close to the matter said on Wednesday.
U.S. stocks cut losses on Wednesday after Federal Reserve Chairman Ben Bernanke said in Congressional testimony that regulators do not plan anything like nationalization for Citigroup.
Sales of previously owned U.S. homes plunged in January, reversing the previous month's surprise jump, and prices spiraled down to a six-year low as the deep recession and rising joblessness took its toll.
A drop in number of unsold homes offered some hope for the housing market, the main trigger of the worst financial crisis in the post-war period.
The pace of sales of existing home fell 5.3 p...
Federal Reserve Chairman Ben Bernanke said on Wednesday that he had an exit strategy from the U.S. central bank's recent massive monetary expansion that will keep inflation under control as the economy recovers.
U.S. stocks cut losses on Wednesday after Federal Reserve Chairman Ben Bernanke said in Congressional testimony that regulators do not plan anything like nationalization for Citigroup .
* Shares of Citigroup rose nearly 3 percent to $2.67. Before Bernanke's comments the stock was down more than 4 percent.
* Weighing on the market was disappointment that a major speech by U.S. Preside...
management can say, 'The paper still came out every day ... we still have some fat left to cut,' said Jim Hopkins, a former Gannett journalist who now writes a blog about the company.
Cornell's Blau agreed furloughs could offer employers a way to experiment with lower staffing while they're waiting for the economy to determine how much further they'll have to cut.
Still, I don't think...
Stock index futures pointed to a mixed open for U.S. shares on Wednesday, following a surge in the previous session.
At 5:30 a.m. EST, futures for the Dow Jones were flat; those for the S&P 500 were up 0.l percent and those for the Nasdaq were down 0.2 percent.
Macro data due includes sales of existing homes in January. A Reuters poll suggests sales will have risen to an annual pace of 4.79 ...
Stocks fell on Wednesday due to disappointment U.S. President Barack Obama shed little new light about how his administration would stabilize the economy in a major speech before Congress.
Long-standing worries about recession and the fate of the banking sector persisted, sending shares of financial services companies, big manufacturers and energy companies lower.
Bank of America s...
the offer expires on May 15.
CF has also said it plans to nominate three directors to replace three members of Terra's board at this year's annual meeting.
Terra has a classified board with staggered terms. Three directors will be elected to serve a three-year term at this year's annual meeting.
Even if the proposed deal does find favor with Terra's shareholders, it could run into regulato...
Stocks fell on Wednesday as investors found little new in a major speech by President Barack Obama on how he planned to stabilize the economy, while gloomy home sales data weighed on the market.
Long-standing worries about recession and the fate of the banking sector persisted despite Obama's speech to Congress on Tuesday night, sending shares of financial services companies, big manufacturers a...
Chrysler Chief Executive Bob Nardelli was meeting on Wednesday with members of the U.S. auto industry task force as officials begin to review the automaker's request for up to $5 billion in additional aid.
Nardelli was joined in the meeting by Chrysler President Tom LaSorda, who heads the automaker's manufacturing operations, and Chief Financial Officer Ron Kolka, according to a person briefed ...
Stock index futures dipped on Wednesday, as investors pondered whether the market would sustain a run-up seen in the prior session amid persistent concerns about recession and the financial sector.
Late on Tuesday, in his first speech to Congress, U.S. President Barack Obama tried to reassure Americans the country would emerge stronger from the crisis but analysts said he shed little light on how...
The pace of sales of existing home in the United States fell 5.3 percent in January to a 4.49 million-unit annual rate, while home prices dropped to a six-year low and inventories shrank, the National Association of Realtors said on Wednesday.
Economists polled by Reuters were expecting home resales to rise to a 4.79 million-unit pace from the 4.74 million rate for December.
The inventory of exi...
Canadian fertilizer maker Agrium Inc said on Wednesday it has offered to acquire U.S. rival CF Industries for $3.6 billion in cash and stock.
The bid is conditioned on CF dropping its hostile takeover offer for U.S. rival Terra Industries , which Terra has rejected.
Agrium said it has submitted a proposal to the board of directors of CF offering $72 in ca...
The pace of sales of existing home in the United States fell in January to a 4.49 million-unit annual rate while home prices and inventories dropped, the National Association of Realtors said on Wednesday.
Economists polled by Reuters were expecting home resales to rise to a 4.79 million-unit pace, from the 4.74 million rate initially reported for December, which was unchanged.
The inventory of ...
Oil rose above $40 a barrel on Wednesday, extending a 4 percent rally in the previous session, lifted by firmer equities before the release of U.S. inventory data expected to show rising supply.
World stocks rose on Wednesday after Federal Reserve Chairman Ben Bernanke signaled nationalization of big banks was not at hand. Investors' concern of nationalization had weighed on stocks.
The equit...
Norwegian seismic surveyor Global Geo Services (GGS) (GGS.OL), a supplier to the oil and gas industry, said on Wednesday a U.S.-based energy firm had shown interest in its survey offshore Iran.
Toronto-Dominion Bank (TD.TO) reported a 27 drop in quarterly profit on Wednesday as Canada's second-largest lender more than doubled its provisions for bad loans.
