MARKETS / FINANCE

U.S. trucking giant YRC Worldwide said on Thursday it averted bankruptcy by successfully negotiating a critical debt-for-equity exchange that wipes out $470 million in debt and gives the struggling company access to needed credit as it restructures.

New York City business activity expanded in December for the fifth consecutive month, though at a slower rate than November, while a gauge of business optimism was at its highest in more than three years, according to an industry report on Thursday.

Wall Street was poised to open modestly higher on Thursday after data showed the number of people filing for jobless benefits fell last week, while stocks eyed their best yearly gains since 2003.

The number of workers filing new applications for jobless benefits fell last week to the lowest level in about 17 months, according to U.S. government data on Thursday.

Stock index futures edged higher on Thursday as investors awaited data on the health of the hobbled labor market, which poses a potential hurdle for the nascent economic recovery.

The dollar fell broadly on Thursday on year-end position adjustment in thin, illiquid trade which prompted exaggerated price movements.

World stocks headed toward their best annual performance on record on Thursday, albeit a year after suffering their worst.

S&P 500 index futures edged higher on Thursday as investors awaited data on the health of the hobbled labor market, which poses a potential hurdle for the nascent economic recovery.

Oil rose toward $80 on Thursday, poised for the biggest annual climb in a decade, a year after posting huge losses as the global economic crisis sapped demand.

U.S. stock index futures pointed to a higher open on Wall Street on Thursday for the last trading session of the year, with futures for the S&P 500 up 0.2 percent, Dow Jones futures up 0.2 percent and Nasdaq 100 futures up 0.1 percent at 3.48 a.m. ET.

Asia stocks rose on Thursday, racking up a 68 percent gain for the year, as a jump in U.S. consumer confidence reinforced views that the world's largest economy is gradually recovering.

The Development Bank of Japan (DBJ) has agreed to increase the amount of its unsecured loans to Japan Airlines from 100 billion yen ($1.08 billion) at present, Jiji news agency reported on Thursday.

Is it advisable for a gold price of $ 1100 per ounce to buy? There would have been certainly better times in order of the timing. In the past the rising inflation pushed the gold price always upwards. National rescue programs for the global economy cost huge amounts and are financed on credit. The United States and Great Britain have already begun, to finance the new government debts by printing new money.

U.S. health officials proposed standards for electronic medical records on Wednesday, seeking to spur the technology in hopes of cutting health costs and reducing medical errors.

The U.S. average price for regular gasoline increased two cents to $2.61 per gallon, $0.99 higher than the price a year ago. With the exception of the Rocky Mountains, prices rose in all regions of the country. The price on the East Coast inched up about a penny to $2.60 per gallon. The largest increase occurred in the Midwest, where the price rose more than three cents to $2.56 per gallon. On the Gulf Coast, the average grew over two cents to $2.47 per gallon. In the Rocky Mountains, the averag...

A top executive at American International Group Inc has resigned because of pay curbs imposed by the Obama Administration's pay czar, the insurer announced on Wednesday.

U.S. stocks ended a smidgen higher in very light trading on Wednesday as a stronger-than-expected report on Midwest U.S. business activity was offset by investors taking profits in some of the year's better performers.

Mortgage firms Fannie Mae and Freddie Mac face a unique set of problems that distinguish them from other firms receiving government aid when it comes to setting executive pay, the Obama administration's pay czar said on Wednesday.

The key informant in the U.S. tax fraud case against Swiss bank UBS AG says he does not deserve the federal prison term he is due to start serving next month, according to an interview to be broadcast on Sunday.

The U.S. dollar firmed across the board on Wednesday and stocks eked out slight gains, adding to this year's big rally, after much better-than-expected business activity in the U.S. Midwest bolstered hopes of recovery.

The Australian Dollar spent the majority of local trade yesterday above the 89 cent mark before a brief bout of profit taking late Sydney time took the Aussie down towards the low 89's.

Oil rose on Wednesday for a sixth day as a mix of cold weather and declining U.S. crude and fuel inventories lifted prices to near $80, all but ensuring this year's gain will be the best in a decade for crude.

New York City's Times Square was closed briefly and three buildings including the Nasdaq headquarters were evacuated in a security scare on Wednesday, a day before the traditional New Year's Eve festivities in the famed intersection.

Affluent investors turned bearish in December as their attention moved from the economy to concerns over health reform and fears the wealthy may be asked to pay more taxes.

The path toward rolling out wider use of whole-body security scanners in U.S. airports runs through the White House.

Stocks edged lower on Wednesday as investors took profits in some of the year's better performers, offsetting a much better-than-expected report on Midwest business activity.

GMAC Financial Services is expected to get about $3.5 billion of additional U.S. government aid to help the troubled lender absorb mortgage losses, a financial industry source familiar with the matter said on Wednesday.

New York City's Times Square was closed briefly and three nearby buildings, including the Nasdaq stock exchange, were evacuated in a security scare on Wednesday, police said, a day before the traditional New Year's Eve festivities in the famed intersection.

The day after Christmas was the second-biggest shopping day during the U.S. holiday season, with $7.9 billion spent, even though traffic in stores fell 6.6 percent from a year ago, ShopperTrak said on Wednesday.