Wall Street was poised for a lower open on Wednesday, taking a cue from a decline in global markets, as investors found little reason to propel stocks higher as the market's solid year draws to a close.
Wall Street's efforts to quell public outrage over its pay practices could in fact be setting up its top executives, bankers, and traders for even bigger payouts down the road, which in turn could reignite the outcry.
Stock index futures fell on Wednesday, taking a cue from a decline in global markets, as investors found little reason to propel stocks higher as the market's solid year draws to a close.
Oil held near $79 on Wednesday as cold weather in the United States and an expected fall in both U.S. crude and distillate stocks including heating oil countered a firmer dollar, shoring up prices after a five-day rally.
Target Co said it was among the victims of computer hacker Albert Gonzalez, mastermind of the biggest identity theft in U.S. history.
When it comes to blockbuster product introductions, Apple is king. So it's not surprising that Google, which is looking to challenge Apple's iPhone dominance, is stealing a page from the Steve Jobs & Co. playbook.
China will make it easier for foreign investors to start businesses in the country, especially in its western provinces, the government said in a statement on Wednesday.
GMAC Financial Services is close to getting about $3.5 billion in added aid from the U.S. government, on top of the $12.5 billion already received since December 2008, the Wall Street Journal reported.
U.S. stock index futures pointed to a lower open on Wall Street on Wednesday, with futures for the S&P 500 down 0.2 percent, Dow Jones futures down 0.1 percent and Nasdaq 100 futures down 0.1 percent at 4.30 a.m. ET.
Japan's government said it aimed for economic growth of more than 2 percent over the next decade, but its long-term plan unveiled on Wednesday lacked detail needed to convince investors the goal is realistic.
Asian share markets fell on Wednesday as year-end trade dwindled, with profit-taking pulling down shares and bankruptcy worries about Japan Airlines weighing on the Nikkei, while the dollar rose broadly.
As 2009 draws to a close and the Organization of the Petroleum Exporting Countries (OPEC) prepares to meet again at the end of the month, it faces a global oil market that has firmed up in response to production cuts that began to take effect in January 2009.
Global oil prices remained below $79 a barrel mark in Asian trade Wednesday mainly on increase in US crude inventory amid a strong dollar. Light sweet crude for February delivery was seen trading at $78.78 a barrel at 12.00 noon Singapore time while Brent crude was at $77.61 a barrel at the same time.
Gold dropped further in Asian trade Wednesday as the dollar continued to trade higher against its major rivals that curbed bullion's appeal as an alternative asset. Spot gold was seen trading at $1092.64 an ounce at 11.30 a.m Singapore time while gold for February delivery in New York was at $1,093.35 an ounce at the same time.
Aluminium demand in China is expected to grow by 15% in 2010 on the back of revival in construction and auto segments. According to reports, long term prospect of aluminium is bright as China is still in the middle of completing urbanization and its metal intensive growth is likely to continue for many years to come. It added that about 65% of aluminium consumption is in the east and middle south China. The urbanization of North West and south west has great potential for aluminium demand.
Japan's government unveiled a growth strategy for the next 10 years on Wednesday, including creating new demand and jobs in areas such as the environment and health to boost the economy's growth rate. The government plans to finalise the strategy in June next year by nailing down details such as how to finance measures in the strategy and when to implement proposed policies.
In China's latest bid to acquire resource assets abroad, two Chinese firms have offered $650 million for Canadian miner Corriente Resources Ltd. China Railway Construction Corp and Tongling Nonferrous Metals Group Holdings Co announced the all-cash $650 million offer this week.
The year of the Ponzi scheme will be followed by heightened regulation and more aggressive prosecutions, experts say, as U.S. officials respond to past failures.
Overstock.com Inc said on Tuesday it retained KPMG as auditor, six weeks after firing predecessor Grant Thornton and taking the unusual step of filing an unreviewed quarterly report with U.S. regulators.
Florida's Miami-Dade County will start using the Internet next month in a bid to help auction off tens of thousands of delinquent properties that have put it on the frontlines of the U.S. foreclosure crisis.
Broadcom Corp said on Tuesday it will pay $160.5 million in cash to resolve an investor lawsuit accusing it of improperly backdating stock options but the California chip maker did not admit to wrongdoing.
The Australian Dollar held above the 88 cents mark yesterday as news out of China indicated that economic forecasts would keep pace with expectations in 2010 and that it would maintain stimulus polices currently in place.
U.S. consumer confidence rose to a three-month high in December, while prices in the hard-hit housing sector stalled in October, breaking a five-month string of gains.
U.S. stocks edged lower in a low-volume session on Tuesday, breaking a six-day string of gains as investors found little reason to push stocks higher as the year's end approached.
The administrator for Lehman Brothers International said on Tuesday that nearly all clients whose assets have been frozen since the investment bank's collapse support a plan to return the money early next year.
General Motors Co , which is winding down its Pontiac and Saturn brands, has offered dealers $7,000 per car to clear remaining inventory through Monday, the company said on Tuesday.
Stocks treaded water on Tuesday in a low-volume session after data showed a rise in consumer confidence, but a housing report pointed to more bumps in the road.
The Harbinger Capital Partners hedge fund has failed to win dismissal of a lawsuit accusing it of receiving accurate tips about a rival bid for an appliance company it eventually bought and amassing a big stake before merger talks became public, court papers show.
As troubled U.S. trucker YRC Worldwide fights to stay afloat, investors scooped up stocks in its rivals on Tuesday in anticipation of a bankruptcy.
Oil prices steadied near $79 a barrel on Tuesday as the market weighed gains in the dollar against strong U.S. consumer confidence data and colder weather in top consumer the United States.
