Research In Motion posted a big jump in profit and issued an even stronger outlook on Thursday, as sturdy demand from holiday shoppers helped the BlackBerry maker fend off the competition.
Concerns over the surge in excess reserves in the U.S. banking system and its potential to fire up inflation are largely unwarranted, according to two New York Federal Reserve economists.
(Deletes incorrect references in paragraphs 1 and 4 to Barclays winning a larger role as a Kraft adviser, as Kraft has denied that has happened)
Barclays Capital, one of the banks providing $9.2 billion of loans to help fund Kraft Foods Inc's hostile bid for Britain's Cadbury Plc , has suspended coverage of Cadbury because of its role.
Stocks fell on Thursday as the dollar's rebound spurred a safe-haven trade, cutting demand for riskier assets, while a soft profit outlook from economic bellwether FedEx sank transportation shares.
Discover Financial Services , the sixth-largest U.S. credit card issuer, posted lower-than-expected quarterly earnings as bad loans grew and the value of transactions with its cards declined, sending its shares down more than 8 percent.
(Corrects that net income rose 12.5 percent, not 25 percent, last paragraph)
Factory activity in the U.S. mid-Atlantic region hit a 4-1/2-year high in December and a gauge of future economic conditions rose last month, adding to evidence of a pick-up in the pace of the economy's recovery.
U.S. stocks fell on Thursday as the dollar's rebound spurred a safe-haven trade, cutting demand for riskier assets, while a soft profit outlook from economic bellwether FedEx sank transportation shares.
Senator Chris Dodd on Wednesday said that while Federal Reserve Chief Ben Bernanke was 'not perfect' he still strongly supported his nomination to lead the U.S. central bank for four more years.
Citigroup Inc shares fell to their lowest level in four months on Thursday, a day after the bank's $20 billion stock and bond offering drew a cool reception on Wall Street and prompted the U.S. Treasury to delay plans to start selling off its Citi holdings.
The Obama administration released details on Thursday of a $2 billion program in grants and loans to help dramatically expand Americans' broadband Internet access and create tens of thousands of jobs.
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring back due to steady economic recovery, analysts and industry officials said.
Citigroup Inc shares fell sharply on Thursday, a day after the bank's $20 billion stock and bond offering drew a cool reception on Wall Street and prompted the U.S. Treasury to delay plans to start selling off its Citi holdings.
U.S. stocks fell on Thursday as the dollar's rebound quelled demand for risky assets, while a soft FedEx forecast hit transportation shares and a prominent analyst cut estimates for two major banks.
Former Federal Reserve Chairman Alan Greenspan on Thursday endorsed a proposed bipartisan commission to help make the tough calls needed to get the spiraling and record U.S. debt under control.
The number of U.S. workers filing new applications for jobless insurance unexpectedly rose last week, but a gauge of future economic activity increased for the eighth month in a row, pointing to a slow economic recovery where employment looms as the dominant concern.
Barclays Capital, one of the banks providing $9.2 billion of loans to help fund Kraft Foods Inc's hostile bid for Britain's Cadbury Plc , has won a bigger role as one of Kraft's financial advisers.
The Treasury will sell its stock in Citigroup to achieve the best possible price for the American public, the head of the government's financial bailout program said on Thursday.
Coca-Cola Enterprises Inc raised its profit outlook for 2009 and gave a 2010 forecast in line with analysts' expectations as it works on drawing consumers to its drinks despite the downturn.
(Corrects after Dubai government clarifies earlier statement which it says was meant to refer to government departments only, not to state-related entities)
Former Federal Reserve Chairman Alan Greenspan on Thursday backed a call for creation of a bipartisan commission to make the tough calls needed to cut the record federal deficit.
Trucking giant YRC Worldwide Inc said on Thursday it was changing the terms of a debt-for-equity exchange offer, including again extending the deadline for bondholder approval in a critical bid to stay afloat.
Factory activity accelerated rapidly in the U.S. Mid-Atlantic region in December, a survey showed on Thursday, hitting its highest in 4-1/2 years and assuaging some worries the industrial recovery is slowing.
U.S. stocks fell on Thursday as a rebound in the dollar dampened appetite for risk, while a FedEx forecast weighed on transportation shares and a prominent analyst cut estimates for two major banks, compounding losses for financials shares.
The Conference Board's gauge of future economic conditions rose in November, for its 8th straight monthly increase, boosted by improving financial conditions, employment and housing, the private research group said on Thursday.
For more stories on the Dubai crisisAs Dubai developers reassured the world their ambitious construction projects would go ahead, officials from the emirate were expected in New York to shore up confidence after a debt landslide threatened its top companies.
Everybody knows social media firms are growing like gangbusters. Facebook, for instance, recently surpassed 350 million users, 16 months after reaching 100 million users.
Rite Aid Corp posted a smaller-than-expected quarterly loss on Thursday, helped by pharmacy sales, and its shares rose 4.5 percent.
Sony Corp said it struck a deal with News Corp that will make The Wall Street Journal, MarketWatch, and the New York Post available on its electronic reader, the latest shot fired in an intensifying battle with Amazon.com Inc's popular Kindle device.
