Wall Street opened lower on Tuesday pressured by negative corporate news, a stronger U.S. dollar and a drop in commodity prices.
Brazil's currency, the real (BRBY), weakened 1.3 percent to 1.751 per the dollar. The greenback, considered a safe-haven currency in times of turmoil, strengthened against a basket of major currencies .DXY.
The Bank of Canada held its key interest rate on Tuesday at 0.25 percent, as expected, and maintained its outlook on the economic recovery despite unexpectedly weak third-quarter growth.
Bank of America Corp's Chief Risk Officer Greg Curl is under scrutiny by New York attorney general Andrew Cuomo's office in connection with the probe of the bank's merger with Merrill Lynch, the New York Times reported.
Wells Fargo & Co , one of the few major banks that has yet to return bailout funds to the U.S. government, still plans to return its $25 billion as soon as practical, but Chief Executive John Stumpf at a conference on Tuesday did not give any more details.
Wall Street was set to open lower on Tuesday after 3M Co's outlook for the current year came in below analysts' forecast and McDonald's Corp reported a second straight month of declines in domestic sales.
Fitch Ratings cut Greece's debt rating to BBB+ from A- with a negative outlook, the first time in 10 years a major ratings agency has put Greece below an A grade, citing fiscal deterioration in the euro zone's weakest member.
The Emergency Economic Stabilization Act of 2008 created the $700 billion bailout (plus $100 billion in add-ons) Troubled Assets Relief Program (TARP), a wealth transfer scheme so brazen as to leave one breathless. Another Fed bubble had popped; losses in the real estate mortgage meltdown were real; they had already taken place. The only real question was who would be made to eat those losses: the investment banking community that earned millions in fees each year in the debacle and their offspr...
Wells Fargo (WFC) CEO John Stumpf said on Tuesday that he expects to see opportunities for growth auto, commercial and small business loans next year.
Stock index futures pointed to a lower open on Tuesday as declining oil prices pressured energy shares and 3M Co's outlook for the current year came in below analysts' forecast.
President Barack Obama, battling a public outcry over double-digit U.S. unemployment, on Tuesday will lay out several new steps to boost jobs and confront a challenge that has hurt his popularity.
Six months is not enough time to restructure indebted state-controlled conglomerate Dubai World, the emirate's finance chief said on Tuesday, adding that it had enough assets to meet its obligations.
FedEx Corp said on Monday that its second-quarter earnings would easily beat its previous forecast, citing strong growth in international demand for its air services, especially in Asia and Latin America, and its shares rose more than 3 percent.
Stock index futures were lower on Tuesday after cautious comments from Federal Reserve Chairman Ben Bernanke sparked jitters about the pace of economic recovery.
Stock index futures pointed to a mixed open on Wall Street on Tuesday, with futures for the S&P 500 up 0.21 percent, Dow Jones futures down 0.07 percent and Nasdaq 100 futures down 0.13 percent at 4:33 a.m. EST.
State-controlled Dubai World is discussing a new date with banks for $3.5 billion in debt falling due on December 14, but with no deal yet announced, spooked investors sold Dubai shares down to 21-week lows.
Japan's government agreed on a $81 billion stimulus package on Tuesday, aimed at preventing the economy from tipping back into recession as deflation persists and a strong yen threatens exports.
Japan's government agreed on a $81 billion stimulus package on Tuesday, aimed at preventing the economy from tipping back into recession as deflation persists and a strong yen threatens exports.
Japan's government agreed on a $81 billion stimulus package on Tuesday, aimed at preventing the economy from tipping back into recession as deflation persists and a strong yen threatens exports.
Global share markets were becalmed on Tuesday and the dollar struggled after Federal Reserve Chairman Ben Bernanke gave a cautious assessment of the world's biggest economy, driving investors toward government debt.
James Gorman, who takes over as Morgan Stanley's chief executive on January 1, plans to put finance chief Colm Kelleher and banker Paul Taubman in charge of the company's institutional securities unit, the Wall Street Journal reported citing a person familiar with the situation.
Kenneth Feinberg, the Obama administration's pay czar, will exempt some executives at American International Group from a $500,000 salary cap after at least five employees threatened to quit, Bloomberg reported citing people familiar with the matter.
A forward-looking measure of hiring intentions improved in the United States and most other countries, suggesting job growth may resume in the first quarter, according to a quarterly survey by Manpower Inc .
Federal Reserve Chairman Ben Bernanke on Monday said the U.S. economy's recovery remained fragile and unemployment may be high for some time, cooling anticipation of an early increase in U.S. interest rates.
EBay Inc's former chief executive, Meg Whitman, took the witness stand on Monday to make the case online classifieds site Craigslist unfairly cut eBay's stake in the company.
A group of international and regional banks met Dubai World for the first time on Monday as talks began on the company's efforts to restructure $26 billion of debt, the Financial Times reported on Monday.
The S&P 500 and Nasdaq ended slightly lower on Monday and the Dow was flat, reversing earlier gains, after comments by Federal Reserve Chairman Ben Bernanke sparked jitters about the economic recovery.
Eight people charged in a coast-to-coast U.S. hedge fund insider trading investigation have at least one more month for possible resolution of their criminal cases, according to court records on Monday.
FedEx Corp said on Monday that its second-quarter earnings would easily beat its previous forecast, citing strong growth in international demand for its air services, especially in Asia and Latin America, and its shares rose more than 3 percent.
The U.S. Securities and Exchange Commission will likely seek public input on so-called high-frequency trading strategies, and whether traders using them gain any special advantages by placing fast computers next to exchanges.
