U.S. President Barack Obama on Tuesday nudged Chinese President Hu Jintao to allow the yuan currency to appreciate at a landmark summit in Beijing.
The imperative of greater global currency stability means the world can no longer rely, as it has done since the end of the gold standard, on a currency issued by a single country, the head of the IMF said on Tuesday.
U.S. stock index futures pointed to a slightly lower opening on Wall Street on Tuesday, with futures for the S&P 500 down 0.27 percent, Dow Jones futures down 0.18 percent and Nasdaq 100 futures down 0.25 percent.
World stocks slipped on Tuesday from the previous day's 2009 high and oil and gold fell as investors locked in gains from a strong rally, while the dollar edged higher from its 15-month lows.
Lehman Brothers Holdings Inc has filed a lawsuit against Barclays Capital Inc alleging the British bank took control of excess assets in collusion with Lehman executives when it bought its U.S. brokerage business a year ago, court documents show.
Asian stocks surrendered early gains on Tuesday as investors took profits from recent gains, while the dollar was pinned near 15-month lows after Federal Reserve Chairman Ben Bernanke repeated the central bank was likely to keep interest rates at very low levels for some time.
Asian stocks surrendered early gains on Tuesday as investors took profits from recent gains, while the dollar was pinned near 15-month lows after Federal Reserve Chairman Ben Bernanke repeated the central bank was likely to keep interest rates at very low levels for some time.
China's appliance and top TV maker TCL and Shenchao announced a joint venture that plans to invest a total 24.5 billion yuan ($3.6 billion) to set up an LCD production line using advanced 8.5-generation technology to tap future demand for flat-screen TVs.
Japan's Sanyo Electric Co Ltd said on Tuesday it plans to more than quadruple its solar cell production capacity to 1,500 megawatts by 2015 to become one of the world's top three solar cell makers.
Billionaire investor George Soros' hedge fund reported holdings of $6.2 billion during the third quarter, an increase of $2 billion, after taking a stake in automaker Ford and boosting his holdings in communications services stocks.
The Federal Reserve Bank of New York used a weak negotiating strategy that failed to wring concessions from AIG trading partners last year, allowing them to reap nearly $30 billion in payments from U.S. taxpayers, a government audit report said on Monday.
Asian stocks rose to more than 15-month highs on Tuesday after Federal Reserve Chairman Ben Bernanke repeated the central bank was likely to keep interest rates at very low levels for some time, keeping the dollar pinned near 15-month lows and gold close to record highs.
The Federal Reserve Bank of New York used a weak negotiating strategy that failed to wring concessions from AIG trading partners last year, allowing them to reap nearly $30 billion in payments from U.S. taxpayers, a government audit report said on Monday.
Some of the world's largest financial firms on Monday urged a top U.S. lawmaker not to pursue big bank break-up legislation, an idea attracting interest in Congress and causing alarm on Wall Street.
Former Bank of America Corp general counsel Timothy Mayopoulos was stunned to be fired as the bank was trying to wrap up its purchase of Merrill Lynch & Co, after being promised the same job at the combined company.
Federal Reserve Chairman Ben Bernanke, in a rare comment on the U.S. dollar's value, on Monday acknowledged the currency's slump was causing some prices to rise, but said other factors restraining inflation were winning the day.
Billionaire Warren Buffett's Berkshire Hathaway Inc on Monday revealed new investments in Nestle AG and Exxon Mobil Corp and that it has nearly doubled its investment in Wal-Mart Stores Inc .
The Federal Reserve's low interest rate policy is meant to encourage investors to move into riskier assets in order to promote economic recovery, and there are no signs currently the policy is resulting in the build-up of a U.S. asset bubble, the central bank's number-two official said on Monday.
Sina Corp , China's largest Web portal, posted a decline in quarterly sales and profit but beat Wall Street estimates as a recovering economy boosted consumer spending and advertising sentiment.
CIT Group Inc , the large U.S. consumer finance company, on Monday posted a $1.07 billion loss for the third quarter, the last full three-month period prior to its Chapter 11 bankruptcy filing.
Sina Corp. on Monday posted its third quarter fiscal report, with profits declining from $18.9 million or $0.31 per share a year ago to $16.7 million or $0.29 per share.
Dell previously confirmed its plans to enter the smartphone business, and China Mobile and Claro in Brazil will be the second largest PC maker's first two supporting mobile operators to sell Dell Mini 3 smartphones, Sina Tech reported on Tuesday.
Former Bank of America Corp general counsel Timothy Mayopoulos said he was stunned to be fired as the bank was trying to wrap up its purchase of Merrill Lynch & Co, after being promised the same job at the combined company.
Microsoft is plugging social networks into Xbox 360 in an effort to bring more games, entertainment and social experiences all from a single device, the company said on Monday.
Former Bank of America Corp general counsel Timothy Mayopoulos said he was stunned to be fired as the bank was trying to wrap up its purchase of Merrill Lynch & Co, after being told he would become the combined company's new general counsel.
U.S. stocks rose broadly on Monday, sending indexes to fresh 13-month closing highs, after Federal Reserve Chairman Ben Bernanke reinforced expectations that interest rates would stay low to spur growth.
The semiconductor market is showing recovery in the midst of economic uncertainty, with global semiconductor revenue expected to bounce back to same level as 2008 at $255 billion despite an 11.4 percent decline in 2009 to $226 billion, Gartner said on Monday.
General Motors Co said on Monday it lost $1.2 billion in a bankruptcy-shortened third quarter, but it vowed a quick repayment of $8 billion owed to the United States and Canada.
The U.S. central bank is monitoring the declining value of the dollar closely as part of its commitment to both jobs growth and price stability, Federal Reserve Chairman Ben Bernanke said on Monday.
Intel Corp. said on Monday it has agreed with NEC to jointly develop High Performance Computing (HPC) system technologies, which will bring Intel Xeon processor to a wider supercomputing audience.
