Allstate Corp , the largest publicly traded U.S. home and auto insurer, swung to a profit on Wednesday from a year ago loss, helped by lower catastrophe and investment losses.
US TREASURIES weakened for a third session as the FOMC announcement continued support the near zero interest rate policy it has maintained to support economic recovery.
News Corp reported a higher-than-expected quarterly profit as gains at its Fox cable network and film divisions, plus cost cuts, helped offset declines at its television stations and newspapers.
China Unicom, the country's No.2 mobile carrier, said on Tuesday that it had already signed up more than 1 million 3G subscribers, but analysts said that handset subsidies and marketing costs could weigh on profit margins.
U.S. stocks rallied but lost steamon Wednesday after the Federal Reserve said it would keep rates near zero for an extended period even as it expressed confidence in the economic recovery.
Smith Micro Software Inc posted a quarterly profit that beat analysts' estimates by a penny, but revenue missed, hurt by a tough economic environment, and the company cut its full-year revenue view, sending its shares down 20 percent.
United Online Inc, which provides consumer products and services over the internet, posted a better-than-expected quarterly profit, helped by strong demand at its FTD segment.
The Australian Dollar opens higher today at 0.9120 against the greenback. As expected, the US Federal Reserve left interest rates unchanged at the current setting of zero to 0.25 per cent. The Aussie moved to an offshore high at time of writing of 0.9143. During the domestic session on Wednesday, the unit slid down to 0.8970 as retail trade fell 0.2 per cent in September. The disappointing number does not support the case for a third consecutive hike in interest rates by the Reserve Bank of Aust...
U.S. clean energy legislation could help create 850,000 manufacturing jobs around the country, a report from a group representing business and environmental interests said on Wednesday.
U.S. stocks mostly eked out a gain on Wednesday, giving back a big slice of the day's advance after the Federal Reserve reiterated its intent to keep rates low, but gave investors few new reasons to boost holdings.
Comcast Corp's quarterly profit rose a better-than-expected 22 percent, as it sold more phone and Internet subscriptions, helping to fight competition from phone and satellite companies.
News Corp reported lower revenue on Wednesday because of advertising declines at its television stations and newspapers, while profit rose because of stronger performance at its cable television, movie and book units as well as cost cuts.
The U.S. services sector grew modestly for a second month in a row in October and private sector employers cut jobs at the slowest pace in more than a year, adding to signs the economy is crawling back to health.
U.S. stocks briefly touched session highs on Wednesday after the Federal Reserve said it would keep borrowing costs near zero for an extended period even though it expressed confidence the U.S. economic recovery was gaining momentum.
The top U.S. securities regulator on Wednesday called on Corporate America to modernize its proxy voting practices to give shareholders a greater voice in governing the companies they own.
The Energy Information Administration's (EIA) U.S. Crude Oil, Natural Gas, and Natural Gas Liquids Proved Reserves, 2008 reports that proved reserves of crude oil fell by more than 10 percent in 2008, primarily because of low end-of-year prices used to estimate proved reserves, even though discoveries of crude oil rose for the third year in a row. In contrast, proved reserves of natural gas rose by 3 percent in 2008, despite low end-of-year prices.
The chairman of the U.S. House Financial Services Committee is seeking changes to draft legislation for the $450 trillion privately-traded derivatives markets, with the intent of making it harder for banks to avoid trading the contracts on exchanges.
Stocks resumed their climb back toward session highs on Wednesday after the Federal Reserve held its stance to keep borrowing costs near zero for an extended period even though it expressed confidence the U.S. economic recovery was gaining steam.
Intel Corp was sued on Wednesday by New York Attorney General Andrew Cuomo, who accused the world's largest chipmaker of scheming to maintain monopoly power in the market for microprocessors.
The Fed's monetary policy arm on Wednesday said it saw economic activity continuing to rise, noting a better housing sector, household spending.
Microsoft Corp said on Wednesday it is cutting a further 800 jobs across its operations, on top of 5,000 jobs already eliminated under a plan to reduce costs that was announced in January.
U.S. stocks climbed on Wednesday on positive data about the services sector and employment, while investors awaited the Fed's assessment of the economic recovery.
If you're looking for ground zero in America's longest and deepest recession, El Centro in southern California appears on first glance to fit the bill.
Intel Corp was sued on Wednesday by New York Attorney General Andrew Cuomo, who accused the world's largest chipmaker of scheming to maintain worldwide monopoly power in the market for microprocessors.
Automatic Data Processing Inc posted higher-than-expected quarterly earnings on Wednesday as the world's largest payroll processing company cut costs to offset lower sales.
Intel Corp was sued on Wednesday by New York Attorney General Andrew Cuomo, who accused the world's largest chipmaker of scheming to maintain worldwide monopoly power in the market for microprocessors.
Finance chiefs from the Group of 20 will discuss eventually unwinding emergency economic stimulus packages introduced over the last year, U.S. Deputy Treasury Secretary Neal Wolin said on Wednesday.
The dollar slipped against most major currencies on Wednesday as a rally in stocks and commodities eroded the greenback's safe-haven appeal and investors awaited a policy decision from the Federal Reserve.
Former Hewlett-Packard Co chief and Silicon Valley star Carly Fiorina said on Wednesday that she would run as a Republican candidate for the U.S. Senate from California, taking on liberal Democrat Barbara Boxer.
Stocks jumped on Wednesday, with the Dow and S&P 500 up more than 1 percent, on positive data about the services sector and employment as investors awaited the Fed's assessment of the economic recovery.
