GMAC Inc on Wednesday launched a new government-backed bond sale ahead of a regulatory deadline next month that will test the company's capital levels and ability to absorb losses.
U.S. stocks fell further on Wednesday and the S&P 500 briefly fell 2 percent, after disappointing new home sales data sparked worries about the strength of the economic recovery, prompting a sell-off.
Yahoo Inc said it has fixed various shortcomings that have plagued the Internet company in recent years and touted its large online audience and ties to advertisers as keys to its comeback.
Microsoft Corp is viewed as the most likely buyer or partner for IAC/InterActiveCorp's Ask.com if CEO Barry Diller decides to throw in the towel on the struggling search engine.
Some of the nation's largest companies pushed back against U.S. Democrats' plans to deliver a government-run insurance option in a healthcare overhaul, decrying it as a step backward that would drive up costs for employers and their workers.
U.S. stocks hit session lows on Wednesday and the Dow industrials briefly fell 1 percent after disappointing new home sales data sparked worries about the economic recovery.
The Obama administration's pay czar said on Wednesday that renegotiating guaranteed bonus contracts at American International Group's AIG Financial Products unit was a top priority for him in 2010.
A former client of UBS AG who cooperated in a U.S. probe of the Swiss bank's ties with wealthy Americans hiding money overseas was sentenced to one year house arrest and a fine on Wednesday for a multimillion-dollar tax evasion scheme.
Renegotiating bonuses to American International Group employees is a top priority, the Obama administration's pay czar said on Wednesday, adding he believes he can do so without losing key employees.
Renegotiating bonuses to American International Group employees is a top priority, the Obama administration's pay czar said on Wednesday, adding he believes he can do so without losing key employees.
The benchmark S&P 500 index fell for a fourth straight day on Wednesday after disappointing housing data and a lower forecast for third-quarter U.S. growth by Goldman Sachs.
More U.S. manufacturers are optimistic about the economy, but poor demand remains a top concern, according to a survey.
Sales of new U.S. homes unexpectedly tumbled in September, their first drop in six months, underscoring the hazards to an economic recovery even as businesses appeared to be stepping up investment.
Calpers, the nation's largest public pension fund, does not face moral hazard despite state guarantees of pension solvency, the funds chief investment officer said on CNBC on Wednesday, in comments responding to a Reuters report.
Insider traders may have taken the greed-is-good mantra to heart, but it's not the only thing that motivates them.
The Obama administration's pay czar said on Wednesday that renegotiating guaranteed bonus contracts at American International Group's AIG Financial Products unit was a top priority for him in 2010.
U.S. stocks slipped on Wednesday as investors fretted about a lack of catalysts that would extend the current seven-month rally, especially after disappointing September new home sales data.
Correcting annual rate of September home sales in second paragraph
Sales of new U.S. homes unexpectedly tumbled in September, their first drop in six months, underscoring the hazards to an economic recovery that businesses appeared to be banking on.
Health insurer WellPoint Inc posted an 11 percent decline in third-quarter profit on Wednesday as layoffs among customers led to lower membership, but results crushed estimates on improvements in its business serving elderly and low-income Americans.
New orders for long-lasting U.S. manufactured goods rose 1 percent in September, meeting Wall Street expectations, Commerce Department data showed on Wednesday.
U.S. stocks fell on Wednesday after September new home sales unexpectedly tumbled and analysts said there was little in the way of catalysts to further fuel the market's seven-month rally.
Sales of newly built U.S. single-family homes unexpectedly tumbled 3.6 percent in September in their first drop since March, but the inventory of new homes available at the end of the month shrank to the smallest in 27 years, government data showed on Wednesday.
The Nasdaq and the S&P 500 indexes extended losses on Wednesday after data showed a surprise drop in September new homes sales, the latest sign the economic recovery may be slower than hoped.
Canadian Finance Minister Jim Flaherty said on Wednesday he agreed with the Bank of Canada that intervention was a limited tool when it came to trying to drive down the value of the Canadian dollar.
The Treasury Department is in talks with GMAC Financial Services Inc about a possible third cash infusion to the company, an Obama administration official confirmed on Tuesday night.
American Airlines parent AMR Corp will eliminate up to 700 jobs as it downsizes its maintenance and engineering operations, the company said on Wednesday in a letter to employees.
West African regional bloc ECOWAS has agreed to lend Niger 5 billion CFA francs ($11.33 million) to help fund a road project, state media said late on Tuesday, a week after the organisation suspended Niger over flawed polls.
Ford Motor Co chose China's Geely as preferred bidder for Volvo Cars while Magna said it still hoped to clinch a deal to buy a majority stake in Opel from GM after a board meeting on November 3
New orders for long-lasting U.S. manufactured goods rose 1 percent in September, Commerce Department data showed on Wednesday, suggesting that the economy's wobbling recovery from recession may be steadying.
