Legislation that would add $2 billion to a cash-for-clunkers program aimed at spurring U.S. automobile sales could move quickly through the U.S. Congress, Michigan Senator Debbie Stabenow said on Friday.
Stocks edged higher on Friday after the government reported the economy shrunk at a slower-than-expected pace in the second quarter, which investors took as a sign the recession is easing.
Chevron Corp reported a 71 percent drop in second-quarter profit Friday as oil and gas prices fell from a year earlier and the economic slump shrank demand for fuel.
The U.S. economy contracted at a slower-than-expected pace in the second quarter as the slump in business and residential investment moderated sharply, according to government data on Friday that backed views the recession was winding down.
The U.S. economy barely grew during 2008, at about a third the rate previously thought, the Commerce Department said on Friday, largely because plunging home values undermined consumer spending.
Forest products company Weyerhaeuser Co on Friday posted a wider second-quarter loss, hurt by weak demand from the construction industry, but results topped Wall Street expectations.
U.S. stocks edged higher on Friday, helped by an improving outlook for business activity in the U.S. Midwest in July.
The U.S. economy probably contracted again in the second quarter, pressured by a huge inventory liquidation, but the pace of decline likely slowed from previous periods, according to a Reuters survey.
The United States and UBS AG have reached an agreement in principle to settle their dispute over U.S. demands for the names of thousands of wealthy Americans suspected of using the Swiss bank to evade taxes, a U.S. Justice Department attorney said on Friday.
U.S. Secretary of State Hillary Clinton said on Friday there had been an agreement in principle with Switzerland over a tax case involving Swiss bank UBS .
The recession has delivered a disproportionate blow to blacks and Hispanics, yet minorities may be more optimistic about the economy than most Americans and many feel they have earned a place at the corporate table.
U.S. employment costs rose by a bigger-than-expected 0.4 percent in the second quarter, as the deep recession and high unemployment held back worker pay and benefits, a Labor Department report showed on Friday.
California's new budget deal may brake the recent decline in the state's rating but the one-time nature of many of the measures taken to close a $24 billion deficit leave the state in bad shape, Moody's Investors Service said on Thursday.
Stocks headed for a lower open on Friday after data showed the U.S. economy contracted for the fourth straight quarter and consumer spending dropped sharply, fanned fears that a recovery would be weak.
The Aussie experienced a stunning turnaround in Asia yesterday rallying consistently throughout the day from 0.8140 to enter offshore exchange back above 82 cents. The local housing market continues to prove resilient as building approvals and housing finance data both came in higher than expected.
The United States government and Swiss bank UBS AG have reached an agreement in principle on the major issues in their tax evasion dispute, a U.S. Justice Department attorney said on Friday.
The U.S. economy contracted at a slower-than-expected pace in the second quarter as the slump in business and residential investment moderated sharply, according to government data on Friday that backed views the recession was winding down.
Stock index futures edged higher on Friday as investors bet that key economic data will show the economic slump is ebbing.
Stock index futures edged higher on Friday as investors bet that key economic data will show the economic slump is ebbing.
Conditions in the U.S. construction industry have improved since President Barack Obama signed the economic stimulus plan into law in February, but employment in the battered sector needs more help, an industry trade group said on Thursday.
World stocks rallied to fresh 9-1/2 month peaks on Friday as favorable corporate earnings fueled recovery hopes, while European government bonds also rose as investors grew cautious ahead of key U.S. growth data.
Stock index futures pointed to a higher open for U.S. shares on Friday as investors awaited U.S. GDP figures and earnings from companies such as Chevron and Allergan.
Asian stocks pushed higher on Friday and were poised to score double-digit gains in July as investors keep pouring funds on bets the region's growth engine will lead the global economy out of recession.
Bonuses paid to executives at nine banks that received U.S. government bailout money in 2008 were greater than net income at some of the banks, the office of New York Attorney General Andrew Cuomo said on Thursday.
U.S. federal regulators have raised the number of struggling banks which they have essentially put on probation, forcing them to fix their problems to avoid potential failures, the Wall Street Journal said.
Oil extended gains well above $67 a barrel on Friday, after a 5.7 percent jump in the previous session on U.S. data and earnings which renewed hopes of an economic recovery and drove up equity and commodities markets.
Asian stocks pushed higher on Friday and were poised to score double-digit gains in July as investors keep pouring funds on bets the region's growth engine will lead the global economy out of recession.
No. 1 U.S. trucking company YRC Worldwide Inc on Thursday reported a large loss due to plunging revenue and hefty charges, and said it was hard to say if the economy has hit bottom, sending its stock down 14 percent.
Researchers have discovered a flaw within Apple's iPhone SMS feature , an exploit that could infect every iPhone through Short Message Service (SMS), or text messaging.
Apple Inc on Thursday said it began shipping an updated Time Capsule equipped with 2TB SATA storage.
