U.S. stocks were set to open higher on Monday after influential bank analyst Meredith Whitney upgraded Goldman Sachs Group shares and gave bullish comments on financial stocks, sparking hopes corporate quarterly results may be surprisingly strong.
Stock futures climbed to session highs on Monday as shares of major U.S. banks advanced following positive comments from influential analyst Meredith Whitney on CNBC television.
The global economic downturn is far from over, and few countries have dismantled the dangerous protectionist barriers they imposed in response to it, World Trade Organization Director-General Pascal Lamy said on Monday.
Financial difficulties at commercial lender CIT Group Inc could hurt small businesses that depend on credit to fund their growth and operations, though many of CIT's units serve an important function and are unlikely to disappear if the company restructures in bankruptcy court.
Stock futures were little changed on Monday as caution over the latest earnings season weighed and CIT Group Inc grappled with shoring up its finances, offsetting a broker upgrade of Goldman Sachs
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Hopes rose that Swiss bank UBS can finally move on from a damaging U.S. tax row, after a request for a delay to a high-profile trial scheduled for later on Monday brought a settlement nearer.
Treasury Secretary Timothy Geithner will seek to reassure Gulf Arab states this week that U.S. dollar assets they hold in large quantities remain a strong investment.
Oil prices slipped below $60 a barrel on Monday, heading toward a seven-week low on concerns over the state of the global economy as stock markets slid.
U.S. stock index futures pointed to a lower open on Wall Street on Monday, as investors fretted about the outlook for company profit despite global conglomerate Philips's upbeat earnings and comments.
Oil prices fell more than $1 to below $59 a barrel on Monday, slipping toward a seven-week low on concerns about the state of the global economy as equities markets tumbled.
World stocks fell on Monday, with particularly heavy losses in emerging markets, as investors fretted about a coming wave of corporate earnings and confidence in a rapid global economic recovery faded.
Oil prices fell more than $1 to below $59 a barrel on Monday, slipping to a seven-week low on concerns about the state of the global economy as equities markets tumbled.
Oil prices fell $1 to below $59 a barrel on Monday, extending last week's losses to languish at a seven-week low, as lingering concerns about the pace of a global economic recovery encouraged a further sell-off.
Bank of America Corp is trying to avoid paying billions of dollars in fees to U.S. taxpayers for guarantees against losses at Merrill Lynch, saying the rescue agreement was never signed and the funding never used, Bloomberg reported citing people familiar with the matter.
CIT Group Inc officials are scrambling to come up with a plan to convince customers and investors the commercial U.S. lender can work its way out of a deepening liquidity crunch, The Wall Street Journal reported on Sunday.
Oil prices fell below $60 a barrel on Monday, extending last week's losses to languish at a seven-week low, as lingering concerns about the pace of a global economic recovery encouraged a further sell-off.
Japan's Nikkei fell for a ninth straight day on Monday as concerns about company earnings outlooks weighed on Asian stocks, while oil languished near a six-week low as faith in a rapid economic recovery faded.
Oil prices steadied at just above $60 a barrel on Monday, pausing from last week's losses, amid growing concerns about the pace of a global economic recovery and its impact on world energy demand.
The U.S. government and UBS AG asked a federal judge on Sunday to delay the start of a closely-watched trial, as they seek to resolve their dispute over U.S. demands for the identities of thousands of wealthy Americans suspected of using the Swiss bank to dodge taxes.
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The U.S. government and UBS AG asked a federal judge on Sunday to delay the start of a closely-watched trial, as they seek to resolve their dispute over U.S. demands for the identities of thousands of wealthy Americans suspected of using the Swiss bank to dodge taxes.
The U.S. government and UBS AG asked a federal judge on Sunday to delay the opening of a closely-watched trial, as they seek to resolve their dispute over U.S. demands for the identities of thousands of wealthy Americans suspected of using the Swiss bank to dodge taxes.
U.S. Treasury Secretary Timothy Geithner said it was too soon to decide whether the U.S. economy would need the help of a second round of government stimulus to recover from recession.
President Barack Obama said Saturday more time was needed for his $787 billion stimulus package to work, predicting the spending would have a bigger impact on the economy later this year.
The tax-evasion case first gained notoriety in June last year, when it was revealed that a former UBS AG banker once smuggled a client's diamonds into the United States in a toothpaste tube to avoid detection by U.S. authorities.
President Barack Obama in a response to criticism that his administration's $787 billion stimulus bill has failed to help pull the economy out of the recession said the Recovery Act has worked as intended.
Under normal circumstances, Goldman Sachs Group Inc might be afforded a moment of gloating as it struts toward what could be a banner earnings announcement just nine months after being roiled by Wall Street's worse crisis since the Great Depression.
A former lawyer was found guilty on Friday of a broad conspiracy in the fraud that caused the 2005 collapse of commodities broker Refco Finance Holdings LLC in a partial verdict by a jury whose deliberations became heated this week.
The Obama administration wants to give the U.S. Securities and Exchange Commission broad powers to identify and ban compensation practices at investment brokers and advisers that interfere with their fiduciary duties to clients.
The biggest U.S. banks, including Wells Fargo & Co. and Bank of America Corp., JP Morgan Chase and Citibank announced plans to stop exchanging the registered warrants for cash after Friday.
