Oil rebounded toward $61 a barrel on Thursday, correcting from a seven-week low hit on bearish oil data that outlined continued weak demand amid growing concerns about the pace of economic recovery.
CIT Group Inc , a commercial U.S. lender struggling to finance its business, is pressing U.S. regulators to allow it to issue government-backed bonds to allay concerns over its financial health, the Financial Times reported on its website late on Wednesday.
Japanese stocks fell on Thursday after the yen spiked to a five-month high against the dollar overnight, with investors seeking to trim riskier bets amid growing concerns about the health of the global economy.
Oil rebounded toward $61 a barrel on Thursday, correcting from a seven-week low hit on bearish oil data that outlined continued weak demand amid growing concerns about the pace of economic recovery.
Bank of America Corp and JPMorgan Chase & Co are switching some customers who have fixed-rate credit cards to potentially higher variable rates, acting before a new law takes effect that limits what card issuers can charge.
The U.S. Securities and Exchange Commission's top inspector, Lori Richards, is leaving the agency after a year in which her office and the enforcement division was accused of failing to spot Bernard Madoff's $65 billion fraud.
NetApp Inc.(NASDAQ: NTAP) and Data Domain Inc.(NASDAQ:DDUP) merger has ended in break-up after NetApp did not revise its proposal in the wake of EMC Corp.'s higher unsolicited offer.
A judge ordered the U.S. government to say whether it was prepared to shut Swiss bank UBS AG in the United States as part of a battle to learn the identity of 52,000 secret accounts suspected of being used by Americans to avoid taxes.
Microsoft on Wednesday said Steven Sinofsky has been promoted as President to the Windows Division, and will lead its business, from development and marketing functions for Windows, to Windows Live and the Internet Explorer.
Australian Dollar: The Australian Dollar opens lower on Thursday at 0.7780 in what may be the beginning of the correction we had to have.
The Obama administration on Wednesday said it strongly opposed legislation in the U.S. Congress that would restrict its ability to respond to future financial crises through the International Monetary Fund.
T-Mobile on Wednesday said its long awaited Smartphone myTouch 3G with Google Android device is now available for Pre-order starting today for its current T-Mobile customers.
The Dow and the Nasdaq eked out gains on Wednesday as a late-stage rally brought stocks off their lows on hopes that the quarterly earnings season would deliver good news.
Total U.S. consumer credit fell by an unexpectedly slight $3.23 billion in May, Federal Reserve data showed on Wednesday, although the previous month's drop was revised to a steeper decline than initially thought.
The Federal Reserve today released the consumer credit report for May indicating a slight decline of $3.23 billion indicating a decline for the fourth consecutive month. The May consumer credit outstanding fell at a 1.5 percent annual rate to $2.5196 trillion from $2.5229 trillion in Apri
The U.S. Securities and Exchange Commission's top inspector and examiner, Lori Richards, plans to leave the agency August 7, the SEC said on Wednesday.
The U.S. recession is likely to end this year, but the Federal Reserve will not be in a rush to change its policy stance while unemployment is still rising, a top Fed policy-maker said on Wednesday.
Stocks rebounded in late trade on Wednesday after a day of wild price swings, with the Dow and Nasdaq eking out gains as investors hoped that corporate results would top estimates as the quarterly earnings season prepared to kick off.
The U.S. recession should end in the second half of 2009 but the Federal Reserve needs clearer signs of sustainable growth to start reversing course on policy, Chicago Fed president Charles Evans said on Wednesday.
The Obama administration announced a deal with three hospital groups on Wednesday that will save $155 billion in healthcare spending over 10 years, mainly by lowering charges for health services to the poor and elderly.
Struggling No. 1 U.S. trucking company YRC Worldwide Inc has asked investment bank Rothschild to evaluate potential bond exchanges as part of its restructuring plans, according to a source familiar with the matter.
New York prosecutors on Wednesday said 13 people and a mortgage origination company have been indicted on charges of running a multimillion-dollar real-estate fraud that cheated lenders through sham sales.
The U.S. recession should end in the second half of 2009, but the Federal Reserve needs clearer signs of sustainable growth to start reversing course on policy, Chicago Fed president Charles Evans said on Wednesday.
Yahoo Inc. announces its new Search Pad beta which will help user to capture, organize, save and share information they find while researching online.
U.S. stock indexes fell on Wednesday on lingering worries about the state of the economy and the uncertain outlook for second-quarter earnings, though surprisingly strong demand for a Treasury auction limited losses.
U.S. President Barack Obama's administration is not discussing a second stimulus plan to jolt the U.S. economy out of recession, a White House budget official told Congress on Wednesday.
Six employees of Wall Street retail brokerage Sky Capital ran a $140 million transatlantic boiler room to defraud investors in the United States and Britain, authorities charged on Wednesday.
The International Monetary Fund said signs in the economy indicate that recession is easing but the recovery will be slow and likely to take some time. The IMF said the global economy is likely to contract 1.4 percent this year.
U.S. stocks fell on Wednesday on lingering concerns over an economic recovery and anxiety about the health of corporate profits ahead of the second-quarter earnings season.
Demand for U.S. mortgages bounced from seven-month lows last week as average 30-year borrowing costs were unchanged, helping ease pressure for aggressive Federal Reserve actions to push down long-term interest rates.
