The number of U.S. workers filing new claims for jobless benefits fell for a third straight week last week, government data showed on Thursday, indicating some loss of force in the pace of the labor market's deterioration.
The steep decline in the U.S. economy has started to moderate, but a pending recovery is likely to be slow and marked by continued high unemployment, Cleveland Federal Reserve Bank President Sandra Pianalto said on Thursday.
Jamie Laird had hoped to retire comfortably some day from the machinist's job he has held for 30 years, but his western Illinois manufacturing plant is closing and he now fears for his family's economic future.
World equities slipped on Thursday, led lower by emerging market stocks which outweighed gains in Europe.
The steep decline in the U.S. economy has begun to moderate, but the ensuing recovery is likely to be slow, Sandra Pianalto, President of the Cleveland Federal Reserve Bank, said on Thursday.
The European Central Bank kept its interest rates on hold on Thursday, and markets are turning their attention to the details of its covered bond purchase plan and any clues on whether rates may yet be cut further.
Fewer U.S. workers filed new claims for jobless benefits for a third straight week last week and productivity rose at a stronger-than-expected pace in the first quarter, data showed on Thursday, supporting budding hope that the recession was losing force.
U.S. stock index futures pointed to a higher open on Thursday, as government data indicated the recession may be abating, while investors digested May sales from retailers.
U.S. stock index futures rose on Thursday after data showed the number of people filing new jobless claims declined for a third straight week.
U.S. stock index futures pointed to a flat open on Thursday, rebounding from Wednesday's decline, as investors await more economic data and monthly sales from retailers.
U.S. stock index futures pointed to a higher open on Thursday, rebounding from Wednesday's decline, as investors await more economic data and monthly sales from retailers.
Dutch financial group ING Groep NV will leave 10 of the 48 countries it currently operates in and sell 10 to 15 businesses over the next three to five years, Chief Executive Jan Hommen said on Thursday.
World equities traded close to 2009 highs on Thursday despite losses on emerging markets and investor fervor being cooled by weaker U.S. private employment and services sector data.
U.S. stock index futures pointed to a higher open on Wall Street on Thursday, following the previous session's sell-off, while investors braced for monthly sales data from retailers.
U.S. stock index futures pointed to a higher open on Wall Street on Thursday, following the previous session's sell-off, while investors braced for monthly sales data from retailers.
Asian equities fell from eight-month highs on Thursday, led by commodity-related shares, after disappointing U.S. private employment and services sector data led investors to trim over extended bets.
Asian equities and metals prices slipped on Thursday, after disappointing U.S. private employment and services sector data led investors to trim over extended bets and look for better points to buy again.
Morgan Stanley is likely to be part of the first wave of major banks to exit the U.S. government's bank bailout program after recently selling more than $2 billion of shares, research analysts said on Wednesday.
Federal Reserve Chairman Ben S. Bernanke said on Wednesday unemployment is likely to increase following the release of the recent unemployment claims data from the labor market in May.
The Obama administration plans to unveil on June 17 its sweeping plan to overhaul financial regulation, according to a source familiar with thinking at the U.S. Treasury Department.
The weak labor market is hurting U.S. cities -- centers of many industries and large housing markets -- with 93 metropolitan areas registering an unemployment rate of at least 10 percent in April, according to Labor Department data released on Wednesday.
American Express Co said on Wednesday that it would suffer less than its rivals from a new U.S. law curbing certain practices by credit card companies because it depends less on interest paid by customers.
Federal Reserve Chairman Ben Bernanke sounded a cautiously upbeat note on the U.S. economy on Wednesday but warned that corralling government debt was vital to ensuring the nation's long-term health.
Former U.S. Federal Reserve Chairman Alan Greenspan on Wednesday questioned the ability of a potential new systemic risk regulator to forecast future financial crises.
KeyCorp and Huntington Bancshares Inc , two of Ohio's largest banks, announced plans on Wednesday to raise common equity, as they try to position themselves to repay federal bailout money.
U.S. stock slid on Wednesday, snapping a four-day winning streak as retreating oil prices sunk shares of energy companies, while signs of further contraction in the service sector doused hopes the recession is abating.
Student lender Sallie Mae expects loan losses to peak in 2009, although charge-offs are likely to stay high, Chief Executive Albert Lord said at a conference on Wednesday.
U.S. stocks dropped on Wednesday on weaker-than-expected economic data, and energy and resource shares, led by Chevron, fell after the government reported a build-up in oil inventories, reflecting reduced demand.
Fannie Mae on Wednesday said it sold $1 billion in bills at lower interest rates compared with sales of the same maturities a week ago.
Federal Reserve Chairman Ben Bernanke warned on Wednesday that rising U.S. debt was contributing to a spike in longer-term interest rates, and said now was the time to start working on reining in deficits.
