World stocks rose for the fourth session in a row on Wednesday, despite overnight losses on Wall Street, lifting demand for higher-yielding currencies.
The Australian dollar and emerging market currencies slid on Wednesday as investors began to question how much longer a near three-month rally in riskier assets can last without evidence of a sustained economic recovery.
Oil prices rose above $60 a barrel on Wednesday, hitting a new six-month high, as investors awaited more U.S. oil inventory data and kept a close watch on equities for direction.
The World Bank President Robert Zoellick said Monday that the pace of decline in the global economy is set to slow and it could see resumed growth as early as late 2009.
Oil prices steadied above $60 a barrel on Wednesday after touching a six-month high a day earlier, as investors awaited more U.S. oil inventory data and kept a close watch on equities for direction.
Japan's economy shrank a record 4.0 percent in the first quarter as domestic demand and investment buckled, threatening to crush any export-led rebound later this year.
Japan's Nikkei stock index rose 0.4 percent on Wednesday with trading houses up after a brokerage upgraded Mitsubishi Corp, but gains were limited as a slightly firmer yen dragged on exporters such as Honda Motor Co.
The Nikkei stock average rose 0.4 percent on Wednesday, shrugging off data showing Japan's biggest economic contraction on record, with high commodity prices buoying trading houses such as Mitsubishi Corp .
Bank of America Corp raised $13.47 billion through a share sale, marking a major step toward meeting the U.S. government's requirements for capital-raising following the recent stress testing of the bank.
JPMorgan Chase & Co and several other banks eager to escape the restrictions and stigma linked to government bailout funds may get the chance to do so in the next few weeks.
The Federal Reserve said Tuesday that on July 1 it will expand a program which boosts credit among companies that issue consumer and business asset-backed securities.
American International Group, Inc, under government pressure to revamp its board with a majority of new independent directors, announced on Tuesday six nominees who will be voted on by shareholders at the company’s annual meeting on June 30.
Today, Dell introduced the new Latitude 2100 netbooks designed for use in schools for students in K-12. The new netbooks has a rubberized design that is easier for children to carry and use safely which also helps the machine to withstand rigorous living with kids.
The Federal Reserve said Tuesday that big banks seeking to pay back government aid could start doing so by June, according to a Fed spokesperson.
A federal appeals court reinstated a claim by a JPMorgan Chase & Co credit card holder accusing the bank of failing to properly disclose risk factors that allow it to suddenly raise rates.
A federal court has approved the distribution of more than $843 million to harmed investors at insurer American International Group , the U.S. Securities and Exchange Commission said on Tuesday.
The Dow and S&P 500 slipped on Tuesday as financial shares sank and on disappointing housing data, but the Nasdaq rose as investors snapped up technology shares ahead of results from Hewlett Packard .
Neal S. Wolin was confirmed as the Deputy Secretary of the U.S. Department of the Treasury by the United States by Senate late Monday.
Several major banks are seeking permission to repay government bailout funds, and JPMorgan Chase & Co expects repayments to begin within the next couple of weeks.
The Dow and S&P 500 slipped on Tuesday as financial shares sank and on disappointing housing data, but the Nasdaq rose as investors snapped up technology shares ahead of results from Hewlett Packard .
U.S. housing starts and permits fell to record lows in April, weighed down by a slump in multifamily units, according to data on Tuesday that still hinted the U.S. recession may be drawing to a close.
Credit card companies are likely to have tougher rules to live by as the U.S. Senate on Tuesday voted 90-5 to approve a new bill restricting credit card practices; President Barack Obama is expected to sign it into law before month end.
Stocks rose for a second day on Tuesday as investors snapped up shares in the technology sector ahead of results from Hewlett Packard , betting the tech bellwether may be the latest company to beat estimates.
Financier and money manager J. Ezra Merkin will stop managing his hedge funds and place them into receivership at the demand of New York Attorney General Andrew Cuomo, a person familiar with the matter told the Wall Street Journal.
Shareholders could get more influence over executive pay and the composition of boards of directors under U.S. legislation unveiled on Tuesday.
Dr. Shad Helmstetter, my favorite contemporary author on the subject of self-talk, titled his book, What to Say When You Talk to Yourself.
Stocks moved higher on Tuesday as investors bet that April's slide in U.S. housing starts and permits signaled that the housing market may soon stabilize as the supply of new homes dwindles.
U.S. banking supervisors have received requests from several major banks to repay emergency government investments, a Federal Reserve spokesperson said on Tuesday.
Receivers would take control of three hedge funds run by prominent money manager Ezra Merkin and linked to the Madoff fraud, lawyers for New York's top legal officer and Merkin said on Tuesday.
Stocks were little changed on Tuesday as data suggesting no let-up in the housing slump tempered investors' hopes that the recession was moderating.
