Analysis: Investors tired of waiting for Kodak to develop
Its name was once synonymous with home photography. Now, Eastman Kodak is struggling just to stay in the picture.
Republicans hit financial crisis panel for disunity
Republican lawmakers on Wednesday criticized the commission that investigated the 2007-2009 financial crisis for not producing a report that all of its members could endorse.
Instant View: Housing starts, producer prices rise
U.S. housing starts rose more than expected in January to their highest rate in four months but permits for future home construction dropped sharply after hefty gains the prior month, according to a government report on Wednesday that showed the housing market still bouncing along the bottom.
ARM sees boost from high-end smartphones
British chip designer ARM said its royalty revenues would be boosted by the speed of adoption of its newest multicore processors that are powering many of the smartphones unveiled in Barcelona.
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Thousands of Wisconsin union workers protest budget plan
More than 10,000 union public employees and supporters packed the Capitol Square and the inside of the statehouse on Tuesday to protest Gov. Scott Walker's budget plan to strip many bargaining rights from state and local government workers. Republicans legislators hope to get the bill, announced by the new Republican governor last Friday, to Walker's
Housing start s surge in January, permits tumble
U.S. housing starts rose more than expected in January to their highest rate in four months but permits for future home construction dropped sharply after hefty gains the prior month, according to a government report on Wednesday that showed the housing market still bouncing along the bottom.
GM set to pay hourly workers at least $4,000 bonus
General Motors Co (GM.N) will pay its 45,000 hourly workers in the United States a bonus of at least $4,000 each, the automaker said on Monday. The average employee payout will be finalized by the end of February. The payments will be doled out on March 25, a company spokeswoman said.
Geithner: Cut corporate tax rate substantially
Treasury Secretary Timothy Geithner said on Tuesday that the United States needs to cut the corporate tax rate substantially with a goal in the high 20 percent range, down from the current 35 percent. A day after the White House unveiled a budget that seeks to trim the country's massive deficit, Geithner reiterated that the Obama administration
BoE report paves way to rate rise, King more cautious
New Bank of England forecasts opened the door on Wednesday for interest rates to rise but Governor Mervyn King warned markets not to jump to conclusions about the timing or speed of any moves.
Mobile Fair: ARM sees boost from high-end smartphones
British chip designer ARM said its royalty revenues would be boosted by the speed of adoption of its newest multicore processors that are powering many of the smartphones unveiled in Barcelona.
California governor Brown freezes state hiring
California Governor Jerry Brown ordered a hiring freeze on Tuesday across the state's government to help cut costs in the face of a budget gap of at least $25 billion. The budget deficit of the nation's most populous state is closely tracked in financial markets. California is the biggest issuer of U.S. municipal debt, and is of concern in Washington
Orange warns Nokia-Microsoft against closed system
Telecom operators may be discouraged from offering phones from the new Nokia-Microsoft pact if the two groups adopt a closed system akin to Apple Inc's iPhone, an Orange executive told Reuters.
China's microbloggers on new front of Internet
China's Internet controls, under challenge again from Washington, may face an even tougher time from the 125 million Chinese people who have embraced online microblogs to gossip, rant and mobilize.
Producer prices, home construction rise
U.S. core producer prices in January rose to their highest rate in more than two years, hinting at a build up in inflation pressures as the recovery gathers pace, a potentially troubling development for the Federal Reserve.
Housing starts surge in January, permits tumble
U.S. housing starts rose more than expected in January to their highest rate in four months but permits for future home construction dropped sharply after hefty gains the prior month, according to a government report on Wednesday that showed the housing market still bouncing along the bottom.
Borders files for bankruptcy
Borders Group Inc , the second-largest U.S. bookstore chain, filed for Chapter 11 bankruptcy protection, after years of sharp sales declines that made it impossible to manage its crushing debt load.
SocGen's Q4 profits bounce back
Profits at French bank Societe Generale nearly quadrupled in the final quarter of last year, thanks to a pick-up in its retail banking and core equities derivatives businesses, it said on Wednesday.
UK unemployment, jobless claims rise
The number of unemployed people in the UK rose by 44,000 to 2.49 million in the last quarter of 2010, the Office for National Statistics (ONS) said on Wednesday.
SocGen deputy CEO says 2011 started off better than Q4
Market activity since the start of 2011 has improved from the fourth quarter 2010, which was hit by the rescue of Ireland and sovereign debt fears, French bank Societe Generale's deputy chief executive told Reuters Insider television.
StanChart exits loan trading to focus on lending
Emerging markets focused lender, Standard Chartered Bank <2888.HK>, has shuttered its global loans trading unit, sources familiar with the matter told Reuters on Wednesday, ending a unique experiment in Asia, as it moves to focus on lending to clients.
Redemption requests top $1 billion at Diamondback
Investors in Diamondback Capital Management, one of four hedge funds raided by federal authorities last year as part of an insider trading probe, have asked to pull more than $1 billion from the firm, a source familiar with the fund's communications to clients said on Tuesday.
IMG to spread Major League Gaming globally
NEW YORK - Major League Gaming, the largest professional competitive video game league, will be expanding to new markets outside North America thanks to a new partnership with IMG, the global sports and entertainment company.
Madoff says banks had to know of Ponzi scheme: report
A frail Bernard Madoff, facing the rest of his life in prison, said a variety of banks and hedge funds were complicit in and had to know about his epic Ponzi scheme before it was uncovered, The New York Times reported.
JPMorgan CEO: I'm staying put, and bank is expanding
JPMorgan Chase & Co Chief Executive Jamie Dimon said his bank will not be goaded into doing something dumb with its capital, even as it prepares an aggressive expansion in consumer and private banking over the next five years.
Republicans to probe Fannie, Freddie executive pay
A key congressional panel charged with overseeing financial matters plans to question Fannie Mae and Freddie Mac executives over their multimillion-dollar compensation packages paid for by U.S. taxpayers.
JPMorgan ignored client red flags post-Madoff: lawsuit
A former JPMorgan Chase & Co private banker has filed a new whistleblower complaint against the bank, saying it ignored many red flags about a suspicious client even after the fraud of another client, Bernard Madoff, was exposed.
Fannie Mae chief defends legal aid for former execs
The head of Fannie Mae and his firm's government overseer on Tuesday defended the use of millions in taxpayer dollars to pay legal bills for former executives accused of fraud.
Reform Social Security but keep benefits: Geithner
Treasury Secretary Timothy Geithner said on Tuesday the United States needs to shore up its massive pension program without slashing Social Security benefits or subjecting them to the whims of the stock market.
Google CEO says tried hard to woo Nokia
Google tried hard to win Nokia over to its Android mobile platform before Nokia decided to throw its lot in with Microsoft, Google Chief Executive Eric Schmidt said.
D.Boerse unveils NYSE deal, now faces bumpy road
Deutsche Boerse faces a long, hard struggle to get approvals from a host of regulators for its $10.2-billion takeover of NYSE Euronext to form the world's largest exchange operator.
U.S. says G20 should look at capital flows impact
The United States hopes the Group of 20 meeting in Paris this weekend will begin coming to grips with how to handle rapid flows of capital that stoke inflation and cause currency rate disruptions, a Treasury official said on Tuesday.
EBay, Telefonica's 02 in smartphone app deal in UK
EBay Inc said on Tuesday that its mobile shopping application would be pre-loaded onto smartphones sold by Telefonica's 02 unit in the United Kingdom.
China faces Internet dictator's dilemma: Hillary Clinton
China, Syria and others face a dictator's dilemma over Internet control and risk being left behind as the rest of the world embraces new technologies, Secretary of State Hillary Clinton said on Tuesday.
Work on social security reforms needed: Geithner
Treasury Secretary Timothy Geithner said on Tuesday the United States needs to put its massive pension program on a sounder footing but vowed to reject efforts to slash Social Security benefits and subject them to the whims of the stock market.
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