The number of U.S. workers filing for jobless benefits fell last week, but a surprise decline in January pending home sales contracts to a 10-month low underscored the slow nature of the economic recovery.
The European Central Bank took a small step toward unwinding its extraordinary support for the euro zone economy Thursday, but it forecast a fragile recovery and left much of its cash buffer for banks in place.
The U.S. stock market erased morning gains to trade negative for the day, despite declining unemployment claims, better than expected sales from retailers, and Greece's successful auction of its 10-year bonds.
Stocks pared early gains on Thursday, hurt as weaker-than-expected energy demand hit the oil and gas sector, offsetting solid February retail sales figures.
Little-known brokerage firm Monness, Crespi, Hardt & Co has long toiled in the shadows of Wall Street, but the boutique suddenly has been thrust into the limelight because of an ideas dinner it sponsored last month for a group of about 18 hedge fund traders.
U.S. stocks turned negative on Thursday, pulled lower by energy shares as the price of oil fell nearly $1 to $79.94 a barrel.
Any job losses from Prudential Plc's planned $35.5 billion acquisition of American International Group's Asian insurance arm will be mainly in back-office operations and not among sales forces, the companies' CEOs told staff in Asia, sources said.
The number of U.S. workers filing new applications for unemployment benefits fell last week, while productivity was stronger than initially thought in the fourth quarter, boosting hopes for the economic recovery.
Citigroup Inc Chief Executive Vikram Pandit said he supports an enhanced federal consumer protection authority because problems for consumers can affect the entire financial system.
The Bank of England held fire on both interest rates and quantitative easing on Thursday as it paused to assess the impact of the massive stimulus it has already injected into the economy.
Futures on U.S. stock indices traded higher before the open as declining unemployment claims, combined with Wednesday's better than expected ADP employment data, eased investor sentiment ahead of Friday's unemployment rate report.
The number of U.S. workers filing new applications for unemployment insurance fell as expected last week, a government report showed on Thursday, while those continuing to receive benefits dropped to the lowest level in over a year.
Iceland can get by without more cash from the International Monetary Fund until it needs to refinance debt in 2011, although any big delay will hit its economy, a central banker said on Thursday.
Stock index futures ticked higher on Thursday as retailers posted better-than-expected sales for February and as investors awaited the latest data on the labor and housing markets.
Citigroup Inc Chief Executive Vikram Pandit said he supports a federal consumer protection authority, because a key lesson of the crisis is that issues influencing consumers can become issues for the whole financial system.
Stock index futures were little changed on Thursday as investors awaited data on the labor and housing markets, along with a report on January U.S. factory orders.
Debt-burdened Greece drew strong demand for a crucial bond issue on Thursday but paid a steep risk premium that underscored its plea to Germany and other EU partners for support to help lower its borrowing costs.
Iceland can get by without more cash from the International Monetary Fund until it needs to refinance debt in 2011, although any big delay in foreign aid flows will hit its economy, a central banker said on Thursday.
Any job losses from Prudential Plc's planned $35.5 billion acquisition of American International Group's Asian insurance arm will be mainly in back-office operations and not among sales forces, the companies' CEOs told staff in Asia, sources said.
The Obama administration reasserted its commitment to banning proprietary trading by banks with draft legislative language on Wednesday, despite signs that Congress is unlikely to adopt such a rule.
World stocks slipped on Thursday while the euro held above a recent 9-month low against the dollar as the European Central Bank prepared to announce next steps in stimulus withdrawal after its policy meeting.
Shareholders of Washington Mutual Inc have filed a complaint against the savings bank holding company for not convening an annual shareholders' meeting for nearly two years, court documents show.
Asian shares eked out gains and the euro extended its rise on Thursday after Greece announced fresh austerity measures to reduce its deficit and on data pointing to a rebound in the U.S. jobs market.
The chief executives of Britain's Prudential Plc and American International Group met employees of the two firms in Southeast Asia on Thursday, in a bid to address concerns about the insurance industry's record M&A deal unveiled earlier this week.
The Obama administration reasserted its commitment to banning proprietary trading by banks with draft legislative language on Wednesday, despite signs that the U.S. Congress is unlikely to adopt such a rule.
Directors of State Street Corp paid departing Chief Executive Ronald Logue $5.4 million as the cash portion of his incentive compensation for last year, the company said in a securities filing on Wednesday.
Wells Fargo & Co , the fourth-largest U.S. bank by assets, paid Chief Executive John Stumpf compensation worth $21.3 million for 2009, a package that likely makes him the highest-paid U.S. bank CEO, according to materials filed with U.S. regulators.
Nortel Networks Corp said it received U.S. and Canadian court approval for the sale of its carrier Voice over Internet Protocol and application solutions business to Genband Inc for about $182 million.
GM Vice Chairman Bob Lutz, an executive credited with bringing an urgency to the automaker's efforts to revamp its vehicle line-up and shake off negative consumer perceptions, will retire on May 1, General Motors Co said on Wednesday.
Bankrupt General Growth Properties Inc said on Wednesday it had opened its books to Simon Property Group and others, even as it sought court approval for more time for the exclusive right to file an exit plan.
