A senior U.S. Federal Reserve official said on Tuesday that an extended period of ultra-low interest rates invites speculative behavior and is risky.
U.S. stocks rose on Tuesday as an increase in mergers and acquisitions and signs of progress in securing European financial support for Greece relieved investor fears.
Fertilizer maker CF Industries Holdings Inc relaunched its hostile bid for Terra Industries Inc , betting that a higher price of $4.75 billion would help it break up Terra's planned takeover by Yara International ASA .
Office products retailer Staples Inc gave a weaker-than-expected forecast for 2010, as it invests to expand its store base and technology business, sending its shares down more than 7 percent.
Greece must tighten its belt further to reach this year's deficit-cutting target, but it is not yet clear by how much, the European Commission said.
Dow Chemical Co said it would sell its Styron basic plastics unit to private equity firm Bain Capital Partners for $1.63 billion.
U.S. stocks rose on Tuesday, with major indexes turning positive for the year, as Greece appeared to be taking steps toward a resolution on aid from the European Union.
Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 were little changed at 0950 GMT.
U.S. stocks were set for a higher open on Tuesday, a day after the S&P 500 moved into positive territory for the year, as Greece appeared to be making progress toward a resolution on aid from the European Union.
Allied Irish Banks said it would try to sell assets or a stake in the group before approaching shareholders or the government for further capital, after posting its first ever full-year net loss.
Staples Inc reported lower-than-expected quarterly profit on weak demand for big-ticket items, and forecast full-year earnings well below analysts' expectations, sending its shares down 7 percent.
Top office products retailer Staples Inc reported higher-than-expected quarterly revenue, boosted by its improving North American business, although its profit fell slightly short.
Stock index futures rose on Tuesday, a day after the S&P 500 moved into positive territory for 2010, as Greece appeared to be making progress toward a resolution on aid from the European Union.
Stock index futures rose on Tuesday, a day after the S&P 500 moved into positive territory for 2010, as Greece appeared to be making progress toward a resolution on aid from the European Union.
Allied Irish Banks posted its first ever full-year net loss, after being burned in a property market crash, and did not offer any exact guidance on when or how it would restore profits and its capital base.
Japan's Canon Inc said it had acquired or been tendered 71 percent of Oce's shares in a takeover bid of the Dutch printer maker that closed Monday, short of its target of 85 percent.
Allied Irish Banksposted its first ever full-year net loss on Tuesday after being burned by exposure to Ireland's property market crash, saying the outlook and environment remained extremely challenging.
The pound came under further pressure on Tuesday, battered by political worries and engorged public finances, while global equities stayed relatively buoyant.
Asian shares climbed for a third session on Tuesday, led by tech stocks, while the Australian dollar slipped on uncertainty about the pace of future interest rate hikes.
Toyota Motor Corp will roll out an aggressive incentive program for U.S. consumers in March, including zero-percent financing for five years and two-year free maintenance, a source briefed on the matter said on Monday.
Asian shares rose for a third straight session on Tuesday, led by tech stocks, while the Australian dollar slid ahead of what is expected to be a close decision by the central bank on whether to raise interest rates again.
The U.S. Federal Deposit Insurance Corp is planning to sell $1.8 billion of guaranteed asset-backed debt, according to IFR, in what may be a step toward restoring confidence in securities closely tied to the financial meltdown.
Two key senators were discussing making the Federal Reserve the home of a proposed U.S. government watchdog office for consumers that has been the main obstacle to bipartisan agreement on financial reform, said sources familiar with Senate discussions on Monday.
Britain's Prudential will buy American International Group's Asian life insurance arm for $35.5 billion in the insurance sector's biggest deal ever, helping the bailed-out U.S. group repay a big chunk of its taxpayer debt.
Global hedge funds posted small gains in February as many prominent managers steered clear of stocks and bet against Europe's common currency, analysts at Bank of America Merrill Lynch said.
McDermott International Inc reported higher quarterly net income on Monday as offshore oil and gas work offset weakness in power generation systems, but it posted revenue well short of analysts' estimates.
The Bank of Japan remains under steady government pressure to loosen monetary policy further, even as the central bank's ammunition to beat deflation dries up. While the government has not openly said what exactly it wants the BOJ to do, it is relying on it to act in the event of a sharp rise in the yen or in bond yields that could threaten a fragile economic recovery.
Two key senators were discussing making the Federal Reserve the home of a proposed U.S. government watchdog office for consumers that has been the main obstacle to bipartisan agreement on financial reform, said sources familiar with Senate discussions on Monday.
The number of U.S. companies with public stock or debt that filed for bankruptcy protection last month dropped more than 70 percent from a year ago, as companies have benefited from strategies to stay out of court.
The possibility of setting up a new financial consumer watchdog within the Federal Reserve was one of a range of options being discussed by members of the U.S. Senate Banking Committee, sources said on Monday.
